Price action post Ann, page-15

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Siva108

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02/04/19

05:05

Post #: 37958027
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Originally posted by vmp: ↑

I’m not surprised JPM is putting this downgrade out. It looks like my second thoughts is corroborated by the downgrade, I have huge doubts selling a portion of PLS is the right move at this time. PLS is like a one year old baby has barely learned to take its first steps, has not even reached S1 nameplate and now wants to do a sprint. This will likely hurt the company mid to longer term, I’d be happy to be proven wrong. The market will not be impressed even if PLS will get $1b cash injection. The market will value PLS based on earnings in the near term not on cash in bank or production that don’t happen within a year. Just look at Gxy with $0.4b cash the market is not impressed. Also MIN SP is back at a level pre-wodgina deal with ALB. I think many of us will be disappointed if we expect some sustained re-rate after the sale. I’m disappointed, I’m considering to reduce whatever modest holding I have because of this move by KB. I won’t be surprised if 50 cents come sooner than $1.

I would have preferred that PLS take a gradual growth path while the lithium price is still subject to confusion- let’s
-prove to the market the profitability of S1 at nameplate - S1 is not small anyway
-execute S2 in 2019 as it has been funded and achieve nameplate in 2020
-wait for various EV models released and meanwhile starve customers, let them come do a deal on bended knees, teach the market a lesson to sustain SC6 prices rather than seeing the quarterly SC6 price declines while doing the right body building regime to grow our muscles (financial and size of resource) and win the Mr Universe title in 2021. (Rushing things is fraught with much danger)
-Between now and 2021, PLS would likely be earning ebitda of $300-$400m at $5-$6b mcap even without selling 20-49%, even higher mcap if the posco JV eventuates. By then expansion will be more flexible- whether go much bigger or otherwise will be dictated by market conditions.

As I said I hope I’d be wrong. But even highly credentialed CEO’s make horrendous miscalculations as shown by multi-billion dollar write downs in a long list of corporate deals gone wrong.

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Seems like half the posters on here work for JP and MS!

PLS Price at posting: 74.0¢ Sentiment: Hold Disclosure: Held
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(20min delay)
Last $2.93		Change -0.160(5.18%)		Mkt cap ! $8.823B

Open	High	Low	Value	Volume
$3.05	$3.08	$2.91	$69.76M	23.57M

Buyers (Bids)

No.	Vol.	Price($)
22	294361	$2.92

Sellers (Offers)

Price($)	Vol.	No.
$2.94	3706	2

View Market Depth

No.	Vol.	Price($)
22	294361	2.920
23	509889	2.910
62	352638	2.900
11	84590	2.890
17	116307	2.880

Price($)	Vol.	No.
2.940	3706	2
2.950	1900	2
2.960	17700	3
2.970	44051	6
2.980	262211	8

Last trade - 16.10pm 19/11/2024 (20 minute delay)

PLS (ASX) Chart

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