PLS Group edges higher after Ganfeng cuts stake, lithium still on radar
Ganfeng Lithium’s GFL International sold 35.1 million shares in Pilbara Minerals (PLS) for about A$222 million, reducing its stake to 3.27%. PLS shares closed up 2.75% at A$6.36, outpacing the S&P/ASX 200’s 0.54% gain. Ganfeng said it will maintain commercial ties with PLS. Record March-quarter production and higher prices continue to support PLS stock.