I Think the good news already happened - but I'm sure more will follow - spot prices went from US1250 to $2240 in two months for the crappy 5.5% Li20
This re-rates all Aus Companies with Spod Reserves.
PLS have a transparent price indicator based on simple market supply and demand. We all know how much its worth now and pricing is not hidden behind a cloak of complex formulas based on chemical pricings and called a contract price.
JORC 10.2mt we have - (and in my previous post have demonstrated we could have easy another 8-10 by drilling deeper and the recent near surface fresh spod drills)
If it cost ESS US$500 per ton to mine the Spod and concentrate to above 5.5%Li2O and we sell at $1000 per tone we make a good profit - then if prices double to $2000 we don't just double our profit but triple it.
IE its equivalent to finding 3 times the spod but better because we only have the cost of mining 1/3 of it.
OK probably losing some here, Today we broke that pesky 23c resistance - and only took a doubling of the Spot spod price to do it! Hopefully we see that pesky turn friend and become support. Blue sky now.
Congrats everyone! Great day to be an ESS holder.
ESS Price at posting:
26.0¢ Sentiment: Buy Disclosure: Held
