Here’s the full spiel from the AFR. If it’s already been posted...

Here’s the full spiel from the AFR. If it’s already been posted by one of the the 80+ accounts I have on ignore, then so be it..
MS, BofA shop $271m block trade in Pilbara Minerals

Oct 2, 2024 – 10.30pm
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Morgan Stanley and Bank of America’s equities desks were shopping a block trade in the $9.96 billion lithium miner Pilbara Minerals on Wednesday evening, just as its share price starts to perk up from a wipeout in the commodity’s price.
Street Talk can reveal the duo was seeking buyers for a parcel of Pilbara shares worth $270 million. The trade was done at a 4 per cent discount to the $3.31 last close.
Sources said the block trade was a secondary share sale stemming from an equity collar transaction for China’s Ganfeng, which owns 5.7 per cent of Pilbara.
The trade comes after Pilbara’s shares rose 16.6 per cent over the past month as lithium prices start to look up. However, the stock is still down 21 per cent over the past year.
Pilbara’s flagship Pilgangoora mine, located 120 kilometres from Port Hedland in Western Australia, posted record production in the 2024 financial year but was hamstrung by realised prices which tumbled 74 per cent during the 12 months. Full-year revenue of $1.3 billion was 69 per cent lower than the previous year, while EBITDA fell 84 per cent to $538 million.
Despite the rude health of its flagship project, the company has sought to diversify revenues and is seeking to acquire Brazilian lithium explorer Latin Resources, capitalised at $630 million on the ASX.