Thread by @yarra44

$PLL was around US$6 in 2020. Announced North Carolina Lithium offtake deal with #Tesla on 28 September 2020. Spiked 13x to $80.
reuters.com/article/us-pie…

$PLL was around US$6 in 2020. Announced North Carolina Lithium offtake deal with #Tesla on 28 September 2020. Spiked 13x to $80. It raised US$122.5 million on 24 March 2021 at US$70 per share. proactiveinvestors.com.au/companies/news…

After spiking 13x from US$6 per share in 2020 to $80 per share, $PLL did another cap raise for US$113.75 million at $65 per share on 22 March 2022. Total of US$236 million raised after the stock pumped 13x on the original “binding” #Tesla offtake.
mining-journal.com/capital-market…

So ##Tesla #EV #hype was used to pump $PLL stock 13x from US$6 to $80 and the pumped up stock price used to raise US$236 million in 2 capital raises priced at US$70 and $65. $PLL then bought its stake in $SYA for $0.0092 cents per share when its market cap was around $20 million.

So 30-year veteran #WallStreet bankers turned @PiedmontLithium into a #DERIVATIVE of #Tesla & #EV & #Lithium popularity. And raised cash based on that inflated derivative value. Which ultimately was & remains worth NOTHING‼️ … given North Carolina Lithium is still a pipe dream‼️

Enter @SayonaMining $SYA and North American Lithium (NAL) restart and SYA-PLL offtake agreement with US$900/t ceiling price. Sayona then #pumps to AU$2 billion market cap. And raises $190 million in May 2022. Another derivative of #lithium spot price #hype. Do you see a pattern?

So derivative #2 $SYA enabled by derivative #1 $PLL derives its value from assumed value of SC6 China spot price. $SYA stock price and market cap are derivatives of assumed SC6 spot price of a “WHOPPING” $8,000. Despite the US$900/t PLL offtake ceiling price.

Now derivative #2 @PiedmontLithium $PLL says it’s significantly undervalued if you compare its sum of parts “Enterprise Value” measure to derivative #1 @SayonaMining $SYA current AU$2.2 billion (US$1.67b) market cap. Only #WallStreet #InvestmentBankers can make this stuff up‼️

Now derivative #1 @PiedmontLithium $PLL says it’s significantly undervalued if you compare its sum of parts “Enterprise Value” measure to derivative #2 @SayonaMining $SYA current AU$2.2 billion (US$1.67b) market cap. Only #WallStreet #InvestmentBankers can make this stuff up‼️

So: Derivative #1 $PLL pumps 13x on failed #Tesla offtake; raised US$236 million in 2 capital raises; then bought its stake in Derivative #2 $SYA which pumps 1000x to US$1.67 billion market cap which Derivative #1 uses to assert its own stock price is significantly undervalued.

It's actually quite #genius and shows why #WallStreet #InvestmentBanks are worth their weight in million dollar bonuses. They find ways to use sentiment and money to make more money. @PiedmontLithium is right, but for the wrong reason. $PLL is worth more because of NAL cashflow‼️