Hi Moowee
Commiserations on bad news day, but I don’t think the deer in the headlights will be run down any time soon by PLS.
The price here is (currently) back close to the $2.54 daily low of December 1 - just 15 trading days ago - and it
was getting a bit fired up in those days on no company news?
…And (rhetorically) were you intending to sell your shares?
Re labour problems I don’t think they are so bad either;
As Chris Ellison of MIN has said (at least twice in the press), the Covid-related labour shortages in WA meant employers
were all fishing from the same goldfish bowl.
But there are already big moves afoot to address the skill shortages in WA and depending on Omicron the situation will only get better.
Since November 20 WA has been admitting up to 530 international arrivals a week
https://www.mediastatements.wa.gov....fely-welcome-more-international-arrivals.aspx… and I don’t know how many more have been lured from the Eastern states (until the latest border closures).
- They are tempted by huge bonuses and other great incentives including (to my reading) MIN intending to build olympic pools and cafes at the camps along with couples bungalows, BHP (?) offering waygu steak and cooking classes, one of the gold mines paying $10,000 bonuses to people who brought in friends who stayed six months and heaps more.
Whilst Monadelphous (at its AGM) reckons the worker shortage will continue to hurt into the near future, other companies (NRW and MACA) are more up tempo on conditions easing.
NB also new media campaign to attract workers:
https://www.perthnow.com.au/news/wa...dents-and-workers-its-like-no-other-c-4961416…. And, sadly, some companies such as AVRWA are being liquidated - potentially freeing staff.
Seek only shows seven positions vacant for PLS at right now.
https://www.seek.com.au/Pilbara-Minerals-jobs/at-this-company - only one for multiple people;
“Pilbara Minerals are expanding and we’re looking for experienced Process Operators to join our team to assist in the commissioning and continuous production of our Ngungaju Lithium Operation.”(which wording goes to support the theory ‘continuous production’ at Ngungaju has been an issue.)
Anyway I reckon labour conditions *will* improve and maybe soon, and meanwhile there are plenty of opportunities to rebuild/consolidate prices (?) on a fundamental level via contracts at Ngungaju and the news of Phase 1 expansion of the Pilgan plant — “for an incremental 100,000 tonnes a year of spodumene concentrate” — that may take place early next year. (From yesterday’s resources report)
Plus potential for good Calix news and whatever else .
cheers and better luck to tomorrow!
(20min delay)