Ann: Pilbara Board Approves Ngungaju Plant Restart, page-95

Holding that integrity builds trust for those on the outside looking in. A good example, and as per Andyrooo's post, management disclosed the higher cash costs, so Mr/Mrs market is aware, no surprises in the future, less volatility. Analyst's can now factor those costs into their free cashflow models, however, Platts lifting their monthly spod price assessment from $700 to $800pt, means analyst free cashflow modelling will be adjusted to the upside, say by $60 to $70pt.

As per Fastmarkets weekly assessment on lithium prices, demand is so strong, securing lithium units is more important than price atm, as I imagine chem producers do not want to incur penalties for dishonoring supply contracts. How quickly the weather can change, perfect storm IMO.

Instead of rushing to crank up Ngungaju plant, management are taking a responsible stance to improve plant performance, thus economics, which in turn, has further benefits such as, increasing bargaining power, as you say, and driving prices higher. Spod supply is expected to be in deficit through 2023, so +$1,000pt is not out of the question, and on that note, probably means spod prices average ~$800pt for the next 4 years.

From an Oz spod production perspective, I can't see a lot of new spod exports coming out of Oz beyond 2024, in fact it will probably reduce thereafter, all earmarked for downstream chem/salt production, substantially decarbonizing the Oz miners, not to mention the additional financial benefits.

It is noticeable the recent marketing appointment is starting to push a more steady flow of PLS news out there, to the market, though they don't need to pretend, they have articulated a credible short and long term sustainable growth strategy. A winner that's for sure....