@DaisyA they’re on a guessing game, and my pov they’re wrong on Ltr. I can understand that they’re shorting PLS as their cash margins have effectively reached nil, and can only become profitable again if the prices pick up. As shown in my earlier post today citing PLs and Sigma valuations, some form of balancing will occur and however I look at it, it means a major re-rate for Ltr. I’m actually impressed that pls and sigma are holding up their sp and needless to say, such nullify the doom/gloom narrative Citi snd GS are peddling. The more they sustain their valuations the better for Ltr.
With regard to consolidation, Ltr is still a most attractive target. If bhp is willing to spend aud60 billion on their left field attempt on Anglo-gold, I will not discount bjp or another major to lob an offer. I haven’t ruled out anything.
Commissioning:
“Multiple pieces of equipment, including the crusher, have been run, with first ore imminently planned to be fed into the dry plant.”
Now I’m not an expert in this (perhaps @Process1 and @Scarpa are able to comment), but when looking at history of peers (we know what happened when galaxy and pls commissioned), there’s very little window between first feed into the crusher and actual production of spodumene concentrate. And now based on time frame to engage Qube, we could be shipping our first concentrate in July or August at the latest.
here’s a refresher- the target is a quarter delay based on initial DFS timeframe. It’s extraordinary that the timeline move just within 3 months, (production in Q3 instead of Q2) considering that much of the project work was done during covid-19 restrictions and the Ukraine war which in one way or another caused disruptions.
Shorters have been put on notice TODAY imo. And the petty shorters with $1 million exposure are about to lose their home, not something to celebrate but decisions have consequences, right or wrong. They know we understand our risks as LTH of Ltr These are being mitigated on a daily basis.
As we’ve said, Ltr will no longer announce petty achievements. Between the 2 quarterlies, we only had one price sensitive Ann’s which was the debt facility.
(20min delay)
