PLL General Discussion, page-2517

Just released from Hayden Bairstow at Macquarie Bank



If he's concerned over PLL then he must be outrighted shaking in his boots over most (all?) other newly commissioned spodumene projects (e.g. SGML, SYA, CXO LTR) or those targetting near term development (e.g. LRS and most of the remaining WA projects)

He is accurate though on the "call" option in that PLL captures 100% of the margin above $900/t (SC6). However, it does show "immaturity" in understanding of PLL's OTA with say TSLA that is not based on the SC6 benchmark (and nor will it have China VAT or high shipping costs).

His commentary on Ewoyaa though would have to be a concern. We've had PLL CEO and Atlantic CEO indicate changes (due to low pricing and slow permitting progress) to the Capex cadence and the removal of modular units (and the Capex that goes with them) to get early cash flow because of low price.

I didn't see Hayden or Macquarie Bank among the attendees on the conference call where questions that fit into those areas of "concern" were "asked and answered". I guess maybe 10pm at night is to late for Macquarie analysts in Australia.

Queue the visitors expected arrival.