Australia's PLS Group says it is bullish on the lithium price outlook and is advancing studies toward a possible Final Investment Decision on expanding capacity at its Pilgangoora spodumene operation in Western Australia. CEO Dale Henderson said the P2000 expansion study will be released in the quarter ending December, with the study targeting a doubling of output to 2.0 million tonnes per year though Henderson's comments indicate the study's release, not a confirmed FID, is the near-term milestone.
PLS posted a full-year net profit of A$526 million (US$377 million) for the 12 months to June 30, reversing a prior-year loss, though the result fell short of expectations. Henderson described the current environment as "the next part of the cycle," citing strong demand against constrained supply. Shares rose as much as 8.1% in Sydney on the results. The company said organic expansion remains the priority over dealmaking for now.
