BUZZ — Australia's PLS Group rises on $1.3 billion Pilgangoora expansion approval
* Shares of PLS Group rise as much as 6.1% to A$3.150, their biggest intraday pct gain since August 24 * Diversified miner approves a final investment decision for the A$1.9 billion ($1.31 billion) P2000 expansion at its Pilgangoora operation in Western Australia * Says the project will lift spodumene concentrate production to about 1.97 mln tonnes per annum over the first 10 years of steady-state operations * Co expects first production from the project in the September quarter of 2029 * PLS also revises FY27 capital expenditure guidance to A$1.11 bln-A$1.18 bln to incorporate the expansion and related infrastructure spending * YTD, stock down 25.4%, including the session's moves ($1 = 1.4455 Australian dollars) (Reporting by Paridhi Minda in Bengaluru) ((Paridhi.minda@thomsonreuters.com;)
* Shares of PLS Group rise as much as 6.1% to A$3.150, their biggest intraday pct gain since August 24 * Diversified miner approves a final investment decision for the A$1.9 billion ($1.31 billion) P2000 expansion at its Pilgangoora operation in Western Australia * Says the project will lift spodumene concentrate production to about 1.97 mln tonnes per annum over the first 10 years of steady-state operations * Co expects first production from the project in the September quarter of 2029 * PLS also revises FY27 capital expenditure guidance to A$1.11 bln-A$1.18 bln to incorporate the expansion and related infrastructure spending * YTD, stock down 25.4%, including the session's moves ($1 = 1.4455 Australian dollars) (Reporting by Paridhi Minda in Bengaluru) ((Paridhi.minda@thomsonreuters.com;)