Shares in emerging lithium producer Pilbara Minerals Ltd (ASX: PLS) have rallied upwards in early morning trade on the release of a corporate presentation detailing its operations.
Pilbara Minerals shares were up 1.3% to 92c per share at the time of writing – up from just 44c per share at this time last year.
The report detailed Pilbara’s position as a key supplier of lithium to global markets with much of the company’s future growth pinned to lithium ion rapidly becoming the dominant rechargeable battery technology.
The report details the company’s Pilgangoora Project as having “outstanding project economics” with a “rapid pathway through construction and production” from the second-half of FY18 – meaning Pilbara is ideally-placed to capitalise on robust lithium market outlook and demand.
In the lithium space global player Galaxy Resources Limited (ASX: GXY) shares are back on the incline after a February downturn – up 1% to $3.24 at the time of writing with an update of its feasibility study for the Sal de Vida Project announced today indicating the project has a highly-profitable 40-year life.
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Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.