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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Last
$2.98 |
Change
-0.020(0.67%) |
Mkt cap ! $8.972B |
Open | High | Low | Value | Volume |
$2.92 | $2.98 | $2.90 | $38.78M | 13.16M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 15056 | $2.97 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$2.98 | 89928 | 9 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 11000 | 2.970 |
2 | 5067 | 2.960 |
1 | 7500 | 2.950 |
1 | 10000 | 2.940 |
4 | 11699 | 2.920 |
Price($) | Vol. | No. |
---|---|---|
2.980 | 31000 | 3 |
2.990 | 28400 | 2 |
3.000 | 113777 | 14 |
3.010 | 8821 | 3 |
3.020 | 135253 | 6 |
Last trade - 16.10pm 23/08/2024 (20 minute delay) ? |
PLS (ASX) Chart |
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