Good News & Bad News, page-9341

When we hit our ATH of $1.25 in Jan18, we had 1.6b issued shares. After the CR is completed, we'll have ~2.9b issued shares.

So, adjusted for issued shares, our ATH is actually ~69c.

However, we also acquired Altura which was often valued rule of thumb as 1/3rd of PLS. So accounting for that, our ATH is more like 92.4c.

However, we hit 93c the other day, so by my reckoning 93c is now our ATH.


Our share price seemed to decouple from ORE and GXY yesterday. We had an up day while they fell. Something else was driving our share price yesterday. Today it reversed. It was like the Instos and Fundies generally, traded to correct the decoupling today.

Pure speculation on my part but other forces apart from the market generally are impacting on the PLS share price. While today may feel disappointing to finish red there seems a lurking positive.


Nightflyer's shipping posts appear to support that we have achieved sales guidance for the quarter. His most recent post of a ship arriving on 4Jan21, is encouraging from a Mar21 quarter sales guidance point of view.


The recent investor presentation outlined the 12 month plan to review and improve the Altura acquisition. It most notably also stated, that its output will be targeted to some party who will participate in downstream activity with us.

I'm hopeful of a maximum output sales guidance being declared in the Dec20 quarterly report for the coming quarter. Also, costing targets being achieved.


The recent investor presentation also spoke of Stage 2 still being in focus when/if POSCO gives the nod. A US$40m "accordion facility" being in place courtesy of BNP/CEFC, presumably to help fund it. Stage 2a can be completed in 9 months and add 100ktpa to production output.


The share price is moving like a poker machine in paymode. However, its what's bubbling underneath that really counts.


The Chinese still have a nice little dam built at Stage 2 in the EV chain diverting profits. Most commentators forecast that it won't change until 2022. The recent share price urge is more about smart investors getting set. Patience is key.


The recent IGO purchase of 24.99% of Greenbushes underlines PLS's true value. What would a reasonably prudent purchaser pay for PLS in todays market? Also, what of Mt Francisco?


2020 was a great year! Three months ago we were 30c, now we're 87c. We hit our (adjusted) ATH a couple of days ago. What's not to like?