Piedmont Lithium Inc Stock Price, News & Analysis

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.

Piedmont Lithium (Nasdaq: PLL) announced Q2'24 operational results for its jointly owned North American Lithium (NAL) mine. Key highlights include:

• Shipped approximately 14,000 dmt of spodumene concentrate in Q2'24
• Record quarterly production of 49,660 dmt, up 23% from Q1'24
• New quarterly highs: 68% lithium recovery and 83% process plant utilization
• Targeting 96,500 dmt shipments in H2'24
• Crushed ore dome now operational, expected to improve production and utilization

NAL achieved significant progress towards steady-state production, with June seeing 91% mill utilization and a single-day production record of 919 dmt. Piedmont aims to increase shipments to contract customers in H2'24.

Piedmont Lithium (Nasdaq: PLL; ASX: PLL), a leading North American supplier of lithium products for the U.S. electric vehicle supply chain, has announced the release of its second quarter 2024 earnings on August 8, 2024. The earnings will be released at 7:00 a.m. Eastern Time, before the Nasdaq opens. A conference call to discuss the results is scheduled for 8:30 a.m. Eastern Time on the same day.

The company is developing an integrated lithium business with multiple assets, focusing on enabling the transition to a net zero world and creating a clean energy economy in North America. Piedmont aims to become one of the largest lithium hydroxide producers in North America, with projects in the United States and partnerships in Quebec and Ghana.

Piedmont Lithium (Nasdaq: PLL; ASX: PLL), a key North American lithium supplier, has released its 2023 Sustainability Report. The report highlights the company's ESG achievements, including progress in permitting, safety management, DEI, community partnerships, grants, risk management, and cybersecurity.

Piedmont has advanced permitting for its lithium projects to meet U.S. environmental standards and established a contractor safety program. The firm was named among the 2023 Best Places to Work by the Charlotte Business Journal. They formed a DEI council and implemented a DEI policy, partnered with Cherryville for community benefits, and hosted informational fairs near Carolina Lithium. Over $200,000 in grants and scholarships were funded through the Piedmont Lithium Foundation. The company also introduced robust cybersecurity measures and formalized an enterprise risk management program.

Piedmont Lithium (Nasdaq: PLL; ASX: PLL) has reported continued high-grade drill results at its North American Lithium (NAL) project in Quebec. The 2023-2024 drill program has discovered new, high-grade lithium zones, with consistent mineralization within the planned pit shell model. These results suggest a potential upgrade to the mineral resource estimate. A further 30,000 meters of exploration drilling is set for 2024. The NAL project, jointly owned by Piedmont (25%) and Sayona Mining (75%), has been achieving record spodumene concentrate volumes since March 2023, targeting steady-state production in the second half of 2024.

Keith Phillips, CEO of Piedmont, emphasized the strategic importance of NAL, highlighting its status as the only North American lithium mine producing IRA-compliant spodumene concentrate. Phillips anticipates an update on the mineral resource estimate soon.

Investors are cautioned about differences in mineral resource reporting standards between Piedmont and Sayona Mining.