The shorters had to come in and protect their turf or it could have become a runaway train bringing in massive losses they can't pay. Their only choice was to sell some more.
Wodgina is a 234 MT resource @ 1.21% Li2O. It was valued at $1.15 billion for a 50% stake excluding iron ore and tantalum by product. PLS on the other hand is a 226 Mt resource @ 1.27% Li2O with 116 ppm ta2O5. I don't think that the buyer who lost out to ALB in the Wodgina deal would make the same mistake as it is the last resource of this size on the market. I would therefore value PLS at least US$3 billion or A$2.3 per share... an upside from current levels few will be able to ignore.
The writing is on the wall..... shorters don't have six months to cover their positions.
The shorters had to come in and protect their turf or it could...
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Last
$4.18 |
Change
0.120(2.96%) |
Mkt cap ! $12.58B | |||
| Open | High | Low | Value | Volume |
| $4.13 | $4.20 | $4.11 | $86.61M | 20.81M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 11 | 1408666 | $4.18 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.19 | 165878 | 22 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
$4.18 |
Change
0.120 ( 3.20 %) |
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| Open | High | Low | Volume | ||
| $4.12 | $4.20 | $4.12 | 4580071 | ||
| Last updated 15.59pm 03/05/2024 ? | |||||
| PLS (ASX) Chart |