There is little doubt that lithium is by far the hottest commodity within the resource sector at the present time. Pilbara Minerals (ASX: PLS) has so far proven itself to be one of the stand-out success stories within the emerging lithium space over the past 12 months. The keys to its success have been largely fundamental, despite the significant hype associated with the sector over recent times. Its success has been based on a large, high-quality lithium deposit (Pilgangoora) in WA - a low-risk jurisdiction - where a sizeable 54% resource upgrade has just been announced. The good news is that extensional drilling is likely to lead to an even-larger resource, as the total strike length of the mapped pegmatites within its project area now extends for more than 6km. There’s plenty of news to come, with a PFS scheduled for completion in March 2016, a DFS in July 2016 and first production scheduled for 2018.