https://www.miningweekly.com

Pilbara shareholders flock to SPP in droves

18th July 2017

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Lithium developer Pilbara Minerals has reported significant shareholder support for a recent share purchase plan (SPP), with the miner raising more than A$25-million.

This was significantly more than the A$15-million initially targeted by the SPP, which was launched in June this year.

The company on Tuesday announced that it had received applications for more than A$25.5-million in new shares from existing shareholders, after shareholders were given the opportunity to apply for up to A$15 000 in new shares, priced at 35c a share.

“Thanks to the continued support of Pilbara’s shareholders, via the SPP and following the recent successful bond raising, the company is now fully financed for the development of the Stage 1 Pilgangoora project,” said Pilbara MD Ken Brinsden.

“Against a backdrop of increasing customer demand and very healthy raw material pricing driven by the electrification of the vehicle industry and the roll-out of renewable power sources, the timing of Pilgangoora’s development could not be better.”

The Pilgangoora project is expected to produce an average of 314 000 t/y of 6% spodumene concentrate and 321 000 lb/y of tantalite, over a mine life of 36 years. All project approvals are already in place.

Edited by Creamer Media Reporter

Comments

Showroom

SABAT
SABAT

From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...

VISIT SHOWROOM 
SAIMC (Society for Automation, Instrumentation, Mechatronics and Control)
SAIMC (Society for Automation, Instrumentation, Mechatronics and Control)

Education: Consulting with member companies to obtain the optimal benefits from their B-BBEE spending, skills resources as well as B-BBEE points

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hyphen, Eva mine, ferrochrome price make headlines
Hyphen, Eva mine, ferrochrome price make headlines
27th March 2024
Resources Watch
Resources Watch
27th March 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.102 0.138s - 88pq - 2rq
Subscribe Now