WR1 Chart Thread, page-230

It is an interesting idea and I honestly don't know. Lord knows the shorters are just waiting for this to occur.
I would say tomorrow could be D day. I think everyone will be looking at PLS's quarterly. I would say its 20% drop this month has been subtly trying to anticipate the poorer than expected report but guidance/revision of production could further spook the market.

Personally, I can't see PLS being rocked too much. If it goes down to $2 I would be going in quite heavy on my position. Main reason is the sheer money they have in the bank. Over a billion in cash and with agreements that will still make them quite profitable moving forward. They could cut costs like by putting their expansions on ice if need be but to me its still quite solid.

Lets not forget its still 40% down from its peak 6 months, which is in line with how much its Li prices have dropped since then as well.

Its company's like CXO and LTR that are going to have issues. One has poor management and while debt free has poor management, expensive infrastructure and a small resource. While the other still needs to find another 150mill after raising a few months ago and is at a 52 week low, in order to hit their production goal. Which may not even be economical at that time.

Who knows I truly can't see the Li price going too much lower. You would think that should be the base in for all stocks that can keep their head above water.