Charts is clearly bullish Looking next to Albemarles recent stake in PMT at $1.75, then the inside 'cup rim' at $1.82 with the rerate of tier one deposits going on
Undoubtedly Albemarle and Ganfeng have just shaken up lithium company valuations given they made revealing moves on tier one projects. Albemarle t/o offer revised up for Liontown, and Ganfeng's 5% stake in Leo Lithium. Using those valuations loosely and taking in consideration Corvettes natural advantages over both those, Ken Brinsden's words immediately came to mind regarding lithium deposits that have tier one scale (100mt +) & grade being globally 'rare...and very very valuable' as they enable the capex and surety of long duration supply contracts essential by large car manufacturers, battery makers etc. Extraordinarilly, Albemarle has just made a bid for LTR paying double present sector valuations per tonne according to The Australian Financial Review
These two are essentially 'insiders' who are upending the false narrative that lithium demand is not here, and theres an over supply, that the structural decarbonisation thematic is on 'hold' lol. Evidently Joe Lowry was right thats lithium price is disconnected from demand and been engineered that way through various mechanisms principally chinese interests. It started with Chinese policy change on EV subsidies, CATYL & BYD benefiting from controlling chinese lithium pricing their biggest cost. Also has effect to disincentives new investment into the sector at exploration level and also make acquisitions by well funded chinese entities on more attractive terms as they scour the globe for lithium deposits. On top of this and specific to PMT, sophs in possession of PMT warrants possibly linked up with a short seller attack not long ago that required an official response from management. Nonetheless, Shorters did well and assume they've got their fill.
CV5 MRE proven to be globally significant and likely to grow in itself yet only one deposit in district scale Corvette project with CV13 being drilled now and CV9 mid Sept I believe, results from Summer drilling campaign and updated CV5 MRE in the pipeline anticipated soon
Just wanted to give context to the reasons underpinning the bullish chart as I see it and why the rerate should continue
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