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.

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