PLS

0.94%

$3.16 pilbara minerals limited

All the workers are busy building Elon Musks giga factory, when...

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Ianwil

13,452 Posts.

975

06/07/19

18:25

Post #: 39405496
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Originally posted by Kikker1959 ↑

Thank you for your email. The product produced at the Pilgangoora Lithium-Tantalum Project has consistently met or exceeded customer’s expectations in respect of grade and deleterious elements. Further, Pilbara Minerals maintains excellent relations with its customers and as such we do not believe product quality is impacting the share price. Any rumour mongering in regards to poor product quality is just that, and we have sought in prior ASX releases to clearly state that our product quality is excellent.

With regards to the share price, we believe recent changes in market dynamics has had a negative impact on stocks over the last few weeks. Broadly speaking, this is due to the current spodumene market conditions in China being tempered by delays in the construction, commissioning and ramp-up of chemical conversion facilities that handle spodumene concentrate supply (being the raw material feedstock to those plants).

Considering these market dynamics and following discussions with both Ganfeng Lithium and General Lithium, we have decided to respond proactively to current market conditions by moderating production from the Pilgangoora Lithium-Tantalum Project until the end of July to allow time for customer facilities to continue to ramp-up. This information was contained in our announcement of 17 June 2019.

While chemical conversion capacity is perceived to be constrained in the short term, we believe the underlying fundamentals and demand for battery-ready lithium chemicals remains strong and will continue to do so

as demand for EVs continues to increase in the coming years. As such, we are focused on our long term strategy to expand and diversify our supply chain to become a fully integrated lithium raw materials and chemical supplier to ensure we are ready to capture this growth in time to come for us and our shareholders. The Pilgangoora Lithium-Tantalum Project is an outstanding project - its high quality and significant scale positions it to become a low cost operation and one of the biggest lithium projects in the world.

As you can appreciate we can’t control the market, all we can do is continue to deliver on our long term strategy and trust this will be reflected in the share price in time to come.

Thank you for your continued support.

Pilbara Minerals Shareholder Services

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All the workers are busy building Elon Musks giga factory, when that is finished things will pick up. That will do for a reason

PLS Price at posting: 50.0¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last $3.16		Change -0.030(0.94%)		Mkt cap ! $9.516B

Open	High	Low	Value	Volume
$3.17	$3.19	$3.06	$50.14M	15.97M

Buyers (Bids)

No.	Vol.	Price($)
2	49357	$3.10

Sellers (Offers)

Price($)	Vol.	No.
$3.17	74794	5

View Market Depth

No.	Vol.	Price($)
2	49357	3.100
2	16000	3.090
4	4510	3.080
10	80282	3.060
12	568377	3.050

Price($)	Vol.	No.
3.170	74794	5
3.180	56600	5
3.190	131041	14
3.200	61350	20
3.210	38270	10

Last trade - 16.10pm 15/11/2024 (20 minute delay)

PLS (ASX) Chart

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