Ramp up of PLS s 3rd Ship......, page-3

Cash is starting to roll in and a rerate coming soon, we see 1) PLS->Atlas ships heading out with mIne gate DSO, 2) PLS Tantalum bags getting picked up at mIne gate, and 3) more ships with our 6.2%+ Li Spod. I would predict larger Ganfeng ships dropping by shortly for combIned PLS+AJM Li Spod (50,000t+), as rampup above the now 60% continues on track. I could imagine also smaller ships of sample Li Spod heading off to our stage 2 partners too, Great Wall and POSCO say 3,000-5,000t each. Now that the Stage 2 FID is announced and approved, discussions on pre-payments/funding and also the POSCO Lithium Hydroxide plant JV will be on the table, nice one. Go PLS and well done to all long term holders. All IMO DYOR.