Let's be honest VMP - while LTR has the advantage of 6.0% (perhaps more) Spodumene concentrate (rather than PLS' optimal SC5.3% levels), PLS will have the operating cost advantage. Operating margin is influenced by both the revenue and expense side. Let's not focus on only one side of the equation.
Long may this Spodumene prince increase continue. I'll take more comfort when it's solidified above US$1,250 per tonne.
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Change
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