Current drill program expanded by 25,000 meters with three new drill rigs added for a total of five rigs.
Drilling to expand Mineral Resources is proceeding positively and resource updates are expected in Q1 2021.
Infill drilling will target upgrading the Company's Mineral Resources on the Core property from Inferred to Indicated classification in advance of a Definitive Feasibility Study.
Signed agreement with Tesla, Inc. (”Tesla") for the supply of spodumene concentrate from Piedmont’s North Carolina deposit to Tesla for an initial five-year term on a fixed-price binding purchase commitment from the delivery of first product;
Completed a bench-scale lithium hydroxide testwork program which demonstrated conversion of Piedmont ore to battery-quality lithium hydroxide. Lithium hydroxide was produced from spodumene concentrate produced from core samples taken from Piedmont's North Carolina deposit. Quality results compare favorably with current market specifications for battery quality lithium hydroxide;
Resumed drilling at Piedmont’s properties located within the world-class Carolina Tin-Spodumene Belt (”TSB") in North Carolina. The drill program will consist of approximately 5,600 meters with a primary objective to drill Exploration Target areas on the Core and Central properties, as well as previously untested occurrences of spodumene bearing pegmatite on regional properties;
Appointed Mr. Austin Devaney as Vice President - Sales & Marketing. Mr. Devaney spent most of the past decade in senior marketing roles with Albemarle Corporation, most recently as Vice President, Strategic Marketing and Customer Excellence; and
Completed a US. public offering of 2,300,000 of Piedmont’s American Depositary Shares (”ADSs"), with each ADS representing 100 of its ordinary shares, which includes the full exercise of the underwriters’ option, at an issue price of US$25.00 per ADS, to raise aggregate gross proceeds of US$57.5 million (A$81.2 million).
Piedmont enters into binding sales agreement to supply spodumene concentrate to Tesla; Five-year fixed-price binding agreement with optional five-year extension; Agreement confirms the strategic nature of Piedmont’s unique American spodumene deposit; Discussions are ongoing with respect to other lithium and by-product sales arrangements.
Drilling has commenced testing new target areas on the Company’s Core and Central properties. Drilling will also test previously identified regional drill targets in the prolific Tin—Spodumene Belt. Piedmont is focused on increasing its Mineral Resources and potential increased production of American sourced lithium
Piedmont Lithium Limited (”Piedmont" or ”Company") is pleased to announce that it has completed its previously announced placement of 120,000,000 fully paid ordinary shares to non-U.S. institutional and sophisticated shareholders to raise gross proceeds of A$10.8 million (”Private Placement"), following shareholder approval received at a general meeting held on July 31, 2020.
Piedmont Lithium Limited is pleased to announce that it has completed its previously announced placement of 120,000,000 fully paid ordinary shares to non-U.S. institutional and sophisticated shareholders to raise gross proceeds of A$10.8 million, following shareholder approval received at a general meeting held on July 31, 2020.
Completed a pre—feasibility study ("PFS") for Piedmont’s proposed lithium hydroxide chemical plant in Kings Mountain, North Carolina, USA. The PFS highlighted a business model where a Piedmont built and owned Chemical Plant would convert spodumene concentrate purchased on the global market to battery-grade lithium hydroxide. Completed an updated scoping study for Piedmont's integrated mine-to-hydroxide project. The mine-to-hydroxide project comprises a mine and concentrator producing spodumene concentrate which will be transported to Piedmont’s Chemical Plant and converted into battery-grade lithium hydroxide. The updated scoping study includes the results of the new Chemical Plant PFS. Completed additional metallurgical testwork to produce 120 kilograms of spodumene concentrate from core samples collected from the Piedmont Lithium Project. Concentrate qualities and recoveries were consistent with earlier testwork programs. Completed a bench-scale lithium hydroxide testwork program at SGS Canada, Inc. in Lakefield, Ontario which demonstrated conversion of Piedmont ore to battery-quality lithium hydroxide. Entered into a memorandum of understanding ("MOU") with Primero Group for the delivery of Piedmont’s planned spodumene concentrator on an engineer, procure, and construct ("EPC") basis, with Primero to contract operate the spodumene concentrator for a period of up to six years following construction. Concluded a definitive and exclusive marketing agreement for byproduct quartz, feldspar, and mica with Ion Carbon, a division of AMCI. The Company continues to advance offtake discussions for byproducts with quartz offtake discussions the most advanced. Appointed Mr. Austin Devaney as Vice President - Sales and Marketing. Mr. Devaney spent most of the past decade in senior marketing roles with Albemarle Corporation, most recently as Vice President, Strategic Marketing and Customer Excellence. Completed a U.S. public offering of 2,065,000 of its American Depositary Shares ("ADSs"), each representing 100 of its ordinary shares, including the exercise of the underwriters' over-allotment option, at an issue price of US$6.30 per ADS, to raise gross proceeds of US$13.0 million (~A$18.6 million). Piedmont has also received commitments from existing non-U.S. institutional and sophisticated shareholders and directors for 120,000,000 of its fully paid ordinary shares, at an issue price of A$0.09 per share (which equates to the same issue price of the Public Offering), to raise gross proceeds of A$10.8 million. Completion of the Private Placement is subject to shareholder approval.
Bench-scale lithium hydroxide testwork has been successfully completed at SGS Canada. Testwork results compare favorably with current battery quality market specifications.