I think I am actually ok to comment here and AJM.
Yes it is true that PLS had serious issues and was able to navigate those issues. It could not get its recovery rate to what it felt was in the DFS and obviously lithium prices fell back in late 2019/20. Why did PLS survive - I will give you tip, taking over AJM is what made it survive as well as the upturn at that time in spodumene prices. Why - AJM's deposit was more coarse -
Post #:41474370 - than PLS's deposit and as a result it provided the blending opportunity it needed to ensure that the SAG and ball mill worked appropriately, well better than what it was doing, and that liberation would work in part to what they previously forecast - and obviously also helped the DMS part of that process flowsheet - as well as ensuring moisture content came in on spec. Add some more capital spend and yes recovery went up as well, but also they decided that their optimal strategy to profitability was also not producing 6% grade. I posted on the differences between deposits a while agio - here have a read:
Post #:53056833The takeaway from the AJM experience is those who survive make a tonne of money - ask PLS. And LTR's cash costs will be low assuming they meet recovery rates. And I feel that LTR will meet its recovery rate -
Post #:73232929 - and will appropriately ramp up to full production within the first 12 months of first production happening in late June/early July 2024.
As to Gina - she is here for the long haul, but given the chance she will seek to take the benefits as she did to AGO shareholders -
Post #:72200680LTR will survive and that means share price becomes a function of EPS and P/E ratios. And for avoidance of doubt the only spodumene prices worth quoting are the ones where China doesn't manipulate the price - it is why PLS is getting more than those so-called Chinese prices you lot seem to focus on -
Post #:74149971First production is in a few weeks - i would be expecting shorts covering positions especially if ramping to full production happens on schedule. Yes all projects have a ramping to full production stage.
All IMO
(20min delay)