Citi- SELL rating on PL$, page-404

The POSCO ball is in our court. We only have to say YES.

However, the Calix tech permits a new approach to meeting our offtake obligations. We need to re examine the JV Agreement. Perhaps we can minimise the Stage 2 JV investment by it accepting our newly proposed Lithium Salt product?

Stage 2 is a function of accepting the POSCO JV deal. We could say YES now and both projects proceed.

I set out PLS profitability for last quarter on the weekend:

https://hotcopper.com.au/threads/ann-corporate-presentation-investor-strategy-and-outlook-forum.6053090/page-43?post_id=53170265

We were profitable for the Mar21 Quarter and look to make a more substantial profit for Jun21 Quarter.

Ken has been stating since we began mining that we will be targeting higher grade resource for the first five years. Anyone would. AJM did too.

As it stands, PLS achieve the highest recovery rate of any Spodumene producer. As production improves we will improve recovery, leading into the processing of lower grade ore. The Calix tech looks promising to improve that further.

Our recent drill results included grades as high as 2.76%. The rest graded between 1.55% and 2.35%.We already know (from AJM data) that the drill tests coming that traverse the AJM border will grade between 1.48% and 1.66%.



I expect we will be mining high grade resource for sometime to come.


Also, in the last Quarterly Report conference call, COO Dale mentioned that a lot of land clearing had been put off because of finance concerns over the past 2 years.

This clearing has been carried out in recent quarters which exacerbates the total material mined statistics.