PLS 2.13% $3.83 pilbara minerals limited

What is left to sell at Pilgangoora?

  1. 3,342 Posts.
    lightbulb Created with Sketch. 887
    I made myself a summary of all the Stage 1, 2, 3 deals and promises. Thought I'd share the summary and my observations. Interested in any errors posters may spot and/or their own thoughts on this.

    Observations:
    - With end of stage 3 meant to be "up to" 1.2Mtpa of SP6 and existing options with GFL and Posco ... there's less than 20% of Pilgangoora stage 1+2+3 production available for any new customers or equity partners. Seems ambitious to want to sell 20-49% to any industry player with <20% production volume remaining (until options start running out in 15years time).
    - IMO GFL and Great Wall seem to have got a suite of pretty amazing deals vs what Posco and General Lithium have paid in cash and kind (less cash provided and Chinese carb based pricing).
    - On the other hand, the Posco deal looks amazing for PLS (A$80M equity at 97c, another $80M unsecured to fund PLS part of JV, price linked to Korean prices of carb + hydroxide).
    - Telling the market how incredibly profitable the board thought Stage 2 would be before locking in the cash from GFL and Great Wall would seem a strategic mistake IMO (both then negotiated lower funding for same offtake leading to more additional funding required for Stage 3).
    - Personally I'd like the Posco relationship and JV to be the focus of management and the board. WIth LOM agreements this partnership is for the long haul (and seemingly much more 2 way than the Chinese deals.

    Others thoughts?

    https://hotcopper.com.au/data/attachments/1497/1497310-f2aef436c7e9e173077efc523a9cf4b6.jpg
 
watchlist Created with Sketch. Add PLS (ASX) to my watchlist
(20min delay)
Last
$3.83
Change
0.080(2.13%)
Mkt cap ! $11.52B
Open High Low Value Volume
$3.90 $3.91 $3.83 $93.71M 24.26M

Buyers (Bids)

No. Vol. Price($)
6 35051 $3.82
 

Sellers (Offers)

Price($) Vol. No.
$3.84 6400 1
View Market Depth
Last trade - 16.10pm 29/03/2024 (20 minute delay) ?
Last
$3.84
  Change
0.080 ( 2.50 %)
Open High Low Volume
$3.91 $3.92 $3.83 7472288
Last updated 15.59pm 29/03/2024 ?
PLS (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.