Pilbara Minerals (PLS) is emerging as one of the top lithium stocks to keep an eye on, with its share price up nearly 160 per cent over recent months and up two per cent in the past day.
Investors are watching the company’s Australian operations as global lithium demand begins to recover from its ‘winter’ period.
PLS is currently evaluating the restart of its Ngungaju processing plant at Pilgangoora.
“Additional production capacity from the restart of the 200,000-tonnes-per-annum Ngungaju plant is being assessed, with early plant operational readiness works completed to position for a potential restart within four months,” PLS said.
A board decision on the restart is expected in the March quarter.
Pilgangoora continues to deliver solid production, generating 208,000 tonnes of spodumene concentrate in the December period, with lithium recoveries holding at 76 per cent despite increased contact ore feed to maximise sorter performance.
Total material mined reached 8.1 million tonnes, supporting operational efficiency and supply security through the wet season.
The P2000 Pilgangoora expansion feasibility study is also progressing, targeting production of around two million tonnes per year. Updates on scope and timing are expected in the March quarter.
Sales from Pilgangoora totalled 232,000 tonnes, with average realised prices of $US1161 per tonne spodumene concentrate (SC5.2) and $US1336 per tonne (SC6 equivalent, CIF China). Cash at period end was $954 million.
With consistent output at Pilgangoora and growth optionality from Ngungaju and P2000, PLS is well-positioned to benefit as the lithium winter comes to an end, making it a stock investors should watch closely.
“From our platform to LinkedIn’s energy professionals – your announcements reach the entire sector’s network, not just our readers.”
