Margaret they are just trying to draw emotions. I keep asking...

Margaret they are just trying to draw emotions. I keep asking myself, to what extent has anything change with respect to the underlying asset rather than focusing on “why is the SP following the trend shown by the overall market”.

It seems to me that LTR still has:

• top quality plant and design with redundancies built in to reduce or remove downtime in production for maintenance. That ought to lead to increased ability to hit design output. Consider the issues experienced at AJM’s quick rough and ready made plant vs PLS back when they got into production. Yes PLS did some plant upgrades when demand was lower but AJM just never was able to hit the design specs for that plant.

• top tier offtake partners which are not linked to the Chinese domination cycle. This is a big distinction to other operations and will only become moreso valuable as the tarrifs and materials passports start to take effect on other supplies.

• well telegraphed ESG focus and ahead of time installations such as the lined process water ponds, solar and wind power plants, underground mining with targeted ore extraction (rather than significant overburden removal for above ground operations), paste plant on site to recycle non-valuable material post processing back to the mine space

• very significant shareholding by board of directors and “friends” which will already be seen as a blocking stake to unscrupulous corporate activity and the best bit … I don’t think TG “needs” the cash for selling cheaply…

• Australian government backing via funding in current funding package - plus to what extent do you think our offtake partners will be interested in seeing anything untoward happen to this material supply? Consider the nature of packages that came PLS way during its ramp up phase - recall the pre purchase amounts paid in advance for spod delivery…

So in short … these calls of “sky is falling” are felt in terms of the SP today … but my interest is not today (unlike day traders who can only survive on volatility and influences made to markets).

My views anyway … happy to see where anything of the above is “wrong” so long as that includes references links to verifiable data sources, anything else is mere opinion.