Feedback from RRS Today

Well what a day with over 330 posts made so far. As with the previous two years at RRS the opportunity to talk with staff from PLS is a real bonus.

The presentation not surprisingly did not tell us anything new mainly because we should all be well informed by now as there have been plenty of good announcements in the past six months. I hope that all investors are aware of the strategy being played out i.e. prove up a great big fat resource and publish a compelling DFS in late August. There are other activities that will flow from these activities including funding and binding off-take agreements both of which should flow from success in proving up the big resource size and strong economics of the DFS.

I met up with a number of other posters on HC including our super posters Blast Furnace and Super Ninja who were just as impressive in the flesh as they are in posting on HC. We all felt it would have been nice if a few others like PF, SOS and Oz could have been there as well. Most of us have exchanged email addresses and can now keep in contact over matters of interest in the future.

There were three of the Geological staff at the show which was a slight change on previous years, so much of our discussion was around rocks and drilling and it was all very interesting and very informative. These Geos are the unsung stars of PLS and George in particular has been up there on the ground for the past two years. Not the easiest part of the world to be working as Pokerface has often alluded to. They are all champions IMHO so I salute their service and accomplishments. Wish I could tell you all something specific that will warm your hearts but I cant. What I can say is that I am as convinced as ever that we are sitting on a huge deposit that will continue to grow throughout 2016. Just how big it will be is unable to be stated accurately but these guys seem to be very confident that it will grow and grow.

Like Ozblue I spend many hours each day researching whatever I can find on batteries and the lithium industry and todate their is no apparent immediate threat to lithium ion batteries. For those who proclaim lithium is in a bubble well all I can say is that yes the demand: supply equation is very tight and likely to remain that way in the next few years. Not sure what the definition of a "bubble" actually is but IMHO it is a throwaway description for many on this thread who hold a contrary view on the future success of lithium miners. Given the forecast low operating cost of PLS when mining I think that we could survive incredibly well if the price of LCE reverted to US$450/ton.

It seems inevitable that in the next two years lithium supply will really struggle to keep up with forecast demand so in the next year or three I think we will see relatively high prices for lithium carbonate and hydroxide. If that is the case shareholders should benefit enormously and the current short term weakness in SP will be seen as for what it is ......an aberation.
Chrs W2