PLS: Corporate Presentation - The next phase of Pilgangoora
Original announcement by asx on
- Company
- Unavailable
- Ticker
- PLS
- Exchange
- ASX
- Region
- Unavailable
- Primary commodity
- Lithium
- Secondary commodities
- Tantalum, Iron ore
- Document categories
- Resource update, Other, Metallurgy
- Extracted
- 2026-10-15 22:35:09 UTC
Analysis by Minestarters Atlas
Atlas analysis published:
Minestarters Atlas analysis
Summary
Pilbara Minerals has announced a significant update to its Pilgangoora Ore Reserve, reporting a 23% increase in tonnes and a 31% increase in contained lithium, including a maiden underground Ore Reserve. This update underpins the Final Investment Decision for the P2000 expansion project, which is expected to boost spodumene concentrate production to ~2Mtpa with attractive economics, including an incremental post-tax NPV of A$2.7 billion and an IRR of 29.5%. The expansion leverages improved processing to unlock previously uneconomic material, reduce operating costs, and extend the mine life.
Reasoning: The document announces a substantial increase in Ore Reserves and contained lithium, including a maiden underground reserve, which underpins the Final Investment Decision for a major expansion project with strong economic returns and improved processing.
Positive factors
- Tonnage Growth
- Contained Metal Growth
- Category Upgrade
- QP/CP Signed
- JORC Compliant
- Strong Project Economics
- Maiden Underground Reserve
Facts used in scoring: 62
Classification and evidence
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: The document's primary focus is on the updated Pilgangoora Ore Reserve, including a significant increase in tonnes and contained lithium.
Evidence · text
“Ore Reserve Update”
Tonnage Growthpositive
Significant tonnage increase (≥15%) vs prior estimate with grade maintained or improved.
Why it applies: The Ore Reserve tonnes increased by 23% from the previous estimate.
Evidence · text
“23% growth in reserve tonnes”
Contained Metal Growthpositive
True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.
Why it applies: The contained lithium in the Ore Reserve increased by 31%.
Evidence · text
“31% growth in contained lithium”
Category Upgradepositive
Resource confidence improved — Inferred upgraded to Indicated, or Indicated to Measured. De-risking signal.
Why it applies: The document reports a maiden underground Ore Reserve, adding a new category of reserve to the project.
Evidence · text
“maiden underground Ore Reserve”
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: The document states that the Ore Reserves have been prepared by Competent Persons Mr Ross Jaine and Mr Simon Kusabs in accordance with the JORC Code.
Evidence · text
“prepared by Competent Persons (Mr Ross Jaine) for open pit and stockpile ore reserves and (Mr Simon Kusabs) for underground ore reserves in accordance with the JORC Code.”
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: The Ore Reserves and Mineral Resources are reported in accordance with the JORC Code (2012 edition).
Evidence · text
“reporting of ore reserves and mineral resources in Australia comply with the Australasian Joint Ore Reserves Committee Code for Reporting of Mineral Resources and Ore Reserves (2012 edition) (“JORC Code”)”
Theoretical Recovery Onlynegative
Only theoretical or liberation-derived recovery reported, with no actual test result.
Why it applies: The document states a '~70% lithium recovery' as a 'Target lithia recovery' rather than an actual achieved test result.
Evidence · text
“~70% lithium recovery Target lithia recovery through the wet plant.”
Maiden Resourceneutral
First formal MRE for the project — establishes baseline but typically exploration-stage with high Inferred component.
Why it applies: The document announces a 'maiden underground Ore Reserve', which is the first formal reserve estimate for this component.
Evidence · text
“maiden underground Ore Reserve”
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: the document describes a mill_cil route ("concentrator")
Extracted facts
Stored fact records: 62. Some facts used in scoring do not have a stored record.
Resource Estimates (61)
measuredPilgangoora · lithiumTonnes: 14000000Grade: 1.29Grade Unit: %Contained Metal: 0.2Contained Unit: mtView all detailsHide details
Identity
- Project
- Pilgangoora
- Commodity
- lithium
- Ticker
- PLS
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Ross Jaine, Simon Kusabs
- Resource group id
- resource:16f38f2ce22b84c6218e
- Deposit or zone
- Open Pit
Resource Data
- Category
- measured
- Tonnes
- 14000000
- Grade
- 1.29
- Grade Unit
- %
- Contained Metal
- 0.2
- Contained Unit
- mt
- Cutoff Grade
- 0.2
- Cutoff Unit
- % Li2O
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The measured open pit resource of 14 Mt at 1.29% Li2O contributes to the overall resource, indicating high confidence in this portion of the deposit.
Positive factors
- Measured Resource
- QP/CP Signed
- JORC Compliant
Evidence · table
“1.29”
Context: 14
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
measuredPilgangoora · tantalumTonnes: 14000000Grade: 104Grade Unit: ppmContained Metal: 3Contained Unit: mlbView all detailsHide details
Identity
- Project
- Pilgangoora
- Commodity
- tantalum
- Ticker
- PLS
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Ross Jaine, Simon Kusabs
- Resource group id
- resource:16f38f2ce22b84c6218e
- Deposit or zone
- Open Pit
Resource Data
- Category
- measured
- Tonnes
- 14000000
- Grade
- 104
- Grade Unit
- ppm
- Contained Metal
- 3
- Contained Unit
- mlb
- Cutoff Grade
- 0.2
- Cutoff Unit
- % Li2O
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The measured open pit resource includes 104 ppm Ta2O5, providing a byproduct credit to the overall resource.
Positive factors
- Measured Resource
- QP/CP Signed
- JORC Compliant
Evidence · table
“104”
Context: 14
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
measuredPilgangoora · iron_oreTonnes: 14000000Grade: 0.42Grade Unit: %View all detailsHide details
Identity
- Project
- Pilgangoora
- Commodity
- iron_ore
- Ticker
- PLS
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Ross Jaine, Simon Kusabs
- Resource group id
- resource:16f38f2ce22b84c6218e
- Deposit or zone
- Open Pit
Resource Data
- Category
- measured
- Tonnes
- 14000000
- Grade
- 0.42
- Grade Unit
- %
- Cutoff Grade
- 0.2
- Cutoff Unit
- % Li2O
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The measured open pit resource includes 0.42% Fe2O3, which is a minor component.
Positive factors
- Measured Resource
- QP/CP Signed
- JORC Compliant
Evidence · table
“0.42”
Context: 14
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedPilgangoora · lithiumTonnes: 186000000Grade: 1.24Grade Unit: %Contained Metal: 2.3Contained Unit: mtView all detailsHide details
Identity
- Project
- Pilgangoora
- Commodity
- lithium
- Ticker
- PLS
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Ross Jaine, Simon Kusabs
- Resource group id
- resource:161a3deb158c4ea0a34a
- Deposit or zone
- Open Pit
Resource Data
- Category
- indicated
- Tonnes
- 186000000
- Grade
- 1.24
- Grade Unit
- %
- Contained Metal
- 2.3
- Contained Unit
- mt
- Cutoff Grade
- 0.2
- Cutoff Unit
- % Li2O
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The indicated open pit resource of 186 Mt at 1.24% Li2O forms a significant portion of the overall resource, providing reasonable geological confidence.
Positive factors
- Indicated Resource
- QP/CP Signed
- JORC Compliant
Evidence · table
“1.24”
Context: 186
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
indicatedPilgangoora · tantalumTonnes: 186000000Grade: 109Grade Unit: ppmContained Metal: 45Contained Unit: mlbView all detailsHide details
Identity
- Project
- Pilgangoora
- Commodity
- tantalum
- Ticker
- PLS
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Ross Jaine, Simon Kusabs
- Resource group id
- resource:161a3deb158c4ea0a34a
- Deposit or zone
- Open Pit
Resource Data
- Category
- indicated
- Tonnes
- 186000000
- Grade
- 109
- Grade Unit
- ppm
- Contained Metal
- 45
- Contained Unit
- mlb
- Cutoff Grade
- 0.2
- Cutoff Unit
- % Li2O
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The indicated open pit resource includes 109 ppm Ta2O5, contributing to byproduct potential.
Positive factors
- Indicated Resource
- QP/CP Signed
- JORC Compliant
Evidence · table
“109”
Context: 186
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
indicatedPilgangoora · iron_oreTonnes: 186000000Grade: 0.52Grade Unit: %View all detailsHide details
Identity
- Project
- Pilgangoora
- Commodity
- iron_ore
- Ticker
- PLS
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Ross Jaine, Simon Kusabs
- Resource group id
- resource:161a3deb158c4ea0a34a
- Deposit or zone
- Open Pit
Resource Data
- Category
- indicated
- Tonnes
- 186000000
- Grade
- 0.52
- Grade Unit
- %
- Cutoff Grade
- 0.2
- Cutoff Unit
- % Li2O
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The indicated open pit resource includes 0.52% Fe2O3, which is a minor component.
Positive factors
- Indicated Resource
- QP/CP Signed
- JORC Compliant
Evidence · table
“0.52”
Context: 186
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredPilgangoora · lithiumTonnes: 11000000Grade: 1.19Grade Unit: %Contained Metal: 0.1Contained Unit: mtView all detailsHide details
Identity
- Project
- Pilgangoora
- Commodity
- lithium
- Ticker
- PLS
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Ross Jaine, Simon Kusabs
- Resource group id
- resource:8e4830479062be179181
- Deposit or zone
- Open Pit
Resource Data
- Category
- inferred
- Tonnes
- 11000000
- Grade
- 1.19
- Grade Unit
- %
- Contained Metal
- 0.1
- Contained Unit
- mt
- Cutoff Grade
- 0.2
- Cutoff Unit
- % Li2O
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The inferred open pit resource of 11 Mt at 1.19% Li2O is a speculative category with lower geological confidence.
Positive factors
- QP/CP Signed
- JORC Compliant
Negative factors
- Inferred Resource
Evidence · table
“1.19”
Context: 11
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredPilgangoora · tantalumTonnes: 11000000Grade: 89Grade Unit: ppmContained Metal: 2Contained Unit: mlbView all detailsHide details
Identity
- Project
- Pilgangoora
- Commodity
- tantalum
- Ticker
- PLS
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Ross Jaine, Simon Kusabs
- Resource group id
- resource:8e4830479062be179181
- Deposit or zone
- Open Pit
Resource Data
- Category
- inferred
- Tonnes
- 11000000
- Grade
- 89
- Grade Unit
- ppm
- Contained Metal
- 2
- Contained Unit
- mlb
- Cutoff Grade
- 0.2
- Cutoff Unit
- % Li2O
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The inferred open pit resource includes 89 ppm Ta2O5, which is a minor byproduct in a speculative category.
Positive factors
- QP/CP Signed
- JORC Compliant
Negative factors
- Inferred Resource
Evidence · table
“89”
Context: 11
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredPilgangoora · iron_oreTonnes: 11000000Grade: 0.65Grade Unit: %View all detailsHide details
Identity
- Project
- Pilgangoora
- Commodity
- iron_ore
- Ticker
- PLS
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Ross Jaine, Simon Kusabs
- Resource group id
- resource:8e4830479062be179181
- Deposit or zone
- Open Pit
Resource Data
- Category
- inferred
- Tonnes
- 11000000
- Grade
- 0.65
- Grade Unit
- %
- Cutoff Grade
- 0.2
- Cutoff Unit
- % Li2O
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The inferred open pit resource includes 0.65% Fe2O3, which is a minor component in a speculative category.
Positive factors
- QP/CP Signed
- JORC Compliant
Negative factors
- Inferred Resource
Evidence · table
“0.65”
Context: 11
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedPilgangoora · lithiumTonnes: 131000000Grade: 1.45Grade Unit: %Contained Metal: 1.9Contained Unit: mtView all detailsHide details
Identity
- Project
- Pilgangoora
- Commodity
- lithium
- Ticker
- PLS
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Ross Jaine, Simon Kusabs
- Resource group id
- resource:b34aab0dca10b3a20b59
- Deposit or zone
- Underground
Resource Data
- Category
- indicated
- Tonnes
- 131000000
- Grade
- 1.45
- Grade Unit
- %
- Contained Metal
- 1.9
- Contained Unit
- mt
- Cutoff Grade
- 0.7
- Cutoff Unit
- % Li2O
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The maiden indicated underground resource of 131 Mt at 1.45% Li2O represents a significant new component of the overall resource, demonstrating potential for future underground mining.
Positive factors
- Indicated Resource
- Category Upgrade
- QP/CP Signed
- JORC Compliant
Evidence · table
“1.45”
Context: 131
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
indicatedPilgangoora · tantalumTonnes: 131000000Grade: 135Grade Unit: ppmContained Metal: 39Contained Unit: mlbView all detailsHide details
Identity
- Project
- Pilgangoora
- Commodity
- tantalum
- Ticker
- PLS
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Ross Jaine, Simon Kusabs
- Resource group id
- resource:b34aab0dca10b3a20b59
- Deposit or zone
- Underground
Resource Data
- Category
- indicated
- Tonnes
- 131000000
- Grade
- 135
- Grade Unit
- ppm
- Contained Metal
- 39
- Contained Unit
- mlb
- Cutoff Grade
- 0.7
- Cutoff Unit
- % Li2O
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The maiden indicated underground resource includes 135 ppm Ta2O5, adding byproduct potential to this new resource component.
Positive factors
- Indicated Resource
- Category Upgrade
- QP/CP Signed
- JORC Compliant
Evidence · table
“135”
Context: 131
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
indicatedPilgangoora · iron_oreTonnes: 131000000Grade: 0.51Grade Unit: %View all detailsHide details
Identity
- Project
- Pilgangoora
- Commodity
- iron_ore
- Ticker
- PLS
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Ross Jaine, Simon Kusabs
- Resource group id
- resource:b34aab0dca10b3a20b59
- Deposit or zone
- Underground
Resource Data
- Category
- indicated
- Tonnes
- 131000000
- Grade
- 0.51
- Grade Unit
- %
- Cutoff Grade
- 0.7
- Cutoff Unit
- % Li2O
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The maiden indicated underground resource includes 0.51% Fe2O3, which is a minor component.
Positive factors
- Indicated Resource
- Category Upgrade
- QP/CP Signed
- JORC Compliant
Evidence · table
“0.51”
Context: 131
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredPilgangoora · lithiumTonnes: 51000000Grade: 1.41Grade Unit: %Contained Metal: 0.7Contained Unit: mtView all detailsHide details
Identity
- Project
- Pilgangoora
- Commodity
- lithium
- Ticker
- PLS
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Ross Jaine, Simon Kusabs
- Resource group id
- resource:bf235a1932dcd1a9966c
- Deposit or zone
- Underground
Resource Data
- Category
- inferred
- Tonnes
- 51000000
- Grade
- 1.41
- Grade Unit
- %
- Contained Metal
- 0.7
- Contained Unit
- mt
- Cutoff Grade
- 0.7
- Cutoff Unit
- % Li2O
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The maiden inferred underground resource of 51 Mt at 1.41% Li2O is a speculative category but adds to the overall potential of the underground component.
Positive factors
- Category Upgrade
- QP/CP Signed
- JORC Compliant
Negative factors
- Inferred Resource
Evidence · table
“1.41”
Context: 51
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredPilgangoora · tantalumTonnes: 51000000Grade: 142Grade Unit: ppmContained Metal: 16Contained Unit: mlbView all detailsHide details
Identity
- Project
- Pilgangoora
- Commodity
- tantalum
- Ticker
- PLS
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Ross Jaine, Simon Kusabs
- Resource group id
- resource:bf235a1932dcd1a9966c
- Deposit or zone
- Underground
Resource Data
- Category
- inferred
- Tonnes
- 51000000
- Grade
- 142
- Grade Unit
- ppm
- Contained Metal
- 16
- Contained Unit
- mlb
- Cutoff Grade
- 0.7
- Cutoff Unit
- % Li2O
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The maiden inferred underground resource includes 142 ppm Ta2O5, adding byproduct potential to this new resource component.
Positive factors
- Category Upgrade
- QP/CP Signed
- JORC Compliant
Negative factors
- Inferred Resource
Evidence · table
“142”
Context: 51
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredPilgangoora · iron_oreTonnes: 51000000Grade: 0.46Grade Unit: %View all detailsHide details
Identity
- Project
- Pilgangoora
- Commodity
- iron_ore
- Ticker
- PLS
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Ross Jaine, Simon Kusabs
- Resource group id
- resource:bf235a1932dcd1a9966c
- Deposit or zone
- Underground
Resource Data
- Category
- inferred
- Tonnes
- 51000000
- Grade
- 0.46
- Grade Unit
- %
- Cutoff Grade
- 0.7
- Cutoff Unit
- % Li2O
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The maiden inferred underground resource includes 0.46% Fe2O3, which is a minor component.
Positive factors
- Category Upgrade
- QP/CP Signed
- JORC Compliant
Negative factors
- Inferred Resource
Evidence · table
“0.46”
Context: 51
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
measuredPilgangoora · lithiumTonnes: 2000000Grade: 1.16Grade Unit: %Contained Metal: 0Contained Unit: mtView all detailsHide details
Identity
- Project
- Pilgangoora
- Commodity
- lithium
- Ticker
- PLS
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Ross Jaine, Simon Kusabs
- Resource group id
- resource:3993462fdd8d02087f6b
- Deposit or zone
- Stockpiles
- Material type
- stockpile
Resource Data
- Category
- measured
- Tonnes
- 2000000
- Grade
- 1.16
- Grade Unit
- %
- Contained Metal
- 0
- Contained Unit
- mt
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The measured stockpile resource of 2 Mt at 1.16% Li2O provides a readily available source of material.
Positive factors
- Measured Resource
- QP/CP Signed
- JORC Compliant
Evidence · table
“1.16”
Context: 2
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
measuredPilgangoora · tantalumTonnes: 2000000Grade: 108Grade Unit: ppmContained Metal: 0Contained Unit: mlbView all detailsHide details
Identity
- Project
- Pilgangoora
- Commodity
- tantalum
- Ticker
- PLS
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Ross Jaine, Simon Kusabs
- Resource group id
- resource:3993462fdd8d02087f6b
- Deposit or zone
- Stockpiles
- Material type
- stockpile
Resource Data
- Category
- measured
- Tonnes
- 2000000
- Grade
- 108
- Grade Unit
- ppm
- Contained Metal
- 0
- Contained Unit
- mlb
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The measured stockpile resource includes 108 ppm Ta2O5, providing a minor byproduct credit.
Positive factors
- Measured Resource
- QP/CP Signed
- JORC Compliant
Evidence · table
“108”
Context: 2
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
measuredPilgangoora · iron_oreTonnes: 2000000Grade: 1.14Grade Unit: %View all detailsHide details
Identity
- Project
- Pilgangoora
- Commodity
- iron_ore
- Ticker
- PLS
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Ross Jaine, Simon Kusabs
- Resource group id
- resource:3993462fdd8d02087f6b
- Deposit or zone
- Stockpiles
- Material type
- stockpile
Resource Data
- Category
- measured
- Tonnes
- 2000000
- Grade
- 1.14
- Grade Unit
- %
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The measured stockpile resource includes 1.14% Fe2O3, which is a minor component.
Positive factors
- Measured Resource
- QP/CP Signed
- JORC Compliant
Evidence · table
“1.14”
Context: 2
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedPilgangoora · lithiumTonnes: 9000000Grade: 0.95Grade Unit: %Contained Metal: 0.1Contained Unit: mtView all detailsHide details
Identity
- Project
- Pilgangoora
- Commodity
- lithium
- Ticker
- PLS
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Ross Jaine, Simon Kusabs
- Resource group id
- resource:91f442b731cf18c3af92
- Deposit or zone
- Stockpiles
- Material type
- stockpile
Resource Data
- Category
- indicated
- Tonnes
- 9000000
- Grade
- 0.95
- Grade Unit
- %
- Contained Metal
- 0.1
- Contained Unit
- mt
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The indicated stockpile resource of 9 Mt at 0.95% Li2O provides additional material with reasonable confidence.
Positive factors
- Indicated Resource
- QP/CP Signed
- JORC Compliant
Evidence · table
“0.95”
Context: 9
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
indicatedPilgangoora · tantalumTonnes: 9000000Grade: 100Grade Unit: ppmContained Metal: 2Contained Unit: mlbView all detailsHide details
Identity
- Project
- Pilgangoora
- Commodity
- tantalum
- Ticker
- PLS
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Ross Jaine, Simon Kusabs
- Resource group id
- resource:91f442b731cf18c3af92
- Deposit or zone
- Stockpiles
- Material type
- stockpile
Resource Data
- Category
- indicated
- Tonnes
- 9000000
- Grade
- 100
- Grade Unit
- ppm
- Contained Metal
- 2
- Contained Unit
- mlb
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The indicated stockpile resource includes 100 ppm Ta2O5, providing a minor byproduct credit.
Positive factors
- Indicated Resource
- QP/CP Signed
- JORC Compliant
Evidence · table
“100”
Context: 9
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
indicatedPilgangoora · iron_oreTonnes: 9000000Grade: 3.6Grade Unit: %View all detailsHide details
Identity
- Project
- Pilgangoora
- Commodity
- iron_ore
- Ticker
- PLS
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Ross Jaine, Simon Kusabs
- Resource group id
- resource:91f442b731cf18c3af92
- Deposit or zone
- Stockpiles
- Material type
- stockpile
Resource Data
- Category
- indicated
- Tonnes
- 9000000
- Grade
- 3.6
- Grade Unit
- %
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The indicated stockpile resource includes 3.60% Fe2O3, which is a minor component.
Positive factors
- Indicated Resource
- QP/CP Signed
- JORC Compliant
Evidence · table
“3.60”
Context: 9
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
measuredPilgangoora · lithiumTonnes: 15000000Grade: 1.28Grade Unit: %Contained Metal: 0.2Contained Unit: mtView all detailsHide details
Identity
- Project
- Pilgangoora
- Commodity
- lithium
- Ticker
- PLS
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Ross Jaine, Simon Kusabs
- Resource group id
- resource:4bafa0b7bc4a1f882ebc
- Deposit or zone
- Pilgangoora
Resource Data
- Category
- measured
- Tonnes
- 15000000
- Grade
- 1.28
- Grade Unit
- %
- Contained Metal
- 0.2
- Contained Unit
- mt
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The total measured resource for Pilgangoora is 15 Mt at 1.28% Li2O, indicating a high level of confidence for this portion of the deposit.
Positive factors
- Measured Resource
- QP/CP Signed
- JORC Compliant
Evidence · table
“1.28”
Context: 15
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
measuredPilgangoora · tantalumTonnes: 15000000Grade: 104Grade Unit: ppmContained Metal: 4Contained Unit: mlbView all detailsHide details
Identity
- Project
- Pilgangoora
- Commodity
- tantalum
- Ticker
- PLS
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Ross Jaine, Simon Kusabs
- Resource group id
- resource:4bafa0b7bc4a1f882ebc
- Deposit or zone
- Pilgangoora
Resource Data
- Category
- measured
- Tonnes
- 15000000
- Grade
- 104
- Grade Unit
- ppm
- Contained Metal
- 4
- Contained Unit
- mlb
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The total measured resource for Pilgangoora includes 104 ppm Ta2O5, providing a byproduct credit.
Positive factors
- Measured Resource
- QP/CP Signed
- JORC Compliant
Evidence · table
“104”
Context: 15
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
measuredPilgangoora · iron_oreTonnes: 15000000Grade: 0.5Grade Unit: %View all detailsHide details
Identity
- Project
- Pilgangoora
- Commodity
- iron_ore
- Ticker
- PLS
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Ross Jaine, Simon Kusabs
- Resource group id
- resource:4bafa0b7bc4a1f882ebc
- Deposit or zone
- Pilgangoora
Resource Data
- Category
- measured
- Tonnes
- 15000000
- Grade
- 0.5
- Grade Unit
- %
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The total measured resource for Pilgangoora includes 0.50% Fe2O3, which is a minor component.
Positive factors
- Measured Resource
- QP/CP Signed
- JORC Compliant
Evidence · table
“0.50”
Context: 15
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedPilgangoora · lithiumTonnes: 326000000Grade: 1.32Grade Unit: %Contained Metal: 4.3Contained Unit: mtView all detailsHide details
Identity
- Project
- Pilgangoora
- Commodity
- lithium
- Ticker
- PLS
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Ross Jaine, Simon Kusabs
- Resource group id
- resource:739cc758e58e2e1d5880
- Deposit or zone
- Pilgangoora
Resource Data
- Category
- indicated
- Tonnes
- 326000000
- Grade
- 1.32
- Grade Unit
- %
- Contained Metal
- 4.3
- Contained Unit
- mt
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The total indicated resource for Pilgangoora is 326 Mt at 1.32% Li2O, representing a substantial and high-confidence portion of the overall resource.
Positive factors
- Indicated Resource
- Tonnage Growth
- QP/CP Signed
- JORC Compliant
Evidence · table
“1.32”
Context: 326
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
indicatedPilgangoora · tantalumTonnes: 326000000Grade: 119Grade Unit: ppmContained Metal: 86Contained Unit: mlbView all detailsHide details
Identity
- Project
- Pilgangoora
- Commodity
- tantalum
- Ticker
- PLS
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Ross Jaine, Simon Kusabs
- Resource group id
- resource:739cc758e58e2e1d5880
- Deposit or zone
- Pilgangoora
Resource Data
- Category
- indicated
- Tonnes
- 326000000
- Grade
- 119
- Grade Unit
- ppm
- Contained Metal
- 86
- Contained Unit
- mlb
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The total indicated resource for Pilgangoora includes 119 ppm Ta2O5, contributing to byproduct potential.
Positive factors
- Indicated Resource
- QP/CP Signed
- JORC Compliant
Evidence · table
“119”
Context: 326
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
indicatedPilgangoora · iron_oreTonnes: 326000000Grade: 0.6Grade Unit: %View all detailsHide details
Identity
- Project
- Pilgangoora
- Commodity
- iron_ore
- Ticker
- PLS
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Ross Jaine, Simon Kusabs
- Resource group id
- resource:739cc758e58e2e1d5880
- Deposit or zone
- Pilgangoora
Resource Data
- Category
- indicated
- Tonnes
- 326000000
- Grade
- 0.6
- Grade Unit
- %
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The total indicated resource for Pilgangoora includes 0.60% Fe2O3, which is a minor component.
Positive factors
- Indicated Resource
- QP/CP Signed
- JORC Compliant
Evidence · table
“0.60”
Context: 326
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredPilgangoora · lithiumTonnes: 62000000Grade: 1.37Grade Unit: %Contained Metal: 0.8Contained Unit: mtView all detailsHide details
Identity
- Project
- Pilgangoora
- Commodity
- lithium
- Ticker
- PLS
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Ross Jaine, Simon Kusabs
- Resource group id
- resource:db071fb5258db3d77f62
- Deposit or zone
- Pilgangoora
Resource Data
- Category
- inferred
- Tonnes
- 62000000
- Grade
- 1.37
- Grade Unit
- %
- Contained Metal
- 0.8
- Contained Unit
- mt
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The total inferred resource for Pilgangoora is 62 Mt at 1.37% Li2O, representing a speculative but significant portion of the overall resource.
Positive factors
- QP/CP Signed
- JORC Compliant
Negative factors
- Inferred Resource
Evidence · table
“1.37”
Context: 62
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredPilgangoora · tantalumTonnes: 62000000Grade: 132Grade Unit: ppmContained Metal: 18Contained Unit: mlbView all detailsHide details
Identity
- Project
- Pilgangoora
- Commodity
- tantalum
- Ticker
- PLS
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Ross Jaine, Simon Kusabs
- Resource group id
- resource:db071fb5258db3d77f62
- Deposit or zone
- Pilgangoora
Resource Data
- Category
- inferred
- Tonnes
- 62000000
- Grade
- 132
- Grade Unit
- ppm
- Contained Metal
- 18
- Contained Unit
- mlb
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The total inferred resource for Pilgangoora includes 132 ppm Ta2O5, contributing to byproduct potential in a speculative category.
Positive factors
- QP/CP Signed
- JORC Compliant
Negative factors
- Inferred Resource
Evidence · table
“132”
Context: 62
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredPilgangoora · iron_oreTonnes: 62000000Grade: 0.5Grade Unit: %View all detailsHide details
Identity
- Project
- Pilgangoora
- Commodity
- iron_ore
- Ticker
- PLS
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Ross Jaine, Simon Kusabs
- Resource group id
- resource:db071fb5258db3d77f62
- Deposit or zone
- Pilgangoora
Resource Data
- Category
- inferred
- Tonnes
- 62000000
- Grade
- 0.5
- Grade Unit
- %
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The total inferred resource for Pilgangoora includes 0.50% Fe2O3, which is a minor component in a speculative category.
Positive factors
- QP/CP Signed
- JORC Compliant
Negative factors
- Inferred Resource
Evidence · table
“0.50”
Context: 62
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PilgangooraPilgangoora · lithiumTonnes: 403000000Grade: 1.33Grade Unit: %Contained Metal: 5.3Contained Unit: mtView all detailsHide details
Identity
- Project
- Pilgangoora
- Commodity
- lithium
- Ticker
- PLS
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Ross Jaine, Simon Kusabs
- Resource group id
- resource:1aec8e7e32f83d93a6a2
- Deposit or zone
- Pilgangoora
Resource Data
- Tonnes
- 403000000
- Grade
- 1.33
- Grade Unit
- %
- Contained Metal
- 5.3
- Contained Unit
- mt
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The total Pilgangoora Mineral Resource of 403 Mt at 1.33% Li2O represents a significant and updated estimate for the project.
Positive factors
- Tonnage Growth
- Contained Metal Growth
- QP/CP Signed
- JORC Compliant
Evidence · table
“1.33”
Context: 403
Tags used in scoring
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
PilgangooraPilgangoora · tantalumTonnes: 403000000Grade: 121Grade Unit: ppmContained Metal: 107Contained Unit: mlbView all detailsHide details
Identity
- Project
- Pilgangoora
- Commodity
- tantalum
- Ticker
- PLS
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Ross Jaine, Simon Kusabs
- Resource group id
- resource:1aec8e7e32f83d93a6a2
- Deposit or zone
- Pilgangoora
Resource Data
- Tonnes
- 403000000
- Grade
- 121
- Grade Unit
- ppm
- Contained Metal
- 107
- Contained Unit
- mlb
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The total Pilgangoora Mineral Resource includes 121 ppm Ta2O5, adding to the overall byproduct potential.
Positive factors
- QP/CP Signed
- JORC Compliant
Evidence · table
“121”
Context: 403
Tags used in scoring
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
PilgangooraPilgangoora · iron_oreTonnes: 403000000Grade: 0.58Grade Unit: %View all detailsHide details
Identity
- Project
- Pilgangoora
- Commodity
- iron_ore
- Ticker
- PLS
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Ross Jaine, Simon Kusabs
- Resource group id
- resource:1aec8e7e32f83d93a6a2
- Deposit or zone
- Pilgangoora
Resource Data
- Tonnes
- 403000000
- Grade
- 0.58
- Grade Unit
- %
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The total Pilgangoora Mineral Resource includes 0.58% Fe2O3, which is a minor component.
Positive factors
- QP/CP Signed
- JORC Compliant
Evidence · table
“0.58”
Context: 403
Tags used in scoring
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
provenPilgangoora · lithiumTonnes: 13200000Grade: 1.24Grade Unit: %Contained Metal: 0.2Contained Unit: mtView all detailsHide details
Identity
- Project
- Pilgangoora
- Commodity
- lithium
- Ticker
- PLS
Resource scope
- Estimate type
- reserve
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Ross Jaine, Simon Kusabs
- Resource group id
- resource:a4ff07d8b54fc9227946
- Deposit or zone
- Open Pit In-situ
Resource Data
- Category
- proven
- Tonnes
- 13200000
- Grade
- 1.24
- Grade Unit
- %
- Contained Metal
- 0.2
- Contained Unit
- mt
- Cutoff Grade
- 0.2
- Cutoff Unit
- % Li2O
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The proved open pit reserve of 13.2 Mt at 1.24% Li2O represents a high-confidence, economically viable portion of the deposit.
Positive factors
- Proven Reserve
- QP/CP Signed
- JORC Compliant
Evidence · table
“1.24”
Context: 13.2
Tags used in scoring
Proven Reservepositive
Measured Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "proven"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
provenPilgangoora · tantalumTonnes: 13200000Grade: 98Grade Unit: ppmContained Metal: 3Contained Unit: mlbView all detailsHide details
Identity
- Project
- Pilgangoora
- Commodity
- tantalum
- Ticker
- PLS
Resource scope
- Estimate type
- reserve
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Ross Jaine, Simon Kusabs
- Resource group id
- resource:a4ff07d8b54fc9227946
- Deposit or zone
- Open Pit In-situ
Resource Data
- Category
- proven
- Tonnes
- 13200000
- Grade
- 98
- Grade Unit
- ppm
- Contained Metal
- 3
- Contained Unit
- mlb
- Cutoff Grade
- 0.2
- Cutoff Unit
- % Li2O
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The proved open pit reserve includes 98 ppm Ta2O5, providing a byproduct credit.
Positive factors
- Proven Reserve
- QP/CP Signed
- JORC Compliant
Evidence · table
“98”
Context: 13.2
Tags used in scoring
Proven Reservepositive
Measured Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "proven"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
provenPilgangoora · iron_oreTonnes: 13200000Grade: 1Grade Unit: %View all detailsHide details
Identity
- Project
- Pilgangoora
- Commodity
- iron_ore
- Ticker
- PLS
Resource scope
- Estimate type
- reserve
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Ross Jaine, Simon Kusabs
- Resource group id
- resource:a4ff07d8b54fc9227946
- Deposit or zone
- Open Pit In-situ
Resource Data
- Category
- proven
- Tonnes
- 13200000
- Grade
- 1
- Grade Unit
- %
- Cutoff Grade
- 0.2
- Cutoff Unit
- % Li2O
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The proved open pit reserve includes 1.00% Fe2O3, which is a minor component.
Positive factors
- Proven Reserve
- QP/CP Signed
- JORC Compliant
Evidence · table
“1.00”
Context: 13.2
Tags used in scoring
Proven Reservepositive
Measured Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "proven"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
probablePilgangoora · lithiumTonnes: 181000000Grade: 1.18Grade Unit: %Contained Metal: 2.1Contained Unit: mtView all detailsHide details
Identity
- Project
- Pilgangoora
- Commodity
- lithium
- Ticker
- PLS
Resource scope
- Estimate type
- reserve
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Ross Jaine, Simon Kusabs
- Resource group id
- resource:40c6a96f8c89f17f6a83
- Deposit or zone
- Open Pit In-situ
Resource Data
- Category
- probable
- Tonnes
- 181000000
- Grade
- 1.18
- Grade Unit
- %
- Contained Metal
- 2.1
- Contained Unit
- mt
- Cutoff Grade
- 0.2
- Cutoff Unit
- % Li2O
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The probable open pit reserve of 181.0 Mt at 1.18% Li2O forms a significant portion of the overall reserve, indicating reasonable economic viability.
Positive factors
- Probable Reserve
- QP/CP Signed
- JORC Compliant
Evidence · table
“1.18”
Context: 181.0
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
probablePilgangoora · tantalumTonnes: 181000000Grade: 103Grade Unit: ppmContained Metal: 41Contained Unit: mlbView all detailsHide details
Identity
- Project
- Pilgangoora
- Commodity
- tantalum
- Ticker
- PLS
Resource scope
- Estimate type
- reserve
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Ross Jaine, Simon Kusabs
- Resource group id
- resource:40c6a96f8c89f17f6a83
- Deposit or zone
- Open Pit In-situ
Resource Data
- Category
- probable
- Tonnes
- 181000000
- Grade
- 103
- Grade Unit
- ppm
- Contained Metal
- 41
- Contained Unit
- mlb
- Cutoff Grade
- 0.2
- Cutoff Unit
- % Li2O
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The probable open pit reserve includes 103 ppm Ta2O5, contributing to byproduct potential.
Positive factors
- Probable Reserve
- QP/CP Signed
- JORC Compliant
Evidence · table
“103”
Context: 181.0
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
probablePilgangoora · iron_oreTonnes: 181000000Grade: 1.23Grade Unit: %View all detailsHide details
Identity
- Project
- Pilgangoora
- Commodity
- iron_ore
- Ticker
- PLS
Resource scope
- Estimate type
- reserve
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Ross Jaine, Simon Kusabs
- Resource group id
- resource:40c6a96f8c89f17f6a83
- Deposit or zone
- Open Pit In-situ
Resource Data
- Category
- probable
- Tonnes
- 181000000
- Grade
- 1.23
- Grade Unit
- %
- Cutoff Grade
- 0.2
- Cutoff Unit
- % Li2O
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The probable open pit reserve includes 1.23% Fe2O3, which is a minor component.
Positive factors
- Probable Reserve
- QP/CP Signed
- JORC Compliant
Evidence · table
“1.23”
Context: 181.0
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
probablePilgangoora · lithiumTonnes: 46500000Grade: 1.5Grade Unit: %Contained Metal: 0.7Contained Unit: mtView all detailsHide details
Identity
- Project
- Pilgangoora
- Commodity
- lithium
- Ticker
- PLS
Resource scope
- Estimate type
- reserve
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Ross Jaine, Simon Kusabs
- Resource group id
- resource:a13be290a15739efcefe
- Deposit or zone
- Underground In-situ
Resource Data
- Category
- probable
- Tonnes
- 46500000
- Grade
- 1.5
- Grade Unit
- %
- Contained Metal
- 0.7
- Contained Unit
- mt
- Cutoff Grade
- 1.2
- Cutoff Unit
- % Li2O
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The maiden probable underground reserve of 46.5 Mt at 1.50% Li2O represents a significant new, economically viable component of the overall reserve.
Positive factors
- Probable Reserve
- Category Upgrade
- QP/CP Signed
- JORC Compliant
Evidence · table
“1.50”
Context: 46.5
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
probablePilgangoora · tantalumTonnes: 46500000Grade: 135Grade Unit: ppmContained Metal: 14Contained Unit: mlbView all detailsHide details
Identity
- Project
- Pilgangoora
- Commodity
- tantalum
- Ticker
- PLS
Resource scope
- Estimate type
- reserve
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Ross Jaine, Simon Kusabs
- Resource group id
- resource:a13be290a15739efcefe
- Deposit or zone
- Underground In-situ
Resource Data
- Category
- probable
- Tonnes
- 46500000
- Grade
- 135
- Grade Unit
- ppm
- Contained Metal
- 14
- Contained Unit
- mlb
- Cutoff Grade
- 1.2
- Cutoff Unit
- % Li2O
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The maiden probable underground reserve includes 135 ppm Ta2O5, adding byproduct potential to this new reserve component.
Positive factors
- Probable Reserve
- Category Upgrade
- QP/CP Signed
- JORC Compliant
Evidence · table
“135”
Context: 46.5
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
probablePilgangoora · iron_oreTonnes: 46500000Grade: 0.72Grade Unit: %View all detailsHide details
Identity
- Project
- Pilgangoora
- Commodity
- iron_ore
- Ticker
- PLS
Resource scope
- Estimate type
- reserve
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Ross Jaine, Simon Kusabs
- Resource group id
- resource:a13be290a15739efcefe
- Deposit or zone
- Underground In-situ
Resource Data
- Category
- probable
- Tonnes
- 46500000
- Grade
- 0.72
- Grade Unit
- %
- Cutoff Grade
- 1.2
- Cutoff Unit
- % Li2O
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The maiden probable underground reserve includes 0.72% Fe2O3, which is a minor component.
Positive factors
- Probable Reserve
- Category Upgrade
- QP/CP Signed
- JORC Compliant
Evidence · table
“0.72”
Context: 46.5
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
provenPilgangoora · lithiumTonnes: 1600000Grade: 1.17Grade Unit: %Contained Metal: 0Contained Unit: mtView all detailsHide details
Identity
- Project
- Pilgangoora
- Commodity
- lithium
- Ticker
- PLS
Resource scope
- Estimate type
- reserve
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Ross Jaine, Simon Kusabs
- Resource group id
- resource:65c302e9fbfda965bdb2
- Deposit or zone
- Stockpiles
- Material type
- stockpile
Resource Data
- Category
- proven
- Tonnes
- 1600000
- Grade
- 1.17
- Grade Unit
- %
- Contained Metal
- 0
- Contained Unit
- mt
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The proved stockpile reserve of 1.6 Mt at 1.17% Li2O provides a high-confidence, readily available source of material.
Positive factors
- Proven Reserve
- QP/CP Signed
- JORC Compliant
Evidence · table
“1.17”
Context: 1.6
Tags used in scoring
Proven Reservepositive
Measured Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "proven"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
provenPilgangoora · tantalumTonnes: 1600000Grade: 109Grade Unit: ppmContained Metal: 0Contained Unit: mlbView all detailsHide details
Identity
- Project
- Pilgangoora
- Commodity
- tantalum
- Ticker
- PLS
Resource scope
- Estimate type
- reserve
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Ross Jaine, Simon Kusabs
- Resource group id
- resource:65c302e9fbfda965bdb2
- Deposit or zone
- Stockpiles
- Material type
- stockpile
Resource Data
- Category
- proven
- Tonnes
- 1600000
- Grade
- 109
- Grade Unit
- ppm
- Contained Metal
- 0
- Contained Unit
- mlb
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The proved stockpile reserve includes 109 ppm Ta2O5, providing a minor byproduct credit.
Positive factors
- Proven Reserve
- QP/CP Signed
- JORC Compliant
Evidence · table
“109”
Context: 1.6
Tags used in scoring
Proven Reservepositive
Measured Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "proven"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
provenPilgangoora · iron_oreTonnes: 1600000Grade: 0.87Grade Unit: %View all detailsHide details
Identity
- Project
- Pilgangoora
- Commodity
- iron_ore
- Ticker
- PLS
Resource scope
- Estimate type
- reserve
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Ross Jaine, Simon Kusabs
- Resource group id
- resource:65c302e9fbfda965bdb2
- Deposit or zone
- Stockpiles
- Material type
- stockpile
Resource Data
- Category
- proven
- Tonnes
- 1600000
- Grade
- 0.87
- Grade Unit
- %
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The proved stockpile reserve includes 0.87% Fe2O3, which is a minor component.
Positive factors
- Proven Reserve
- QP/CP Signed
- JORC Compliant
Evidence · table
“0.87”
Context: 1.6
Tags used in scoring
Proven Reservepositive
Measured Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "proven"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
probablePilgangoora · lithiumTonnes: 6900000Grade: 1.18Grade Unit: %Contained Metal: 0.1Contained Unit: mtView all detailsHide details
Identity
- Project
- Pilgangoora
- Commodity
- lithium
- Ticker
- PLS
Resource scope
- Estimate type
- reserve
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Ross Jaine, Simon Kusabs
- Resource group id
- resource:f84399fb7672fa9f71e4
- Deposit or zone
- Stockpiles
- Material type
- stockpile
Resource Data
- Category
- probable
- Tonnes
- 6900000
- Grade
- 1.18
- Grade Unit
- %
- Contained Metal
- 0.1
- Contained Unit
- mt
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The probable stockpile reserve of 6.9 Mt at 1.18% Li2O provides additional economically viable material.
Positive factors
- Probable Reserve
- QP/CP Signed
- JORC Compliant
Evidence · table
“1.18”
Context: 6.9
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
probablePilgangoora · tantalumTonnes: 6900000Grade: 112Grade Unit: ppmContained Metal: 2Contained Unit: mlbView all detailsHide details
Identity
- Project
- Pilgangoora
- Commodity
- tantalum
- Ticker
- PLS
Resource scope
- Estimate type
- reserve
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Ross Jaine, Simon Kusabs
- Resource group id
- resource:f84399fb7672fa9f71e4
- Deposit or zone
- Stockpiles
- Material type
- stockpile
Resource Data
- Category
- probable
- Tonnes
- 6900000
- Grade
- 112
- Grade Unit
- ppm
- Contained Metal
- 2
- Contained Unit
- mlb
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The probable stockpile reserve includes 112 ppm Ta2O5, providing a minor byproduct credit.
Positive factors
- Probable Reserve
- QP/CP Signed
- JORC Compliant
Evidence · table
“112”
Context: 6.9
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
probablePilgangoora · iron_oreTonnes: 6900000Grade: 2.06Grade Unit: %View all detailsHide details
Identity
- Project
- Pilgangoora
- Commodity
- iron_ore
- Ticker
- PLS
Resource scope
- Estimate type
- reserve
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Ross Jaine, Simon Kusabs
- Resource group id
- resource:f84399fb7672fa9f71e4
- Deposit or zone
- Stockpiles
- Material type
- stockpile
Resource Data
- Category
- probable
- Tonnes
- 6900000
- Grade
- 2.06
- Grade Unit
- %
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The probable stockpile reserve includes 2.06% Fe2O3, which is a minor component.
Positive factors
- Probable Reserve
- QP/CP Signed
- JORC Compliant
Evidence · table
“2.06”
Context: 6.9
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
provenPilgangoora · lithiumTonnes: 14800000Grade: 1.23Grade Unit: %Contained Metal: 0.2Contained Unit: mtView all detailsHide details
Identity
- Project
- Pilgangoora
- Commodity
- lithium
- Ticker
- PLS
Resource scope
- Estimate type
- reserve
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Ross Jaine, Simon Kusabs
- Resource group id
- resource:62005c7b61e4710a19a7
- Deposit or zone
- Pilgangoora
Resource Data
- Category
- proven
- Tonnes
- 14800000
- Grade
- 1.23
- Grade Unit
- %
- Contained Metal
- 0.2
- Contained Unit
- mt
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The total proved reserve for Pilgangoora is 14.8 Mt at 1.23% Li2O, representing a high-confidence, economically viable portion of the deposit.
Positive factors
- Proven Reserve
- QP/CP Signed
- JORC Compliant
Evidence · table
“1.23”
Context: 14.8
Tags used in scoring
Proven Reservepositive
Measured Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "proven"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
provenPilgangoora · tantalumTonnes: 14800000Grade: 99Grade Unit: ppmContained Metal: 3Contained Unit: mlbView all detailsHide details
Identity
- Project
- Pilgangoora
- Commodity
- tantalum
- Ticker
- PLS
Resource scope
- Estimate type
- reserve
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Ross Jaine, Simon Kusabs
- Resource group id
- resource:62005c7b61e4710a19a7
- Deposit or zone
- Pilgangoora
Resource Data
- Category
- proven
- Tonnes
- 14800000
- Grade
- 99
- Grade Unit
- ppm
- Contained Metal
- 3
- Contained Unit
- mlb
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The total proved reserve for Pilgangoora includes 99 ppm Ta2O5, providing a byproduct credit.
Positive factors
- Proven Reserve
- QP/CP Signed
- JORC Compliant
Evidence · table
“99”
Context: 14.8
Tags used in scoring
Proven Reservepositive
Measured Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "proven"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
provenPilgangoora · iron_oreTonnes: 14800000Grade: 0.99Grade Unit: %View all detailsHide details
Identity
- Project
- Pilgangoora
- Commodity
- iron_ore
- Ticker
- PLS
Resource scope
- Estimate type
- reserve
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Ross Jaine, Simon Kusabs
- Resource group id
- resource:62005c7b61e4710a19a7
- Deposit or zone
- Pilgangoora
Resource Data
- Category
- proven
- Tonnes
- 14800000
- Grade
- 0.99
- Grade Unit
- %
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The total proved reserve for Pilgangoora includes 0.99% Fe2O3, which is a minor component.
Positive factors
- Proven Reserve
- QP/CP Signed
- JORC Compliant
Evidence · table
“0.99”
Context: 14.8
Tags used in scoring
Proven Reservepositive
Measured Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "proven"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
probablePilgangoora · lithiumTonnes: 234400000Grade: 1.24Grade Unit: %Contained Metal: 2.9Contained Unit: mtView all detailsHide details
Identity
- Project
- Pilgangoora
- Commodity
- lithium
- Ticker
- PLS
Resource scope
- Estimate type
- reserve
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Ross Jaine, Simon Kusabs
- Resource group id
- resource:e07717ff978306da1d15
- Deposit or zone
- Pilgangoora
Resource Data
- Category
- probable
- Tonnes
- 234400000
- Grade
- 1.24
- Grade Unit
- %
- Contained Metal
- 2.9
- Contained Unit
- mt
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The total probable reserve for Pilgangoora is 234.4 Mt at 1.24% Li2O, representing a substantial and economically viable portion of the overall reserve.
Positive factors
- Probable Reserve
- Tonnage Growth
- Contained Metal Growth
- QP/CP Signed
- JORC Compliant
Evidence · table
“1.24”
Context: 234.4
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
probablePilgangoora · tantalumTonnes: 234400000Grade: 109Grade Unit: ppmContained Metal: 56Contained Unit: mlbView all detailsHide details
Identity
- Project
- Pilgangoora
- Commodity
- tantalum
- Ticker
- PLS
Resource scope
- Estimate type
- reserve
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Ross Jaine, Simon Kusabs
- Resource group id
- resource:e07717ff978306da1d15
- Deposit or zone
- Pilgangoora
Resource Data
- Category
- probable
- Tonnes
- 234400000
- Grade
- 109
- Grade Unit
- ppm
- Contained Metal
- 56
- Contained Unit
- mlb
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The total probable reserve for Pilgangoora includes 109 ppm Ta2O5, contributing to byproduct potential.
Positive factors
- Probable Reserve
- QP/CP Signed
- JORC Compliant
Evidence · table
“109”
Context: 234.4
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
probablePilgangoora · iron_oreTonnes: 234400000Grade: 1.16Grade Unit: %View all detailsHide details
Identity
- Project
- Pilgangoora
- Commodity
- iron_ore
- Ticker
- PLS
Resource scope
- Estimate type
- reserve
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Ross Jaine, Simon Kusabs
- Resource group id
- resource:e07717ff978306da1d15
- Deposit or zone
- Pilgangoora
Resource Data
- Category
- probable
- Tonnes
- 234400000
- Grade
- 1.16
- Grade Unit
- %
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The total probable reserve for Pilgangoora includes 1.16% Fe2O3, which is a minor component.
Positive factors
- Probable Reserve
- QP/CP Signed
- JORC Compliant
Evidence · table
“1.16”
Context: 234.4
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PilgangooraPilgangoora · lithiumTonnes: 249200000Grade: 1.24Grade Unit: %Contained Metal: 3.1Contained Unit: mtView all detailsHide details
Identity
- Project
- Pilgangoora
- Commodity
- lithium
- Ticker
- PLS
Resource scope
- Estimate type
- reserve
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Ross Jaine, Simon Kusabs
- Resource group id
- resource:2af9a2bb999c408a16ff
- Deposit or zone
- Pilgangoora
Resource Data
- Tonnes
- 249200000
- Grade
- 1.24
- Grade Unit
- %
- Contained Metal
- 3.1
- Contained Unit
- mt
Prior Estimate
- Resource Date
- 2026-06-30
- Prior Tonnes
- 202700000
- Prior Grade
- 1.16
- Prior Contained Metal
- 2.351
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The updated total Pilgangoora Ore Reserve of 249.2 Mt at 1.24% Li2O represents a significant 23% increase in tonnes and 31% increase in contained lithium compared to the prior estimate, underpinning the P2000 expansion.
Positive factors
- Tonnage Growth
- Contained Metal Growth
- Category Upgrade
- QP/CP Signed
- JORC Compliant
Evidence · table
“1.24”
Context: 249.2
Tags used in scoring
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Tonnage Growthpositive
Significant tonnage increase (≥15%) vs prior estimate with grade maintained or improved.
Why it applies: 249200000 against 202700000 previously
Grade Improvementpositive
Average resource grade improved vs prior estimate — better deposit economics.
Why it applies: 1.24 against 1.16 previously
Contained Metal Growthpositive
True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.
Why it applies: 3.1 against 2.351 previously
PilgangooraPilgangoora · tantalumTonnes: 249200000Grade: 109Grade Unit: ppmContained Metal: 60Contained Unit: mlbView all detailsHide details
Identity
- Project
- Pilgangoora
- Commodity
- tantalum
- Ticker
- PLS
Resource scope
- Estimate type
- reserve
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Ross Jaine, Simon Kusabs
- Resource group id
- resource:2af9a2bb999c408a16ff
- Deposit or zone
- Pilgangoora
Resource Data
- Tonnes
- 249200000
- Grade
- 109
- Grade Unit
- ppm
- Contained Metal
- 60
- Contained Unit
- mlb
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The updated total Pilgangoora Ore Reserve includes 109 ppm Ta2O5, contributing to byproduct potential for the expanded operation.
Positive factors
- QP/CP Signed
- JORC Compliant
Evidence · table
“109”
Context: 249.2
Tags used in scoring
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
PilgangooraPilgangoora · iron_oreTonnes: 249200000Grade: 1.15Grade Unit: %View all detailsHide details
Identity
- Project
- Pilgangoora
- Commodity
- iron_ore
- Ticker
- PLS
Resource scope
- Estimate type
- reserve
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Ross Jaine, Simon Kusabs
- Resource group id
- resource:2af9a2bb999c408a16ff
- Deposit or zone
- Pilgangoora
Resource Data
- Tonnes
- 249200000
- Grade
- 1.15
- Grade Unit
- %
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The updated total Pilgangoora Ore Reserve includes 1.15% Fe2O3, which is a minor component.
Positive factors
- QP/CP Signed
- JORC Compliant
Evidence · table
“1.15”
Context: 249.2
Tags used in scoring
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Fact 58P2000 ProjectView all detailsHide details
Identity
- Project
- P2000 Project
- Ticker
- PLS
Resource scope
- Resource group id
- resource:bc76bcd75c469153e374
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The P2000 Project has an incremental post-tax NPV of A$2.7 billion at an 8% real discount rate, indicating strong economic viability for the expansion.
Positive factors
- Strong Project Economics
Evidence · text
“Incremental net present value3 A$2.7B 8% real, post-tax discount rate”
Tags used in scoring
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Fact 59P2000 ProjectView all detailsHide details
Identity
- Project
- P2000 Project
- Ticker
- PLS
Resource scope
- Resource group id
- resource:bc76bcd75c469153e374
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The P2000 Project boasts an incremental post-tax IRR of 29.5%, indicating a highly attractive return on investment.
Positive factors
- Strong Project Economics
Evidence · text
“Incremental internal rate of return3 29.5% On cash flows post-tax”
Tags used in scoring
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Fact 60P2000 ProjectView all detailsHide details
Identity
- Project
- P2000 Project
- Ticker
- PLS
Resource scope
- Resource group id
- resource:bc76bcd75c469153e374
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The P2000 Project has an estimated capital expenditure of A$1.9 billion, representing a significant investment for the expansion.
Evidence · text
“P2000 Project capex ~A$1.9B”
Tags used in scoring
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Fact 61PilgangooraView all detailsHide details
Identity
- Project
- Pilgangoora
- Ticker
- PLS
Resource scope
- Resource group id
- resource:b41bf4df2fe3a4006b73
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The projected 10-year average unit operating cost of ~A$620/t FOB positions Pilgangoora as a cost-competitive producer.
Positive factors
- Low Operating Costs
Evidence · text
“Unit operating costs (FOB)2 ~A$620/t 10-year average unit operating costs (FOB, real)”
Tags used in scoring
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Metallurgical Results (1)
flotationPilgangoora · lithiumRecovery: 70 %View all detailsHide details
Identity
- Project
- Pilgangoora
- Commodity
- lithium
- Ticker
- PLS
Test Work
- Test Type
- flotation
- Processing Route
- whole-of-ore flotation
Recovery
- Recovery
- 70 %
- Recovery Basis
- unspecified
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The document states a target lithium recovery of 70% through the wet plant using whole-of-ore flotation, which is a moderate recovery for lithium but is presented as a target rather than an achieved test result.
Negative factors
- Theoretical Recovery Only
Evidence · text
“~70% lithium recovery Target lithia recovery through the wet plant.”
Tags used in scoring
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: processing_route matches the flotation signal
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.