PLS chart, page-1636

Its seems to me, the market is recognising current Spodumene prices and expectations of it hitting US$1,000pt this year. Further, PLS looking to double production and further expand when downstream ventures approved.

IGO was up 10% off the bat yesterday morning and Tianqi are up 80% from their recent lows. I reckon Greenbushes valuation on Spodumene production alone, is well over A$10b now. GBs produce 1.34mtpa. When we get there, theoretically our share price should be $3.30.

My guess is, if that US$1,000pt occurs (and downstream success) we may hit $2.50 and recede to ~$1.80. Just a guess, a considered guess though. I just reckon the share price may hit frenzy mode before people realise there's still another two years before we get everything set up. Longer term that $3.30 and above looks much closer now.


CATL (up 4.01%) opened strongly this morning, setting a new ATH. It receded but has powered back now Ganfeng (up 5.61%) and Tianqi (up 9.90%) strong too. The entire EV industry looks very strong.

Commodities generally seem to be taking a hit since the Chinese announcement to develop homegrown resources to counter commodity price inflation.One commodity that still succeeds is Lithium and in turn Spodumene. Go you good thing.

PLS share price up 10c a day yesterday and looking same today. I could get used to this.


The POSCO JV decision isn't just about financing it but also the FID and financing of the Pilgan Stage 2.




From the PLS Calix ASX announcement:

"Pilbara Minerals’ mid-stream project development (whether as part of the JV or otherwise) will be progressed utilising part (or all) of the unallocated spodumene concentrate production capacity available at Pilgangoora Project over time, without disrupting its important offtake customer relationships and the proposed POSCO downstream joint venture arrangements."

I'd expect the POSCO JV to proceed as is. DD has to be carried out ... it is a very large investment. Trust is great but thoroughly audited financial plans are reassuring. Especially when POSCO have publicly stated that they hope to expand from the original 43ktpa, to 220ktpa by 2030.

When asked at the Strategy and Outlook seminar what he expected PLS SC6 production to be by 2030, Dale deflected and said "the maximum".

If drilling eventually proves that the Central and South pit orebodies join up, we could have (at least in theory) a 20mtpa plant with a 20 year lifespan. With high Spodumene prices, downstream investment and Calix processing plant, we could be a very profitable Company by 2030.

The Calix ASX Ann. is quite specific when they state that the final product is aimed at being feedstock for LFP batteries. It will produce a lower grade 5.5% product. The plan at the moment, is to take otherwise wasted material and reprocess it. In doing so, raising overall plant recovery rates into the 80%s.

CATL are now the number 1 EV battery maker in the world ... and a large part of that is LFP batteries for ESS use. The Calix announcement also talks about producing feedstock for Australian based LFP battery production.

The Calix product also has the potential to appease European and American interest in a lower carbon footprint product. It will also pay for itself through overall improved recovery rates. Joe Lowry's statement this morning, that PLS's future zero carbon produced product interests European and US interests, I find very interesting.