PLS +8.13%: Came out of their trading halt today with an announcement around plans to build a lithium processing facility which sent the stock higher. Pilbara have teamed up with POSCO to build a downstream plant in South Korea. Pilbara will own 18% of the joint venture and supply 315ktpa of lithium spodumene that will be processed into 45ktpa of lithium hydroxide monohydrate (LHM), ready to be used in batteries. Pilbara get an upfront injection of $US25m to fund the ramp up of operations and working capital and will also have the option to increase their stake to 30% in the next few years.
MM remains bullish PLS & long in the Emerging Companies portfolio
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