Latest price $0.02 (held up well considering 1.5 CR and SPP this month)
Both a TA and FA pick
- Mining for Tantalum in Pilbara which is used in electronics, mainly capacitors.
Recently conducted a cap raise, large cornerstone investor encouraging, and SI’s, plus followed by a SPP, which closed today. Expect to hear SPP was oversubscribed.
PLS’s current holdings have been expanded, and include production and off takes in place.
"The project is forecast to generating EBITDA of $16 million and life-of-mine revenue of $30.2 million for a pre-start-up capital cost of $3.9 million, of which over $1.5 million has already been spent (see ASX Announcement – 19 February 2014)".
“Work is already well advanced on a number of fronts at Tabba Tabba, with the approvals process nearing completion and the processing plant 95% complete,” Mr Biddle said. “We are on track to begin commissioning in mid-August (pushed out two months), which will enable us to start generating cash flow – providing a clear pathway to production and strong foundation for the Company’s future. “Combined with the recent acquisition of the substantial Pilgangoora Project, Pilbara Minerals now has a substantial strategic metals portfolio located in the heart of the Pilbara region – located close to Port Hedland and with excellent logistics and infrastructure access.
“The cash flow generated by the Tabba Tabba Project will allow us to execute the next steps of our growth strategy – including exploration and development at Pilgangoora and progressing other growth opportunities in the region.”
SPP closed today and any advantage from arbitrage has ended. New buyers are expected as not many shares came onto the market since SPP was offered, and even current holders may come into the market as I believe the SPP will be oversubscribed
