Piedmont Lithium, Inc. is a development stage company. The Company is engaged in building a multi-asset, integrated lithium business which provides lithium hydroxide, a critical material, to the electric vehicle and battery manufacturing supply chains in the United States to support the creation of a clean energy economy in North America. The Company develops battery-grade lithium hydroxide and other chemicals essential to the electric vehicle and battery storage markets in the United States. Its projects are located in Canada, Ghana, and the southeastern United States. Its key projects include Quebec Projects, Ghana Project, U.S.-Based Lithium Hydroxide Plant (LHP-2) and Carolina Lithium Project. Its Quebec Projects include North American Lithium, the Authier Project and the Tansim Project. Its wholly owned, Carolina Lithium Project is located on the Carolina Tin-Spodumene Belt in North Carolina.
popped 14% today. could this be why? Piedmont Lithium Expands Board of Directors 6:50 am ET January 4, 2023 (BusinessWire) Print Piedmont Lithium ("Piedmont" or "the Company") (NasdaqLL; ASXLL), a leading global developer of lithium resources critical to the U.S. electric vehicle ("EV") supply chain, today announced that the Company's Board of Directors ("Board") has voted to increase the size of the Board from five to seven directors, adding two new directors, effective January 3, 2023. Christina Alvord and Michael Bless have been appointed to these positions, providing additional executive, operational, and strategic guidance to the Company as it advances in its mission to supply the U.S. with lithium hydroxide from a global portfolio of projects. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230104005143/en/
in response to post #2, here is the reason for the pop. ---- Piedmont Lithium Charges Higher Following Tesla Deal: What's Happening And What's Next? 3:00 pm ET January 4, 2023 (Benzinga) Print Piedmont Lithium, Inc (NASDAQ: PLL) was surging almost 15% at one point on Wednesday. The spike higher came as a delayed reaction to the mining company’s Tuesday announcement that it had amended a supply agreement with Tesla, Inc (NASDAQ: TSLA), where Piedmont will supply the EV-giant with about 125,000 metric tons of spodumene concentrate (SC6) between the second half of 2023 and 2025. In the original agreement, signed on Sept. 28, 2020, Piedmont was to begin supplying Tesla with SC6 starting between July 2022 and July 2023, which didn’t come to fruition. Check This Out: Here's how much Tesla short sellers earned last year The partnership will provide Tesla with a reliable source of lithum hydroxide, with is an essential component of the batteries used in the company’s electric vehicles. Prior to Piedmont’s original announcement, the stock was trading under the $11 mark, but on Sept. 28, 2020, Piedmont surged almost 400% to reach a high of $54.50. After a period of downward consolidation, Piedmont entered an uptrend, which eventually brought the stock to an all-time high of $88.97 on March 18, 2021. Since reaching the all-time high, Piedmont has experienced many months of high volatility, whipsawing between about $32 and $80, with strong support at the $40 mark.
