|Bid||40.57 x 1000|
|Ask||40.99 x 1000|
|Day's Range||40.75 - 44.26|
|52 Week Range||40.65 - 79.99|
|Beta (5Y Monthly)||0.55|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||100.80|
BELMONT, N.C., June 28, 2022--Piedmont Lithium ("Piedmont") (Nasdaq: PLL; ASX: PLL), a leading, diversified developer of lithium resources critical to the U.S. electric vehicle supply chain, today announced that the board of directors of Sayona Quebec Inc. ("SYQ"), which is owned 75% by Sayona Mining ("Sayona") and 25% by Piedmont, authorized the restart of spodumene concentrate production at its North American Lithium ("NAL") project located near Val-d’Or, Quebec. The NAL restart will feature s
Shares of Sayona Mining jumped nearly 18% to A$0.165 by 0527 GMT, hitting their highest since June 7, while the broader market rose more than half a percent. The proposed upgrade and restart of the Québec-based North American Lithium (NAL) operation have been funded through cash contributions by both Sayona and Piedmont Lithium. Piedmont has a 25% stake in Sayona Quebec, the Sayona Mining unit which owns NAL.
Piedmont Lithium Inc's first steps toward securing lithium supplies will be in Quebec or Ghana, not the United States, as an intensifying North Carolina regulatory review delays the miner's goal of anchoring America's electric vehicle battery renaissance. The delay has forced Piedmont to expand its strategy beyond its proposed North Carolina mine - a project it has touted as the best way to help secure American energy independence, but one that now faces a regulatory quagmire - and fund mines abroad. "We think two of our projects will happen faster than our Carolina Lithium project: Quebec and Ghana," said Chief Executive Keith Phillips.