By the looks of it PLS is yet to get to the higher prices currently been offered in the June quarter. PLS has reported total revenue from ongoing operations, which I presume includes tantulum but not sure and production, so someone on here can correct what the revenue number below includes. Regardless how you treat the following two comments you get prices below US$600 per tonne at a 75c exchange rate. From the quarterly:
and
So dividing $78.4 million by 95,972 gets you A$738.76 per tonne, and at a 75c exchange rate makes the price US$554.07 per tonne. The key though is should you be dividing by $70.9 million as not sure where the deferred $7.5 million should be recorded in the sentence, given not clear too me on a quick read where the tonnes attributable to that are reported(March quarterly or June quarterly), but did a quick read here btw. Also not clear if the revenue includes tantulum.
In any event, I suspect PLS's pricing formula probably is based on some notion of pricing in the previous quarter (i.e. for June pricing meaning March quarterly pricing) so if that is the case where the benefits of the increased June quarterly pricing of spodumene might hit is the Sept quarterly at a guess, but don't know.
Maybe something for yourselves to debate and consider etc etc. Nice to see this quarterly puts PLS in the black (for the first time in a while I suggest) so should make markets happy, albeit not clear whether markets were expecting more profit.
As to the oversight of Director selling, very ameteurish to say the least but people make mistakes etc etc
(20min delay)