LRS chart, page-6287

It's going to be a very interesting 2 week period for LRS.

The bullish outlook is that LRS now 30% off recent high, which you would have to think would limit any downside of any potential 'sell the news' event with the PEA. Especially given most credible project financials I've seen seem to show an NPV for Colina anywhere between low $2bn's to high $4bn's with production now forecast at less than 3 years away now. If you give apply a standard 50% risk discount for a 'post-PEA developer', even a 40 cent cent share price (~$1bn mkt cap) seems fairly reasonable.

Will the market really sell down a developer even further than the current $775m mkt cap with one of the fastest hard rock paths to production in one of the lowest cost jurisdictions?

On the flip side, the bearish scenario to consider is that the PEA comes out and is 'impressive' but the market just says 'Li prices are weak and therefore very few buyers of LRS appear.

If the bearish scenario plays out, then the question becomes at what SP the market carves out a bottom (which I fully appreciate is like trying to measure a piece of string).

I guess it's all eyes to the daily SMM Li price update and share price movements of big players like PLS (as you say).

From everything I've read, Lepid and DSO operators are already loss making at these levels and therefore unlikely to be contributing to much supply. If PLS shuts off the tap, then I have to imagine only one outcome can be possible before christmas.