Piedmont Lithium Inc. - PLL STOCK NEWS

Piedmont Lithium Inc. (Nasdaq: PLL) provides an update on the rezoning process for its Carolina Lithium Project. On August 6, 2021, Gaston County commissioners approved a 60-day development moratorium for mining approvals to review regulations. CEO Keith Phillips expresses gratitude for the county's leadership, stating that the resolution aims to support economic growth and not halt mining. Piedmont is on track to publish its Definitive Feasibility Study in the second half of 2021 and is working on necessary state and county permits for the project.

Piedmont Lithium Inc. (Nasdaq: PLL) updates on projects and strategic initiatives. The Carolina Lithium Project aims for 30,000 tpy lithium hydroxide production with an estimated NPV of ~$1.9 billion and EBITDA of ~$400 million. It will create ~500 jobs. The company owns a 39.6% interest in Sayona Quebec and is acquiring a 9.5% stake in IronRidge Resources, strengthening its lithium production footprint. Cash reserves stand at approximately $143 million as of June 2021. The CEO emphasizes the commitment to community and future growth in the lithium market.

Piedmont Lithium (Nasdaq: PLL) recently presented to the Gaston County Board of Commissioners about the Carolina Lithium Project, emphasizing its potential role in the U.S. electric vehicle supply chain. The company plans to submit its North Carolina state mining permit application in August 2021 and aims to establish environmentally responsible operations. CEO Keith Phillips addressed concerns over the project timeline, affirming that advancements and improved lithium markets justify the updated plans. Piedmont is positioned to become a leading low-cost lithium hydroxide producer, supporting America's transition to clean energy.

Pall Corporation has secured a contract valued at over $7 million with Exothera S.A. to develop a 2000L suspension-based manufacturing platform. This platform will utilize Allegro STR single-use bioreactors for producing viral vectors essential for gene therapies and vaccines. Exothera is expanding its capacity with new GMP facilities in Brussels, enhancing its production capabilities for viral vector platforms. Pall's expertise in scalable processes will support Exothera's goals, addressing increasing market demands highlighted by the COVID-19 pandemic.

Piedmont Lithium has established a strategic partnership with IronRidge Resources through definitive agreements. Piedmont will acquire a 9.47% equity stake in IRR and invest approximately $15 million. Additionally, it can earn a 50% interest in the Ewoyaa Project in Ghana by investing a total of $87 million over three to four years. The project forecasts average production of 295,000 t/y of spodumene concentrate, with a substantial after-tax net present value of $345 million and an internal rate of return of 125%.

Piedmont Lithium Inc. (Nasdaq: PLL) has secured approval from the Superior Court of Québec for its joint acquisition of North American Lithium (NAL) alongside Sayona Mining Limited. This acquisition will allow Sayona Québec to take ownership of all NAL shares and assets, free of encumbrances. NAL features a substantial lithium resource of 57.7 million tonnes and aims to leverage Québec's low-cost hydropower and infrastructure to enhance lithium hydroxide production. The partnership will synergize NAL’s operational restart with existing projects to serve the North American electric vehicle market.

Piedmont Lithium announced the appointment of Michael White as Executive Vice President and Chief Financial Officer. White, who has over 25 years of financial leadership experience, will manage the company's financial operations as it prepares to ramp up production of lithium hydroxide in North Carolina.

CEO Keith Phillips expressed enthusiasm for White's track record in finance strategy and M&A activities, highlighting the company's focus on becoming a key player in the U.S. electric vehicle supply chain.