'MIN swooped on the Wodgina Mine assets, held a gun at PLS's head over the 2% Royalty got 8% of the shares in PLS and then before long they had a JORC estimate at Wodgina and not long afterwards they had DSO contracts in place.'
'Do we have the right people running the marketing because the results have been slow to appear??'
'Stepping back for a minute, I don't believe that we can possibly contemplate a DSO agreement until the primary crusher is installed and commissioned and the central pit is accessible for mining. Todate we have not heard ANY useful commentary on that except that they would like a DSO agreement with a suitable customer. If it is not practically possible until say 1 October it would not hurt to mention that to shareholders.'
Cheers W2
Personally, I totally support W2's sediment here.
Some 9 months back all you heard from KB was.... 'we are working on 6 to 8 very exciting offtake agreements, which our shareholders will be very happy about in the not too distant future'...at the time, many comments from SH'ers saying Ken looks like the cat would has got all the cream.....
Does PLS have the right person....sorry a bit harsh, I mean.... the right marketing team executing any strategy....oops, a bit harsh again, I mean 'the/a' marketing strategy.
Seems to me when you think PLS Marketing, how many know the name of the person responsible for PLS Marketing??? Whilst some may say it's KB, who may well be the talking head, his speeches are either self written or scripted by PLS marketing.
Who in my view should be very mindful that when statements like 'a number of very exciting offtake agreements are coming' are comminucated and nothing but silence since....well..... I for one as a SH would like to hear some type of update, actually anything to be honest.
I like W2, believe that stepping back, DSO's, may not actually be the best way forward.
As for the numberous very exciting offtake argeementsnthat are coming and never eventuated with absolutely no updates as to why, I constantly ask myself why?
Those that have been holding PLS for some time, will know about the gun CE from MIN held to the head of PLS, that W2 'correctly' points out, well make no mistake about it, CE is sharp and his gun hasn't been put away despite the 'settlement' annoucement stating MIN are here to 'assist' PLS going forward.
The real message with this post......mmmmmm...CE has quietly been inserting rounds into all the chambers of his revolver.... its no longer a game of Russian roulette... the next time it's... and it will be in my view.... put 'back' to the head of PLS.... it won't be pretty.
I don't believe its the shorters that are currently in control of PLS in terms of the true reflection of the SP, but someone is accummulating.... constantly shaking the tree and holding the SP down.....
I do ask why it is when PLS for all that it appears to be in the Lithium market, PLS should actually make it into the ASX 200 this September but it wont again, why? ....
Takeover!
A ASX 200 ranking next September for PLS means all Australian retail super funds can get in board, which in turn would make it all the more difficult ( but not impossible) for a..... Takeover...
No current propects of DSO argeements (although I do argee with W2 that right now - if PLS was to survive long term as PLS - better not too) lack of DSO makes it very easy for a.....Takeover.
None of the 6 to 8 'very exciting' offtake argeement annoucements bearing fruit...... makes it cleaner for a......Takeover.
Is PLS nearly fully 'de-risked', I believe so.
Is someone sitting back happy for a lack of PLS marketing, boxes getting ticked, no DSO or additional offtake argeements, a financing deal deal (weighted to the insto's) with relatively easy exit/refinancing options under another name......I think so...
Why...... well I'm sure if you have read this far, you would know what I think.
PLS Price at posting:
38.5¢ Sentiment: Hold Disclosure: Held
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