Lithium, page-30

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07/02/17

10:19

Post #: 22418738
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Originally posted by ozblue ↑

Hi Binwood, you are correct, two weeks ago I did have a doubting time, but with ESR going into self destruct mode, basically a con, and KDR having problems of petalite instead of spodumene, plus Mt Marion going down to 500m deep to get their full resource, we are back to only the 2 largest (current) lithium (spodumene) discoveries being in WA.
Perhaps the one in Africa will be larger than both, but that does matter little.

There obviously lots of large spodumene discoveries still to be made, but it will take years to find them at the rate we are going, with the 'promising' ones falling by the wayside.
I had a look at another 2 today in Australia, one often promoted here, but when you do the maths on the size, it is just another small one so far.

So again doing the numbers, and Pilgangoora sticks out like a sore thumb as an asset worth so much in the near term.

I am quite frankly staggered that we have not had the binding offtakes and the financing all organised by now. So many Chinese companies are going to need the product that comes from us but are obviously playing hard to get, or some other game.

It is just as well ESR blew up on me, I needed to come to my senses, and will put both dollars I saved into PLS when it comes back again, as we seem to be doing another retrace.

Malmanu, there is a video on the internet of the new LGChem Li-on batteries with a nail being driven into them, and there is no explosion and the battery keeps working, so I think there are ways around the thermal runaway issue.

Also apart from the video you showed using lithium metal, that battery is extremely dangerous. There is a reason why lithium metal does not occur naturally, that is because it is extremely unstable, and upon contact with oxygen will form Li2O and give of heat, very quickly. So the good professor is changing one thermal runaway problem for another. Not a smart thing to do.

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12m sell/4m buy would suggest a flight out by many holders. Oz can you give us an indication of the current holdings of our club? Is it stable or do you have notifications of sell downs? Your truthful answer would be appreciated.

PLS Price at posting: 51.0¢ Sentiment: Hold Disclosure: Held
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