This reminds me of a few years back when coal was being talked about as a “dying commodity”. Not long after that the price went skyrocketing. Sodium batteries, hydrogen, yeh maybe one day but lithium is going to be needed for a long time yet, just like coal.
WC8’s drop is purely related to the lithium price cycle in my opinion. Let’s not forget the price that was agreed on for azures 60% stake in the Andover project. That investment was made knowing that a big percentage of all profits from the mine will go to someone else. Think about that.
WC8’s market cap is around $466m (that’s with the company having $100m in the bank). Anyone that thinks this thing is overpriced has the memory of a blow fly. my money is on PLS making a play for WC8. The board would be silly not to with Tabba Tabba being about 30 minutes away by road train.
WC8 Price at posting:
39.0¢ Sentiment: Buy Disclosure: Held
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