https://www.google.com/amp/s/amp.abc.net.au/article/103364330
If you read the entire article there are a few takeaways, but the key one for me was that current prices are not incentivising supply (even for ALB which already has a plant but will not go ahead with the expansion). This will take a while to filter through to the supply side but I would expect further curtailments in other global operations including those in Australia. Clearly there is more pain to come before we see conditions tighten to a point where it starts to affect price to the upside.
I would prefer PMT to spend the majority of their cash balance on drilling over the next 2 years, so they can demonstrate scale (arguably can do now) before a DFS which will look better in tighter conditions. I see no point in rushing to permitting at this stage. In a hypothetical scenario where they were capable of entering poduction NOW, why would you do it? Its uneconomic. Theres no rush at this stage.
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Open | High | Low | Value | Volume |
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4 | 70000 | 0.660 |
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2 | 10001 | 0.640 |
Price($) | Vol. | No. |
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0.680 | 19713 | 2 |
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Change
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