It's a reality that Phoenix made very clear to its shareholders well before the price peaked. Don't expect those crazy prices to last. They were originally talking about doing their FS with an $18,000 Li carbonate price. A small fraction of the current price. They are realists unlike investors in LKE and or VUL buying near those stocks highs. LKE still has a mc of $647mill at 45.5c after peaking near $2.80! I'd prefer to be in Phoenix in USA rather than LKE in Argentina. The correction is reality but the price still provides a very big margin to current producers. PLS mc is $11 billion. That's a reality too. phoenix will come in at a valuation many multiples above what we paid and if it goes to IPO rather than being bought out and offers good value, I'll be buying more. I don't think that will happen but we'll see.
