Seems like lots of angst, conspiracy and criticism at the...

Seems like lots of angst, conspiracy and criticism at the moment. A lot of wild comment that I think is a bit silly TBH

How I see it -

1. PLS is moving from being an explorer to a miner. It is not yet mining. That change is a difficult process and many companies have foundered at this point. It is hard. Despite great plans and skill, the real world sometimes doesn't play fair and things go badly wrong or run not according to reasonable expectations.

2. The future of the Lithium market is something no one can reliably predict - energy storage seems to be the next big game changer but no one is totally sure how this will play out. Lithium is currently the obvious big player in energy storage but there have been other resources and technologies that ushered in a new paradigm and yet have then stumbled. It could be a total game changing bonanza. It may not. Other technologies and resources have been at this point and gone either way, despite yay sayers and nay sayers being convinced of the alternative.

3. Lithium demand for both energy storage uses and in other industrial areas relies on the world economy and order maintaining some level of stability. That is something no one can reliably predict. We are at the mercy of fate there.

4. People want to make money. If there is the potential for huge payoffs, people will scramble over others to get in if they think they may win and will stampede over others to get out if they think they may be in danger of losing. People with big financial clout will use that clout. People in for a quick buck will see opportunities and act. This is what happens on a stock market. The long term price will tend to rise to meet the true value. When there is uncertainty of the true value, the price people pay bounce around reflecting chaotic brownian motion with an energy equal to the level of uncertainty.

5. Given the above combination, the share price is going to be volatile. The board of the company cannot make it stable (or consistently rise) as they cannot really control all of these things.

They cannot make customers buy to a schedule even if the customer was previously showing strong commitment. They cannot control how the Lithium market goes or will go.
They cannot cause the share price to be what shareholders demand just because they demand it.
They cannot make 100% perfect decisions all the time - the future makes fools of anyone who thinks they can.

They can only make sensible and canny decisions given what they know now and expect to happen

The share price reflects what people (both retail investors and big players) are willing to pay at this point. I think we are in for a volatile ride until:

1. We are producing and have overcome the hurdles to get there

2. We see how the market unfolds and who is in the market

If you are a holder, you are gambling on PLS achieving the first and on the second being favourable. Neither is guaranteed.

Criticising the board may be valid if they make clearly bad decisions over things they have control of, however I do not see how the board possibly can make the price be on a steady upward trajectory when we are at this point in the process.

Do not ascribe to conspiracy and evil intent what can just as easily be explained by the randomness of luck and uncertainty.

If you want a solid high share price, play safe and buy a blue chip. If you want a gamble, bet on a company trying to do something difficult in an uncertain but potentially lucrative market. If you want to gamble, don't cry foul if your bet loses. It is a gamble!

Be wary of people who say this stock is a certain winner and the reason the price is low is because of shadowy playing or board greed. Be equally wary of people who say it is doomed and get out know. Listen to both and weigh the evidence and you decide, don't be led by other's fanaticism.

This stock could be a grand winner, we don't know that yet. I personally am gambling on it happening. I could well lose my shirt. Big deal. Nothing yet has made me think the company will tank, similarly nothing yet would make me think the price should be any less volatile than it is right now. I am hanging on for a long and bumpy ride and not blaming anyone other than myself and my judgement.