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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Lithium has been identified by the US Government as a critical material for national security and the re-domiciling will cement Piedmont’s position as an important part of the US supply chain.
Piedmont now holds all of the federally-regulated permits required for the construction of the integrated lithium project.
The company expects to complete the DFS in mid-2021, after which it will pursue an investment decision for the concentrate operations.
The company also plans an update to the mineral resource estimate of the Central Property in early 2021, based on the result of drilling completed in September 2020.
The pilot plant design will support both the definitive feasibility study (DFS) of the company’s planned concentrate operations as well as a detailed design engineering of the full-scale operations.
The company recently signed a binding agreement with Tesla Inc (NASDAQ:TSLA) for the supply of spodumene concentrate from the company's North Carolina deposit.
Proceeds will be used to continue development of the company’s Piedmont Lithium Project, including definitive feasibility study, test-work, permitting, further exploration drilling and ongoing land consolidation.
The consecutive trading halts will remain in place until October 26 or when an announcement is released.
Lithium explorers and developers are gaining investor attention as nearly 12.7 million electric vehicles are expected to be produced across the globe in 2024, increasing from 3.4 million in 2020.
The company holds a 100% interest in the Piedmont Lithium Project, a pre-production business targeting the annual production of 160,000 tonnes of spodumene concentrate in North Carolina.
A 5,600-metre drill program is planned across the company’s properties in the Carolina Tin-Spodumene Belt.
AustralianSuper Pty Ltd now holds a 12.72% interest while FIL Limited has lifted its stake to 8.87%.
Proceeds from the recent capital raisings will help fund development work, including a DFS, for the Piedmont Lithium Project in North Carolina, USA.
Proceeds from the capital raisings will help fund the definitive feasibility study for the Piedmont Lithium Project in North Carolina, USA.
The results achieved in bench-scale lithium hydroxide test-work compare favourably with current current battery quality market specifications.
Primero will contract-operate the spodumene concentrator for a period of up to six years following construction.
The public offering will help fund the development of the company’s namesake lithium project in North Carolina, USA.
The public offering is expected to close on or about June 11 with the private placement expected to be completed in late July 2020, subject to shareholder approval.
The company is an emerging lithium chemicals company with the goal of becoming a strategic domestic supplier of battery-grade lithium hydroxide.
In late May, the company’s scoping study and chemical plant PFS confirmed it will be a strategic and low-cost producer of battery-grade lithium hydroxide.
