Piedmont Lithium Inc. reports developments around its lithium products business, capital structure, governance matters, and operating results. Company updates have centered on North American lithium supply-chain exposure, material agreements, shareholder voting matters, securities ownership disclosures, and financial results.
The company's recent news also reflects its completed merger with Sayona Mining Limited, after which Piedmont continued as a wholly owned subsidiary of Sayona. Related updates address security conversion, exchange-listing status, and corporate-status changes following the transaction.
Piedmont Lithium (Nasdaq: PLL) recently presented to the Gaston County Board of Commissioners about the Carolina Lithium Project, emphasizing its potential role in the U.S. electric vehicle supply chain. The company plans to submit its North Carolina state mining permit application in August 2021 and aims to establish environmentally responsible operations. CEO Keith Phillips addressed concerns over the project timeline, affirming that advancements and improved lithium markets justify the updated plans. Piedmont is positioned to become a leading low-cost lithium hydroxide producer, supporting America's transition to clean energy.
Pall Corporation has secured a contract valued at over $7 million with Exothera S.A. to develop a 2000L suspension-based manufacturing platform. This platform will utilize Allegro STR single-use bioreactors for producing viral vectors essential for gene therapies and vaccines. Exothera is expanding its capacity with new GMP facilities in Brussels, enhancing its production capabilities for viral vector platforms. Pall's expertise in scalable processes will support Exothera's goals, addressing increasing market demands highlighted by the COVID-19 pandemic.
Piedmont Lithium has established a strategic partnership with IronRidge Resources through definitive agreements. Piedmont will acquire a 9.47% equity stake in IRR and invest approximately $15 million. Additionally, it can earn a 50% interest in the Ewoyaa Project in Ghana by investing a total of $87 million over three to four years. The project forecasts average production of 295,000 t/y of spodumene concentrate, with a substantial after-tax net present value of $345 million and an internal rate of return of 125%.
Piedmont Lithium Inc. (Nasdaq: PLL) has secured approval from the Superior Court of Québec for its joint acquisition of North American Lithium (NAL) alongside Sayona Mining Limited. This acquisition will allow Sayona Québec to take ownership of all NAL shares and assets, free of encumbrances. NAL features a substantial lithium resource of 57.7 million tonnes and aims to leverage Québec's low-cost hydropower and infrastructure to enhance lithium hydroxide production. The partnership will synergize NAL’s operational restart with existing projects to serve the North American electric vehicle market.
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Piedmont Lithium announced the appointment of Michael White as Executive Vice President and Chief Financial Officer. White, who has over 25 years of financial leadership experience, will manage the company's financial operations as it prepares to ramp up production of lithium hydroxide in North Carolina.
CEO Keith Phillips expressed enthusiasm for White's track record in finance strategy and M&A activities, highlighting the company's focus on becoming a key player in the U.S. electric vehicle supply chain.
Piedmont Lithium Inc. (NASDAQ: PLL) has appointed Claude Demby and Susan Jones as new Non-Executive Directors, succeeding Anastasios Arima and Levi Mochkin, who have retired. Demby, with extensive governance experience, and Jones, a former executive at Nutrien, are expected to guide the company's growth in the fast-evolving electric vehicle market. Both bring significant operational expertise and board experience to enhance Piedmont's strategic objectives in lithium hydroxide production, vital for the U.S. electric vehicle supply chain.
Piedmont Lithium Inc. (NASDAQ:PLL) has successfully implemented a scheme of arrangement to re-domicile Piedmont Lithium Limited from Australia to the USA. All shares of Piedmont Australia have been transferred to Piedmont. Shareholders of Piedmont Australia will receive Scheme consideration in the form of Piedmont CDIs and shares, while ineligible foreign shareholders will have their entitlements sold by an agent, with proceeds remitted to them. The announcement was authorized by the Company's Chief Executive Officer.
Piedmont Lithium Limited (ASX: PLL; NASDAQ: PLL) has released its March 2021 quarterly report, highlighting significant advancements. Key achievements include appointing David Klanecky as COO and expanding the senior management team. The company successfully completed a U.S. public offering, raising $122.5 million. Mineral resources at the Piedmont Lithium Carolinas operations increased by 40%, now totaling 39.2 million tonnes. Piedmont initiated a Definitive Feasibility Study for its North Carolina lithium hydroxide project and acquired a 19.9% interest in Sayona Mining Limited.