Question for Holders, Not for Losers, page-38

Whichever way you look at it, PLS is facing some serious challenges:

External:
Market long-term oversupply, affecting all producers globally.
Product price bubble burst - realistic Li prices now in place.
Competing large global players.

Internal:
Production/plant issues
Too much debt
Management struggling to adapt to the new reality.

On the positive side:
Growing long term demand for EV and Li batteries.
PLS has a quality resource.
PLS is at the production stage (most explorers never get there).

Yes, I agree that there is no more money to be made out of PLS in the short/medium term. I also agree (and have posted before) that the Chinese can pick this up for a song if they desire, and once production has been fixed, they will do so if they need more supply. This means that PLS will either flounder along, not making any money (in which case the Chinese will not touch it) or it becomes profitable and gets taken over.

Unfortunately, PLS management can't hold a candle up to the Chinese, and the Australian government contains many who would sell their mothers into white slavery for the front-page news, so don;t expect any intervention there.