Pilbara Minerals Ord Shs T.PLS

RE:RE:RE:The best yet to come - Port Alberni

[seatleslim]

The commodities you cite have almost no relevance to sand/gravel. The pricing of all of them is set by worldwide markets. The price of aggregates has almost never gone down and when that has happened it's been brief. Secondly, if you listen to Vulcan the are telegraphing shortages in California and the importance of reserves. I don't know what the value of eagle rock is, but likely not zero. We have little to go on with Black Bear, but they say the material both balances their readymix offering and can be sold into asphalt market.  Unlike eagle rock it requires almost no cap ex.  It is adjacemt to orca and the offloading faculty and for all intents and purposes cannot be developed by anyone else.  It is an enormous reserve with the potential to meaningfully increase volumes within the next few years.  That said, I don't know what it's worth. 

There is also the fine sand product, a specialty material with high margins and volumes that haven't begun to stabilize. There is no question that the markets are growing or that Polaris isn't taking market shares.  Every single one of these companies is citing major infrastructure work that really has yet to even start. PLS will never get back to pre-dilution highs, but I believe 50 to 75M in incremental value is possible. Obviously wouldn't run out and buy it but why sell it here.