The lithium miner charged up on Friday.
The post Why is the Pilbara Minerals share price having such a strong end to the week? appeared first on The Motley Fool Australia. –
The Pilbara Minerals Ltd (ASX: PLS) share price had a good end to the week, lifting 3.61% to close on Friday at $2.87%.
This ASX lithium share has seen a lot of volatility in the last few weeks and months.
However, investors in the miner may have a reason to smile after the business provided an optimistic presentation at the Diggers & Dealers Mining Forum.
In the presentation, the company said it had enjoyed an amazing growth journey with more to come.
Highlights recap
A key factor that affects the performance of commodity companies is the price of the resource.
Pilbara Minerals advised that lithium pricing remained âstrongâ. The ASX lithium share said this placed the business in a âprime positionâ to capitalise on current market conditions, including selling spodumene concentrate from the Ngungaju Plant.
The company noted that the lithium deficit was expected to grow and, by 2040, might be the equivalent of around 18 Pilgangooras.
Pilbara Minerals is benefiting from the strong pricing, and this is helping build its cash balance. It had a cash balance of $874.2 million on 30 June 2022.
A key part of the companyâs strategy is value-added products that can help increase its margin. It is positioned to capture value throughout the entire lithium raw material and chemical supply chain. That includes spodumene, lithium salts and lithium fine chemicals.
Pilbara Minerals share price snapshot
Over the past month, the Pilbara Minerals share price has risen by 32%.
The post Why is the Pilbara Minerals share price having such a strong end to the week? appeared first on The Motley Fool Australia.
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Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
