Ann: FY22 December 2021 Half Year Results Presentation, page-67

Wow.. there were a couple of juicy tidbits of information in that presentation and subsequent Q&A session. I especially liked when Kenny was alluding to if investors want to get  exposure to the high pricing in chems and therefore spodumene, invest in Pilbara Minerals. He said again, that the reported spot prices of 70k chems is the THE PRICE, and not just a spot price. Also, we are getting a higher price for our spodumene  than our peers too. Just have a look at Mineral Resources spodumene pricing in their quarterly.

Another thing he said was “god only knows what we would get from am a bmx auction if we had one today”.. then went on to say that what ever the pricing agencies are quoting as a spot price ($4500), he thinks what we’d get from an auction would be MATERIALLY HIGHER than that. Good lord!

70k chems can support a SC6 price of over $8k. What happens when chemicals go to $100k?.. and I reckon they will. Ken has repeatedly said that the converters WILL GIVE UP THEIR MARGIN, not If they will.

Im disappointed that Ken is leaving by years end, but Pilbara will be in an amazing position when he eventually does. Thats comforting as an investor I think. Good times ahead! Im a happy camper