Pilbara Minerals (ASX:PLS) will announce details of a capital raising once it exits a trading halt likely to be on Monday 30 June.
Recently, Pilbara unveiled a substantial maiden JORC hard rock tantalum-lithium resource for its newly acquired Pilgangoora Project.
The new resource, comprising 5.5 million pounds of contained tantalum and 87,000 tonnes of contained lithium, adds another leg to its soon-to-be-commissioned Tabba Tabba Tantalum Project.
Pilgangoora is located just 55 kilometres from Pilbara’s Tabba Tabba Tantalum Project with the potential to provide long term mine life extension to Tabba Tabba operations.
Pilbara’s broader strategic objective to leverage off its initial production base at Tabba Tabba to establish a longer-term development pipeline of strategic metals assets in the Pilbara region.
Permitting is in its final stages for the Tabba Tabba Project, with commissioning of the plant scheduled for August 2014.
All this is heady stuff for company lowly valued at circa $7.6 million.
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