Piedmont to raise cash for lithium drive
PERTH (miningweekly.com) – US-based lithium miner Piedmont Lithium has announced plans to raise capital to help restart operations at the North American Lithium (NAL) operations, in Quebec.
Nasdaq and ASX-listed Piedmont told shareholders that it would conduct a public offering of 1.5-million shares of its common stock, subject to market and other conditions.
In addition to funding the restart costs at NAL, the company would also fund exploration and definitive feasibility studies at Eyowaa in Ghana, to advance the company’s merchant lithium hydroxide plant in the south-eastern US, and to continue development of the Carolina lithium project, including ongoing permitting activities, engineering design, and property acquisition.
Additionally, the net proceeds may be used to fund possible strategic initiatives and for general corporate purposes.
Piedmont and partner Syona Mining in August of last year completed the A$128.6-million acquisition of NAL, which comprises 19 contiguous claims covering 582 ha of land in Quebec. The companies are targeting spodumene concentrate production from NAL in the first quarter of 2023.
Piedmont in February unveiled plans to produce 60 000 t/y of lithium hydroxide in the US, with 30 000 t/y of planned production coming from the fully integrated Carolina lithium project, while a further 30 000 t/y of production will be produced at a second planned US plant, with site selection expected in the second quarter of this year.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation