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2020

Piedmont Lithium Limited Announces Closing of Public Offering and Full Exercise of Underwriters’ Over-Allotment Option

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NEW YORK – Piedmont Lithium Limited, (Nasdaq, ASX: PLL), today announced the closing of its previously announced underwritten public offering of 2,065,000 American Depositary Shares (“ADS”), which includes the full exercise of the underwriters’ option to purchase 265,000 additional ADSs, each ADS representing 100 of its ordinary shares, at a price per ADS to the public of US$6.30 (“Public Offering“). The aggregate gross proceeds of the Public Offering totaled approximately US$13.0 million.

Piedmont has also received commitments from existing non-U.S. institutional and sophisticated shareholders and directors for 120,000,000 of its 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 (US$7.6 million) (“Private Placement“). Completion of the Private Placement is subject to shareholder approval. The total gross proceeds to the Company from the Public Offering and Private Placement are expected to exceed US$20.5 million before deducting underwriting discounts, commissions and other offering expenses.

ThinkEquity, a division of Fordham Financial Management, Inc., and Loop Capital Markets LLC acted as joint book-running managers for the Public Offering. Canaccord Genuity LLC and Roth Capital Partners are acting as financial advisors for the Public Offering.

Canaccord Genuity (Australia) Limited and Shaw and Partners Limited acted as joint-lead managers to the Private Placement.

Piedmont Lithium intends to use the proceeds from the Public Offering and Private Placement to continue development of the Company’s Piedmont Lithium Project, including a definitive feasibility study, test work, permitting and ongoing land consolidation, and for general corporate purposes.

The Public Offering was made pursuant to an effective shelf registration statement that has been filed with the U.S. Securities and Exchange Commission (the “SEC“). A final prospectus supplement and accompanying prospectus related to the offering of the ADSs have been filed with the SEC and are available on the SEC’s website at http://www.sec.gov and on the ASX website. Copies of the final prospectus supplement and the accompanying prospectus relating to the Public Offering may be obtained from ThinkEquity, a division of Fordham Financial Management, Inc., Prospectus Department, 17 State Street, 22nd Floor, New York, New York 10004, telephone: (877) 436-3673 or e-mail: prospectus@think-equity.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Piedmont Lithium Limited.

Piedmont holds a 100% interest in the Piedmont Lithium Project (“Project“) located within the Carolina Tin-Spodumene Belt (“TSB“) and along trend to the Hallman Beam and Kings Mountain mines, historically providing most of the western world’s lithium between the 1950s and the 1980s. The TSB has been described as one of the largest lithium provinces in the world and is located approximately 25 miles west of Charlotte, North Carolina. It is a premier location for development of an integrated lithium business based on its favorable geology, spodumene-only mineralogy, proven metallurgy and easy access to infrastructure, power, R&D centers for lithium and battery storage, major high-tech population centers and downstream lithium processing facilities.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. For example, Piedmont Lithium Limited is using forward-looking statements in this press release when it discusses the possible offering of additional American Depositary Shares and the intended use of proceeds. Because such statements deal with future events and are based on Piedmont Lithium Limited’s current expectations, they are subject to various risks and uncertainties. Actual results, performance or achievements of Piedmont Lithium Limited could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including market conditions and the satisfaction of all conditions to, and the closing of, the offering, as well as those discussed under the heading “Risk Factors” in Piedmont Lithium Limited’s annual report on Form 20-F filed with the SEC on November 1, 2019, and in any subsequent filings with the SEC. Except as otherwise required by law, Piedmont Lithium Limited undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Piedmont Lithium Limited is not responsible for the contents of third-party websites.

Keith D. Phillips

President & CEO

T: +1 973 809 0505

E: kphillips@piedmontlithium.com

Tim McKenna

Investor and Government Relations

T: +1 732 331 6457

E: tmckenna@piedmontlithium.com


Piedmont Raises A$29 Million to Continue Development of The Piedmont Lithium Project

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Piedmont Lithium Limited (“Piedmont” or “Company”) is pleased to announce that it has received commitments for a U.S. public offering of 1,800,000 of its American Depositary Shares (“ADSs”), each representing 100 of its ordinary shares, at an issue price of US$6.30 per ADS, to raise gross proceeds of US$11.3 million (~A$16.2 million) (“Public Offering”).

ThinkEquity, a division of Fordham Financial Management, Inc., and Loop Capital Markets LLC are acting as joint book-running managers for the Public Offering, and Canaccord Genuity LLC and Roth Capital Partners are acting as financial advisors. Due to strong investor demand, the underwriters have also exercised their option to purchase an additional 265,000 ADSs from the Company to cover over­ allotments at the issue price of US$6.30 per ADS, to raise additional gross proceeds of US$1.7 million (~A$2.4 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 (“Private Placement”). Completion of the Private Placement is subject to shareholder approval to be sought at a general meeting expected to be held late July 2020. Canaccord Genuity (Australia) Limited and Shaw and Partners Limited are acting as joint-lead managers to the Private Placement.

Directors of Piedmont will, subject to shareholder approval, participate in the Private Placement by subscribing for 3,590,909 ordinary shares of the total 120,000,000 shares.

Proceeds from the Public Offering and Private Placement will be used to continue development of the Company’s Piedmont Lithium Project, including a definitive feasibility study, testwork, permitting, and ongoing land consolidation, and for general corporate purposes.

The Public Offering is expected to close on or about June 11, 2020 and the ADSs, each representing 100 ordinary shares, will be issued under ASX Listing Rules 7.1 (123,948,030 ordinary shares) and 7.1A (82,551,970 ordinary shares). The Private Placement is expected to be completed in late July 2020, following shareholder approval. The issue price of A$0.09 per ordinary share represents a 21% discount to the 20-day VWAP on ASX of A$0.114.

The Public Offering is being made pursuant to an effective shelf registration statement that has been filed with the U.S. Securities and Exchange Commission (the “SEC”). A prospectus supplement related to the offering of the ADSs has been filed with the SEC and is available on the SEC’s website at http://www.sec.gov and on the ASX website.

This press release is not an offer or sale of the securities in the United States or in any other jurisdiction where such offer or sale is prohibited, and such securities may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act of 1933, as amended.

About Piedmont

Piedmont holds a 100% interest in the Piedmont Lithium Project (“Project”) located within the Carolina Tin-Spodumene Belt (“TSB”) and along trend to the Hallman Beam and Kings Mountain mines, historically providing most of the western world’s lithium between the 1950s and the 1980s. The TSB has been described as one of the largest lithium provinces in the world and is located approximately 25 miles west of Charlotte, North Carolina. It is a premier location for development of an integrated lithium business based on its favorable geology, spodumene-only mineralogy, proven metallurgy and easy access to infrastructure, power, R&D centers for lithium and battery storage, major high-tech population centers and downstream lithium processing facilities.

This announcement has been authorized for release by the Company’s President & CEO, Keith D. Phillips.

Prospectus for US Public Offering

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PROSPECTUS SUPPLEMENT
(To the Prospectus Dated November 14, 2019)
1,800,000 American Depositary Shares
Representing Ordinary Shares

This is a firm commitment public offering of 1,800,000 American Depositary Shares (‘‘ADSs’’), each representing 100 of our ordinary shares, no par value.

The ADSs are listed on the Nasdaq Capital Market (the ‘‘Nasdaq’’) under the symbol ‘‘PLL.’’ On June 5, 2020, the last reported sale price of the ADSs was US$8.26 per ADS on Nasdaq. In addition, our ordinary shares are listed on the Australian Securities Exchange (the ‘‘ASX’’) under the symbol ‘‘PLL.’’ On June 5, 2020, the last reported sale price of our ordinary shares was A$0.13 per share on the ASX, which is equivalent to $9.10 per ADS, based on an exchange rate of $0.70 to A$1.00 as of June 5, 2020 and an ADS-to-share ratio of 1 to 100. The highest aggregate market value of the outstanding ADSs held by non-affiliates within the 60 days prior to this prospectus supplement was approximately $59.1 million. During the twelve calendar months immediately prior to and including the date of this prospectus supplement, we have not sold any ADSs pursuant to General Instruction I.B.5. of Form F-3.

We are an ‘‘emerging growth company’’ under the federal securities laws and have elected to comply with certain reduced public company reporting requirements.

After the pricing of this offering, we expect to offer certain of our existing shareholders the opportunity to purchase in a private placement transaction or a Regulation S transaction up to an aggregate of 120,000,000 ordinary shares at the public offering price of this offering. The closing of this offering is not conditioned upon closing of such placements. We expect the concurrent placements will be fully committed upon the closing of this offering, but the completion of such placements will be subject to shareholder approval pursuant to ASX listing rules.

Investing in the ADSs involves a high degree of risk. Before buying any ADSs, you should review carefully the risks and uncertainties described under the heading ‘‘Risk Factors’’ beginning on page S-10 of this prospectus supplement and in the documents incorporated by reference into this prospectus supplement and the accompanying prospectus.

Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense.

Proposed Issue of Securities

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Entity name: PIEDMONT LITHIUM LTD

Announcement Type: New announcement

Date of this announcement: Thursday June 11, 2020

The Proposed issue is: A placement or other type of issue

Total number of +securities proposed to be issued for a placement or other type of issue

ASX +Security Code: PLL

+Security Description: ORDINARY FULLY PAID

Maximum Number of +securities to be issued: 206,500,000

Proposed +issue date: Thursday June 11, 2020

Refer to next page for full details of the announcement

Interim Financial Statements for U.S. Public Offering

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Piedmont Lithium Limited
UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
for the nine months ended March 31, 2020 and 2019

Piedmont Announces Pricing of Public Offering

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NEW YORK – Piedmont Lithium Limited (“Piedmont” or “Company”) (Nasdaq:PLL; ASX:PLL) today announced the pricing of an underwritten public offering of 1,800,000 American Depositary Shares, each representing 100 of its ordinary shares (“Public Offering”), at a price per ADS to the public of $6.30, for aggregate gross proceeds of $11,340,000. Piedmont has granted the underwriters a 30-day option to purchase up to an additional 265,000 of the ADSs sold in the Public Offering to cover over-allotments at the issue price of the Public Offering. The Public Offering is expected to close on June 11, 2020, subject to customary closing conditions.

ThinkEquity, a division of Fordham Financial Management, Inc., and Loop Capital Markets LLC are acting as joint book-running managers for the offering.

Piedmont also intends to conduct a substantially concurrent Australian private placement of up to 120,000,000 ordinary shares to existing non-U.S. institutional and sophisticated investors (“Private Placement”), at a price equivalent to the issue price in the Public Offering. The Public Offering is not contingent upon the Private Placement. The Company expects the Private Placement will be fully committed upon the closing of the Public Offering, but the completion of the Private Placement will be subject to shareholder approval pursuant to applicable ASX listing rules.

Proceeds from the offerings will be used to continue development of the Company’s Piedmont Lithium Project, including a definitive feasibility study, testwork, permitting, and ongoing land consolidation, and for general corporate purposes.

The Public Offering is being made pursuant to an effective shelf registration statement that has been filed with the U.S. Securities and Exchange Commission (the “SEC”). A prospectus supplement related to the offering of the ADSs will be filed with the SEC and when available, may be obtained on the SEC’s website at http://www.sec.gov and on the ASX website. Copies of the prospectus supplement and the accompanying prospectus relating to the Public Offering may be obtained from ThinkEquity, a division of Fordham Financial Management, Inc., Prospectus Department, 17 State Street, 22nd Floor, New York, New York 10004, telephone: (877) 436-3673 or e-mail: prospectus@think-equity.com.

This press release is not an offer or sale of the securities in the United States or in any other jurisdiction where such offer or sale is prohibited, and such securities may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act of 1933, as amended.

About Piedmont

Piedmont holds a 100% interest in the Piedmont Lithium Project (“Project”) located within the Carolina Tin-Spodumene Belt (“TSB”) and along trend to the Hallman Beam and Kings Mountain mines, historically providing most of the western world’s lithium between the 1950s and the 1980s. The TSB has been described as one of the largest lithium provinces in the world and is located approximately 25 miles west of Charlotte, North Carolina. It is a premier location for development of an integrated lithium business based on its favorable geology, spodumene-only mineralogy, proven metallurgy and easy access to infrastructure, power, R&D centers for lithium and battery storage, major high-tech population centers and downstream lithium processing facilities.

Keith Phillips

President & CEO

T: +1 973 809 0505

E: kphillips@piedmontlithium.com

Tim McKenna

Investor and Government Relations

T: +1 732 331 6457

E: tmckenna@piedmontlithium.com

Piedmont Announces Proposed U.S. Public Offering of American Depositary Shares

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NEW YORK – Piedmont Lithium Limited (“Piedmont” or “Company”) (Nasdaq:PLL; ASX:PLL) todayannounced that it plans to conduct a U.S. public offering, subject to market and other conditions, of its American Depositary Shares (“ADSs”), each representing 100 of its ordinary shares (“Public Offering”). Piedmont intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the ADSs sold in the Public Offering to cover over-allotments at the issue price of the Public Offering.

ThinkEquity, a division of Fordham Financial Management, Inc., and Loop Capital Markets LLC are acting as joint book-running managers for the offering.

Piedmont also intends to conduct a substantially concurrent Australian private placement to existing non-U.S. institutional and sophisticated investors (“Private Placement”), at a price equivalent to the issue price of the Public Offering. The Public Offering is not contingent upon the Private Placement. The Company expects the Private Placement will be fully committed upon the closing of the Public Offering, but the completion of the Private Placement will be subject to shareholder approval pursuant to applicable ASX listing rules.

Proceeds from the offerings will be used to continue development of the Company’s Piedmont Lithium Project, including a definitive feasibility study, testwork, permitting, and ongoing land consolidation, and for general corporate purposes.

The Public Offering is being made pursuant to an effective shelf registration statement that has been filed with the U.S. Securities and Exchange Commission (the “SEC”). A preliminary prospectus supplement related to the offering of the ADSs will be filed with the SEC and will be available on the SEC’s website at http://www.sec.gov and on the ASX website. Copies of the preliminary prospectus supplements and the accompanying prospectus relating to the Public Offering may be obtained from ThinkEquity, a division of Fordham Financial Management, Inc., Prospectus Department, 17 State Street, 22nd Floor, New York, New York 10004, telephone: (877) 436-3673 or e-mail: prospectus@think-equity.com.

This press release is not an offer or sale of the securities in the United States or in any other jurisdiction where such offer or sale is prohibited, and such securities may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act of 1933, as amended.

About Piedmont

Piedmont holds a 100% interest in the Piedmont Lithium Project (“Project”) located within the Carolina Tin-Spodumene Belt (“TSB”) and along trend to the Hallman Beam and Kings Mountain mines, historically providing most of the western world’s lithium between the 1950s and the 1980s. The TSB has been described as one of the largest lithium provinces in the world and is located approximately 25 miles west of Charlotte, North Carolina. It is a premier location for development of an integrated lithium business based on its favorable geology, spodumene-only mineralogy, proven metallurgy and easy access to infrastructure, power, R&D centers for lithium and battery storage, major high-tech population centers and downstream lithium processing facilities.

For further information, contact:

Keith Phillips

President & CEO

T: +1 973 809 0505

E: kphillips@piedmontlithium.com

Tim McKenna

Investor and Government Relations

T: +1 732 331 6457

E: tmckenna@piedmontlithium.com

Piedmont Lithium Appointment of Lithium Industry Veteran as Vice President – Sales & Marketing

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  • Mr. Austin Devaney to join Piedmont 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

NEW YORK – Piedmont Lithium Limited (ASX:PLL; NASDAQ:PLL) (“Piedmont” or “Company”) is pleased to announce that it has appointed Mr. Austin Devaney as Vice President – Sales & Marketing. Mr. Devaney will play a broad strategic role with Piedmont and will drive relationships with the global automotive, battery and cathode companies that are the prospective customers for the battery-grade lithium hydroxide we plan to produce in the United States.

Mr. Devaney is a chemical engineer by training and has spent most of his career in senior commercial roles. From 2015 to 2019 he served in increasingly senior sales and marketing roles with Albemarle Corporation, the world’s #1 lithium producer, ultimately serving as Vice President Strategic Marketing and Customer Excellence. For Albemarle’s predecessor, Rockwood Lithium, Mr. Devaney served as Global Product Manager – Lithium Hydroxide, and National Sales Manager – Battery Products.

In his time at Albemarle and Rockwood, Mr. Devaney developed broad and deep relationships with many of the most important participants in the global electric vehicle supply chain. His technical background was particularly useful in navigating the product qualification processes that are required by global auto makers. This experience will be directly relevant as Piedmont completes its initial lithium hydroxide testwork programs in coming weeks and will have product samples to share with prospective customers for the first time.

Prior to his time in the lithium business, Mr. Devaney had senior marketing and operational roles with US chemical companies including Occidental Chemical Corporation, Kemira, and Fuchs Lubricants. After leaving Albemarle in 2019, he served as Director, Lithium & Battery Materials for IHS Markit. He earned his BS in Chemical Engineering from Clemson University and his MBA from Southern Methodist University.

Mr. Devaney will join Piedmont on July 1, 2020 and will be based in the Company’s Belmont, North Carolina headquarters.

Mr. Devaney commented: “I am excited to join the Piedmont team and help advance this project located in one of the key locations in the world both from a lithium and automotive perspective. The work that the team has done has Piedmont on a low risk path to convert spodumene to lithium hydroxide in a competitive location.”

Keith D. Phillips, President and Chief Executive Officer, commented: “We are very pleased to welcome Mr. Devaney to our senior management team. Austin is one of the world’s most experienced lithium marketing professionals, having played a senior role with industry-leader Albemarle for most of the past decade. His relationships with important players in the EV supply chain will be instrumental in positioning Piedmont to secure lithium sales agreements with customers of the highest caliber. 80% of the world’s lithium hydroxide is currently produced in China, and Piedmont aims to play a leadership role in helping the EV sector address this over-reliance.”

Keith Phillips

President & CEO

T: +1 973 809 0505

E: kphillips@piedmontlithium.com

Tim McKenna

Investor and Government Relations

T: +1 732 331 6457

E: tmckenna@piedmontlithium.com


Piedmont Lithium’s Chemical Plant PFS Demonstrates Exceptional Economics and Optionality of USA Location

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NEW YORK – Piedmont Lithium Limited (ASX:PLL; NASDAQ:PLL) (“Piedmont” or “Company”) is pleased to report the results of the Company’s pre-feasibility study (“PFS”) for its proposed lithium hydroxide chemical plant (“Chemical Plant”) in Kings Mountain, North Carolina, USA. The PFS assumes a stand-alone merchant Chemical Plant that would convert spodumene concentrate purchased on the global market to battery-grade lithium hydroxide (“Merchant Project”).

Concurrently, Piedmont has updated the scoping study (“Scoping Study”) for its integrated mine-to-hydroxide project (“Integrated Project”) to reflect the updated Chemical Plant PFS. Both studies confirm that Piedmont will be a strategic and low-cost producer of battery-grade lithium hydroxide. Piedmont benefits from access to the exceptional infrastructure, low operating costs and low corporate taxes enjoyed by American industrial companies.

Piedmont’s Chemical Plant would create an alternative to the numerous merchant spodumene converters currently operating in China and dominating the world lithium hydroxide market, thus providing US and European automotive companies a secure and independent American source of the lithium hydroxide required for their supply chains.

“The Chemical Plant PFS demonstrates the economic benefit of developing a lithium chemical business in North Carolina, USA, with its exceptional infrastructure, low operating costs and competitive tax regime.

80% of the world’s lithium hydroxide is produced in China, largely by non-integrated ‘merchant’ producers sourcing spodumene concentrate from Western Australia. As global automotive companies electrify their fleets, we expect them to increasingly seek ex-China sources of lithium supply, and North Carolina is ideally-positioned to benefit given its proximity to major auto markets in the US and Europe, and the deep lithium talent pool resident in the region.

Piedmont will now advance the Chemical Plant through the permitting and definitive feasibility processes, providing us the option to move aggressively on either a merchant or integrated basis toward first lithium production in 2023 as the transition to electric vehicles begins to seriously take hold”.

Keith D. Phillips, President and Chief Executive Officer

To view the full ASX Announcement, click here.

Keith D. Phillips

President & CEO

T: +1 973 809 0505

E: kphillips@piedmontlithium.com

Tim McKenna

Investor & Government Relations

T: +1 732 331 6457

E: tmckenna@piedmontlithium.com


Piedmont Completes Additional Testwork to Produce High Grade Spodumene and Byproduct Concentrates

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  • 120 kg of Dense Medium Separation (“DMS”) and flotation concentrates prepared for LiOH testwork
  • Byproduct quartz samples have received positive initial feedback from key potential customers
    • Quartz samples meet solar glass customer specifications – additional samples requested
    • Additional potential clients will receive byproduct quartz, feldspar and mica samples in Q2
  • Chemical plant Pre-Feasibility Study and updated integrated Scoping Study expected in May 2020
  • Lithium hydroxide bench scale testwork nearing conclusion with results expected in Q2 2020

NEW YORK – Piedmont Lithium Limited (ASX:PLL; NASDAQ:PLL) (“Piedmont” or “Company”) is pleased to announce that it has produced 120 kg of spodumene concentrate from core samples collected from the Company’s Piedmont Lithium Project (“Project”) located within the world-class Carolina Tin-Spodumene Belt (“TSB”) . These samples have now been used in the bench-scale lithium hydroxide testwork program nearing completion at SGS laboratories in Lakefield, Ontario. Concentrate qualities and recoveries were consistent with earlier testwork programs.

Table 1: Results of Combined DMS + Locked Cycle Flotation Testwork Results

Product

Li2O (%)

Fe2O3 (%)

Recovery (%)

Spodumene Concentrate

6.21

0.87

82.4

We are also pleased to announce production of additional larger-scale samples of quartz and feldspar concentrates as part of this testwork. Quartz samples prepared in SGS laboratories were delivered to potential solar glass customers and met customer quality expectations.

Confidential customer discussions are ongoing through the Company’s marketing partnership with Ion Carbon, a division of AMCI. Samples of quartz and feldspar concentrates will be delivered to other potential clients in the coming weeks. Mica samples will be produced in the coming weeks.

The updated spodumene concentrate and byproduct results will be used to support the Company’s study updates which will be announced later this month.

Table 2: Average of Results of Six Locked Cycle Byproduct Tests

 

Li2O

SiO2

Al2O3

K2O

Na2O

CaO

MgO

MnO

P2O5

Fe2O3

Quartz Concentrate

0.02

99.0

0.32

0.04

0.11

0.01

0.01

0.01

0.01

0.01

Feldspar Concentrate

0.12

68.0

19.35

2.45

9.30

0.17

0.04

0.01

0.15

0.05

Keith D. Phillips, President and Chief Executive Officer, commented: “Our lithium hydroxide testwork program continues at SGS, and is based on the high-quality, low impurity spodumene concentrate prepared from a 1.75 tonne representative ore sample from Piedmont’s Core property. Byproduct testwork is also continuing, and after positive initial customer feedback we have received from prospective quartz customers, we are beginning to evaluate the opportunity to expand our planned byproduct production, potentially further lowering our spodumene concentrate costs.”

To view the full ASX Announcement, please click here.

Keith D. Phillips

President & CEO

T: +1 973 809 0505

E: kphillips@piedmontlithium.com

Timothy McKenna

Investor and Government Relations

T: +1 732 331 6457

E: tmckenna@piedmontlithium.com