PLS chart, page-33

"where in the hell is the massive over supply coming from?"


Yeah, that's the million dollar question, isn't it?

I found this chart from Macquarie over the weekend showing Spodumene exports from Australia to China. Exports went BOOM around Jul17 and continued until around Sep18 before running out of steam around Jan19.



This chart was reproduced by Tara Berrie on Twitter (who is followed by Rodney Hooper, Howard Klein, Joe Lowry, Andrew Miller and Ken Brinsden, Simon Moores and Chris Berry).

Why is Macquarie bringing this graph out?

The chart projects that's SC6 demand has fallen away. It hasn't. The graph is perverted by DSO demand over the period. The graph show exports of ALL product in this period. MIN were exporting DSO and then us, until Gina took over AGO.

The fact is that SC6 exports have increased 5 fold since 2015 and continue to increase. Ken even said at the RRS seminar that SC6 use in LiOH production has increased 4 fold in the past 2 years and continues so.

The Pilgangoora story just keeps evolving. Forget the share price, concentrate on the underlying story.

Macquarie have a 10c forecast for the PLS share price. Why are they producing a chart like this, which is clearly misleading???