PLS 0.97% $2.08 pilbara minerals limited

CALIX updates, page-79

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    Some news released today by Calix … they’ve created a separate entity for their carbon capture Cement/Lime business. Not really a “spin out” as they’ve kept 93% of the share + 30% of the royalties… but, this values the LEILAC business at around $500M (being $350M for a business that only gets 70% of the royalties). IMO that “spin out” will likely make unicorn status (US$1B) at the next round of investment.

    So … what about the PLS/CXL JV? Will this go down a similar farm in for lithium industry players? Possibly creating value for PLS before the full scale plant is even built? And if so, what will the JV be worth as/when players farm in?

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