To be accurate, GS's target price for PLS is $2.90. I think I...

To be accurate, GS's target price for PLS is $2.90. I think I have posted this before. As much as Goldman Sachs have been talking down the lithium outlook and even downgraded PLS to SELL on 14/1/24, did you know that GS became a substantial shareholder of PLS on 24/1/24? They obviously have an agenda, as do some people here. I would never tell anyone to sell or buy or post financial advice, except my personal view:
I think medium and long term, lithium demand will exceed supply. We can already see demand increasing now. Albemarle just auctioned 20,000t of spod today at USD1300/t, way over the current spot price. Customers are even interested in CXO's fines again. PLS's customers extended/increased their offtake agreements. All good signs for price recovery.
As for cxo, I believe it's still a viable project. It's always difficult for a startup and they were unlucky with the downturn of the lithium of price at the early stage of production. If the price didn't crash as much, Grants would have easily generated enough cash to complete the development of BP33.
As WTT outlined, it is unlikely cxo will not restart and complete BP33. They have done most of the hard work. The remaining mining cost of Grants should be significantly less than before. A lot of the BP33 developemnt work has also been done.
Now we just have to wait for the price to keep recovering. But the uncertainty of when to restart is no good for our SP. Yes, cxo needs to get their act together, find a new ceo and annouce a restart date, then we can go forward again.
Best of luck to all long term holders!