Pilbara Minerals, page-8

As a LT holder (large) my view is now this, in terms of value: (Pretty much along the lines that Number 61 posted succinctly earlier today.)

A 3mtpa plant at current concentrate prices should deliver $250m net cash per annum. The PFS says $120m based on a 2mtpa plant, but their numbers are seriously conservative, eg using $450/t when we know it is currently $600 and rising. Plus there are other conservative numbers in the PFS

Factor in this incredible rising demand for lithium and I just wonder whether $600/t in 12 months times will become $1200US/t. Lithium is a small cost component of the battery apparently so lots of room to move there.

I have a firm belief that in time they will prove up a 200mt resource. This is based on many many conversations and careful listening.

So, we have a very long mine life.

If you look at 40 years potentially (maybe a lot more) and that sort of cashflow, it has to be worth $2b easy, and that is using a lot of discounting

Factor in the supply/demand situation the the lithium/energy revolution and I am starting to think along those lines of #61 - ie $2 to $5

Now, importantly, I think this 15000m drilling campaign (which I fully expect will end up at more like 20000m) is going to put a rocket under this share price, in conjunction with the Insto buying. I think the 38c SPP will be seriously scaled back. If there are now 6000 shareholders and they are looking at $15m from the SPP, that's only $2500/shareholder. Let's say 20% don't go for it (why?), that would mean say $3125 per holder. The really small holders will be pleased.

Happy days.

When a share price doubles relatively quickly, the obvious thought is to say well it's done very well, and perhaps I should take profit and sell. Had I followed that philosophy and ignored the FA, I would not be sitting here with 25m shares. Brave some will say. I just believed in the numbers and knew they had to start pushing things along eventually. To me this is seriously cheap right now.

GLTA