Ann: PLS Annual Financial Results & FY22 Guidance Presentation, page-7

Highly unlikely there will be a Capital Raising as if all goes as planned and the Spod price holds up they should generate at least $190M in surplus cash this financial year.
The only way I see there being a CR is if they acquire more assets or fund some of the mid stream/up stream and both of those would be very positive for the share price.
Forecast shipments are better than I was expecting so this year looks very good to me based on an average Spod price of around US$900 dmt

1	2020/21 Actual	Sales	Rev/Ton	Cost/Ton	Rev	Cost of Sale	EBIT
2			$	$	$M	$M	$M
3	Lithium Spod Dmt	281,440	624.72	444.78	175.82	125.18	50.64
4	Tantalite lbs (Net of costs)	130,828	45.71	(21.25)		(5.98)	5.98
5	Royalty			37.09		10.44	(10.44)
6	Sub Total			460.63	175.82	129.64	46.18
7	Overhead (Non onsite)						18.25
8	EBITDAX						27.93
9	Interest						28.98
10	Depreciation and Amortisation			94.62			26.63
11	Exploration/other						23.76
12	PBT						(51.44)
13	Tax						-
14	NPAT						(51.44)
15	PE						(132)

1	Forecast 2021/22	Sales	Rev/Ton	Cost/Ton	Rev	Cost of Sale	EBIT
2			$	$	$M	$M	$M
3	Lithium Spod Dmt	465,000	1,250.00	508.79	581.25	236.59	345
4	Tantalite lbs (Net of costs)	220,000	45.00	(21.29)		(9.90)	10
5	Royalty 5%			62.50		29.06	(29)
6	Sub Total			550.00	581.25	255.75	326
7	Overhead (Non onsite)						19
8	EBITDAX						307
9	Interest						12
10	Depreciation and Amortisation			95.00			44
11	Exploration/other						10
12	PBT						240
13	Tax						-
14	NPAT						240
15	PE[/B]						28.3
16	Capex $M	61
17	Waste Mine Dev $M (guess)	30
18	Net Cashflow $M	194

Zero tax based on accumulated losses of $254.4M