Good News & Bad News, page-44784

The new leases obtained from KAI line up with the exploration update in the quarterly. PLS have always maintained that the best path to grow the company is expansion through organic growth. It is simply the best and lowest cost path of growing the companies production profile. I hazard a guess that any future downstream participation won't be Hydroxide, looking at the current trend in chemistry.

Unfortunately, it looks like the current depressed pricing is set to continue through 2024. For those wanting SP appreciation to sell PLS, the wait could be longer. Next SP trigger could be a major entity moving on a Lithium player while the market is trashed. The BEOT shorts will know about it first so I expect to see shorts reducing before the mainstream market sees the smoke.


4. EXPLORATION AND GEOLOGY
4.1 Pilgangoora and Regional
Resource development drilling continued during the June Quarter, targeting the depth extensions of
pegmatite domains north of the Central Pit as well as a new domain to the east of the South Pit. A total
of 49 holes were completed for an advance of 19,599m which included 3,950m of diamond drill
core. Drilling is scheduled to continue through to the end of CY24 with a resource upgrade expected in
the March Quarter 2025.