Presentation includes recent Preliminary Economic Assessment of
potential second hydroxide plant and projected production timelines
for projects in Quebec and Ghana
Piedmont Lithium Inc., (“Piedmont” or the “Company”) (NASDAQ:
PLL; ASX: PLL), a leading developer of lithium hydroxide production
to enable the North American electric vehicle supply chain, today
released a new Corporate Overview Presentation. The updated
overview includes recent information addressing overall market
conditions, lithium supply and demand projections from industry
analysts, and pricing trends. The presentation also provides a
detailed overview and update on Piedmont’s multiple resources in
North Carolina, Quebec, and Ghana. In addition, information from
the recently released Preliminary Economic Assessment (PEA) of a
second lithium hydroxide plant has now also been included, as well
as estimated production timelines related to a restart of the North
American Lithium asset in Quebec, and spodumene concentrate
production from the Ewoyaa project with Atlantic Lithium in
Ghana.
“While there remains a focus on our proposed flagship Carolina
Lithium Project in Gaston County, N.C., we’ve been expanding our
portfolio of mineral resources, production capacity, and upside
financial exposure through assets and strategic investments in
Quebec and Ghana,” commented Piedmont Lithium President and CEO,
Keith Phillips. “The planned 2023 restart of North American Lithium
in conjunction with our partner, Sayona Mining, and the potential
for spodumene production at Ewoyaa in partnership with Atlantic
Lithium as early as 2024, creates an attractive timeline for
potential revenue generation that could precede output at our
proposed Carolina Lithium project. The steady drumbeat of expansion
announcements from OEM’s and battery makers alike, continues to
drive the need for additional lithium hydroxide supply to support
the U.S. market. We see expanding our access to resources, plus
looking at additional hydroxide production capacity through a
second potential plant, as a way of delivering security of supply
to potential customers and returning value to shareholders in the
process,” added Phillips.
The updated presentation for March can be found under the
Investor section of the Piedmont Lithium website at:
https://piedmontlithium.com/investors/presentations/
About Piedmont Lithium
Piedmont Lithium is developing a world-class, multi-asset,
integrated lithium business focused on enabling the transition to a
net zero world and the creation of a clean energy economy in North
America. The centerpiece of our operations, located in the renowned
Carolina Tin Spodumene Belt of North Carolina, when combined with
equally strategic and in demand mineral resources, and production
assets in Quebec, and Ghana, positions us to be one of the largest,
lowest cost, most sustainable producers of battery-grade lithium
hydroxide in the world. We will also be strategically located to
best serve the fast-growing North American electric vehicle supply
chain. The unique geology, geography and proximity of our
resources, production operations and customer base, will allow us
to deliver valuable continuity of supply of a high-quality,
sustainably produced lithium hydroxide from spodumene concentrate,
preferred by most EV manufacturers. Our planned diversified
operations should enable us to play a pivotal role in supporting
America’s move toward decarbonization and the electrification of
transportation and energy storage. As a member of organizations
like the International Responsible Mining Association, and the Zero
Emissions Transportation Association, we are committed to
protecting and preserving our planet for future generations, and to
making economic and social contributions to the communities we
serve. For more information, www.piedmontlithium.com.
Forward Looking Statements
This announcement includes forward-looking statements within the
meaning of applicable securities laws, including statements about
LHP-2, the potential selection of a site for such plant, timing and
expectations around any development and production of the plant and
estimates and assumptions around permitting, revenues and costs of
the plant. These forward-looking statements are based on Piedmont’s
expectations and beliefs concerning future events. Such
forward-looking statements concern Piedmont’s anticipated results
and progress of its operations in future periods, planned
exploration and, if warranted, development of its properties and
plans related to its business and other matters that may occur in
the future. These statements relate to analyses and other
information that are based on forecasts of future results,
estimates of amounts not yet determinable and assumptions of
management. All statements contained herein that are not clearly
historical in nature are forward-looking, and the words
“anticipate,” “believe,” “expect,” “estimate,” “may,” “might,”
“will,” “could,” “can,” “shall,” “should,” “would,” “leading,”
“objective,” “intend,” “contemplate,” “design,” “predict,”
“potential,” “plan,” “target” and similar expressions are generally
intended to identify forward-looking statements.
Forward-looking statements are subject to a variety of known and
unknown risks, uncertainties and other factors which could cause
actual events or results to differ from those expressed or implied
by the forward-looking statements. Such factors include, among
others, risks related to:
- the risk that anticipated plans, development, production,
revenues or costs are not attained;
- Piedmont’s operations being further disrupted and Piedmont’s
financial results being adversely affected by public health
threats, including the novel coronavirus pandemic;
- Piedmont’s limited operating history in the lithium
industry;
- Piedmont’s status as a development stage company, including
Piedmont’s ability to identify lithium mineralization and achieve
commercial lithium mining;
- mining, exploration and mine construction, if warranted, on
Piedmont’s properties, including timing and uncertainties related
to acquiring and maintaining mining, exploration, environmental and
other licenses, permits, access rights or approvals in Gaston
County, North Carolina, the Province of Quebec, Canada and Cape
Coast, Ghana as well as properties that Piedmont may acquire or
obtain an equity interest in the future;
- completing required permitting activities required to commence
processing operations for the LHP-2 Project;
- Piedmont’s ability to achieve and maintain profitability and to
develop positive cash flows from Piedmont’s processing
activities;
- Piedmont’s estimates of mineral reserves and resources and
whether mineral resources will ever be developed into mineral
reserves;
- investment risk and operational costs associated with
Piedmont’s exploration activities;
- Piedmont’s ability to develop and achieve production on
Piedmont’s properties;
- Piedmont’s ability to enter into and deliver products under
supply agreements;
- the pace of adoption and cost of developing electric
transportation and storage technologies dependent upon lithium
batteries;
- Piedmont’s ability to access capital and the financial
markets;
- recruiting, training and developing employees;
- possible defects in title of Piedmont’s properties;
- compliance with government regulations;
- environmental liabilities and reclamation costs;
- estimates of and volatility in lithium prices or demand for
lithium;
- Piedmont’s common stock price and trading volume
volatility;
- the development of an active trading market for Piedmont’s
common stock;
- Piedmont’s failure to successfully execute our growth strategy,
including any delays in Piedmont’s planned future growth; and
- other factors set forth in Piedmont’s most recent Annual Report
on Form 10-K and subsequent reports, as filed with the U.S.
Securities and Exchange Commission.
All forward-looking statements reflect Piedmont’s beliefs and
assumptions based on information available at the time the
assumption was made. These forward-looking statements are not based
on historical facts but rather on management’s expectations
regarding future activities, results of operations, performance,
future capital and other expenditures, including the amount, nature
and sources of funding thereof, competitive advantages, business
prospects and opportunities. By its nature, forward-looking
information involves numerous assumptions, inherent risks and
uncertainties, both general and specific, known and unknown, that
contribute to the possibility that the predictions, forecasts,
projections or other forward-looking statements will not occur.
Although Piedmont have attempted to identify important factors that
could cause actual results to differ materially from those
described in forward-looking statements, there may be other factors
that cause results not to be as anticipated, estimated or intended.
Should one or more of these risks or uncertainties materialize, or
should underlying assumptions prove incorrect, actual results may
vary materially from those anticipated, believed, estimated, or
expected. Piedmont cautions readers not to place undue reliance on
any such forward-looking statements, which speak only as of the
date made. Except as otherwise required by the securities laws of
the United States, Piedmont disclaims any obligation to
subsequently revise any forward-looking statements to reflect
events or circumstances after the date of such statements or to
reflect the occurrence of anticipated or unanticipated events.
Piedmont qualifies all the forward-looking statements contained in
this release by the foregoing cautionary statements.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220315005392/en/
Keith Phillips President & CEO T: +1 973 809 0505 E:
kphillips@piedmontlithium.com
Brian Risinger VP – Investor Relations and Corporate
Communications T: +1 704 910 9688 E:
brisinger@piedmontlithium.com
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