FMG is an iron ore miner and they now making batteries.Have to...

FMG is an iron ore miner and they now making batteries.

Have to accept facts. African miners are over supplying the market.
I don't like it as it means PLS keeps falling.

China is investing billions into Africa and selling millions of tonnes per year
for each mine.

When you have a large over supply on anything you get far cheaper prices.
Its how the world works.

In 2022 there wasn't that many mines operating so prices went very high.

Third quarter China will be getting low on stock piles so expect to see a bounce
and may se a bounce in PLS in reporting season to take it to $3.50 and maybe $4
when the spod rises for a brief period.

I am in hold mode as reporting season is still another month away and PLS
might get far lower than even I though 6 weeks ago when it was $3.82 a share I posted
I expected PLS to hit $2.90 and now it has. Back then you were saying it would never get that low.
I still think come reporting time the stock will rise and rise a bit more in the third quarter
before pulling back again.

Must remember Trump plans to place a tarriff of 100% on all EV's into USA when he becomes President again
which means an even bigger over supply problem as that market EV's will be far to expensive to buy.

Have to face facts.