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Piedmont Lithium Inc. - PLL STOCK NEWS

Welcome to our dedicated page for Piedmont Lithium news (Ticker: PLL), a resource for investors and traders seeking the latest updates and insights on Piedmont Lithium stock.

Piedmont Lithium Inc. (symbol: PLL) is a U.S.-based company dedicated to creating a multi-asset, integrated lithium business. The company focuses on supplying lithium hydroxide, an essential material for the electric vehicle (EV) and battery manufacturing supply chains, supporting the development of a clean energy economy in North America.

Piedmont Lithium operates several key projects, including Carolina Lithium in Gaston County, North Carolina. This ambitious project aims to be a fully integrated spodumene ore-to-lithium hydroxide facility. Additionally, the company is developing the Tennessee Lithium project, a proposed merchant lithium hydroxide manufacturing plant located in McMinn County, Tennessee. Both projects are central to Piedmont Lithium's strategy to enhance U.S. energy security and contribute to global lithium supply.

As a development-stage company, Piedmont Lithium is committed to advancing its portfolio of wholly-owned projects. Their efforts are rooted in the mission to support the burgeoning demand for lithium in EVs and energy storage, pivotal in the transition to renewable energy sources.

The company has recently made significant strides in its projects, securing vital partnerships and investments. These collaborations are designed to accelerate the growth and operational capabilities of Piedmont Lithium, aligning with the rising market demand for sustainable energy solutions.

Financially, Piedmont Lithium is strategically positioned to capitalize on the growing lithium market. Through prudent management and focused development, the company aims to achieve substantial growth and deliver value to its stakeholders.

News

Strategic Review Supports Continued Production Ramp-Up at North American Lithium

Rhea-AI Summary
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.
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Piedmont Lithium Appoints New Board Director

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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.
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Piedmont Lithium Reports Q4 & Full Year 2023 Results

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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.
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Piedmont Lithium Sells Sayona Mining Shares

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Piedmont Lithium announces the sale of its shares in Sayona Mining, generating approximately A$59.9 million or US$39.4 million. The sale price represents a premium to the 20-day volume weighted average price. The decision to divest aligns with Piedmont's commitment to maintaining a prudent balance sheet and minimizing shareholder dilution. The company remains focused on its joint venture with Sayona Quebec and the ramp-up of North American Lithium.
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Piedmont Lithium to Release Fourth-Quarter & Full-Year 2023 Results on February 22, 2024

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Piedmont Lithium (PLL) will release its Q4 and full-year 2023 earnings on February 22, 2024, crucial for the U.S. electric vehicle supply chain. The earnings call will discuss financial performance and future prospects.
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Piedmont Lithium Provides Corporate Update

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Piedmont Lithium, a leading global supplier of lithium resources, reported record quarterly production at North American Lithium in Q4'23. The company is making progress on the Ewoyaa Lithium Project in Ghana and expects to receive required permits and approvals later in 2024. Piedmont has also initiated a cost savings plan targeting $10 million in annual run rate savings and ended 2023 with $72 million in cash.
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Piedmont Lithium Sells Portion of Atlantic Shares to Assore

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Piedmont Lithium (PLL) has announced the sale of 24.3 million shares of Atlantic Lithium to Assore International Holdings for GBP0.25 per share, resulting in approximately US$7.8 million in proceeds. This represents a premium to the prevailing market price and will result in Assore owning approximately 28.4% of Atlantic. Piedmont will retain 32.7 million Atlantic shares, representing approximately 5.2% ownership in Atlantic. This sale has no impact on Piedmont's joint venture, earn-in, or offtake position with Atlantic or the Ewoyaa project. The company finished 2023 with approximately US$72 million in cash and US$47.4 million in marketable securities as of January 17, 2023.
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Piedmont Lithium Reports Third Quarter 2023 Results

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Piedmont Lithium reported inaugural revenue of $47.1 million and a gross profit of $23.8 million, with net income of $22.9 million and adjusted net income of $16.9 million. The company is on track to deliver full-year shipment guidance of approximately 56,500 dmt of lithium concentrate.
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High-grade North American Lithium Drill Results Show Potential for Mineral Resource Upgrade

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Piedmont Lithium announces initial 2023 drill campaign results from the North American Lithium project, identifying multiple high-grade lithium zones. The drill results show potential for further mineral resource conversion and mine life extension. NAL is already North America's largest operating lithium mine.
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Piedmont Lithium Updates Timing of Q3 Earnings Release

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Piedmont Lithium will release its Q3 2023 earnings on November 7th, 2023, at 7:00 AM Eastern Time. The earnings call will take place at 8:30 AM Eastern Time. The schedule was amended to better coincide with the timing of the earnings call and allow for dissemination of information outside of market trading periods. Access to the call is available via webcast or direct dial.
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FAQ

What is the current stock price of Piedmont Lithium (PLL)?

The current stock price of Piedmont Lithium (PLL) is $13.28 as of November 22, 2024.

What is the market cap of Piedmont Lithium (PLL)?

The market cap of Piedmont Lithium (PLL) is approximately 250.1M.

What does Piedmont Lithium Inc. do?

Piedmont Lithium Inc. focuses on creating a multi-asset, integrated lithium business, supplying lithium hydroxide for electric vehicle and battery manufacturing supply chains.

Where are Piedmont Lithium's main projects located?

Piedmont Lithium's main projects are located in Gaston County, North Carolina (Carolina Lithium) and McMinn County, Tennessee (Tennessee Lithium).

What is the Carolina Lithium project?

Carolina Lithium is a proposed fully integrated spodumene ore-to-lithium hydroxide project in Gaston County, North Carolina.

What is the Tennessee Lithium project?

The Tennessee Lithium project is a proposed merchant lithium hydroxide manufacturing plant in McMinn County, Tennessee.

How does Piedmont Lithium support the clean energy economy?

Piedmont Lithium supports the clean energy economy by providing essential lithium hydroxide for EVs and battery manufacturing, facilitating the transition to renewable energy.

What is the significance of lithium hydroxide?

Lithium hydroxide is critical for the production of batteries used in electric vehicles and energy storage systems, essential components of the clean energy landscape.

How is Piedmont Lithium positioned financially?

Piedmont Lithium is strategically positioned to capitalize on the growing lithium market through prudent management and development of its projects.

What recent achievements has Piedmont Lithium made?

Piedmont Lithium has secured vital partnerships and investments to accelerate its project development and enhance its operational capabilities.

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Piedmont Lithium Inc.

Nasdaq:PLL

PLL Rankings

#3689 Ranked by Market Cap
N/A Ranked by Dividends

PLL Stock Data

250.14M
17.90M
7.92%
41.06%
18.73%
Other Industrial Metals & Mining
Mining & Quarrying of Nonmetallic Minerals (no Fuels)
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United States of America
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