PLS 1.07% $3.71 pilbara minerals limited

Ann: Pilbara Declares Commercial Production, page-29

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    There was never a announced plan for stage 3, thats only a recent announcement. Demand is so strong that forced the stage 3 decision. The smart move from management is not to fully rely on the income from Spod. This will always be manipulated by the Chinese. The key is to get as close to the battery as you can. Look at KDR, their valuation is based on the vertical integration with SQM, little to do with their resource, albeit substantial but a long way off to production to warrant their MC, IMO
 
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