Ann: December 2023 Quarterly Activities Report, page-40

Many may not agree, IMO the BOD should consider using part of cash reserve (say $500 m) for a shares buy back starting asap.
My reasons are :
1) This will support the SP in the short / medium term
2) The >$2 b of cash reserve is way more than required for the expansion / development cost for the next 2 years.
3) The > $2 b cash reserve is way too much for any contingencies required (after item 2 above)
4) PLS still run a cash positive business even at current Li price this quarter - $176 million positive
5) The consensus is that Li price has hit the bottom, in the next few quarters PLS will be still in cash positive generate decent margin, hopefully maintain and better than $176 m of his quarter (the need to dig into the cash reserve is very minimal - do not see the spod. falls below US700 per ton)