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ASX / MEDIA ANNOUNCEMENT Pilbara Minerals ... Powering a sustainable energy future 19 FEBRUARY 2021 DECEMBER 2020 HALF - YEAR FINANCIAL REPORT HIGHLIGHTS • Improved market conditions and operational performance support an operating cash gross margin of $ 8.1M ( December 2019 half - year : operating cash gross margin loss of $ 1.8M ) . • 114,239 dmt of spodumene concentrate shipped ( December 2019 half - year : 53,222 dmt ) . Positive EBITDA of $ 1.7M before depreciation and amortisation of $ 12.9M and net financing costs of $ 10.0M ( December 2019 half - year : EBITDA loss of $ 24.1M ) . • Statutory net loss after tax of $ 21.2M ( December 2019 half - year : statutory loss of $ 63.4M ) . • Successful refinancing of US $ 100M Nordic Bond with low - cost US $ 110M Finance Facility on more favourable terms . • $ 179.6M of the $ 240.2M equity raising received ( before costs ) to fund the acquisition of Altura Lithium Operations Pty Ltd ( ALO ) , which completed in January 2021 . • 31 December 2020 cash balance of $ 248.0M . Pilbara Minerals Limited ( ASX : PLS ) ( Pilbara Minerals or the Company ) presents its financial report for the half - year to 31 December 2020 ( half - year ) . The Company's results and financial position for the half - year were positively influenced by : • • improved spodumene concentrate demand conditions which encouraged higher production , increased spodumene concentrate sales and contributed to a lower unit operating cost . A total of 114,239 dmt of concentrate was shipped to customers however , the SC6.0 market reference price remained weak ; refinancing of the US $ 100M Nordic Bond with a new low - cost US $ 110M Finance Facility , inclusive of deferred principal repayment terms , which strengthened the Company's balance sheet ; and • the execution of an agreement to acquire the Altura Project for US $ 175M² ( via the purchase of shares in ALO ) to facilitate the strategic consolidation of the adjoining lithium mining and processing operations . The acquisition was completed in January 2021 following a successful $ 240.2M ( before costs ) equity raising , with $ 179.6M of these funds received by 31 December 2020 . Pilbara Minerals achieved a positive cash gross margin of $ 8.1M for the half - year ( December 2019 half year : cash gross margin loss of $ 1.8M ) . This $ 9.9M improvement was achieved on the back of better market demand conditions , as well as improved plant performance and utilisation rates , which supported better economies of scale and resulted in a lower unit cash operating cost³ for the half - year of US $ 352 / dmt CIF China ( A $ 487 / dmt at an average AUD : USD exchange rate of 0.7227 ) . Level 2 , 88 Colin Street West Perth , Western Australia 6005 Phone : +61 8 6266 6266 Fax : +61 8 6266 6288 Web : pilbaraminerals.com.au ASX Code : PLS ACN 112 425 788 1