Graphs tell an interesting story. The following are all...

Graphs tell an interesting story.

The following are all "relative" to one another.
1. Market Caps are the closing price as of 29th April using US$
2. For US stocks ... US MC & for TSX & LSE stocks MC is from the OTC F-shares representing that equity their foreign exchange.
3. For ASX stocks it is the closing MC time AUDUSD FX= 0.725
4. Only Measured and Indicated (M&I) categories of MRE are included. No INFERRED!!!
5. NO CONSIDERATION is given to costs or capital intensity. Its purely a resource comparison based on LCE (grade matters).

Split into 3 groups
Group A. Exploration ... companies either still expanding MRE and/or not in production till after 2025
Group B. Developer ... companies actively developing their resource and expecting to become a producer in 2024+
Group C. Near term Producer... companies expecting first production in next 18 months (H2'2022 - 2023)

Charts look as follows. Above the line is "overvalued" to its peer group and below the line is "undervalued"



Which ones would you prefer to own?




Again which ones would you prefer to own? As PLL investors we have an interest in ALL.LSE. Its remarkable that ALL and LLL (the demerged lithium company out of FFX) are both very close to the line ( I did have to estimate LLL based on prospectus as it isn't tradedable yet). VUL looks "cheap" and INR "more expensive. But again caution needs to be applied as co-products don't count (for either). LTR looking more expensive than its African peers ... again "risk" is not factored.



Again which would you want to own ... SYA is right on the line ... PLL slightly undervalued (but for first production share a common resource). CXO looks overpriced and AGY underpriced



Shiifting to look at same data but on how much it costs you the investor to buy a tonne of LCE.



So you are paying more for PLL than for SYA simply due to the size of the MRE. That gap will get bigger as Moblan likely well above pre drill expectations for MRE .... M&I though & not counting Inferred ... and then Ewoyaa narrows it. This graph thoughs highlights the pricey nature of CXO (unless I made an error).

As always DYOR and if it does look right its probably because I made an error ... please let me know.