Why must we burn cash when it can be utilized elsewhere, like setting up refining plants for graphite, if the spot prices are better?
You do realise that mining other commodities requires burning cash on a serious scale with years of exploration ,developement and permitting all done without knowing what the price of that commodity will be when in production...we're spodumene producers, its what we know and are good at.
All commodities have cycles and trying to time them to fit in with construction timelines is something we have already discovered with spodumene, we got into production just as prices collapsed, such is life and the same thing could happen if we ventured into othe commodities.
The main difference now is we are in position to benefit from the next cycle just as PLS was 3-4 years ago and were close to breakeven while waiting.
We're utilizing cash now, using it chasing the latest fad in commodities would be squandering it.
Cheers Whisky
SYA Price at posting:
2.3¢ Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)