As a shareholder in Bunnings I find this latest foray into Lithium worrying, as I did with the rare earths before.
Clearly WES business development and the Executive don't have a clue about commodities or ore bodies. Their logic is flawed, they divest of a proven coking coal business generating strong free cash flow and dabble with commodities that are in abundance, and which have a poor history of cash flow generation. None of the ASX lithium companies have to date generated sustainable free cash flow after capex and exploration, and the jury is still out on whether they ever will. The same applies to graphite, rare earths, other "fashionable" battery minerals. There is plenty of lithium & graphite in the world & so unless you have an outstanding ore body you will always end up being a price taker.
WES should stick to what they know & understand !
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