Ann: Pilbara Minerals Equity Capital Raising, page-87

Given the state of the industry to raise over $100m in less than a week, tells me of the quality of our resource. Having the largest battery manufacturer taken such a large stake is terrific. All these large players will take materials from their own mine investment (PLS) before they go anywhere else and this will also hasten the stage 2 expansion IMO. Make no mistake that this announcement is huge and secures the long term survival of PLS and will end up to be one of a few large low risk mines. Yes the SP might drop to the raising amount, but who cares. It will go up from there, once we go through the belly of the low LIT prices. I am very pleased and relieved!