PLS 5.66% 75.0¢ pilbara minerals limited

The shorters had to come in and protect their turf or it could...

  1. 366 Posts.
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    The shorters had to come in and protect their turf or it could have become a runaway train bringing in massive losses they can't pay. Their only choice was to sell some more.

    Wodgina is a 234 MT resource @ 1.21% Li2O. It was valued at $1.15 billion for a 50% stake excluding iron ore and tantalum by product. PLS on the other hand is a 226 Mt resource @ 1.27% Li2O with 116 ppm ta2O5. I don't think that the buyer who lost out to ALB in the Wodgina deal would make the same mistake as it is the last resource of this size on the market. I would therefore value PLS at least US$3 billion or A$2.3 per share... an upside from current levels few will be able to ignore.

    The writing is on the wall..... shorters don't have six months to cover their positions.
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