I think i can explain this. The SP at $5.00 - $5.50 last year...

I think i can explain this.

The SP at $5.00 - $5.50 last year was when most if not all Lithium stocks hit their peak in true FOMO fashion based on spot prices and the BMX auctions. The FOMO view was that those $7k - $8k would be maintained or keep going higher due to the 'deficit narrative'. As those spot prices fell, and most of the other Lithium stocks retraced with not so great news every stock fell including PLSHowever PLS kept laying down the punches with good announcements in that time meanwhile generating millions a day (divvy announcement, Calix, P680, P1000 FID, POSCO JV resource expansion etc).

So now based on current pricing we're probably closer to fair value (still think we should be at $6 or $7) as opposed to FOMO value last year. Our saving grace has been we're in production and executing and mostly derisked and only subject to external factors such as Li demand and pricing. We're about 10 - 15% off ATH.

Compare that to every other non producer Li stock (who are down by 60 - 70%). When you put in that perspective we're pretty resilient (so far). When and if prices do turn though we will rocket up as we then have actual production volumes, a fair share of chemicals margin etc - all whilst picking up divvies along the way.

@Timber7