Good News & Bad News, page-17500

The front end improvements for P680/1000 driving efficiencies and increased production capacity .

I think this also ties in with the owner miner model and having better control of this will improve everything at the front end. I'm sure MACA did an adequate job for the first stage of PLS's evolution but I think taking ownership of this will be a positive.

Here is the FID announcement for those that want a refresher. Cost, $297.5M with $50M towards P1000 pre-investment capital. PLS could support two projects like this per quarter at the current cash cow sweet spot.

• Final Investment Decision (FID) made to increase the Pilgangoora Operation’s
nameplate production capacity from ~ 580,000 to 680,000tpa of spodumene
concentrate (P680 Project).
• Construction of primary rejection heavy media separation circuit (Primary
Rejection) enabling rejection of low-grade waste material and providing an
additional 100,000tpa of spodumene concentrate production capacity at an
estimated capital cost of $103.0M.
• Construction of integrated crushing and ore sorting facility (Crushing and Ore
Sorting) capable of processing up to 5mtpa of ore throughput and supporting
further process improvements and concentrate quality, at an estimated capital cost
of $194.5M.
• The P680 Project includes both Primary Rejection and Crushing and Ore Sorting to
deliver total nameplate production capacity at the Pilgangoora Operation of
between 640,000 to 680,000tpa at a total estimated capital investment of $297.5M,
including $50M of pre-investment capital towards future expansions up to 1Mtpa of
spodumene concentrate production (P1000 Project).
• Commissioning of Primary Rejection expected to commence from September
Quarter 2023, with the additional production capacity to follow three months later.
• Downstream joint venture with POSCO, together with continued strong market
demand, support the P680 Project.
• Supports decarbonisation strategy by rejecting more waste at the front end of the
processing circuit, reducing overall energy intensity and carbon per spodumene
concentrate tonne.