Piedmont Lithium Inc. - PLL STOCK NEWS

Piedmont Lithium has announced an upsized public offering of 1.75 million shares at $65.00 each, aiming to raise approximately $113.75 million. The offering, slated to close on March 24, 2022, includes an option for underwriters to purchase an additional 262,500 shares. The net proceeds will support operational restart in Quebec, exploration in Ghana, and development projects in the southeastern U.S., including the Carolina Lithium Project. J.P. Morgan and Evercore ISI are the joint book-runners for the offering.

Piedmont Lithium announced a public offering of 1.5 million shares of common stock to raise funds for various projects. The net proceeds will support the restart of operations at North American Lithium in Quebec, advance exploration in Ghana, and progress the Carolina Lithium Project. The offering could also finance other strategic initiatives. J.P. Morgan and Evercore ISI are leading the underwriters, with an option for an additional 225,000 shares. The offering is subject to market conditions and is registered with the Securities and Exchange Commission.

Piedmont Lithium Inc. has released an updated Corporate Overview Presentation addressing the lithium supply chain in North America. This presentation includes a Preliminary Economic Assessment for a second hydroxide plant and projections of production timelines for the company's North Carolina, Quebec, and Ghana operations. CEO Keith Phillips emphasized the potential for revenue generation from the North American Lithium restart and spodumene production at Ewoyaa by 2024. The company's expansion aims to meet the growing lithium demand for electric vehicles.

Piedmont Lithium reports a Preliminary Economic Assessment (PEA) for LHP-2, a proposed lithium hydroxide plant projected to produce 30,000 metric tons annually. The PEA estimates a 30-year operational life with capital costs of $572 million and an EBITDA of $346 million yearly. The internal rate of return is projected at 33%, with a net present value of approximately $2.25 billion. The company is positioned to secure spodumene concentrate from existing partnerships, ensuring material supply upon commencement. Final site selection and financing details remain pending.

Piedmont Lithium Inc. (NASDAQ: PLL) announced that its partner, Sayona Mining (ASX: SYA), has completed a Mineral Resource estimate update for its North American Lithium and Authier Projects in Quebec, totaling 119.1 million metric tonnes at 1.05% Li₂O. Piedmont holds a 25% interest in these projects and approximately 17% in Sayona Mining. The report indicates a doubling of mineral resources, positioning Sayona Quebec as Canada's largest spodumene resource. Piedmont aims to leverage this growth to become a leading lithium hydroxide producer in North America.

Piedmont Lithium Inc. (NASDAQ: PLL) announced the successful outcome of its annual shareholders meeting held virtually on February 3, 2022. A total of 8,520,938 votes were cast, representing 53.69% of common shares. Shareholders approved all resolutions, including the election of two directors, the appointment of Deloitte & Touche LLP as auditors, and stock options and restricted stock units to key executives. The newly elected directors will serve until the 2024 Annual Meeting. Details of voting results are available on the company’s website.

Piedmont Lithium announced advancements in growth initiatives for its lithium projects in North Carolina, Quebec, and Ghana. The company plans to double U.S. lithium hydroxide production to 60,000 tpy, split between the Carolina Lithium Project and a new plant. The Carolina Lithium Project is progressing towards a Final Investment Decision after a feasibility study revealed a net present value exceeding $2 billion. Additionally, strategic partnerships are set to enhance production capacity and support U.S. lithium self-sufficiency in the electric vehicle supply chain.

Piedmont Lithium Inc. (NASDAQ: PLL) has released an Economic Impact Study for its proposed Carolina Lithium Project in Gaston County, North Carolina. The study forecasts that the project will generate a direct output of approximately $6.4 million in 2023, increasing to $533.6 million by 2027. The total estimated output impact for 2023 is $8.1 million, rising to $687.8 million in 2027. This integrated facility will produce an estimated 30,000 tons of lithium hydroxide annually, enhancing the North American electric vehicle supply chain.

Piedmont Lithium announced the adjournment of its 2022 Annual Meeting of Stockholders, originally set for January 11, 2022, due to insufficient quorum, with only 46.18% of shares present. The meeting is rescheduled to February 3, 2022, at 2 p.m. ET in a virtual format to ensure safety amid COVID-19. Stockholders are encouraged to vote their shares prior to the meeting. The company is focused on being a premier lithium hydroxide producer in North America, supporting the EV supply chain and contributing to clean energy initiatives.