With regards to PLL, I actually think this is much worse.
On Jan 1, 2023 they (PLL) had cash on hand of 117 million. They then inked a deal with LG for an additional 75 Million and finally they had a documented sale of 29011 tons @ $1624/t for a total of around 47 Million. Additionally they had revenue generated in Q4 that has not been disclosed at this point.
so 117 + 75 + 47 = 239. (plus whatever they sold in Q4)
239 Million and they only have 72 million left ... That is a burn rate of about 42 million per quarter in 2023. Where did they spend 167 million?
Its hard to believe that this will get any better in the first half of this year, which is why they are starting to sell off assets.
PLL also has stated that they have a total construction commitment of 128 million that is supposed to begin by the end of 2024 with first production at the beginning of 2025, I don't see this being able to occur.
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