Day to day discussions on S/P, page-24

It's a waiting game now, once cash flow starts in Q3, SP rise will follow.

We all know what Stage 1 can bring to PLS. How about the Cash Flow from DSO?

In December, Lithium DSO 1.2% exports from Australia into China totaled closed to 30KT at total price of US$35.24M. Average price is US$119/T.

Cash All Cost is estimated at around A$80/T or US$60/T.

So the profit margin is around US$60/T or A$80/T, shared between PLS and AGO. AGO said it's expect to generate A$15-$20 Margin, which will leave PLS with A$60/T Margin as the best case scenario.

Let's say after tax etc. NPAT is halfed at A$30/T and 1.2MT is shipped in the first year, we get DSO NPAT of $36M.

Earning of $36M at PE10X will add about 20c to the SP.

Even for worst case scenario, like AGO, we only manage A$20/T margin, SP increase will still be around 7-8c.

Probably the lack of this information is holding back the SP a bit.

DYOR.
Frank.