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PLS - Pilbara Minerals

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explod said:
Going very well with this at the moment, one of the best stocks I have ever held.

Lithium price looks like moving up again and there is apparently a big shortage for car batteries.
Click to expand...
Not to mention grid scale batteries, I would guess there will be a lot of demand in the near future.

Why 2024 will be the year of the big battery

This year is set to be the first in which the capacity of new big batteries starting construction in Australia exceeds the combined capacity of new wind and solar farms.
www.afr.com

Big batteries are emerging as backstops to a faltering energy transition that can help avoid blackouts, balance supply and demand and smooth out volatile prices to a surprising extent that is only just starting to be captured by official projections.

This year is set to be the first in which the capacity of new big – or utility scale – batteries starting construction in Australia exceeds the combined capacity of new wind and solar farms breaking ground, according to data from Rystad Energy, a consultancy.

By the 2026-27 financial year – three years away – Rystad expects the aggregate capacity of utility-scale storage operating in the grid, under construction or at the pre-construction stage to exceed 10 gigawatts.
 
does this work ? taking a risk, but worth a try?
.
PLS is poised to reinvigorate the market for spodumene concentrate as it gears up to resume its auctions early next week. The move comes as the company seeks to leverage price dynamics to stimulate demand in the lithium sector.

Having orchestrated the Battery Material Exchange (BMX) auctions successfully in 2021 and 2022, Pilbara Minerals pivoted to a future price-based system in 2023. However, in light of market shifts and waning demand, the company is returning to the auction model to recalibrate pricing and demand dynamics.
 
Dona Ferentes said:
does this work ? taking a risk, but worth a try?
..
Click to expand...
Pilbara Minerals said it accepted a pre-auction offer for spodumene concentrate — a partly processed form of lithium — with the buyer paying the equivalent of $US1200 a tonne.

The online auction for the 5000 tonnes was scheduled for March 18, but the company said it “received a number of pre-auction offers”. The miner last held an auction at the end of 2022, with a winning bid amounting to $US8575 a tonne, Bloomberg reported.
 
That is indeed a big fall and hard to manage as a company
 
PLS is one of my picks for the 2024 stock tipping comp. Has not gone great but is one of the more speculative shares in my selection. Need lithium prices to move up to get PLS moving a bit more

Iggy
 
30 March. $3.83. -3.7% YTD.
The problem child of my 2024 picks.
Price volatility a feature so far in 2024.
Market depth is with the Sellers atm.
The TA is doing it's best to form a basing pattern.
Patience for now.
 
28 April; $3.80; -4.5% YTD
Although market depth is still with the sellers, nevertheless the TA says to me..patience.

I noticed Vanguard Group re-confirmed their Major Shareholding (@ +5%) during April.

PLS March Quarter FY24 -Activities Presentation to market on 22 April:
whilst the received prices were a little less than expected, and they burnt some cash - nonetheless the company is advancing well with their projects, and firming up the supply offtake agreements.

Check out the demand curve lifted from the quarterly activities report:

 
Giday peter2

Just a query.
My understanding is the days to cover in the above pic of yours calculated on existing short holding quantity and the average daily volume to calculate the days. The issue with PLS is the daily volume usually doubles when the shorters hit it.

Do you know if there is an ASX time limit on how long they can "hold" shares that have been sold short ?

Cheers.
 
The data in this list is 4 days late (delayed). The ASX does provide more up to date stats in another place.

I'm unaware if there's any time limit imposed on shorters who "borrow" stock. IMO the borrowed shares are able to be recalled at any time and the borrower must give then back immediately. If this stock can't be replaced from another source (through the brokers back-office) then the shorter must close the trade by buying what they've already sold.
 
One of my picks in the yearly comp, PLS is starting to trend up again. Time will tell how far it will go but would be great to see a lift in lithium prices to boost the share price.


Iggy
 
The price of PLS is plunging lower to the recent lows. There's a good buy zone at 3.2o - 3.40.
This is indicated by a number of TA mechanisms.

The A-B = C-D target level.
Prior swing low levels at 3.20 - 3.30.
This level is at the 50 - 62% buy zone in the weekly chart (not shown).



I'll be waiting for a reversal setup to form first so that my initial risk is known.
 
I like PLS as well for a swing trade shortly , thinking last week June might be the spot given we close to levels where most buyers last 2 years are underwater so potentially a decent tax loss sell . Price imbalance and with a touch of luck a short squeeze July/Aug .
 
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