Australian lithium giant Pilbara Minerals Limited just got bigger, with the mining company reporting a massive new resource.
The company – which is a fairytale microcap to multi-billion dollar success story – reported new lithium resources ahead of a presentation at the ‘Diggers and Dealers’ conference in Kalgoorlie.
ASX PLS updated its Pilgangoora site, near Port Hedland in the Pilbara by 36 per cent to 413.8 million tonnes of measured, indicated and inferred resource – the team adding 109 million tonnes from its previous estimates.
Dale Henderson, MD of PLS, told Diggers and Dealers his company’s update was spectacular.
“The outlook for lithium is looking pretty spectacular,” Henderson said.
“The world needs a lot of lithium above and beyond all the identified assets so far.”
“We believe that there’s a long-term structural deficit [of lithium supply], and we feel that Pilbara’s incredibly well-placed to capitalise on that deficit,” he said.
“We’ve got our foot down and we’re going to make the most of this incredible environment and capitalise on the lead that we think we’ve established.”
