This chart speaks a lot.
AJM and PLS's has tons of inventories because not all their offtake partners are tier 1.
AJM's offtake with JRO was a joke. The other offtake with Lionergy is also very dubious. PLS offtake partners are better.
JRO is a good example of a garbage company buoyed by the lithium boom bubble and Chinese government subsidies. When it fell disgracefully, we all saw the damage to the Aussi partner.
MIN on the other hand, is shipping 30kt of spodumene out from port of Esperance to Ganfeng every month.
A lot of people seems to think Jiangte is a strong player in the lithium space, not true at all.
- Jiangte only entered the lithium business during the lithium rush in 2016 -2018 period.
- Recent news in Chinese
Jiangte
- Major loss in 2018, 1.6 billion CNY. More than the entire amount of profit that the company earned from 2004 to 2017 combined (0.87 billion CNY)
- Receiving inquiry letters from Shenzhen Stock Exchange.
- Share price also dropped more than 75% from its 2017 height
This chart speaks a lot.AJM and PLS's has tons of inventories...
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