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Pilbara Minerals turns first sod at Pilgangoora

Posted on: Thursday, 24 November 2016 at 2:06:16 PM

Pilbara Minerals says it has turned the first sod at its Pilgangoora lithium-tantalum project in the Pilbara.

It made the ground-breaking announcement to shareholders at the company’s annual general meeting in Perth this morning.

Early site works involve bulk earthworks required for the project’s worker accommodation village.

The company has acquired the Roy Hill rail camp 3, comprising a 300-person camp, a gym, recreation centre and wet mess, which will be relocated to the site.

The work is expected to be completed by the end of next month.

Pilbara Minerals said the work put it on track to begin run-of-ore mining in the second quarter of next calendar year.

Managing director and chief executive Ken Brinsden said the turning of the first sod at Pilgangoora represented an exciting and hugely important milestone for the company.

He said it put the company on track for plant commissioning in late 2017.

The beginning of siteworks at Pilgangoora highlights the rapid growth and development of Pilbara Minerals, which acquired the project only two years ago. Then, it had just $3 million in the bank and was capitalised at just $11 million.

Today the company has about $95 million and has a market capitalisation of nearly $700 million.

Pilbara Minerals is planning a 2-4 million tonnes per annum operation at Pilgangoora over an initial 36-year minelife.

Yesterday, the company announced the appointment of FMG operations director Nick Cernotta to its board as a non-executive director.

Pilbara Minerals shares were up 1.5 cents, or 2.86 per cent, to 54 cents at the close.

- on November 24, 2016, 11:31 am

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