Piedmont Lithium Ltd (ASX:PLL) has received a vote of confidence from its director Jorge Beristain who purchased 8,510 Piedmont American Depositary Shares (ADRs) representing 851,000 ordinary shares.
The on-market purchases on January 9 and 10 were for a total consideration of US$78,313.
US Federal permit secured
Piedmont recently achieved a major milestone by securing the Section 404 Permit under the Clean Water Act (CWA) from the US Army Corps of Engineers (USACE) for its Piedmont Lithium Project in North Carolina, US.
The USACE completed an Environmental Assessment (EA) of the project in conjunction with six other state and federal agencies based on Piedmont’s December 2018 permit application and the company’s responses to agency and public comments.
The EA resulted in a Finding of No Significant Impact for the project. It is worth noting that the Section 404 Permit is the only federal permit required for the proposed mine and concentrator.
Development activities to be accelerated
Piedmont will accelerate development activities for the integrated lithium chemical business and the company expects to complete a preliminary feasibility study (PFS) for its lithium hydroxide plant in Q2 2020 and a definitive feasibility study (DFS) for the company’s integrated project by the end of 2020.