PLS had a negative cashflow of A$362m in FY24 Q3. This was split between CAPEX of A$170m and a negative operating cashflow of A$192m. I suspect FY24 Q4 will also have a negative cashflow but maybe not of Q3's magnitude. Expansion plans require cash and if PLS's cash balance continues to decline they will likely have to reduce their expansion plan ambitions. Also it would be fiscal madness to introduce additional SC6 volume into current market as this would put significant downward pressure on the SC6 price in all ready oversupplied market. This would not be a sensible economic strategy.
The current weak market fundamentals and negative technical indicators all point to a continuing decline in the share price so I suspect we will see A$2.00 sooner rather than later. Perfect environment for a short trade.
IMO
Spodumene Prices, page-4413
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Last
$3.15 |
Change
0.040(1.29%) |
Mkt cap ! $9.480B | |||
| Open | High | Low | Value | Volume |
| $3.16 | $3.18 | $3.12 | $71.90M | 22.82M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 112482 | $3.15 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.16 | 320783 | 6 |
View Market Depth
| Last trade - 16.10pm 25/06/2024 (20 minute delay) ? |
| PLS (ASX) Chart |