Ann: Placement to raise $2.5m, page-37

I assumed after the announcement of negotiations to go to 100% of TT that the (larger than expected) Con Note raise in Q2 would cover that, and no further CR would be required.
I was wrong on that, and now happy to be so, as clearly the company has significantly ramped up its budgeted spend on Pilgangoora this year, and next.
Who would have expected the stock price to double after a $6.7m cap raise in Q2?
But thanks to Tesla's PR and some genuine global investor bullishness about the Lithium outlook long term (well documented previously on the PLS thread), that's exactly what has happened.
And the rising share price has allowed PLS to raise more money at higher prices to speed up the Pilgangoora project. Which is a good thing.
Big increase in drilling expenditure, commencement of engineering studies, investment in detailed met work, and other initiatives that will feed into a pre-fease study in Q1 next year.
As well as buying out their wounded jv partner in TT, which (should it ever get the approvals), can deliver ~ $1m ebitda per month for at least 16m (as per scoping study) but ultimately more like 60+ months.
PLS has done some hard yards in the past 12 months, but is now in a very good positon.
If well executed operationally, the next 6-12 months will be newsflow rich with a myriad of potentially very exciting milestones, with the likelihood of a very strong tailwind of Lithium bullishness at our back.
Patience will be handsomely rewarded.