Whats your value on PLS? If there was prospect for material revenue growth I would be supportive.Even with the integration into the downstream refinement I struggle to justify anywhere near current valuation.
Valuation at $5.60 odd was fair given where Spod prices were. But now in early 2024 and looking at likely revenue, (and limited prospect for growth) its not enough to justify a $3.80 share price. Mid $2 or so seems fair, with below $2 starting to look cheap.
The entire lithium sector has been slaughtered, and PLS wont go bankrupt, they are arguably the best placed to survive it given their margins and size, but still too expensive today.
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