I have no idea, spod prices will drive PLS's value over the next...

I have no idea, spod prices will drive PLS's value over the next 12 months. There's couple of members here, much smarter than I who have very recently put together those metrics, estimating net income based on spod at US$1,250, which wont be brilliant outcome, but still profitable. I believe PLS will remain a popular trading plaything for the BEOT, and thus, they can somewhat take the sp where they like, regardless of funnymentals.

It is hard to compare PLS and LTR, as PLS is a producer, with a very good execution track record to date, they have 5 years of IP under their belt, sitting on a mountain of cash enabling them to bring on number of expansion, plant improvements to drive lower opex/sustainability and product diversification initiatives over the coming 2 years.

Wrt LTR, they are entering high risk period of development (execution and ramp to nameplate), they are not producing any income and opex will be high throughout the ramp. They have 3 major offtake agreements (LG, Tesla and Ford taking 75% of LTR spod capacity), however, will any of those offtake partners have ramped and qualified conversion capacity, thus ready to receive LTR's feedstock between mid 2024 and 25 CY. If not and even if contracts are take or pay, what are the options, is there actual customer demand for that material by Sep 25, are those customers currently proficient in converting spod to chems today?

I see a multitude of risks including the normal execution risks for LTR over the coming 2 years, for which will attract a short seller campaign, if not already underway, hence my comment wrt a sub $1 takeover, maybe PLS will have a crack, having said that, PLS really don't need more spod...