A colleague of mine asked me to look at PLS. I did and I had a quick look at the state of the lithium market and the futures indications. It's not good. PLS might be good for a shorting opportunity, but I can't see it growing in share price any time soon. The lithium market is depressed as supply outstrips demand and that supply is only set to increase further.
This means that PLS is not alone. All lithium producers (and lithium battery manufacturers) will face the same issue for quite some time to come.
On a side note, this also stymies any attempts to recycle old lithium batteries, which is a real shame.
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