Yeah AJM management did pull out the Vaseline and used it on PLS with the cap raise of $23m to get the long lead items now and get the DFS out then get the rest of the Capital/Debt/ Offtake Agreements upfront payment. They need to get a move on the offtake agreements and they gotta pull something magnificent from those agreements or they have been outplayed by next door. 1/4 the resource and better terms and not as much dilution.
But cash is cash in this game so they were given the chance and they took it now lets look past this and look at the execution on the project. Anything under $1 and i will be seriously pissed off at the effort.
My theory is that there are sharks circling and management have gone dark on announcements to not show all the cards Eg Drilling Results / Upgrades to get to the DFS and get something close to the project financials and then go from there. As if there was too much blue sky shown now we could be T.O and game over before we know it. Chile is pushing hard to get SQM out so there go some lithium supply so the market will get even tighter and companies will get even more desperate for product.
PLS Price at posting:
68.0¢ Sentiment: Buy Disclosure: Held
(20min delay)