Piedmont Lithium Inc. - $PLL STOCK NEWS

Piedmont Lithium (Nasdaq: PLL; ASX: PLL), a key North American lithium supplier, announced significant high-grade lithium mineralization at North American Lithium (NAL) in Quebec.

The 2023 drill program revealed thick, high-grade spodumene-bearing pegmatites beyond current pit operations and planned pit shell models. These findings could lead to a substantial resource upgrade and potential mine life extension.

Piedmont owns 25% of NAL, while Sayona Mining holds 75%. NAL, the largest lithium operation in North America, restarted production in March 2023, achieving record production volumes each quarter.

CEO Keith Phillips emphasized the strategic importance of NAL, noting the potential for increased annual production and a longer mine life. Investors are cautioned about differences in public disclosures between Piedmont and Sayona due to varying regulatory frameworks.

Piedmont Lithium Inc. reported record quarterly production at North American Lithium (NAL), achieving 40,439 dry metric tons of spodumene concentrate in Q1’24 with strong lithium recoveries. The Carolina Lithium mining permit was received in May 2024, accelerating funding discussions. Revenue reached $13.4 million, cash stood at $71.4 million, and the outlook for 2024 includes doubling shipments and reducing investments by over 50% in H2’24 vs. H1’24.

Piedmont Lithium announced the shipment of approximately 15,500 dmt of spodumene concentrate in Q1’24, achieving record quarterly production of 40,439 dmt at North American Lithium. The company targets steady-state operations in H2’24, with a forecast of shipping around 126,000 dmt in 2024.

Piedmont Lithium, a key supplier of lithium for electric vehicles, will release its first-quarter 2024 earnings on May 9, 2024. The company will discuss the results during a conference call at 8:30 a.m. Eastern Time.

Piedmont Lithium receives mining permit approval for Carolina Lithium project in North Carolina, aiming to become a low-cost, sustainable lithium hydroxide producer for the U.S. electric vehicle supply chain.

The Mining Investment Event of the North welcomes Quebec Minister Maïté Blanchette Vézina as Keynote Speaker for 2024. The event features panels, keynotes, and networking sessions with industry leaders. Participating companies include various mining and exploration firms.

Piedmont Lithium (PLL) announces successful ramp-up of spodumene production at North American Lithium (NAL), exceeding recovery targets and achieving daily production records. Key capital projects to reduce operating costs expected to be completed in Q2 2024. Shipments to contract customers starting in 2024 to reduce reliance on spot markets. Production quality remains consistent at 5.45% Li2O.

Piedmont Lithium appoints Dawne Hickton to its Board of Directors, bringing extensive manufacturing expertise and cross-industry experience to enhance strategic guidance. Hickton's background in aerospace, energy, and metals industries adds valuable insights to advance the company's business strategy in the global lithium market and drive shareholder value.

Piedmont Lithium Inc. reported $39.8 million in full-year revenue with 43.2 thousand dmt sales of spodumene concentrate. The company achieved $5.7 million in gross profit in 2023, despite facing challenges due to a downturn in lithium prices. The focus remains on ramping up production at the North American Lithium (NAL) operation, with further improvements expected in 2024. Permitting and regulatory approvals are progressing in Ghana and North Carolina. The company plans to shift towards multi-year customer contracts to reduce volatility in sales. Piedmont's cash and cash equivalents stood at $71.7 million as of December 31, 2023, with net proceeds of approximately $49.1 million from asset sales in Q1'24.