For anyone trying to better understand the situation - There are 3 important dots to connect
a) West Pilbara - Mineral Resources and Chris Ellison has recently spent $400m on buying stake in West Pilbara Iron ore project. They are quite keen to get that massive project off and running
b) Lithium - Mineral Resources has significant exposure to lithium via Wodgina and Mt Marmion projects. They are massive projects in their own right. 5% share in PLS is a liquid non-core investment that is being used for funding growth ambitions (as it was indended for). Mineral resources is not an investment company.
c) Now the most important part - We should be very happy that a major block of share is trading hands at a valuation above $2 per share. Folks this is an awesome piece of information - A validation of our share price that has had a massive run from $1 in a short period of time.
Overall, If markets overreacts to this news (which I don't think will happen in people do some basic analysis) I am pretty sure my wife will like to buy some more PLS.
xxLiONxx
Mineral Resources sells $328m Pilbara Minerals stake via JPMorgan, page-35
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Last
$2.88 |
Change
-0.020(0.69%) |
Mkt cap ! $8.671B | |||
| Open | High | Low | Value | Volume |
| $2.87 | $2.93 | $2.84 | $50.85M | 17.65M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 5000 | $2.87 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.88 | 179945 | 5 |
View Market Depth
| Last trade - 16.10pm 19/08/2024 (20 minute delay) ? |
| PLS (ASX) Chart |