Fe Ltd signs letter of intent with contractor Big Yellow as West Wiluna JWD Iron Ore Project nears production proactiveinvestors.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from proactiveinvestors.com.au Daily Mail and Mail on Sunday newspapers.
The
Pilbara Minerals Ltd(ASX: PLS) share price is trading lower in late trade following the release of its half year results.
At the time of writing, the lithium miner’s shares are down 3% to $1.05.
Despite this decline, the Pilbara Minerals share price is still up a whopping 235% over the last six months.
How did Pilbara Minerals perform in the first half?
For the six months ended 31 December, Pilbara Minerals reported a 56.5% increase in revenue to $59.1 million. This was driven by a 114% increase in spodumene concentrate shipments to 114,239 dry metric tonnes (dmt).
The reason the 114% increase in shipments didn’t translate into a similar increase in revenue was pricing weakness.
Pilbara Minerals (ASX:PLS) opens $60M retail offer for Altura Lithium buy
SubscribeBe the first with the news that moves the market
Pilbara Minerals (PLS) is pushing ahead with the third part of its $240 million capital raise, opening up the retail entitlement offer for eligible shareholders
The company is hoping to raise $60 million through the retail offer, with shareholders offered one new share for every 7.6 held at 36 cents per share
That s a significant discount for shareholders, representing a 58.9 per cent markdown to the last traded price of shares on December 11.
PLS already raised $119 million via a placement earlier this week as well as $61 million through the institutional component of the entitlement offer