I totally disagree with your assessment of the Coronavirus.
The Sars epidemic in 2003 afflicted more than 8,000 people in 37 countries worldwide and killed 299 people in Hong Kong. In only a few weeks, the coronavirus has already infected more people than SARS did during an entire year. Coronavirus Cases: 11,948 Deaths: 259
Wuhan is in lockdown and the place is a ghost town of 11million inhabitants. Many other cities are in lockdown as well.
Wuhan is home to nine car factories, including joint ventures with Honda and French carmakers PSA and Renault, and dozens of auto-parts suppliers. China’s third largest carmaker, Dongfeng Motor is based there.
A total of nine car factories – including Peugeot Citroen, Renault, Honda, and China’s Dongfeng – are based in Wuhan, according to the SCMP. Dongfeng is the third-largest car manufacturer in China.
Not to mention the huge number of steel manufacturers in China.
Hebei province, which surrounds Beijing and accounts for about a quarter of the nation’s steel output, had several dozen confirmed cases, according to the state-owned Beijing News. Shandong province, the nation’s second-biggest steel province, had 130 cases by Wednesday. By contrast, Hubei now has several thousand cases.
US airlines have suspended flights to China. Delta Air Lines, American Airlines, and United Airlines announced Friday that they are suspending flights between the United States and China due to the spread of the coronavirus.
The Chinese have failed to contain the virus and acted too slowly. Many other countries are worse off including Australia that has done very little to contain it's spread. The "knock on" effect globally is massive! PLS and all the other lithium miners will suffer along with the rest of the market now. Gold pushed higher overnight as fears grow and monies move into "safe haven" assets.
I think you have assessed PLS correctly monetarily wise in so far as that it may well go bankrupt now. It is currently sitting on the precipice of collapse.
PLS Price at posting:
29.5¢ Sentiment: None Disclosure: Not Held
(20min delay)