Piedmont Lithium Inc Stock Price, News & Analysis

Piedmont Lithium Limited (ASX: PLL; NASDAQ: PLL) announced significant progress in its December 2020 quarterly report. Key highlights include the commencement of a definitive feasibility study for a 160,000 t/y spodumene concentrate operation in North Carolina, expansion of drilling programs, and receipt of essential permits for a lithium hydroxide plant. The company also expanded its land position to 2,322 acres and initiated a re-domicile process to move its primary listing to Nasdaq. A successful U.S. public offering raised $57.5 million, strengthening its financial position.

Piedmont Lithium Limited has announced the appointment of four new senior management team members: Ms. Malissa Gordon, Mr. Jim Nottingham, Mr. John “Pratt” Ray, and Mr. Brian Risinger. These appointments align with the Company’s objectives to advance its lithium hydroxide project in North Carolina and to redomicile its primary listing to the U.S. The new team members bring extensive experience in community relations, project management, mining, and corporate communications, enhancing Piedmont's capacity to transition from study to implementation.

Piedmont Lithium Limited has announced a strategic partnership with Sayona Mining Limited, involving a total investment of approximately US$12 million. Piedmont will acquire a 9.9% equity stake in Sayona for US$3.1 million and two convertible notes worth US$3.9 million, potentially increasing their stake to 19.9%. Additionally, Piedmont is investing US$5.0 million for a 25% stake in Sayona's Quebec subsidiary, which oversees the Authier and Tansim lithium projects. A binding supply agreement will secure at least 50% of Sayona Quebec's spodumene concentrate production, ensuring a consistent lithium supply.

Pall Corporation has entered a strategic partnership with Single Use Support GmbH to improve the safe handling of biologics. The collaboration will focus on distributing the RoSS platform, enhancing Pall's integrated solutions for the biopharma industry. This initiative aims to provide a fully validated end-to-end solution, thereby facilitating the efficient delivery of life-saving drugs. Pall's investment and combined expertise promise to make these innovative solutions more accessible to global biopharma customers.

Piedmont Lithium Limited plans to re-domicile from Australia to the United States, transitioning its primary listing from the ASX to the Nasdaq, pending shareholder, regulatory, and court approvals. The proposed Scheme will see Piedmont USA become the parent company, allowing investors to receive shares accordingly. This move aims to attract more U.S. investors, facilitate access to capital, and enhance the company's structure for future strategic opportunities. The Board recommends shareholder support, with a vote expected in March 2021.

Piedmont Lithium Limited has secured an air permit from the North Carolina Department of Environmental Quality for its planned lithium hydroxide chemical plant in Kings Mountain, North Carolina. This significant milestone follows a detailed review of the permit application submitted in October 2020. The permit outlines emission limits and air cleaning operations for the facility. Alongside a previously received federal permit, Piedmont now possesses all essential permits for the construction of its integrated project, which aims to be the only spodumene-to-hydroxide project in the U.S.

Piedmont Lithium Limited has awarded the definitive feasibility study (DFS) for its spodumene concentrate operations in North Carolina to Primero Group and Marshall Miller & Associates. The DFS aims for production of 160,000 tonnes per year of SC6, with co-products including quartz and feldspar. Completion of the DFS is expected by mid-2021, followed by an investment decision. Piedmont is also set to start a DFS for a lithium chemical plant in Q1 2021, and anticipates beginning construction in mid-2021 to meet the growing lithium hydroxide demand expected in 2022-2023.

Piedmont Lithium Limited has partnered with SGS Canada to conduct a pilot-scale spodumene concentrator testwork program in Lakefield, Ontario. The initiative utilizes a 50-tonne bulk sample from the Piedmont Lithium Project in North Carolina, collected in February 2020. The pilot plant aims to produce spodumene concentrate with at least 6.0% Li₂O and less than 1.0% Fe₂O₃. This pilot program is crucial for supporting the definitive feasibility study and detailed design engineering of the company's lithium operations.

Piedmont Lithium Limited (ASX: PLL; NASDAQ: PLL) reported significant progress in its September 2020 quarterly report. Major highlights include a binding agreement to supply spodumene concentrate to Tesla for five years, successful lithium hydroxide testwork from Piedmont's ore, and resuming drilling in the Carolina Tin-Spodumene Belt. Additionally, the company appointed a new VP of Sales & Marketing and completed a public offering, raising $57.5 million. These actions strengthen its balance sheet and advance plans to become the first new American lithium hydroxide producer in decades.