Lithium names/AKE/PLS/IGO

The lithium names PLS (Pilbara minerals) AKE (Allkem) IGO (Independance Group) have not really sold off yet, no matter how it might feel. They are clearly “pricing in” a material recovery in lithium prices.

You can argue that the fundamentals changed over that time, and so a shorter run index is more appropriate. In which case Pilbrara still stands out.

Update to this note, really shoe-horning two different notes together.

The problem with this graph is that no-one has any idea where it should wind up. CEO commentary on spodumene/lithium-anything has become pretty glum (Allkem CEO overnight) pointing to supply coming online from everywhere (particularly Africa).

Very different tune to a year ago. Which means they can’t see beyond their nose either.

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