LRS General Discussion, page-17650

Macro and dashboard update:

Macro:

- Many of the major Li companies have charts suggestive of a bottom being formed (PLS, Ganfeng, BYD, Tianqi, ALB and LTR all had generally positive weeks and have left their 52 week lows behind .... at least for now).
- Chinese carb futures on the GFEX are pretty weak right now, but equity prices don't seem to have reacted much to this data (although north american stocks on Friday night were red, so I'm assuming ASX Li stocks will follow suit tomorrow).
- Short positions are still largely at ATH's across most of the majors. PLS @ 21.5% is enormous. The LTR position is also one to watch. North american short positions are at relatively high levels also (ALB (12%), SGML (9%)
- Brazil Li stocks are looking very strong over the last 2-3 weeks (which seems to be due to Sigma's very strong performance over the same period). Sigma performing well = very important for the LRS share price, I will try to post a comparison chart showing the correlation.
- A few of the worst performing stocks managed to put a small gap between Friday close price and 52 week lows (CXO, GL1, SYA, GT1). None of these moves will be very convincing unless they put in a few solid weeks - CXO in particular looks like an exceptionally strange move given theyr're effectively on C&M with no reopening date).




Dashboard
- LRS continues to trade around one quarter of Sigma's valuation (hence the importance of Sigma continuing to inflate their market cap (i.e. one quarter of a $4bn market cap is $1bn versus one quarter of a $2.8bn market cap is ~$730m).
- As of Friday we are trading at 20% of the NPV recorded in our PEA ($3.6bn).
- There are zero stocks anywhere close to reaching a new 52 week high. If I had to name the 3 most likely to reach a 52 week high I'd say LRS, WC8 and WR1 have the most hope.

- Lrs