Pilbara Minerals is up 17-fold since 2020. Now former boss Ken Brinsden is chairman of a new operation that Macquarie is comparing to WA’s famous Greenbushes Mine.
Almost every retail punter and professional investor is scouring the sharemarket for the lithium sector’s next monster winner as prices for the battery ingredient consolidate an eight-fold gain since 2020.
But those returns look paltry compared to Pilbara Minerals. The West Australian producer’s shares are up from 29¢ at the start of 2020 to $5.11 today on a $15.4 billion market cap.and took it from a penny stock explorer to major supplier of spodumene concentrate to Chinese buyers that convert it into battery-grade material to energise Tesla batteries.
The Greenbushes Mine is widely regarded as the world’s best lithium resource and is jointly owned by Albemarle, Chinese investors and ASX-listed IGO Ltd.Patriot’s results suggest Brinsden’s new lithium play could compete, but the explorer isn’t expected to sell lithium until after FY2028 and must raise hundreds of millions of dollars to reach production. In other words, the stock is what your parents might call a bit of a punt.
In a bull case scenario electric vehicle and lithium demand could reach a television-style tipping point.
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