It seems to me that everybody is panicking: lets just consider the fundamentals for a moment.
Oversupply: I don't think so, my view, Chinese, running down expensive stockpiles of Li.
Price falling so no need to re-stock yet, cheaper next week/month.
Weak Demand for EVs: to a point, higher interest rates and withdrawal of subsidies in some markets, taking the gloss-off sales.
Weak Li Price: Endangers many would be miners & explorers, projects postponed cancelled.
Future Supply Side: Constricted a few years out.
Result: Higher Spod. prices.
In considering the implications for PLS: None.
Strong Balance sheet.
$3B cash, that should be generating around $150m. in interest.
That will keep the costs down.
MC $10.645B.
$3.339B cash (From Padley's Stock Box)
PE 4.7
Profit margin 59%
To take this to absurdity:
The SP cannot collapse much further as next year cash could be closer to (say) $5B
You can buy the company with its own money.
I've said it before, with 20% short this is very dangerous territory.
Private Equity, Hedge Funds, etc. are running the numbers, that's massive up-side short covering pressure.
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Open | High | Low | Value | Volume |
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Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
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Price($) | Vol. | No. |
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No. | Vol. | Price($) |
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3 | 63131 | 2.890 |
5 | 452974 | 2.880 |
5 | 143010 | 2.870 |
4 | 99050 | 2.860 |
Price($) | Vol. | No. |
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2.940 | 170199 | 9 |
2.950 | 55937 | 9 |
2.960 | 5000 | 1 |
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2.980 | 194022 | 10 |
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