PLS chart, page-4779

Hi bn. SQM is hampered by much low quality lithium that needs reprocessing and they have low locked in LT contracts. Add to that doubts about their continual delays in expansion, Chile political issues and ongoing environmental concerns, it explains the current share price.

I could go through each of them in turn and raise possible reasons, but you get the gist of it by the first.

As far as Oz briners and African plays running, well a day of reckoning will come, but that doesn’t mean we cannot take advantage of the run while it lasts.

When the sums are calculated on the likes of PLS at current and expected lithium prices, the share price rerating becomes obvious and our path to expansion is a lot easier. The upgrades by investment houses are founded and very very behind time, IMO.