Pilbara Minerals Limited (AU:PLS) has released an update.
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Pilbara Minerals Limited reported a 31% drop in revenue for the September quarter, driven by a decrease in lithium prices and sales volume. Despite a 3% decrease in production and a 17% reduction in cash balance, the company has strengthened its financial position by optimizing operations and securing a new A$1B debt facility. Additionally, Pilbara Minerals is set to enhance its cash flow by approximately $200M through strategic cost reductions and operational adjustments.
For further insights into AU:PLS stock, check out TipRanks’ Stock Analysis page.
