Trade Resources Economy PLS Is Heading to Market with a Capital Raising

PLS Is Heading to Market with a Capital Raising

Pilbara Minerals ASX: PLS is heading to market with a capital raising, with the ASX granting the company a trading halt this morning. PLS shares are now in pre-open.

The company recently completed its Feasibility Study on the Tabba Tabba Tantalum Project, which is located 84 kilometres by road from Port Hedland in Western Australia.The study demonstrated a robust project viability through low capital and miningcosts.Financials included:- Project Revenue $30.2M- EBITDA $16M with Project NPV of $14.4M at an IRR of 162%.- Capital Cost of $3.9M $1.5M already spent, plant capital items already 90% completed.- Life-of-mine LOM off-take agreement in place with world-leading tantalum producer,Global Advanced Metals Wodgina Pty Ltd GAMW.- First full year production 2014-15 operating costs forecast at $34.74/lb.Tantalum's major use is in the production of electronic components, especially for capacitors, with additional use in components for chemical plants, nuclear power plants, airplanes and missiles. It is also used as a substitute for platinum.The halt will remain in place until the opening of trade on Wednesday 26th March 2014, or earlier if an announcement is made to the market.

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Pilbara Minerals Granted Trading Halt to Raise Capital