PLS fell over -6% yesterday underperforming an already weak lithium sector e.g. Allkem (AKE) -3.9% and Core Lithium (CXO) -2.6%. Our view towards lithium hasn’t changed since our Resources into FY24 Webinar i.e. it’s a crowded space that is more akin to tricky chemical processing as opposed to traditional mining and certainly not one we would advocate chasing into strength.
- We prefer to play the EV & ESG theme through either copper or a company that’s not totally lithium focused, until better risk/reward presents itself.
MM is neutral toward PLS
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