Pilbara Minerals pilot plant for the giant Pilgangoora Lithium project in W.A

Financial projections to be released this month for world’s largest Lithium resource in W.A

The global Lithium industry will be sitting on the edge of their chairs later this month when Perth based Pilbara Minerals tells the market just how much money you can make out of the largest reported Lithium resource in the world.

The company this week flagged the impending release of their highly anticipated definitive feasibility study or “DFS” into the giant Pilgangoora Lithium project in the north of W.A.

Metallurgical testing at the project, which was the final box to be ticked ahead of the definitive feasibility study being released, was completed this week with lithium recoveries of up 78.1% returned during testing.

The company said they were also very pleased with significant improvements in tantalum recoveries during the metallurgical testing.

The results allow Pilbara to finalise the process flowsheet and complete the last major component of their definitive feasibility study for the 100%-owned Pilgangoora project.

The DFS has now entered its final review stage and is due to be released to the market towards the end of this month after a board review.

Interestingly the company said this week they were going to release a pre feasibility study into expanding the project at the same time as they release the definitive feasibility into the project itself.

Plans to expand the project before it even begins were no doubt influenced by the significant resource upgrade in July to 130m tonnes making Pilgangoora the largest reported hard rock Lithium resource in the world by tonnes of ore.

In a statement this week to the ASX, the company revealed the DFS now included plans to install a primary crusher with a capacity of 4 million tonnes per year — double the current planned milling rate — to allow for an early expansion of the project.

Pilbara also advised it had been able to reduce the number of stages in the heavy media separation of milled ore from three stages down to two, significantly enhancing the project financials.

Pilbara Minerals’ Managing Director, Ken Brinsden, said “The scale of the Pilgangoora resource and reserve, combined with its distinct location and grade advantages, will underpin a low-cost operation which should be the ‘go-to’ hard rock lithium project for expanded raw material supply. We look forward to demonstrating its potential.”

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Share Price

Closing price for the last 90 trading days
Source: Morningstar

BN30 Index

Index = 100 as of 4 Jan 2016
Source: Morningstar

Total Shareholder Return as at 28/02/18

1 year TSR5 year TSR
109thPilbara Minerals102%111%
166thLegend Mining69%11%
250thCarnarvon Petroleum38%18%
336thTriton Minerals17%11%
454thLithium Australia-3%15%
711 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

$0 Issued
$417k Bought
$744k Sold
Total value as at the date of the transaction
Source: Morningstar


94th↑Pilbara Minerals$2.1m
97th-Triton Minerals$1.8m
98th↓Carnarvon Petroleum$1.8m
100th↑Lithium Australia$1.8m
101st↑Legend Mining$1.7m
501 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Pilbara Minerals

12thJohn Young$2.603m
18thKen Brinsden$1.947m
Ranked by total remuneration from all listed WA companies

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