PLL - Piedmont Lithium

[houtman]

PLL announced an amended contract with Tesla last night.

Production this year.

Up 1.5% on NASDAQ, so expecting the same here.

 

[houtman]

PLL has an updated presentation on their website.

It lays out their plans and positioning in a clear manner.

Well worth a quick perusal if you are interested in lithium stocks.

PLL is my largest Li holding, their range of upstream and downstream projects and their geographical positioning is impressive.

The CEO, Keith Phillips, is a most impressive interviewee, well worth a search/watch if Li is your thing.

https://piedmontlithium.com/wp-content/uploads/Presentation-January-2023-Final.pdf

 

[Dona Ferentes]

Any more on this?

Shares in Atlantic Lithium fell 32.2 per cent on the London Stock Exchange overnight after it was embroiled in a short attack by US-based Blue Orca Research.

Blue Orca’s report targets dual Nasdaq and ASX-listed Piedmont Lithium and ASX-listed Atlantic Lithium.
Both companies put their shares into a trading halt this morning.

 

[galumay]

Unfortunately Australia has a long history of dodgy explorers, whats most disappointing is that there isn't better oversight by the ASX & ASIC so the Short sellers end up being the ones that expose them.

 

[houtman]

Any more on this?

Shares in Atlantic Lithium fell 32.2 per cent on the London Stock Exchange overnight after it was embroiled in a short attack by US-based Blue Orca Research.

Blue Orca’s report targets dual Nasdaq and ASX-listed Piedmont Lithium and ASX-listed Atlantic Lithium.
Both companies put their shares into a trading halt this morning.

Not ideal.

There are varying thoughts on the veracity of Orca’s reports, so open minded atm.

Both PLL and A11 in trading halts after A11 got trashed in London.

Ill be reading both responses carefully.

I had thought PLL trading was weird the last couple of days, should have had a closer look

 

[Dona Ferentes]

Blue Orca’s claims are that Ghana’s parliament may not approve Atlantic’s lithium mining licences because of corruption.

“In our opinion, evidence of Atlantic’s payments to the son of a high-level politician for mining licences is textbook evidence of corruption,” Blue Orca said.

“We are short Piedmont because without Atlantic’s Ghana supply, Piedmont and any promise of near-term revenue from its much-hyped Tennessee facility are dead on arrival."

 

[waterbottle]

Lol, why do companies insist on trying to mine in Africa? I don't think I've seen a lithium/rare earths explorer ever successfully commence operations there. There is usually some level of corruption - and rightly so, if I were governing a country sitting on a deposit that could change it for the better, I wouldn't allow some foreign investor to develop it.

This is just dead money IMO

 

[JohnDe]

Finally some good news -

PIEDMONT LITHIUM RECEIVES MINING PERMIT APPROVAL FOR CAROLINA LITHIUM

 

[Dona Ferentes]

production up, losses increase

https://www.mining.com/piedmont-lithium-shares-up-on-continued-record-production-at-nal/

 

[JohnDe]

PIEDMONT LITHIUM REPORTS Q3 2024 RESULTS
NAL Production & Safety Records; Strong Commercial Performance for Company

• NAL set new quarterly record for production (~52,100 dmt) and mill utilization (91%); lithium recovery steady (67%)
• Piedmont had record shipments of approximately 31,500 dmt of spodumene concentrate and recorded revenue of US$27.7 million in Q3’24
• Piedmont achieved industry-leading price realizations in Q3’24 in difficult market environment
• Piedmont continued to improve operating costs and reduce capital expenditures and investments in Q3’24
• Carolina Lithium positioned to benefit from the U.S. Department of the Treasury’s 45X final rule guidance
• Ewoyaa Lithium Project received Ghanaian Mine Operating Permit and EPA Permit
• Piedmont recorded US$64.4 million in cash and cash equivalents as of September 30, 2024
• Piedmont entered into a non-dilutive US$25 million working capital facility with a trading company partner

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

[Dona Ferentes]

Sayona Mining, capitalised at $391 million on the ASX, has agreed terms to merge with the $349 million Piedmont Lithium. The deal will create an $850 million lithium player and consolidate the ownership of the North American Lithium (NAL) project in Quebec.

Fund managers said the combined entity is seeking to raise about $150 million, with Resources Capital Funds understood to have taken up half of the deal. Canaccord Genuity advised both camps and is the sole lead manager on the accompanying raise.

Under the terms of the Transaction, existing holders of Piedmont Lithium shares of common stock will receive Sayona ADSs corresponding to 527 Sayona ordinary shares for each Piedmont share of common stock held and existing holders of Piedmont Lithium CHESS Depository Interests will receive 5.27 Sayona Mining Limited ASX listed ordinary shares (instead of an ADS) for each Piedmont Lithium CDI held. The Transaction will result in an approximate 50% / 50% equity holding of shareholders of Sayona and Piedmont in MergeCo (on a fully diluted basis), prior to the Conditional Placement.