Piedmont Lithium welcomes strong support for A$45 million Sayona Mining placement
Piedmont contributed A$8 million during Sayona’s placement, strengthening its position as a major shareholder in its partner and fellow ASX-lister.
Company
ASX:PLL
Piedmont Lithium Inc (ASX:PLL) is developing a world-class integrated lithium business in the United States. The company's location is in the renowned Carolina Tin Spodumene Belt of North Carolina, and recently exercised an option to acquire an interest in the Ewoyaa Lithium Project in Ghana, which boasts an active mining lease and a large mineral resource. Piedmont has the potential to be one of the world’s lowest cost producers of lithium hydroxide.
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Piedmont contributed A$8 million during Sayona’s placement, strengthening its position as a major shareholder in its partner and fellow ASX-lister.
In what has been a "transformative" year for Piedmont, the investments enhance the company's plan to become America's number one producer of lithium hydroxide.
Piedmont and bid partner Sayona Mining are a step closer to finalising their North American Lithium purchase and establishing a lithium hub in Québec.
The dual-listed developer said its latest scoping study, which upgrades Carolina Lithium’s projected financial performance and annual production target, highlight’s the asset’s robust economics and sustainability.
Piedmont is in discussions with prospective regional customers and strategic partners in the solar glass, engineered quartz, ceramic tile and other industrial minerals markets.
The company in a joint bid with Sayona, aims to acquire the NAL facilities in La Corne in Abitibi‐Témiscamingue and to restart production as soon as possible.
Piedmont is developing a world-class integrated lithium business in the United States, enabling the transition to a net-zero world and the creation of a clean energy economy in America.
Piedmont is developing a world-class integrated lithium business in the United States, enabling the transition to a net zero world and the creation of a clean energy economy in America.
The company in a joint bid with Sayona, aims to acquire the NAL facilities in La Corne in Abitibi‐Témiscamingue and to restart production as soon as possible.
The company’s unique geographic proximity of resources, production operations and prospective customers positions it on the path to be among the most sustainable producers of lithium hydroxide in the world.
The expanded resource for the Piedmont Lithium Project offers the potential for increased annual production, which the company will evaluate through an updated scoping study targeted for release next month.
The company believes new executive vice president and COO David Klanecky is uniquely qualified to lead the operating team as it moves into the execution stage of building America’s foremost integrated lithium hydroxide business.
Proceeds will be used to continue the development of the Piedmont Lithium Project in the prolific Carolina Tin Spodumene Belt of North Carolina.
Proceeds from the offering will go towards the development of the Piedmont Lithium Project, including definitive feasibility studies, test-work, permitting, further exploration drilling and mineral resource estimate updates.
The integrated DFS, which will incorporate work underway on concentrate operations, with Metso Outotec joining its technical team, is expected to be completed in the third quarter of 2021.
The court has approved the despatch of the scheme booklet that includes an independent expert’s report which concludes that the scheme is in the best interests of Piedmont shareholders.
The metal, a key component in the batteries being used to power the electric vehicle boom, is one of many commodities enjoying a positive run in 2021.
Hannigan brings extensive industry knowledge, leadership and corporate relationships with a focus on battery and advanced manufacturing materials.
The company has expanded its senior management team as it progresses its integrated lithium hydroxide project in North Carolina toward construction later in 2021 and plans to redomicile its primary listing to the United States.
The company is set to acquire 19.9% of Sayona Mining and 25% of Sayona Quebec and has entered a binding supply agreement for 50% of Sayona Quebec’s spodumene concentration production.