Pilbara Minerals has announced a joint venture with Calix ((CXL)) to assess the potential to construct a facility that will process spodumene into a mid-stream lithium product.
Also, the company will take a final investment decision on when to restart the Ngungaju plant or the Altura project in the June quarter (FY21). Assuming approval is granted, the broker believes the plant could be up and running by late 2021.
Outperform rating with a target of $1.50.
Target price is $1.50.Current Price is $1.26. Difference: $0.24 – (brackets indicate current price is over target). If PLS meets the Macquarie target it will return approximately 16% (excluding dividends, fees and charges – negative figures indicate an expected loss).