What’s happening with Pilbara Minerals’ (ASX:PLS) shares today?

October 26, 2022 03:37 PM AEDT | By Tamnna

What’s happening with Pilbara Minerals’ (ASX:PLS) shares today? — Image source: © Max5128 | Megapixl.com

Pilbara Minerals’ production and sales highlights

As per the quarterly update, Pilbara Minerals’ P680 project began its operations during the September 22 quarter, which boosted production as well as sales numbers of the company. With the aid of its P680 project activities, Pilbara was able to contribute roughly AU$783.7 million toward a cash balance of AU$1.375 billion.

The company’s spodumene concentrate production encountered a 16% increase in comparison to June 2022 quarter, up from 127,236 dmt to 147,105 dmt.
Pilbara shipped about 138,249 dmt of spodumene concentrate, higher than 132,424 dmt in the June 2022 quarter.
The cash balance, including irrevocable bank letters of credit worth AU$132.2 million, grew to AU$1.508 billion for shipments completed up to September 30, 2022.
During the quarter, the company’s Ngungaju plant reached its nameplate capacity of 180,000 to 200,000 dmtpa. The Ngungaju plant also sold 45,041 dmt of middlings product (SC1.2 concentrate).
Besides hitting a record high in terms of share prices on Tuesday, Pilbara also reached its shipping milestone; the company has shipped one million tonnes of spodumene concentrate to date.
Pilbara achieved average realised sales prices of US$4,266/dmt SC5.3 basis (CIF China) during September 2022 quarter.

A glance at Pilbara’s production numbers

The company’s total production and shipment numbers can be seen in the table below:

Image Source: Company announcement on ASX, as of 25 October 2022

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