Pilbara Minerals Ord Shs T.PLS

Primary Symbol: PILBF

Metals & Mining Industrial Metals & Minerals

Pilbara Minerals Limited is an Australia-based lithium company. The Company is primarily engaged in the exploration, development, and mining of minerals in Australia. Its 100% owned Pilgangoora hard-rock lithium operation is located approximately 120 kilometers (kms) from Port Hedland in Western Australia’s resource-rich Pilbara region. The operation consists of two processing plants: the Pilgan Plant, located on the northern side of the Pilgangoora area and produces spodumene and tantalite concentrates, and the Ngungaju Plant is located to the south produces spodumene concentrate. It owns 70% of the Mt Francisco project, which is located 50 km south-west of the Pilgangoora Project and hosts the large occurrence of outcropping pegmatites located nearby to Port Hedland. It is also pursuing a proposed downstream joint venture (JV) for the development of an approximately 43,000 tons per annum lithium carbonate equivalent (LCE) lithium chemical conversion facility in South Korea.

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Pilbara Minerals Ord Shs > Business Update

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Comment by venturecap1on Jan 22, 2016 10:50am

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Post# 24483906

RE:Business Update

Yes, the tons sold were not a massive number but they were still an improvement of 10% over third quarter results. In the 3rd quarter 2015 the company earned $2 million in EBITDA and had $9 million cash on their balance sheet. In the 4th quarter the company increased their sales, have a benifit of a weaker Cdn dollar and have $14 million in cash, a $4.5 million improvement over the 3rd quarter. I do think it is smarter for the company to set the expectations at a reasonable level going forward versus being too optimistic in the past only to not meet those expectations and the market react negatively.

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