Monday, August 2, 2021

Company profile: Piedmont Lithium (Nasdaq:PLL)

Piedmont Lithium provides an update on the company's recent accomplishments and development plans (2 Aug 2021)

Carolina Lithium Project
  • Scoping update published in June 2021 contemplating 30,000 tonnes per year lithium hydroxide production on a single integrated site in Gaston County, North Carolina
  • Expected to employ ~500 people in well-paying jobs while making Gaston County a magnet for other businesses in the EV supply chain, and driving opportunities for a broad array of local small businesses
  • Definitive feasibility study expected in the second half of 2021
  • Permitting and approval process advancing
Strategic Initiatives
  • Canada -- Sayona Quebec and North American Lithium ("NAL")
  • Ghana -- IronRidge Resources ("IRR")
  • Piedmont has offtake agreements in place for 50% of spodumene concentrate production from Sayona/NAL and IRR Ghana, underpinning potential future growth in lithium hydroxide production
PLL weekly 8/25/21 (live)

Corporate Matters
  • Piedmont redomiciled to become a US corporation in May 2021
  • Executive team bolstered with senior appointments including COO and CFO
  • Lithium offtake discussions ongoing with leading participants in the EV supply chain
  • Strategic partnering process underway and DOE ATVM loan application to be submitted in H2 2021
  • Cash balance of approximately $143 million as of June 30, 2021

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