PLS 0.00% $3.11 pilbara minerals limited

Good News & Bad News, page-42743

  1. 18,107 Posts.
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    Pilbara made the strategic decision to shutter the project when lithium prices collapsed. It did NOT have $1.8billion in the bank to see it through that time and that closure is one of the reasons it does have the money now.
    MIN stopped development at Wodgina during that price cycle and so did others.
    This current ‘sting’ was forecast by plenty of analysts (although maybe the timing was a bit earlier than they expected) (as an eg check the last raise informatiob at Altura before it succumbed to administration) .

    I don’t support theories Ken left due to his forward vision being blocked by others. The man had achieved glory and made a motzah of cash and looks to have been quite tired or even ill during part of the journey, and he has family demands and may not have wanted to do the’ same old same old’ any more!
    And as far as the idea of some kind of Australian cartel of lithium producers limiting production now and not supplying into a ‘glut’ market goes, doesn’t PLS have long term important customer supply relationships ?

    I have not been watching much of late since selling my shares on the technical prognosis of a respected TA analyst a while back, but hope to buy PLS again - at some stage when the timing works for me.

    cheers
 
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