0401 GMT - PLS's new offtake agreement with Canmax Technologies is, on its own, marginally positive, according to Jefferies. It gives the miner "downside protection in the circumstance of consecutive lithium winters while delivering upside leverage," Jefferies says. "That being said, should it, as previously flagged, engender the restart of Ngungaju, increased supply will likely place downward pressure on prices," says Jefferies. The bank reiterates a hold rating and A$4.00 target on PLS's shares, which are up 1.0% at A$4.21. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
February 09, 2026 23:01 ET (04:01 GMT)
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