Hired Macquarie to try to sell part of the project, but failed, then raised at 30c.
I reckon not selling any portion is a very good decision although might not be their intention.
Still investing in $100m in a 21% (up to 30%) JV with POSCO, is not a wise decision to me.
Why would you invest in $100m in a small JV in another country? Non-controlling JV is always ended up with painful result in reality.
It'd be better off saving $100m especially in the downturn time, get production fixed and try to produce at close to DFS' cost if can. When so many lithium mines producing tantalum, ta credit will be smashed due to its niche market.
BTW, the USD$25m will be from JV, not POSCO.
Ann: Pilbara Minerals Equity Capital Raising, page-186
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