PLS - Pilbara Minerals

[HelloU]

yeah....shorts slowly unwinding (from yearly highs), producing (so expect quality to increase as well as quantity), cash flow, the atlas thing settling down, posco price still a benchmark (sorta)

 

[greggles]

Pilbara Minerals making some gains over the last week, up from 86c on 2 July to 97c today. There is resistance at $1.05 but not much after that until the double top previous high of $1.25 reached in December and January.

Adding PLS to my watchlist.

 

[Wysiwyg]

Signs of breaking upward out of this range hey. Most volume since April and didn't take any C-4 to bust resistance. Probably traders fatigue on the sell (short) side with such a long ranging period and small, if any, gains. Be great if the majority who bought during the ranging period are in for the next phase to 5Mtpa processing. Still long.

 

[HelloU]

...and quick cash possible as covers occur

 

[Wysiwyg]

I know it's standard practice to praise companies when they have a run but for a stable, well located, well managed company with output expansion and downstream processing investment capability, there are few rivals. I certainly don't encourage buying at swing highs. Long term holder with evidence if necessary.

 

[Wysiwyg]

The inevitable profit take and stop loss trip happened in coincidence with other Lithium stocks taking price cuts. Some analyst raised their price target.

 

[explod]

The chart on Pilbara Minerals does not suggest a lot but feel with it's first shipment of Lithium to go in the next week or two it may present good value soon. Will be looking for a rise in volume first though.

 

[Wysiwyg]

80 cents has held again but battery stock sentiment is so negative at the moment it is hard to see anything positive overcoming that. The sharks are cashing in on any price rises as there is no follow through.

 

[explod]

80 cents has held again but battery stock sentiment is so negative at the moment it is hard to see anything positive overcoming that. The sharks are cashing in on any price rises as there is no follow through.

You were on the ball there Wysiwyg, you're up 5% and I'm down 5%.

 

[Wysiwyg]

You were on the ball there Wysiwyg, you're up 5% and I'm down 5%.

At this day, up 135% and from the peak, down 38%.
L.T. holder here.

 

[HelloU]

Again, it depends on the time frames here. All the aussie hard rocks having glitches in the short term, aside from the battery bear. "Fe" here, take-off and funding next door, the merge down south etc.

Watching for cash flow goodness for all these going forward (my target is to survive 3+ years from now for hydroxide to really shine) but know that not all survive in the jungle. I would like to see an Australian industry in this, and not talking Chinese-US-German industry that happens to have some facilities located in Australia.

 

[HelloU]

talking timeframes ..... concentrate is due to load this week/next week. (1st of the goodness - not DSO)

 

[Wysiwyg]

talking timeframes ..... concentrate is due to load this week/next week. (1st of the goodness - not DSO)

Yes I can imagine the bulls are sniffing around to get an early seat at the table. Those who missed the sell off that is. The DSO side hustle will ship for 12 months as well for additional revenue. The big, big stacks will wait for more certainty in the market as usual.

 

[greggles]

Pilbara Minerals announced this morning that it is on track for its first shipment of spodumene concentrate from its 100%-owned Pilgangoora Lithium-Tantalum project this month after making further strong progress with the production ramp-up.

The Company said that they are on track to deliver a minimum of 5,000 tonnes of spodumene concentrate ready for ship-loading in Port Hedland from approximately 20 September, with the focus now on growing production and stockpiling concentrate (both on site and in Port Hedland) for subsequent shipments to Pilbara Minerals' premier customer group.

Things are coming together nicely for PLS. The share price is up around 5% to 80.5c this morning.

 

[explod]

Struth I'm only up 5% Wysiwyg, your'e up 30%.

Need your mentorship I can see.

 

[peter2]

Don't let the volume price action people see that chart. They'll go gaga over the high volume reversal.
Oh I see, @explod you're just teasing us.

 

[captain black]

Don't let the volume price action people see that chart. They'll go gaga over the high volume reversal.

 

[HelloU]

the patient overseas partner paid north of here .........and with cash flow the next parts can occur......

and this looks strong as others look ....less strong, so go your hardest boys. spread the love.

 

[explod]

From Barry Fitzgerald in Read Corporate today.

"
Pilbara Minerals (ASX: PLS) – First shipment on track
Pilbara is on track for its first shipment of spodumene concentrate later this month, with the ramp-up of the Stage 1 concentrator at its Pilgangoora Project delivering outstanding plant performance with exceptional product quality. Pilbara’s off-take partner, General Lithium, has also confirmed that conversion of Pilgangoora concentrates has achieved battery-grade lithium carbonate.

Pilbara Minerals (ASX: PLS) – 35% jump in Ore Reserves
Pilbara has delivered a further 35% increase in Ore Reserves at its flagship Pilgangoora Lithium-Tantalum Project in WA’s Pilbara, further strengthening its planned Stage 2, 5Mtpa expansion. The Ore Reserve now contains over 1.36 million tonnes of contained lithium oxide, extending the planned mine life to 23 years at 5Mtpa, with further scope to increase the mine production rate."

The share price is responding accordingly.

 

[Wysiwyg]

Struth I'm only up 5% Wysiwyg, your'e up 30%.
Need your mentorship I can see.

This is new territory for me explod. Never held stocks for more than a few months before. This feels like one of those companies at the beginning of something large (think iron ore and gold stocks) but we know nothing is ever certain in this game. Steady as she goes.