PLS 3.86% $2.74 pilbara minerals limited

Good News & Bad News, page-27585

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    Sorry off topic, but its always good to keep an eye on "potential" competitors. In this case VUL, apparently total capex for stage 1 is $4 bill, which will potentially be funded by A$850 mill capital raise, A$1.55 bill debt and the balance derived from EU and multiple other government grants, tax credits, etc. I note VUL's current MC is ~A$850 mill, and I'm not sure of phase 1 lithium production capacity, but I believe it is in the range of 25 to 30kt LCE.

    For comparison, capex for PLS P1000 320kt (45kt LCE) expansion is $560 mill. Though, VUL's capex includes renewable energy power plants. Why not just build a 45kt hydroxide plant and partner with PLS to supply/participate in that facility.

 
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