Managing director of lithium heavyweight adds to stake
Dale Henderson spent more than A$1.1 million buying shares in the lithium miner he leads earlier this week.The Pilbara Minerals managing director bought 500,000 shares on-market on Monday as the stock headed towards $2.15, its lowest level since mid-2022.Henderson, who now has nearly 1.6 million shares , paid an average of $2.23/share for the latest additions to his portfolio.Henderson's buying was well-timed, with the stock shooting up Tuesday to levels around $2.
The current lithium sector is suffering a prolonged winter of low pricing due to oversupply and lower than anticipated EV demand.However, Pilbara is adamant that long-term demand for EVs and battery storage remains "incredibly robust".Speaking at the company's AGM late last month, chair Kathleen Conlon said Pilbara Minerals believes "no other lithium company is better placed to weather current conditions and capitalise when the market turns than Pilbara Minerals".
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