Piedmont Lithium Inc Stock Price, News & Analysis

Piedmont Lithium (NASDAQ: PLL) and Sayona Mining announced a merger agreement to create North America's largest lithium producer. The all-stock merger will result in approximately 50/50 ownership split between shareholders of both companies. The transaction includes a total equity raising of approximately US$99 million, with Piedmont raising ~US$27 million, Sayona undertaking a A$40 million raise, and a conditional placement of A$69 million to Resource Capital Fund VIII L.P. post-merger.

The merger aims to simplify corporate structure, align North American Lithium offtake economics, and create significant synergies. The combined entity will maintain listings on both ASX and NASDAQ, with completion expected in the first half of 2025, subject to shareholder and regulatory approvals.

Piedmont Lithium (PLL) reported Q3 2024 results with record shipments of 31,500 dmt of spodumene concentrate and revenue of $27.7 million. North American Lithium (NAL) achieved new production records with 52,100 dmt and 91% mill utilization. The company realized $878 per ton in a challenging market, outperforming industry peers. Financial highlights include $64.4 million in cash and a new $25 million working capital facility. The company expects Q4'24 shipments of 41,000-55,000 dmt, projecting total 2024 shipments of 102,000-116,000 dmt. Operating costs improved with a 15% quarter-over-quarter reduction to $729/dmt.

Battery X Metals announced significant progress in developing eco-friendly lithium-ion battery material recovery technology in partnership with a Global Top 20 University. Their proprietary froth flotation process showed promising results in recovering battery-grade materials from black mass, with initial tests achieving approximately 45% graphite separation. Multi-stage flotation protocols demonstrated more efficient material separation than single-stage methods. The company plans to pursue provisional patents and aims to license this technology to battery recyclers, adopting a low-capex, scalable business model.

Piedmont Lithium (Nasdaq: PLL; ASX: PLL) announced it will release its third quarter 2024 earnings before the Nasdaq open on Tuesday, November 12, 2024, at 7:00 a.m. Eastern Time. The company will host a conference call to discuss the results at 8:30 a.m. Eastern Time on the same day. Piedmont is developing an integrated lithium business focused on becoming one of North America's largest lithium hydroxide producers, with projects in the United States, Quebec, and Ghana.

Piedmont Lithium (NASDAQ:PLL) reported Q3'24 operational results from its North American Lithium (NAL) joint venture. The company shipped approximately 31,500 dmt of spodumene concentrate in Q3'24 and targets 55,000 dmt for Q4. NAL achieved record quarterly production of 52,141 dmt, up 5% from Q2'24, with mill utilization reaching 91% and lithium recovery at 67%. Due to a customer request, a planned cargo will shift from Q4'24 to early Q1'25, adjusting 2024 guidance from 126,000 dmt to approximately 116,000 dmt. The company reported improved unit operating costs, declining 15% quarter-over-quarter.

Piedmont Lithium (Nasdaq: PLL; ASX: PLL), a leading North American supplier of lithium products for the U.S. electric vehicle supply chain, announced that the Minerals Commission of Ghana has issued a Mine Operating Permit for the joint venture Ewoyaa Lithium Project in Ghana. This permit is a crucial milestone in obtaining the necessary regulatory approvals to begin project construction.

The Ewoyaa project is being developed in partnership with Atlantic Lithium (AIM: ALL, ASX: A11). Patrick Brindle, Chief Operating Officer of Piedmont Lithium, expressed satisfaction with the permit issuance and anticipation for the project's future development, subject to mining lease ratification by the Ghanaian Parliament, ongoing design works, and market conditions.

Piedmont Lithium (Nasdaq: PLL; ASX: PLL) announced that Ghana's Environmental Protection Agency (EPA) has granted an environmental permit to the Ewoyaa Lithium Project in Ghana. This project is being developed in partnership with Atlantic Lithium Piedmont exercised its option to acquire a 22.5% interest in Ewoyaa in August 2023, as part of its staged investment agreement to earn a 50% equity interest in Atlantic Lithium's Ghanaian lithium portfolio. Piedmont's Chief Operating Officer, Patrick Brindle, described the EPA Permit as a major milestone in the project's development. The company now awaits the ratification of the mining lease and eventual construction, subject to remaining approvals and market conditions.

Piedmont Lithium (Nasdaq: PLL; ASX: PLL), a leading North American supplier of lithium products for the U.S. electric vehicle supply chain, has announced an update to the mineral resource estimate for North American Lithium (NAL). This update was reported by Sayona Mining (ASX: SYA), which jointly owns NAL with Piedmont in a 75%-25% split.

The mineral resource update, prepared in accordance with the JORC Code (2012), signifies a potential increase in the lithium resources at NAL. However, Piedmont cautions that Sayona's statements have not been independently verified, and Sayona is not subject to U.S. reporting requirements. Investors are advised to exercise caution when considering this information.

Piedmont Lithium (Nasdaq: PLL; ASX: PLL) reported its Q2 2024 results. The company achieved a revenue of $13.2M from 14,000 dmt of spodumene concentrate sales, with a realized price per ton of $945, up from $865 in Q1 2024. NAL, co-owned by Piedmont, reached steady-state production, with a 23% QoQ increase, producing 49,700 dmt, and improved lithium recovery rates of 68% and mill utilization of 83%.

In H2 2024, Piedmont plans to ship 96,500 dmt, totaling 126,000 dmt for the year. The company has $59M in cash as of June 30, 2024, and expects capital expenditures to decrease significantly in H2 2024. Piedmont received a state mining permit for Carolina Lithium and plans to consolidate its U.S. lithium hydroxide production strategy.

For the Ewoyaa project in Ghana, Piedmont is pursuing funding alternatives, including offtake partnerships. Financial highlights include a gross profit of $0.6M, a net loss of $13.3M, and an adjusted EBITDA of -$13.2M.