Pilbara Minerals is raising between $70 million and $80 million Read more: http://www.copyright link/stree, page-137

For those that are concerning themselves with the impending CR, it may be worthwhile to focus on what is at hand. Nemaska Lithium Whabouchi on the 4th April released an updated feasibility study for their Whabouchi Mine in Canada. Unlike our Pilgangoora that will be an open cut mine, Whabouchi encompasses a combined open pit (20Mt @ 1.53% Li2O) and underground mine plan (7Mt @ 1.28% Li2O). From a total 27Mt resource Nemaska Lithium Whabouchi Updated Feasibility Study Shows a Pre-Tax NPV at 8% Discount Rate of $1.9 B (After-Tax $1.16 B) and a Pre-Tax IRR of 37.7% (After-Tax 30.3%). They are assuming a 1Mt throughput per annum.

Keep in mind that the following are taken from a resource of 27Mt as compared to the PLS Pilgangoora reserve of 29.5Mt @ 1.31% Li2O. Their costs of Spodumene Concentrate are significantly lower at US$145 compared to ours of US$205 and their average strip ratio of 2.2 to 1 is significantly better than ours of 3.47:1 as well. Having said that though, look at the following assumptions and measures from their study.



OMG! Check out the prices they are assuming for Lithium Hydroxide! Given that the DFS total resource will be significantly higher than what was quoted in the PFS, you can only assume the true value of Pilgangoora. Furthermore, assume that we eventually do reach that 100Mt resource... Wow!

I also like the following quote

"...The report (Roskill Consulting Group) showed growth in demand for battery grade lithium hydroxide is forecasted to outpace all other lithium compounds over the next 10 years showing a 15.5% CARG (compound annual rate of growth) from 2015 to 2025. This increase in demand is expected to be reflected in the term contract selling price of battery grade lithium hydroxide which, according to Roskill, is expected to increase from (US$/t CIF) $8,640 in 2015 to $13,210 in 2025 representing a 52% increase in term sales price..."

The full release is available here

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