The following is a summary of the Pilbara Minerals Ltd (PILBF) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Pilbara Minerals reported production volumes of 179,000 tonnes at a unit cost of USD 440 per ton or AUD 675 per tonne, improving from the first half cost of AUD 691 per tonne.

• The company had AUD 1.8 billion cash on hand and a positive cash margin from operations, adjusted for final price adjustments of previous quarter shipments, of AUD 72 million.

• Capital expenditure of AUD 110 million was spent on the P680 and P1000 expansion projects as part of the AUD 170 million cash outflows for the quarter.

Business Progress:

• The company made steady progress against its strategy, focusing on cost and balance sheet management, efficient production, and steady sales volume throughout the quarter.

• Key partnerships were formed with chemical conversion customers Shanshan, Ganfeng, and Yahua for medium-term supply sales.

• Initiated a feasibility study with Ganfeng and commissioned Lithium Hydroxide production with POSCO as part of joint ventures.

• Indications of a positive market direction were seen with a 27% price increase of spodumene concentrate in the past 60 days and strong demand for Pilbara's products.

• Operational efficiency reflected in an exit run rate with a throughput of 380 tons per hour and recoveries trending above 70% in April.

• Aggressively worked on reducing inventory backlog, with two shipments decreasing the backlog by 30,000 tonnes.

• The company aims to maximize and realize value for shareholders, leveraging on their operating track record, low-cost position, and strong balance sheet.

More details: PILBARA MINERALS LIMITED IR

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