Pilbara Minerals Ltd (ASX: PLS) is an Australian lithium producer with its 100%-owned Pilgangoora Lithium-Tantalum Project. The Pilgangoora project is located in West Australia and is one of the largest lithium ore deposits in the world. With this asset, Pilbara Minerals plans to become one of the world’s largest producers by 2020.
The Australia share market retreated to a six-month low on Tuesday, as global markets felt the pressure from surging bond yields – despite, in Australia’s case, the Reserve Bank leaving the official cash rate on hold at 4.1 per cent, for a fifth straight month.
It was relatively quiet on the ASX on Monday with traders eyeing the Reserve Bank of Australia’s latest interest-rate decision, to be announced today (and a public holiday in most states dampening activity further).
Here’s today’s The Match Out report from Market Matters’ James Gerrish. Key point: the S&P/ASX 200 (INDEXASX: XJO) finished up +0.051% to 7068.80.
The local share market fell for a second straight day on Tuesday, ahead of a flurry of central bank meetings, and following the release of a set of minutes from the Reserve Bank of Australia that were taken as implying that the local central bank is considered raising rates.
A tech slide dragged the ASX indices lower on Wednesday, ahead of the US inflation data coming in overnight.
Here’s today’s The Match Out report from Market Matters’ James Gerrish. Key point: the S&P/ASX 200 (INDEXASX: XJO) finished down +0.74% to 7153.90.
Pilbara Minerals Ltd (ASX: PLS) and IGO Ltd (ASX: IGO) have reported record profits, leading to mountains of cash sitting on balance sheets, and outsized dividends returned to shareholders.
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