Why Pilbara’s Share Price Retreated 2.91% Today

Pilbara shares lifted 5% yesterday after the company announced that it had inked a deal with Chinese automaker Great Wall for early delivery of 20,000 tonnes of product a year over six years starting from next month. The miner also advised that shipped tonnes for the June quarter had come in at 43,214 tonnes, representing the higher end of previously revised guidance range of 23,000–45,000 tonnes.

Disappointing Trading for Pilbara Minerals

Pilbara Minerals Ltd [ASX:PLS] has seen a difficult few months. The mining company has continued to report solid production from their projects; however, a weakening demand for their profit has forced them to cut back on their operations to salvage cash flow and working capital.

Pilbara Minerals Share Price Down 6.38% after Troublesome Results

The Pilbara Minerals Ltd [ASX:PLS] share price has fallen dramatically by nearly 7% in morning trading, after the company’s update report revealed negative projections for both production and sales. Upon this fall, Pilbara Minerals was one of the worst performers on the All Ordinaries index today.
Money Morning Australia