Pilbara Minerals Limited (PILBF)

[TradingCharts]

Tuesday 24 May 2022 Results of Fifth BMX Auction

STRONG INTEREST IN SPODUMENE SPOT SALES ON BMX PLATFORM CONTINUES
Pilbara Minerals Limited (“Pilbara Minerals” or the “Company”: ASX: PLS) is pleased to
update the market on the results of its fifth spodumene concentrate digital auction, held
via its Battery Material Exchange (“BMX”) this afternoon.
A cargo of 5,000 dmt at a target grade of ~5.5% lithia was presented for sale on the platform
with delivery expected from 15 June 2022.
Strong interest was received in both participation and bidding by a broad range of buyers.
Pilbara Minerals intends to accept the highest bid of USD$5,955 /dmt (SC5.5, FOB Port
Hedland basis) which on a pro rata basis for lithia content (inclusive of freight costs) equates
to a price of approximately USD$6,586 /dmt (SC6.0, CIF China basis).
Pursuant to the auction terms, the bidder is now required to enter into a sales contract with
the Company, which requires a 10 percent deposit to be paid in the coming days and an
irrevocable letter of credit from a recognised bank to be presented during the first week of
June 2022.
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