Pilbara Minerals (PLS) -0.9%: back to profit as revenues rebounded, with the Ngungaju restart planned for FY27 and the balance sheet remaining the priority. The restart is interesting, and implies they think the rebound in Lithium prices are sustainable. More volume into the market could counter act that.
- Net income: $32.8m (vs -$69.4m y/y)
- Revenue: $624.2m (+47% y/y) –
- Interim dividend: Nil (unchanged)
- Ngungaju restart: ~200ktpa approved, production to resume July 2026
A solid result benefitting from higher Lithium prices, but we’re cautious that higher prices will bring back on latent volumes.
MM is now cautious PLS (& Lithium stocks)
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