Pilbara Minerals to turn off one of two lithium processing plants and slash output as prices plummet further.
The quarterly update issued on Wednesday revealed a tonne of its spodumene concentrate had plummeted 19 per cent since June, from $US840 to $US682, and shaving 31 per cent off revenues.
IMO: If WES turn on Kwinana Process Plant to process Mt Holland lithium which is running at a loss, the WES will be bankrupt shortly and no shareholder dividends ! With an approx $2 billion worth of gold in the ground at Mt Holland they are not doing anything with it or announced anything, noting gold price today at A$4,237 - Wow ! The BOD should be ashamed !!!
WES Price at posting:
$68.11 Sentiment: None Disclosure: Not Held
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