Hi cantankerous. To answer your question, I’d say you would need...

Hi cantankerous.

To answer your question, I’d say you would need the context of the whole conversation/interview.
Dale appears to be a very competitive individual and nobody’s fool.
I like that.
It would make sense to position PLS in these early stages, as a first mover of scale, to minimise any other competitors desire to obtain market share and therefore eating into PLS profits.
It is not a charity.
Size matters in the resource sector as can be seen in the iron ore business with a moat being created to prevent anyone else entering.
BHP, RIO, FMG and VALE have market share with low cost production and therefore can weather the cycles that come and go.
PLS do not want to be like some of the lithium miners that have gone into C&M waiting for prices to rise to be able to be in production and to be profitable.
Eat or be eaten.
PLS has made strategic and wise choices that have been successful while surviving a downturn that could have been detrimental if it wasn’t for the management team.
Best in class, imo.

T.