READ: Argosy Minerals surges 65% after sealing offtake deal with Mitsubishi Corporation
Pilbara Minerals is set to follow some of its peers by selling down up to 49 per cent of its Pilgangoora lithium project south of Port Hedland, with analysts speculating it could fetch more than $1 billion for the stake.Shares in the Ken Brinsden-led miner surged 15 per cent yesterday as it flagged a possible stake sale of its flagship asset as part of a funding and offtake deal for stage three expansion of Pilgangoora.The $226 million stage three project would lift capacity to 7.5Mtpa, boosting annual spodumene production to 1.2 million tonnes and 1.1 million pounds of tantalite concentrate over an estimated 15-year mine life.
So they value themselves at $2 Billion for aprox 60,000 tonnes of carbonate equivalent means EMH is valued at aprox $650 million for a third of their equivalent production target .
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