Ann: Results of Third BMX Auction, page-2

SC5.5!

Results of Third BMX Auction
CONTINUED STRONG INTEREST IN SPODUMENE SPOT SALES MARKET
Pilbara Minerals Limited (“Pilbara Minerals” or the “Company”: ASX: PLS) is pleased to
update the market on the results of its third spodumene concentrate digital auction, held
via its Battery Material Exchange (BMX) this afternoon.
A cargo of 10,000dmt at a target grade of 5.5% lithia was presented for sale on the digital
platform, with a deferred delivery date in February 2022.
As with the previous two auctions, strong interest was received in both participation and
bidding by a broad range of buyers. Parties placed 25 bids online during the 45-minute
auction window, with the Company considering the bidding to be very strong in light of
the deferred delivery date.
Pilbara Minerals intends to accept the highest bid of USD$2,350/dmt (SC5.5, FOB Port
Hedland basis) which on a pro rata basis for lithia content (inclusive of freight costs) equates
approximately to a price of USD$2,629/dmt (SC6.0, CIF China basis).
Pursuant to the auction terms, the bidder is now required to enter into a sales contract with
the Company, which requires a 10 percent deposit to be paid in the coming days and an
irrevocable letter of credit from a recognised bank to be presented during the first week of
January 2022.
Release authorised by Ken Brinsden, Pilbara Minerals Limited’s Managing Director