Pilbara Minerals (ASX:PLS) share price climbed 12% today, but why?
Mitchell Lawler | February 15, 2021 6:10pm |
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Pilbara Minerals Ltd (ASX: PLS) share price rallied 12% in trade today even though the lithium producer posted no news itself. Looking more broadly across the lithium stocks, it appeared to be a relatively good day of trade for many lithium producers.
Let’s look at some of the recent news and events for Pilbara and lithium to grasp what could have had investors excited today.
Lithium prices remain elevated
After a prolonged period of depressed lithium prices due to oversupply, the demand has caught up in recent months. This has led to the lithium price increasing by 45% year-to-date, and inevitably reinvigorating investor interest in the lithium sector.
Sayona Mining Ltd (ASX:SYA) Half Yearly Report and Accounts
Half Yearly Report and AccountsBrisbane, Feb 8, 2021 AEST (ABN Newswire) - During the period, Sayona Mining Ltd (
OTCMKTS:DMNXF) ( the Group ) acquired an additional 11 claims within the project area. In addition, the final option payment was made in December 2020 to acquire the final 50% interest in claims subject to the option agreement.
Further exploration work is planned at Tansim in 2021, including reconnaissance sampling at the new acreage and Phase 2 drilling at the Viau-Dallaire prospect.
NORTH AMERICAN LITHIUM MINE & PLANT
North American Lithium (NAL) has a lithium mine and concentrator located in Abitibi, near the established mining district of Val d Or, Quebec.
The Pilbara Minerals (ASX:PLS) share price is already up 25% in 2021
Lina Lim | January 11, 2021 4:01pm |
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Pilbara Minerals Ltd(ASX: PLS) share price has already run up by almost 25% this year and has surged 250% since October 2020. We take a closer look at what the miner has been up to.
Lithium spot price recovery
Fortescue Metals Group Limited (ASX: FMG),
Rio Tinto Limited(ASX: RIO) share prices to record highs, recovering lithium prices has initiated a broad recovery in ASX lithium shares.
On 6 January 2021, Pilbara reported a record December quarter 2020 shipment of 70,609 dry metric tonnes (dmt) on improving spodumene concentrate demand conditions. The update highlights a material uplift in lithium chemicals pricing within China, with the Platts battery grade lithium carbonate pricing assessment up 35% to date from its lows in August 2020.