Just received a nice warm and fuzzy email from Ken @ PLS :)...

Just received a nice warm and fuzzy email from Ken @ PLS

Ladies and Gentleman,

Today Pilbara Minerals released an important (and I am sure long-awaited) announcement in relation to further off-take from its Pilgangoora Project, combined with arrangements to support the balance of the project’s financing. Our additional project partner - Ganfeng Lithium, is one of the leading integrated Chinese Lithium producers and their involvement in our project is just one more signal as to the importance the Lithium industry is placing on the development of Pilgangoora as a key future lithium raw material source.

Key benefits as a result of this recent agreement include;

• 100% of our Chemical Grade Spodumene (SC6.0 basis) is now sold from the Stage 1 Pilgangoora project, paving the way for the balance of the project financing;
• Ganfeng is supportive of the Pilgangoora Stage 2 project, demonstrating their appetite to further grow their lithium raw material supply base;
• Pricing for spodumene under this offtake agreement (and the prior agreement with General Lithium), are priced using a formula with a price reference to Chinese Domestic and import Battery Grade Lithium Carbonate. This assists in Pilbara benefiting from the current and expected future demand for Lithium Carbonate in China; and
• As a whole Pilgangoora is a great long-term, low cost and high quality supply solution for the burgeoning global lithium raw material demand and in particular from China.

Rest assured the Pilbara team is working very hard to deliver what we think is a great project on behalf of shareholders. Thanks for your support and we look forward to the upcoming further exciting developments in the Company’s growth.

Regards

Ken