ANNUAL REPORT
ACN 112 425 788
HIGHLIGHTS OF 2016/17
AN EXCEPTIONAL SAFETY RECORD
with zero lost-time injuries for the 12 months to 30 June 2017.
PILGANGOORA DEFINITIVE FEASIBILITY STUDY COMPLETED
confirming outstanding technical and financial outcomes including life-of-mine project revenue of A$9.23 billion and project EBITDA of A$4.22 billion over an estimated 36-year mine life.
OFFTAKE AGREEMENTS SECURED
for 100% of Stage 1 production
of 6% chemical grade spodumene
concentrate.
PILGANGOORA PROJECT FINANCING SECURED
following a successful, heavily over-subscribed A$228 million debt and equity raising.
OUTSTANDING RESULTS FROM PILOT PLANT TESTWORK AND PROCESS OPTIMISATION
with results confirming the ability to deliver technical grade concentrate and reducing estimated processing costs by more than 10%.
AWARD OF MAJOR SITE CONSTRUCTION CONTRACTS
including plant construction, bulk civil earthworks, camp relocation and expansion, and camp services.
CONSTRUCTION AT PILGANGOORA UNDERWAY
putting the Company on track for first production in Q2 of 2018.
SUBSTANTIAL INCREASE IN THE PILGANGOORA MINERAL RESOURCE
with a 22% increase in total resource tonnage to 156.3 million tonnes, and a 14% increase
in the total Measured and Indicated Resource component to 95.3 million tonnes.
SIGNIFICANT RESERVE GROWTH
with total Ore Reserves at Pilgangoora now standing at 1 million contained tonnes of lithium oxide and 22 million contained pounds of tantalum pentoxide.
2 PILBARA MINERALS ANNUAL REPORT 2017
ACQUISITION OF THE LYNAS FIND LITHIUM PROJECT
which adjoins the Pilgangoora Project:
Lynas Find deposit is now incorporated into the Pilgangoora Ore Reserve and mine plan.
AGREEMENT TO EXTINGUISH
DOMINANT LANDHOLDING IN THE
WORLD-CLASS
PILGANGOORA LITHIUM
PROJECT ROYALTY
DISTRICT ENHANCED
with agreement to earn up to 80%
KEY BOARD
APPOINTMENTS
as part of a Board renewal and succession
planning process in preparation for production.
and extinguish right of first refusal over future lithium sales in exchange for the issue of shares to Mineral Resources Limited.
of the Mt Francisco Project, one of the most significant lithium- tantalum exploration assets in Western Australia.
FOCUS FOR THE YEAR AHEAD
COMPLETE CONSTRUCTION AND COMMISSIONING OF THE
PILGANGOORA LITHIUM-TANTALUM PROJECT, WITH SHIPMENTS OF SPODUMENE CONCENTRATE SCHEDULED TO BEGIN IN Q2 OF 2018
PROGRESS OFFTAKE NEGOTIATIONS FOR TANTALUM PRODUCT
PROGRESS OFFTAKE NEGOTIATIONS FOR TECHNICAL GRADE SPODUMENE PRODUCT
CONTINUE TO ADVANCE FEASIBILITY STUDIES FOR THE PROPOSED
STAGE 2 (5Mtpa) PILGANGOORA EXPANSION PROJECT
COMMENCE EXPLORATION DRILLING AT THE HIGHLY PROSPECTIVE MT FRANCISCO LITHIUM-TANTALUM PROJECT
CONTINUE TO BUILD THE COMPANY'S RELATIONSHIPS WITH PROJECT STAKEHOLDERS AND WITH CUSTOMERS IN CHINA AND ELSEWHERE AROUND THE WORLD
Pilbara Minerals Limited published this content on 09 October 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 09 October 2017 01:54:13 UTC.
Original documenthttp://www.pilbaraminerals.com.au/site/PDF/2020_0/2017AnnualReport
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