Australia's PLS Group gains, CEO sees deepening demand for lithium

Pls

24/04/2026 05:09

Updates

** Shares of lithium miner PLS Group PLS.AX rise as much as 6.2% to A$6.03, marking their biggest intraday pct gain since April 17

** "In aggregate, what we're seeing in the sector is deepening and broadening demand and strong tailwinds for lithium operators," CEO Dale Henderson told Reuters

** A clear beat, driven by stronger-than-expected production and a meaningful cost outperformance, said Kaan Peker, RBC Capital analyst, in a note

** Co reports 86% increase in third-quarter spodumene concentrate production

** Plans to ramp up Ngungaju plant in Western Australia to steady-state production by the September quarter

** Says major maintenance overhauls at its Ngungaju plant scheduled for June 2026

** Stock up 38% YTD, including session's gains

(Reporting by Sruthi Narasimha Chari in Bengaluru)

((Sruthinarasimha.chari@thomsonreuters.com))