The market is forward looking, the PFS is an historical document.
The DFS was completed using parameters of 2mtpa and a spodumene concentrate sale price of $450p/t.
The market is now pricing in the high likelihood that the DFS will use a plant capacity of 3mtpa or more, and include price sensitivity analysis. (e.g. GXY has an off-take price of $600p/t for 5.5% spodumene concentrate)
Expect the DFS to report NPV's well in excess of $1Bn.
Major institutions have already figured this out and are buying at lower levels.
What this might mean is that there possibly won't be a massive SP move after the DFS release, because it's results will have mostly already been priced in.
Cheers!
PLS Price at posting:
70.5¢ Sentiment: Hold Disclosure: Held
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