Today I posted my two-hundred-and-fifteenth YouTube video: Quick Pick Pilbara Minerals
This week’s Quick Pick is Pilbara Minerals (OTCMKTS: PILBF). Pilbara is an Australian hard rock lithium producer. Hard rock lithium comes from mining spodumene deposits as opposed to getting lithium from brine. Turning lithium from brine into the Form of lithium that can be used in a battery requires more processing steps. That can make spodumene a lower-cost source if the deposit is rich enough. Currently, just about all lithium has to be processed in China before going to battery makers. American companies like Tesla hope to open processing plants of their own, and Pilbara has plans to build a test processing facility in Australia. The company will decide in early 2023 if it will go ahead with that plan. The stock is up about 26% for 2022. Pilbara recently released its fiscal first quarter 2023 results with gross sales reaching $1.04 billion, a number that’s nearly equivalent to the total revenue for all of the 2022 fiscal year. Clearly, the company is in the early stages of a growth ramp. I’m adding this stock to my Special Report: “Buy the Future for Pennies with These 10 Penny Stock Picks” on my subscription JubakAM.com investing site (as the # 9 Pick.) I’ll also be adding it to my Millennial Portfolio on that site on Friday, December 10.
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