Ann: Results of Inaugural BMX Auction, page-2

OH MY $1,250 USD/dmt!!!

RESULTS OF INAUGURAL BMX AUCTION
SUCCESSFUL ONLINE AUCTION OF SPODUMENE CONCENTRATE VIA BMX PLATFORM
Pilbara Minerals Limited (Pilbara Minerals or the Company: ASX: PLS) is pleased to update the
market on the results of its inaugural spodumene concentrate auction held via its Battery Material
Exchange (BMX) this afternoon.
As previously advised to the market, strong interest in the auction was received, with 17 bidders
participating.
During the three-hour auction window, parties placed a total of 62 online bids ranging from
US$700/dmt to US$1,250/dmt FOB Port Hedland, for a ‘spot’ 10,000dmt cargo (SC 5.5%) of
spodumene concentrate from the Pilgangoora Operation.
Pilbara Minerals has accepted the highest bid of US$1,250/dmt FOB Port Hedland. Pursuant to
the terms of the auction, the bidder is now required to enter into a sales contract with the
Company in the coming days which requires a letter of credit to be presented. Ship loading is
expected in the latter part of August.
Results to date in the online auction process are very supportive of Pilbara Minerals’ objective to
access a broad range of buyers via the new BMX sales channel.