NM,Back 3 months, due to a nonsensical forecaster (never heard...

NM,

Back 3 months, due to a nonsensical forecaster (never heard from again?), we lost our debt package.

We got another, in part because spot lithium prices started to move. They have now risen around 35% since we lost the first debt package.

I cannot yet see any material supply side response to that price shift, and nor did I expect one. Generally, that takes a fair time. Importantly, Chinese lepodilite, or whatever that crap is called, is not seen as being responsive to even the latest price. We may never see that dirt again!

For KV, leaving aside a 6 month ramp up period, that sort of revenue shift in USD makes a massive AUD margin uplift. Importantly, it sets the scene for materially lower working capital required during ramp up, and a much more positive first year or 2, given fixed, largely AUD based opex.

Yet we have seen only a pathetic rise in the LTR share price over that 3 month period, maybe 22%.

Given the underlying progress which continues at KV, with on time and on budget production seemingly only weeks away, I would have to call that a very tightly wound spring.

Good luck shorters, not!