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PLS Group Limited (ASX:PLS)

ALERT: Price-sensitive ASX Announcement for PLS
Current share price for PLS : $4.250 -1.43 (-25.18%)+
Announcement
Release
24 Apr 2026 8:00AM
Price at Release
$5.680
Full Release
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Summary
The March 2026 Quarterly Activities Report for PLS Group Limited highlights a strong operational performance with record quarterly production of 232.4kt of spodumene concentrate. The company saw a 52% increase in revenue to $567 million due to higher realized prices and a reduction in unit operating costs, which decreased by 11% to $520 per ton. PLS also strengthened its balance sheet with a cash position of $1,455 million, partially bolstered by a US$100 million prepayment from an offtake agreement with Canmax Technologies. Feasibility studies for P2000 and Colina Project continue, and a US$600 million senior unsecured notes issuance was completed to enhance financial flexibility. PLS is engaged in strategic projects with POSCO in South Korea and has commenced commissioning of the Mid-Stream Demonstration Plant in Australia, supported by significant government grant funding.
Key Points
  • Record quarterly production of 232.4kt.
  • Revenue increased by 52% to $567 million.
  • Unit operating costs decreased by 11% to $520 per ton.
  • Closing cash position at $1,455 million.
  • Offtake agreement with Canmax Technologies includes US$100 million prepayment.
  • P2000 and Colina Project feasibility studies ongoing.
  • Completion of US$600 million senior unsecured notes issuance.
  • Strategic partnership with POSCO in South Korea.
  • Mid-Stream Demonstration Plant commissioning commenced with government grant funding.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.