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Message: LAC October Presentation

 

I have just quickly seen the PPT presentation published on LAC site, so just few unsupported decadent impressions of a “betrayed” investor: 

  • Page 3 is outdated/wrong: the share price graph is way too old and the share count in these days is over 90 mil., I remember seeing this figure on September presentation
  • I don’t understand the point about the state of construction. I have not saved the September presentation, but there was mentioned (IMHO), that construction is 52% or so completed/committed, now Evans says, it is “just“ 40%?
  • The presentation still support production start in Q1 21 – however LAC has done absolutely nothing there for past 6 months, so it would be a magic, if Q1 production would be achieved. Lithium pricing is rubbish in these days, so better to keep it underground anyway.
  • My biggest issue is, that Evans apparently does not check https://www.lme.com/Metals/Minor-metals/Lithium-prices#tabIndex=0 otherwise he would not have written the chart about the Net Present Value the way he did. Similar for the EBITA value. With current lithium pricing, Cauchari-Olaroz may still be profitable but just a bit.

Regarding the Thacker Pass – nothing really new in the presentation. Till they get OK to open the mine, no point to debate the economic. To me it looks like they struggle with the factory design. But that is just mine unsupported impression. It is good however, that the share price has not fallen back below $10. Maybe they are buying all the table salt they can to make it “done”.

 


Oct 21, 2020 04:47AM
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Oct 21, 2020 05:18AM

Oct 21, 2020 09:30AM
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Oct 21, 2020 10:09AM
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Cal
Oct 21, 2020 10:15AM

Oct 21, 2020 04:33PM
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