Piedmont Lithium Inc - PLL STOCK NEWS

Piedmont Lithium (Nasdaq:PLL) reported progress on Atlantic Lithium's Ewoyaa project in Ghana, confirming high-grade mineralization from recent drilling. This is expected to enhance resource conversion and potentially extend the mine life. Piedmont is acquiring a 50% interest in Atlantic's spodumene projects and holds a 9.4% equity stake. A definitive feasibility study is anticipated in H1 2023, forecasting robust economics for the Ewoyaa project, which will be a key supplier for Piedmont's Tennessee Lithium project.

Piedmont Lithium has been awarded a $141.7 million grant from the U.S. Department of Energy to develop its Tennessee Lithium project. This funding aims to bolster domestic production of lithium hydroxide, critical for electric vehicle batteries, increasing output by 30,000 metric tons per year. The project, with a total cost of $600 million, is designed to begin construction in 2023 and commence production in 2025. Once operational, it expects to produce 60,000 tpy of lithium hydroxide, significantly contributing to the U.S. battery manufacturing sector.

Piedmont Lithium has initiated a prefeasibility study for lithium carbonate production at North American Lithium (NAL) in Quebec, a joint venture with Sayona Mining. The study aims to evaluate options for completing and restarting the lithium carbonate plant, which is partially built. Spodumene concentrate production at NAL is on track for H1 2023, with possible commercial shipments beginning in Q3 2023. This development could generate early revenue as the company collaborates with Sayona on the project.

Piedmont Lithium (NASDAQ: PLL) announced the completion of a prefeasibility study (PFS) for Atlantic Lithium's Ewoyaa Project in Ghana. The PFS targets production of approximately 255,000 tons per year of 6% lithium spodumene concentrate over a 12.5-year mine life, supported by ore reserves of 18.9 million tons at 1.24% Li2O. Estimated capital expenditures increased to US$125 million, while operating costs are expected to decrease. Piedmont has a 50% interest in the project and plans to import spodumene concentrate for its Tennessee Lithium project, aiming for first production in Q3 2024.

Piedmont Lithium (Nasdaq: PLL) has announced new senior leadership appointments to enhance its growth strategy for lithium hydroxide production. Nick Fouche, formerly with Rio Tinto, will serve as Senior Vice President of Capital Projects, while Erin Sanders, an award-winning communications strategist, joins as Vice President of Corporate Communications. President and CEO Keith Phillips emphasized that these hires will drive the execution of their spodumene resource development plans and elevate the company's brand perception among stakeholders.

Piedmont Lithium has announced plans for the 'Tennessee Lithium' project, set to become the largest lithium hydroxide plant in the U.S., located in Etowah, Tennessee. The project will have a production capacity of 30,000 metric tons per year, sourcing lithium concentrate from Piedmont’s international investments. The Definitive Feasibility Study is expected by the end of 2022, with first production targeted for 2025. This initiative aims to enhance the U.S. supply of lithium hydroxide, crucial for electric vehicle batteries, and is projected to create approximately 120 manufacturing jobs.

Pall Corporation has partnered with EverGrain to provide filtration solutions for a new large-scale plant-based protein facility in St. Louis, Missouri. This facility focuses on upcycling brewer's saved grains into high-quality protein ingredients using Pall's Membralox Microfiltration System. With global protein consumption expected to double by 2050, the facility aims to meet growing consumer demand for sustainable protein sources. EverGrain's innovative process transforms barley into nutritious plant-based ingredients previously used for animal feed.

Piedmont Lithium (Nasdaq:PLL) has been added to the U.S. Russell 2000® and Russell Microcap Indexes as part of the 2022 Russell indexes reconstitution. This inclusion is based on its membership in the Russell 3000® Index, which ranks the largest U.S. stocks by market capitalization. CEO Keith Phillips expressed optimism about the company being part of significant stock indices, enhancing its visibility among institutional investors. Approximately $12 trillion in assets are benchmarked against these indices, emphasizing their importance in the investment landscape.

Piedmont Lithium (Nasdaq: PLL) announced the restart of spodumene concentrate production at its North American Lithium project in Quebec, backed by an $80 million operational upgrade. The production is expected to begin in the first half of 2023. A significant offtake agreement will allow Piedmont to purchase up to 113,000 metric tons annually at a price between $500 and $900 per ton. The project is funded through contributions from both Piedmont and Sayona Mining, aiming to position the company as a key North American lithium producer.