General Discussion Topics, page-28028

GOING ONCE, GOING TWICE, SOLD AT ANOTHER RECORD PRICE.

Pilbara Minerals’ (ASXLS) third auction on the Battery Material Exchange (BMX) digital platform for 10,000t (SC5.5%) spodumene went off at a record $US2,350/t. It outshines auction two on September 14, which went off at a then-incredible $US2,240/t to singlehandedly spark a historic 86.5% month-on-month increase for average spod pricing industry-wide. The average price for SC6% cargoes this time last year was ~$US380/t. In the December half of 2020 – when pricing was still weak — Pilbara Minerals sold 114,239t of spodumene concentrate in contracts for revenues of ~$59m.It has now raked in ~$US54m alone from these three spot cargoes totalling 28,000t.“As with the previous two auctions, strong interest was received in both participation and bidding by a broad range of buyers,” Pilbara Minerals says. “Parties placed 25 bids online during the 45-minute auction window, with the Company considering the bidding to be very strong in light of the deferred delivery date.”