PLS 4.08% 47.0¢ pilbara minerals limited

Day to day discussions on S/P, page-190

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    What gets me excited is that when you do Stage 2 numbers at the PFS production and cost givens, this makes net operating cashflow of $811mA/ annum. So, if you assume 2b shares on issue, after maybe raising a bit to get Stage 2 done, you still must get to at least $4 a share. Then if you add in the other possible downstreaming opportunities and the fact that we are at the beginning of the EV revolution, $4 is probably cheap.

    I smell an opportunistic takeover bid around the corner, but I know the Board know what PLS is sitting on in terms of value. A bidding war and a value sensitive Board should give for some exciting times. In my view, it's when, not if.
 
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