Substantial Increase in Mineral Resource Strengthens Pilgangooras Position as a Top Lithium Project

Australian lithium producer, Pilbara Minerals Limited (ASX: PLS), has announced a significant increase in the Mineral Resource at its Pilgangoora Operation in Western Australia's Pilbara region. The updated Mineral Resource, resulting from the FY23 drill program, has seen a 36% increase in total Measured, Indicated, and Inferred Resource to 413.8 million tonnes. This includes 4.75 million tonnes of lithium oxide, making it one of the largest lithium deposits globally. The upgrade also enhances overall resource confidence, with 82% of the Mineral Resource now classified as Measured and Indicated. The company plans to continue drilling in FY24 to explore further extension targets.

Source: Kapitales Research

Positive News Boosts Pilbara Minerals Share Price

The positive news from Pilbara Minerals, regarding the substantial increase in the Mineral Resource at its Pilgangoora Operation, has had a positive impact on the company's share price. The Pilbara Minerals share price has risen by 3% in early trade, reaching $5.14. This increase follows a 70% rise in the share price over the past 12 months. The market's response reflects the market's confidence in the company's growth potential and the significance of the

Pilgangoora Operation as one of the largest lithium deposits globally.

Pilbara Minerals and Calix to Build Demonstration Plant for Lithium Processing

Pilbara Minerals, in collaboration with Calix Ltd, has received board approvals to construct a demonstration plant for lithium processing. The plant will be built at the Pilgangoora project and will utilize electric calciner technology to produce a midstream lithium phosphate product. This innovative technology has the potential to increase the lithium content to 18%, significantly higher than the 5% to 6% contained in spodumene. Additionally, the technology has the potential to reduce carbon emissions intensity by over 80%, making it a game-changer for the lithium industry. If successful, the technology could be licensed to other companies in the growing lithium sector.

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com