
PLS posts $743M revenue on higher quarterly sales
· PLS posts $743M revenue on higher sales.
· The company’s share price rose following the quarterly report release.
· The company targets expanded production capacity through ongoing project studies.
PLS (ASX:PLS) reported quarterly revenue of $743 million alongside production of 214.3 kilotonnes of spodumene concentrate.
The figures follow the previous period where revenue reached $567 million and production stood at 232.4 kilotonnes.
The company stated that the results reflected strong operational performance supported by increased sales volumes and higher realised prices.
Sales reached 249.9 kilotonnes for the quarter, while cash balances increased to $2.29 billion following bond proceeds.
The company stated that feasibility studies for the P2000 and Colina projects continue to progress with approved pre-FID capital expenditure of approximately $175 million.
Following the announcement, the PLS share price was up at $4.10.
PLS operates the Pilgangoora hard-rock lithium operation in Western Australia and focuses on expanding its mineral processing capabilities.