Hi FolksIt's a boring day just ahead of tomorrows March...

Hi Folks

It's a boring day just ahead of tomorrows March Quarterly report.

So I thought I would take just a quick look at the daily PLS chart.

Looks like a fairly simple ABC downward wave pattern that started in early March.
* Downward A-wave 19.5% drop.
* B-wave retracement bounce just beyond the 38% B-wave FIB retrace (fairly normal).
* C wave downward extention in early stages. A sustained drop below 3.70 will bring the potential C-wave extentions into play.

I did some quick modelling of my expectations of the main results of the quarterly report.
* I expect that Shipped 5.3% spod to be in the range 150-170K DMT, Last quarter 160K DMT.
* I expect that $US price for shipped 5.3% spod to be in the range $US 1,030 - 1,130, Last quarter $US 1,113
* Finally an estimate of $AUD revenue for the quarter. Last quarter Dec 2023 $AUD 264m, Last Mar quarter 2023 was $AUD 1,093m.
My estimate for the Mar quarter 2024 in the range $AUD 225 - 275m.

PLS $AUD revenue for the FY 2022/23 was 4.1B.
My expected PLS $AUD revenue for the FY 2023/24 is 1.4B. So about a third of the previous years revenue.

Just my opinions so DYOR.

We shall see shortly.

cheers Lies