Australia's PLS Group slips; Bell Potter lowers PT on higher expansion costs

** Shares of Australia's PLS Group PLS.AX fall 2.7% to A$2.9, hitting their lowest level since November 7, 2025

** PLS, Australia's largest independent lithium producer, approved a A$1.9 billion($1.33 billion) expansion of its Pilgangoora lithium mine on Friday

** Company added the P2000 project will boost spodumene concentrate production at its flagship project in Western Australia to nearly 2 million tonnes per annum (mtpa) from 2029

** Analysts at Bell Potter make negligble changes to earnings forecasts based on the expansion, but lower target price by 7% to A$4.10, citing higher than expected operating costs for the expanded operation

** Bell Potter retains "buy" rating on stock

** PLS stock down over 31%, YTD

($1 = 1.4337 Australian dollars)