Most lithium mines have halted infrastructure spending due to the massive slide of the price of lithium and spod.
The price is so low now that its not worth getting out of the ground.
The big companies use their brains and stop all infrastructure spending.
PLS does the opposite even when they have no customers to buy their product.
A40 was selling more than double what PLS does and they have folded.
PLS debt is massive and their high interest rate on their debt is very high at 12%.
They are not even running any profits. 5 years of racking up debt.
ASX likely to de list them from trading and a default is the likely outcome.
I expect PLS to end soon then GXY not long after due to them having so much invested in A40.
Why do these companies make so many major mistakes.
I classify these stocks as lotto stocks. Get in early, make money the get out before it all caves in.
(20min delay)