Pilbara Minerals Ord Shs T.PLS

RE:RE:RE:RE:Polaris announces 2014 third quarter financial results

[aggman]

There is a lot of good in these results in amogst the issues called out. SG&A is up (new hires).

For me, looking at ASP and sales mix variance - it underscores how powerful the PoLB outlet will be - because there will be no marketing partner - it will be direct sales and much higher (LA) prices.  Its going to be a step-change fo rthe enterprise - but it can not come soon enough.

It was touted to be in operation in mid-2014 and now we hears it looks good for next year and testing on the material is encouraging (well, we know that - because of the last 6 years track record - can't potential customrs in LA simply call customers in SFO to get the truth).

it hurts to tell you this amgn68 - but the $15M raised in this years bought financing - which was for many things including "general corporate purposes" - has broadly been used for working capital purposes (no bad thing) and for the holding costs for 9-months on PoLB.

You have every reason to be dissappointed on the equity raise - and what is there to show for it in 2014 or 2015?

I think the sooner PoLB commences and ramps up - you'll see this enterprise gobble up its SG&A and charges and be profitable as an enterprise, not just profitable at the operating level.

If we are to believe the CEO, and the rest of the market - we are at this point where volume has come back, that there is now confidence in improving pricing.  You model 1M or 1.5M tons in LA with a $6/ton margin.

Onwards.