Lithium market darling, Pilbara Minerals
(ASX:PLS) reported an improvement in its net loss for the half-year ending December 2017.
The group’s loss for the six months was $9.97 million, compared to its $19.20 million loss after tax for the same time last year.
Its loss for the period included $3.2 million in exploration costs and in the half year it inked a deal to supply 75,000 tonnes per annum of chemical grade spodumene to China’s Great Wall Motor Company.
As a result, its income bolstered ahead in the half year to $1.2 million, up from $77,000 in the prior corresponding period.
In the period it also was inducted into the ASX200 on 18 December 2017, reflecting the increase in its market cap to over $1.9 billion at that date.
Its shares have grown about 98 per cent in the last 12 months.
Shares in Pilbara Minerals
(ASX:PLS) are trading 1.8 per cent higher to $0.85.
