Good News & Bad News, page-280

I am interested to learn more about your comment on pricing difference between PLS & MRL.

According to the MRL half yearly report issued in February the company has indicated that they have been receiving pricing of $459 per tonne.

In Pilbara's announcement in February they declared $487 per tonne.

Pilbara does mention that their sell price was CIF however there is no detail from MRL to differentiate if the $459 they were receiving was FOB or CIF. Have you got anything to say either way?

The 2020 annual report from MRL indicates that they sold 6% & 4% for an average price of $597 (all exported)

One other thing that MRL have like PLS is a pricing mechanism...

"Spodumene concentrate is not exchange traded and the pricing for Mt Marion output is linked to Chinese domestic and import lithium carbonate and hydroxide prices, with the pricing agreement making provision for
periods of low lithium pricing."

Also, total production from Mt Marion for FY2020 was 407,000 tonnes of which MRL are entitled to 50% which is kinda like owning a Mt Cattlin with a larger resource, and some of it producing at 4% and some at 6%

Pilbara on the other hand shared in the AGM presentation for the FY2020 that they shipped (sold) 116,256 tonnes with sales revenue of $84.15 million.

Correct me if I am wrong but that means Pilbara were achieving an average of $724 per tonne and by comparison to the average being received by MRL of $597 it would appear that Pilbara were receiving on average $127 more per tonne than Mineral Resources...actually I think that works out to be a bit over 20% more.