Serious shortfalls predicted, page-6

Ours was an "accelerated" CR. POSCO undertook their CR to fund expansion in December and have now announced its completion.

https://en.yna.co.kr/view/AEN20210115005200320?input=tw

They said they will be using the funds partly to expand their Stage 3 Cathode/Battery parts production and also to acquire raw materials such as Lithium and Graphite.


Interesting times. I noticed from Nightflyer's posts we're still delivering to Gwangyang.

https://hotcopper.com.au/threads/ramp-up-of-next-pls-shipment.5258674/page-553?post_id=49429675


Looking back over his posts, I notice the EASTERN HAWK was loading (30kt dmt) for 6 days. The AAL DAMPIER was loading for 2 days, so I would imagine CY2021's first shipment was ~10kt dmt.

Now he advises the FLORAGRACHT is due on 21Jan21.


@Agp79
Previous quarters announcements have stated AISCs at USD345pt and therefore profitability is implied. The half yearly report is coming in February, which may prove a bit sobering for our share price with another loss ... but notable improvement.

In the coming Dec20 quarterly report, I really want to see full production and projected current shipments of 80ktpq to prove the AISCs of our Pilgangoora plant at ~US$320. Profitability will be obvious. I'd also like to see Stage 2 proceed but that would be a bonus.


However, the half yearly could well be tempered (positively) by a POSCO announcement. They now have the finances together to make a final decision on the JV. All the talk from the PLS BOD has been very positive ... the Chairman, the CEO and the COO in recent months.


The now heart celebrated @wombat777 did an analysis on the POSCO JV three or so years ago. The general consensus here at the time, was that it would add 30c to 50c to our share price. Our issued shares have almost doubled since, so maybe the announcement will add 20c. However, I wouldn't be surprised if the Stage 2 plant is expanded from 40mtpa to something more.

Can we finance it? Cash on hand, profitability, US$50m BNP Accordion Facility plus reserve US$15m credit line, Oz Super backup, keen retail shareholders?

I appreciate the share price is good but jeez there is a lot of scope for advancement in the near future.