PLS 2.13% $3.83 pilbara minerals limited

100%. Ken is a mining engineer with 20 years experience. You do...

  1. 93 Posts.
    100%. Ken is a mining engineer with 20 years experience. You do not get to his level without being passionate about your career/projects. People may say that Atlas Iron was a failure but he took the reigns when Atlas was already struggling and the entire iron ore industry was on a downward slope. He was the instigator of major cost cutting initiatives that may have kept the company afloat for longer than they should have. This explains why he is so focused on PLS being the lowest cost spodumene operational mine. Maybe he made some mistakes but people learn from them and I'm sure this will benefit PLS.
    Although the original BOA with GLC for ore with equity and a PFS to look at the potential of a processing plant JV did cause some issues with the MIN ROFR, it was a master move. Tying the cost of our 6% product to the lithium carbonate spot price was unheard of in the industry. It means if the BOA happens we will not have a stagnant price per tonne in our first 2 years while prices rise around us. Negotiating a JV deal for the processing plant also highlights his growth aspirations. I don't believe the current plan is to dress up the company, make it look pretty and sell it on to the highest bidder. I would hazard a bet that we will have some groundbreaking, out of left field announcements over the next year.
    At the end of the day, money talks and I'm sure if a more than fair offer was presented the BOD would have to seriously consider it but Western Australia mining is very quiet. There are no major projects coming online. We have had a culture here for years where engineers and trades people have lived a fly-in-fly-out lifestyle. They leave their family for a few weeks and go to a mine to work. Now WA has a new FIFO culture. Ex executives of these big mining companies are flying in and out of Perth to gain employment over east or overseas.
    If Ken and co nurture this project and plan for future growth....as Pilbara Minerals, they will maintain stability in their own careers and lifestyles and have the opportunity to be part of a success story.
    So @kcheers I think you are right. Ken won't let this one go easily.
 
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Last trade - 16.10pm 29/03/2024 (20 minute delay) ?
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