Piedmont moves closer to becoming a US company

Apr 30, 2021

A Message from our CEO, Keith Phillips

This was an eventful quarter, as we positioned Piedmont to be the United States’ first greenfield lithium project in over 50 years. We announced a meaningful increase to our mineral resources, launched an integrated definitive feasibility study, and raised $122 million through a highly successful US equity placement. We made a strategic investment in Sayona Mining, establishing Piedmont as a multi-asset company with a footprint in the important lithium hub of Quebec, Canada, and we progressed the redomiciling of Piedmont to the United States, aligning the corporate entity with our US assets and management team. Most importantly, we enhanced our management team substantially with the addition of David Klanecky as Chief Operating Officer along with several other notable appointments. Piedmont is at the nexus two important megatrends – the electrification / decarbonization of the economy, and the regionalization of supply chains. We are advancing our business with the right assets, in the right location, with the right people, all at the right time. Thank you for your continued interest in, and support of, our rapidly growing organization as we work together to create power with tomorrow in mind.

Shareholders Vote in Support of US Incorporation

This week Piedmont Lithium moved one step closer to becoming a US incorporated company as shareholders voted overwhelmingly in favor of the re-domiciling proposal. There remain some steps in the legal process and review as this initiative moves through the Australian Courts for final approval. If the process remains on track it is expected that the redomiciling will go into effect on May 18. Trading on the Nasdaq as the primary trading platform would commence on the same day. For more details on the vote and the timeline please view the full press release, click here.

Quarterly Report Showcases Momentum and Opportunity Expansion

It was a busy and productive quarter for the company as we expanded our mineral resource by 40% to 39.2 million tons, and our leadership team with the addition of David Klanecky as EVP/COO. We also launched a Definitive Feasibility Study (“DFS”) for the Company’s integrated North Carolina lithium hydroxide operations, incorporating our mine and concentrate operations that will produce spodumene concentrate and our proposed lithium hydroxide chemical plant. With a focus on sustainability and reducing our carbon footprint, the DFS incorporates Metso Outotec’s innovative alkaline pressure leach technology, which omits the acid roasting step of conventional spodumene conversion, and is expected to reduce air emissions from the chemical operations, compared with our prior studies. The DFS will also evaluate enhancements to our Carolina operations including installation of solar generating capacity, in-pit crushing systems, and elimination of haul trucks from our operations plan, all of which are expected to improve both carbon emissions and project economics.

For more details on the quarter please view the full report, click here.

Thank you for you continued interest in Piedmont Lithium.

For further information, contact:

Keith D. Phillips | President & CEO
T: +1 973 809 0505
E: [email protected]

Brian Risinger
VP – Investor Relations and Corporate Communications
T: +1 704 910 9688
E: [email protected]

https://www.piedmontlithium.com/