Ann: PFS vindicates high-value potential of LFP battery materials, page-26

I'd go further and say this....The numbers just don't stack up and it won't get to production

1) they have used a Carbonate price of $10.5/kg, when current spot price is $13.5/kg
2) they have used a LFP price of $14/kg, when the current spot price is $7.5/kg.
3) they are 2 years behind the initial delivery time of the PFS. ie, they didn't deliver a PFS in 2019 like promised because the numbers don't stack up
4) management were recently offloading shares in Feb this year. If the PFS was so compelling, why would management offload just before the PFS is released?
5) they have yet to prove the cathode powders. Still no cycling tests data, no UN 38.3 certification data
6) the company has a history of making announcements on plants etc, and have yet to deliver one
7) Note they did not compare pricing vs low-cost competitors like Nano One
8) If you run the numbers based on the price of LFP during the 2018 boom ($12/kg), and carbonate ($22/kg), numbers just don't stack up

Its all about the run of price sensitive announcements to prevent the stock price continuing to slide