After tax, Pilbara's underlying net loss totalled AU$88 million. "Despite the softer pricing environment, our balance sheet remains robust," noted Henderson, adding that the lithium market's long-term fundamentals "remain intact," with potential tightness ahead. "While market volatility may persist in the near term, our confidence is anchored in what we control — disciplined execution, operational excellence and strategic agility," he added, key points he also discussed in his presentation at Fastmarkets' Lithium Supply & Battery Raw Materials event, held this past June in Las Vegas. Pilbara ended the fiscal year with approximately AU$1 billion in cash and AU$1.6 billion in total liquidity. Several transactions by the company have made headlines over the past year, including its AU$560 million acquisition of Latin Resources, which was approved in January.