Ann: Quarterly Activities Report, page-49

"Pilbara Minerals has received binding equity funding commitments from AustralianSuper and RCF VII for a total of A$240 million in support of the future equity raising.

These binding equity commitments include AustralianSuper and RCF VII in aggregate agreeing to subscribe for a A$119 million placement and sub-underwrite a A$121 million non-renounceable entitlement offer at a fixed price of$0.36 per share ..."


The gist of the ASX Announcement I got, is that Oz Super and RCF will subscribe for half the issue and the balance would be offered to existing shareholders. If there was a shortfall, Oz Super and RCF would take that too.

With the subscription price at .36c and the current share price at 43c, I don't expect a shortfall.

HOWEVER, I would imagine the FIRB would preclude Chinese shareholders from participating, given the Critical Minerals Agreement with the USA (no wonder the Chinese are angry in trade relations since ... wouldn't you be?). I reckon at least 20% of our shares are held in Chinese interests.

Yanlin estimates 1 new share offered for every 7.6 shares one holds BUT with 20% of shareholders excluded, then perhaps it may be more like 1 for every 6.

The deal isn't finalised yet and the Company has yet to go into specifics, so its a bit early to be certain.


I was very happy with the final cash at bank of $A85.7m. It would've been $A91m but for the $A5.3m inventory build.

The sales guidance of 55k to 70k was in line with what I was hoping for.


The POSCO deal is purely waiting on POSCO themselves ... to confirm their ability to make a 40ktpa LiOH plant work and be competitive with the Chinese. Rodney Hooper has made a previous video outlining the difficulties in gaining accreditation AND producing on a mass scale. POSCO appear to have achieved the former and we're all awaiting confirmation of the latter.