Yeah thanks for that. I just saw the 560 and immediately thought of the acquisition price of A$560m. It would appear most shares allotted were available for sale soon after.
I just feel this goes a long way to explain the fall in the SP. Of course the price of SC6 has fallen but not as badly as the PLS SP.
One less thing to worry about.
The optimisation and ramp up of the P1000 Project cannot be underestimated. Spodumene markets will balance and when that occurs, production will justify a higher SP. Ngungaju restart will add another 150-200ktpa and LRS 400-500ktpa starting up next year.
I was also concerned about the US earnings season that started last night. The Q1 was before Liberation Day so it wasn't quite the results that concerned me but moreso future guidance.
Lower Oil prices and Ukraine looking to sign a peace deal are all positives for the World Economy. The US Economy is still taking its medicine and Q2 will be rocky.
PLS Price at posting:
$1.51 Sentiment: Buy Disclosure: Held
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