The Pilbara Minerals Ltd (ASX: PLS) share price is on watch after the ASX lithium share revealed its September 2025 quarter.
Pilbara Minerals is one of the largest lithium miners in the world. It’s best known for its Pilgangoora project in Australia.
September 2025 quarterly update
Pilbara Minerals reported how it performed in the three months to September 2025 compared to the June 2025 quarter.
September quarterly production grew by 2% to 224.8kt quarter on quarter, though sales declined 1% to 214kt. This reflected stable output from the Pilgan plant at Pilgangoora following the completion of the P1000 expansion in FY25.
The company reported that its realised price for its resources grew 24% to US$742 per tonne, while the SC6 price grew 20% to US$841 per tonne.
The resource price rise helped the company deliver much stronger revenue. Quarterly revenue jumped 30% to A$251 million for the three months to September, up from A$193 million in the June quarter.
Pilbara Minerals reported a significant decrease in its operating costs. The unit operating costs (FOB) excluding freight and royalties decreased 11% to US$353 per tonne and (CIF) including freight and royalties fell 9% to US$422 per tonne.
The decline in costs reflected the ongoing success of its operational efficiencies and cost reductions implemented across all areas of the business.
The company also reported that its cash balance declined by 13% over the quarter to A$852 million.
Growth projects
The company said its P2000 feasibility study to potentially expand Pilgangoora’s production capacity to more than 2mt are expected in FY27. Development timing will depend on successful studies, funding and a sustained higher lithium pricing environment.
In Brazil, the targeted exploration program at Colina continued with the aim of infilling and expanding the existing mineral resource and testing new targets. The outcomes of this are expected to be released in the June 2026 quarter, while the development strategy and timeline for the Colina project will be refined through ongoing studies.
Outlook for the Pilbara Minerals share price
The ASX lithium share is doing the right thing to conserve and improve profitability. However, the Pilbara Minerals share price is almost back to where it was in November 2024 following a signficant rise since June. I don’t think it’s a great time to buy with investor confidence returning strongly.
There are other ASX shares I’d rather buy right now.
