Month: August 2023

Belmont, North Carolina, August 31, 2023 – Piedmont Lithium Inc. (“Piedmont” or the “Company”) (Nasdaq: PLL; ASX: PLL), a leading global producer of lithium resources critical to the U.S. electric vehicle supply chain, today announced executive and senior leadership participation in the following industry conferences this fall:

• Jefferies 2023 Industrials Conference – New York City, New York, September 7
• DA Davidson 22^nd Annual Diversified Industrials & Services Conference – Nashville, Tennessee, September 21-22
• Citi Global Resources Conference – virtual, October 10-11
• ThinkEquity Conference – New York City, New York, October 19
• National Safety Council Safety Congress & Expo – New Orleans, Louisiana, October 23
• Benchmark Week 2023 – Los Angeles, California, November 14-16
• Goldman Sachs Conference – New York City, New York, November 15-16
• Swiss Mining Institute Conference – Zurich, Switzerland, November 29-30
• Deutsche Bank 8th Annual Lithium and Battery Supply Chain Conference – virtual, December 6

“As we plan for our inaugural shipment of lithium concentrate from our North American Lithium offtake, we are pleased to share our progress across our entire portfolio of projects with the industry and investors,” said Keith Phillips, Piedmont President and Chief Executive Officer. “Our cash position is strong as production continues to ramp up in Quebec for additional 2023 shipments and we prepare to support further development of our lithium projects in Ghana, Tennessee, and North Carolina.”

About Piedmont Lithium

Piedmont Lithium Inc. (Nasdaq: PLL; ASX: PLL) 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. Our goal is to become one of the largest lithium hydroxide producers in North America by processing spodumene concentrate produced from assets where we hold an economic interest. Our projects include our Carolina Lithium and Tennessee Lithium projects in the United States and partnerships in Quebec with Sayona Mining (ASX: SYA) and in Ghana with Atlantic Lithium (AIM: ALL; ASX: A11). These geographically diversified operations will enable us to play a pivotal role in supporting America’s move toward energy independence and the electrification of transportation and energy storage. For more information, follow us on Twitter @PiedmontLithium and visit www.piedmontlithium.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of or as described in securities legislation in the United States and Australia, including statements regarding exploration, development construction and production activities of Sayona Mining, Atlantic Lithium and Piedmont; current plans for Piedmont’s mineral and chemical processing projects; Piedmont’s potential acquisition of an ownership interest in Ewoyaa; and strategy. Such forward-looking statements involve substantial and known and unknown risks, uncertainties, and other risk factors, many of which are beyond our control, and which may cause actual timing of events, results, performance or achievements and other factors to be materially different from the future timing of events, results, performance, or achievements expressed or implied by the forward-looking statements. Such risk factors include, among others: (i) that Piedmont, Sayona Mining or Atlantic Lithium may be unable to commercially extract mineral deposits, (ii) that Piedmont’s, Sayona Mining’s or Atlantic Lithium’s properties may not contain expected reserves, (iii) risks and hazards inherent in the mining business (including risks inherent in exploring, developing, constructing and operating mining projects, environmental hazards, industrial accidents, weather or geologically related conditions), (iv) uncertainty about Piedmont’s ability to obtain required capital to execute its business plan, (v) Piedmont’s ability to hire and retain required personnel, (vi) changes in the market prices of lithium and lithium products, (vii) changes in technology or the development of substitute products, (viii) the uncertainties inherent in exploratory, developmental and production activities, including risks relating to permitting, zoning and regulatory delays related to our projects as well as the projects of our partners in Quebec and Ghana, (ix) uncertainties inherent in the estimation of lithium resources, (x) risks related to competition, (xi) risks related to the information, data and projections related to Sayona Mining or Atlantic Lithium, (xii) occurrences and outcomes of claims, litigation and regulatory actions, investigations and proceedings, (xiii) risks regarding our ability to achieve profitability, enter into and deliver product under supply agreements on favorable terms, our ability to obtain sufficient financing to develop and construct our projects, our ability to comply with governmental regulations and our ability to obtain necessary permits, and (xiv) other uncertainties and risk factors set out in filings made from time to time with the U.S. Securities and Exchange Commission (“SEC”) and the Australian Securities Exchange, including Piedmont’s most recent filings with the SEC. The forward-looking statements, projections and estimates are given only as of the date of this press release and actual events, results, performance and achievements could vary significantly from the forward-looking statements, projections and estimates presented in this press release. Readers are cautioned not to put undue reliance on forward-looking statements. Piedmont disclaims any intent or obligation to update publicly such forward-looking statements, projections, and estimates, whether as a result of new information, future events or otherwise. Additionally, Piedmont, except as required by applicable law, undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of Piedmont, its financial or operating results or its securities.

• Partial prepayment of $31.6 million for September shipment of 15,000 dry metric tons of lithium concentrate
• NAL ramp up progressing well and meeting Piedmont’s production expectations for 2023
• Piedmont’s 2023 shipments under NAL offtake expected to total 56,500 dry metric tons

BELMONT, North Carolina, August 29, 2023 – Piedmont Lithium (“Piedmont” or the “Company”) (Nasdaq: PLL; ASX: PLL), a leading global supplier of lithium resources critical to the U.S. electric vehicle supply chain, today announced receipt of a $31.6 million partial prepayment for the sale of 15,000 dry metric tons (“dmt”) of 5.4% Li₂O lithium concentrate on an FOB vessel basis (Incoterms 2020) to a major international trading company (“Buyer”). Vessel loading is scheduled for mid-September. The prepayment increased Piedmont’s cash position to approximately $100 million, reinforcing Piedmont’s strong balance sheet.

North American Lithium (“NAL”) commenced commercial production in March 2023 and delivered its first joint venture shipment of 20,500 dmt to a third-party in early August. Production ramp up continues to progress well, and Piedmont expects to receive, at a minimum, its full 2023 offtake allocation of 56,500 dmt of lithium concentrate (“PLL Shipments”), with the balance to be sold by the joint venture (“JV Shipments”).

“This is a significant day for Piedmont Lithium as we announce the first shipment of lithium concentrate under our offtake agreement with NAL and the receipt of a prepayment, which significantly increases our cash position,” said Keith Phillips, President and CEO of Piedmont. “We look forward to the additional Piedmont Shipments and JV Shipments planned for 2023, and we expect sales from Piedmont Shipments to help fund our strategic initiatives while reducing our need to raise equity in the market.

“Additionally, we acknowledge the board level changes of our partner, Sayona Mining. We would like to thank Brett Lynch for his vision, which enabled Piedmont and Sayona Mining to successfully acquire and restart the NAL operations, and we look forward to continued success as we welcome James Brown as the interim CEO of Sayona Mining.”

About Piedmont Lithium

Piedmont Lithium Inc. (Nasdaq: PLL; ASX: PLL) 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. Our goal is to become one of the largest lithium hydroxide producers in North America by processing spodumene concentrate produced from assets where we hold an economic interest. Our projects include our Carolina Lithium and Tennessee Lithium projects in the United States and partnerships in Quebec with Sayona Mining (ASX: SYA) and in Ghana with Atlantic Lithium (AIM: ALL; ASX: A11). These geographically diversified operations will enable us to play a pivotal role in supporting America’s move toward energy independence and the electrification of transportation and energy storage. For more information, follow us on Twitter @PiedmontLithium and visit www.piedmontlithium.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of or as described in securities legislation in the United States and Australia, including statements regarding exploration, development construction and production activities of Sayona Mining, Atlantic Lithium and Piedmont; current plans for Piedmont’s mineral and chemical processing projects; Piedmont’s potential acquisition of an ownership interest in Ewoyaa; and strategy. Such forward-looking statements involve substantial and known and unknown risks, uncertainties, and other risk factors, many of which are beyond our control, and which may cause actual timing of events, results, performance or achievements and other factors to be materially different from the future timing of events, results, performance, or achievements expressed or implied by the forward-looking statements. Such risk factors include, among others: (i) that Piedmont, Sayona Mining or Atlantic Lithium may be unable to commercially extract mineral deposits, (ii) that Piedmont’s, Sayona Mining’s or Atlantic Lithium’s properties may not contain expected reserves, (iii) risks and hazards inherent in the mining business (including risks inherent in exploring, developing, constructing and operating mining projects, environmental hazards, industrial accidents, weather or geologically related conditions), (iv) uncertainty about Piedmont’s ability to obtain required capital to execute its business plan, (v) Piedmont’s ability to hire and retain required personnel, (vi) changes in the market prices of lithium and lithium products, (vii) changes in technology or the development of substitute products, (viii) the uncertainties inherent in exploratory, developmental and production activities, including risks relating to permitting, zoning and regulatory delays related to our projects as well as the projects of our partners in Quebec and Ghana, (ix) uncertainties inherent in the estimation of lithium resources, (x) risks related to competition, (xi) risks related to the information, data and projections related to Sayona Mining or Atlantic Lithium, (xii) occurrences and outcomes of claims, litigation and regulatory actions, investigations and proceedings, (xiii) risks regarding our ability to achieve profitability, enter into and deliver product under supply agreements on favorable terms, our ability to obtain sufficient financing to develop and construct our projects, our ability to comply with governmental regulations and our ability to obtain necessary permits, and (xiv) other uncertainties and risk factors set out in filings made from time to time with the U.S. Securities and Exchange Commission (“SEC”) and the Australian Securities Exchange, including Piedmont’s most recent filings with the SEC. The forward-looking statements, projections and estimates are given only as of the date of this press release and actual events, results, performance and achievements could vary significantly from the forward-looking statements, projections and estimates presented in this press release. Readers are cautioned not to put undue reliance on forward-looking statements. Piedmont disclaims any intent or obligation to update publicly such forward-looking statements, projections, and estimates, whether as a result of new information, future events or otherwise. Additionally, Piedmont, except as required by applicable law, undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of Piedmont, its financial or operating results or its securities.

Company exercises option to acquire 22.5% stake in Atlantic Lithium’s flagship project

• Piedmont making staged investments to earn 50% of Atlantic Lithium’s Ghanaian portfolio
• Support for Ewoyaa Lithium Project reflects Piedmont’s confidence in development of Ghana assets
• Ewoyaa development furthers Piedmont’s strategy to secure feedstock for planned Tennessee conversion plant

BELMONT, North Carolina, August 17, 2023 – Piedmont Lithium (“Piedmont” or the “Company”) (Nasdaq: PLL; ASX: PLL), a leading global producer of lithium resources critical to the U.S. electric vehicle supply chain, today announced the Company will increase its stake in Atlantic Lithium Limited’s (“Atlantic Lithium”) (AIM: ALL, ASX: A11) Ewoyaa Lithium Project (“Ewoyaa” or the “Project”) as part of a staged investment agreement to earn a 50% equity interest in Atlantic Lithium’s Ghanaian lithium portfolio.

Under the terms of the project agreement with Atlantic Lithium, Piedmont has exercised its option to acquire a 22.5% interest in Ewoyaa, having funded the completion of the Project’s definitive feasibility study (“DFS”). Piedmont also plans to provide a further $70 million toward Ewoyaa development capital to acquire an additional 27.5% interest in the Project. Piedmont expects to share the remaining Project capital costs equally with Atlantic Lithium for a total Piedmont commitment of approximately $128 million toward the total estimated $185 million Project capital costs.

The Company’s additional funding remains subject to the receipt of final government and regulatory approvals for the Project. Piedmont expects to be able to fund its contributions toward Project development through proceeds from the sale of lithium concentrate from its offtake agreement with North American Lithium.

The Company is entitled to purchase 50% of lithium concentrate production at Ewoyaa on a market-based pricing mechanism for the life of the mine. This offtake is being planned as feedstock for the Company’s proposed, 30,000-metric-ton-per-year lithium hydroxide conversion facility in Tennessee.

Piedmont President and CEO Keith Phillips said the funding to support Ewoyaa furthers the Company’s strategy to supply crucial lithium resources to U.S. electric vehicle and battery manufacturers. “We are pleased to help advance the progression of Ewoyaa as a key part of Piedmont Lithium’s global portfolio and the expected feedstock for our planned lithium hydroxide conversion facility in Tennessee,” said Phillips. “Our partners at Atlantic Lithium have made tremendous progress with positive Project economics recently published in a definitive feasibility study and minerals lease discussions that are progressing with Ghana’s Minerals Commission. We look forward to continuing our work with Atlantic Lithium to support the Project toward first production, currently targeted for 2025.”

About Piedmont Lithium

Piedmont Lithium (Nasdaq: PLL; ASX: PLL) 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. Our goal is to become one of the largest lithium hydroxide producers in North America by processing spodumene concentrate produced from assets where we hold an economic interest. Our projects include our Carolina Lithium and Tennessee Lithium projects in the United States and partnerships in Quebec with Sayona Mining (ASX: SYA) and in Ghana with Atlantic Lithium (AIM: ALL; ASX: A11). These geographically diversified operations will enable us to play a pivotal role in supporting America’s move toward energy independence and the electrification of transportation and energy storage. For more information, follow us on Twitter @PiedmontLithium and visit www.piedmontlithium.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of or as described in securities legislation in the United States and Australia, including statements regarding exploration, development construction and production activities of Sayona Mining, Atlantic Lithium and Piedmont; current plans for Piedmont’s mineral and chemical processing projects; Piedmont’s potential acquisition of an ownership interest in Ewoyaa; and strategy. Such forward-looking statements involve substantial and known and unknown risks, uncertainties, and other risk factors, many of which are beyond our control, and which may cause actual timing of events, results, performance or achievements and other factors to be materially different from the future timing of events, results, performance, or achievements expressed or implied by the forward-looking statements. Such risk factors include, among others: (i) that Piedmont, Sayona Mining or Atlantic Lithium may be unable to commercially extract mineral deposits, (ii) that Piedmont’s, Sayona Mining’s or Atlantic Lithium’s properties may not contain expected reserves, (iii) risks and hazards inherent in the mining business (including risks inherent in exploring, developing, constructing and operating mining projects, environmental hazards, industrial accidents, weather or geologically related conditions), (iv) uncertainty about Piedmont’s ability to obtain required capital to execute its business plan, (v) Piedmont’s ability to hire and retain required personnel, (vi) changes in the market prices of lithium and lithium products, (vii) changes in technology or the development of substitute products, (viii) the uncertainties inherent in exploratory, developmental and production activities, including risks relating to permitting, zoning and regulatory delays related to our projects as well as the projects of our partners in Quebec and Ghana, (ix) uncertainties inherent in the estimation of lithium resources, (x) risks related to competition, (xi) risks related to the information, data and projections related to Sayona Mining or Atlantic Lithium, (xii) occurrences and outcomes of claims, litigation and regulatory actions, investigations and proceedings, (xiii) risks regarding our ability to achieve profitability, enter into and deliver product under supply agreements on favorable terms, our ability to obtain sufficient financing to develop and construct our projects, our ability to comply with governmental regulations and our ability to obtain necessary permits, and (xiv) other uncertainties and risk factors set out in filings made from time to time with the U.S. Securities and Exchange Commission (“SEC”) and the Australian Securities Exchange, including Piedmont’s most recent filings with the SEC. The forward-looking statements, projections and estimates are given only as of the date of this press release and actual events, results, performance and achievements could vary significantly from the forward-looking statements, projections and estimates presented in this press release. Readers are cautioned not to put undue reliance on forward-looking statements. Piedmont disclaims any intent or obligation to update publicly such forward-looking statements, projections, and estimates, whether as a result of new information, future events or otherwise. Additionally, Piedmont, except as required by applicable law, undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of Piedmont, its financial or operating results or its securities.

Q3 customer deliveries to generate 2023 revenue and cash flow for Piedmont Lithium

• Inaugural shipment of 20,500 metric tons of spodumene concentrate by North American Lithium departed the Port of Quebec City on August 1, 2023
• Piedmont expects to ship approximately 56,500 metric tons in H2 2023 under its joint venture offtake agreement, including the first tons under the long-term supply agreement with LG Chem

BELMONT, North Carolina, August 2, 2023 – Piedmont Lithium (“Piedmont” or the “Company,”) (Nasdaq: PLL; ASX: PLL), announced today the first commercial shipment of spodumene concentrate (“SC”) produced by North American Lithium (“NAL”), which is wholly owned by Sayona Quebec, a joint venture (the “JV”) between Piedmont (25%) and Sayona Mining (ASX: SYA) (75%). NAL made the initial 20,500 metric ton shipment of spodumene concentrate via a trading company to international parties.

Piedmont owns a 12% equity interest in Sayona Mining and holds an offtake agreement (the “Offtake Agreement”) with the JV to purchase the greater of 113,000 metric tons per year or 50% of SC production at a ceiling price of $900 per metric ton (SC-6.0%) on a life-of-mine basis. As 2023 is the start-up year for NAL, the parties have agreed that Piedmont’s allocation this year will be the greater of 56,500 metric tons or 50% of 2023 SC production. Sales by the JV to its customers are expected to support JV operating expenses, while sales under the Piedmont Offtake Agreement are planned to fund the Company’s broader strategic initiatives, including development of our projects in Tennessee, Ghana, and North Carolina.

Following this initial JV shipment, the parties have agreed that the next two shipments will be to Piedmont customers via the Offtake Agreement. Piedmont expects to deliver 15,000 metric tons to a major international trading company in August 2023; these tons are already produced and stocked at the port. A further 15,000 metric tons are planned for shipment in September-October to LG Chem as the initial component of the four-year, 200,000-metric-ton agreement announced in February 2023.

Keith Phillips, President and CEO of Piedmont, said the first set of shipments marks a pivotal period for the Company as it continues to transition from a developer to a lithium producer. “For the last seven years, Piedmont Lithium has focused on developing a supply of crucial lithium resources, and we are excited to begin generating revenue and cash flow as we see our plans come to fruition,” said Phillips. “Our products will help our customers meet the requirements of the Inflation Reduction Act and, in turn, the growing demands of the U.S. electric vehicle and battery supply chains.”

(Photos below)

Figure 1: AAL Moon preparing to load the first spodumene concentrate from NAL

Figure 2: First NAL spodumene concentrate being loaded onto AAL Moon

About Piedmont Lithium

Piedmont Lithium (Nasdaq: PLL; ASX: PLL) 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. Our goal is to become one of the largest lithium hydroxide producers in North America by processing spodumene concentrate produced from assets where we hold an economic interest. Our projects include our Carolina Lithium and Tennessee Lithium projects in the United States and partnerships in Quebec with Sayona Mining (ASX: SYA) and in Ghana with Atlantic Lithium (AIM: ALL; ASX: A11). These geographically diversified operations will enable us to play a pivotal role in supporting America’s move toward energy independence and the electrification of transportation and energy storage. For more information, follow us on Twitter @PiedmontLithium and visit www.piedmontlithium.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of or as described in securities legislation in the United States and Australia, including statements regarding exploration, development construction and production activities of Sayona Mining, Atlantic Lithium and Piedmont; current plans for Piedmont’s mineral and chemical processing projects; Piedmont’s potential acquisition of an ownership interest in Ewoyaa; and strategy. Such forward-looking statements involve substantial and known and unknown risks, uncertainties, and other risk factors, many of which are beyond our control, and which may cause actual timing of events, results, performance or achievements and other factors to be materially different from the future timing of events, results, performance, or achievements expressed or implied by the forward-looking statements. Such risk factors include, among others: (i) that Piedmont, Sayona Mining or Atlantic Lithium may be unable to commercially extract mineral deposits, (ii) that Piedmont’s, Sayona Mining’s or Atlantic Lithium’s properties may not contain expected reserves, (iii) risks and hazards inherent in the mining business (including risks inherent in exploring, developing, constructing and operating mining projects, environmental hazards, industrial accidents, weather or geologically related conditions), (iv) uncertainty about Piedmont’s ability to obtain required capital to execute its business plan, (v) Piedmont’s ability to hire and retain required personnel, (vi) changes in the market prices of lithium and lithium products, (vii) changes in technology or the development of substitute products, (viii) the uncertainties inherent in exploratory, developmental and production activities, including risks relating to permitting, zoning and regulatory delays related to our projects as well as the projects of our partners in Quebec and Ghana, (ix) uncertainties inherent in the estimation of lithium resources, (x) risks related to competition, (xi) risks related to the information, data and projections related to Sayona Mining or Atlantic Lithium, (xii) occurrences and outcomes of claims, litigation and regulatory actions, investigations and proceedings, (xiii) risks regarding our ability to achieve profitability, enter into and deliver product under supply agreements on favorable terms, our ability to obtain sufficient financing to develop and construct our projects, our ability to comply with governmental regulations and our ability to obtain necessary permits, and (xiv) other uncertainties and risk factors set out in filings made from time to time with the U.S. Securities and Exchange Commission (“SEC”) and the Australian Securities Exchange, including Piedmont’s most recent filings with the SEC. The forward-looking statements, projections and estimates are given only as of the date of this press release and actual events, results, performance and achievements could vary significantly from the forward-looking statements, projections and estimates presented in this press release. Readers are cautioned not to put undue reliance on forward-looking statements. Piedmont disclaims any intent or obligation to update publicly such forward-looking statements, projections, and estimates, whether as a result of new information, future events or otherwise. Additionally, Piedmont, except as required by applicable law, undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of Piedmont, its financial or operating results or its securities.