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Sept 5 – Piedmont Lithium(PLL.O), opens new tab has pulled its application for a debt package from a popular U.S. government loan program and is scaling back ambitious expansion plans across two continents, as tumbling prices of the electric vehicle battery metal force the U.S. miner to conserve cash.
Apr 15 – Many obstacles lie in Piedmont Lithium’s path. Getting approval for a mining permit took them three years and is conditional on the posting of a $1 million reclamation bond. And that was the easy part. (The article by Reuters wrongly references a quarry turned down for a permit in 2022; it was approved in 2023.) Many hurdles still face Piedmont Lithium. The Gaston County Commissioners oppose re-zoning the area for mining; this is the most difficult type of zoning to get approved. Air quality and other permits must be obtained. There is no infrastructure to support mining in the area. The bottom-line is, can PL even afford to build the mine? Lithium prices are low and competition from Albemarle’s re-opened lithium mine in Kings Mountain is high.
Feb 27 – Piedmont Lithium (PLL) Short Position Generated 23% in Q4. Massif Capital featured stocks like Piedmont Lithium Inc. (NASDAQ:PLL) in its Q4 2023 investor letter. Headquartered in Belmont, North Carolina, Piedmont Lithium Inc. (NASDAQ:PLL) is a development stage company, that engages in the exploration and development of resource projects. On February 26, 2024, Piedmont Lithium Inc. (NASDAQ:PLL) stock closed at $12.29 per share. One-month return of Piedmont Lithium Inc. (NASDAQ:PLL) was -23.14%, and its shares lost 23.14% of their value over the last 52 weeks. Piedmont Lithium Inc. (NASDAQ:PLL) has a market capitalization of $236.73 million.
AN ORIGINAL AUDIO STORY SERIES LED BY NATE OTJEN + JUAN MANUEL RUBIO
The project will result in a multiple-season audio documentary series published by Blue Lab. The first season was released in January 2024. It takes a deep look at Piedmont Lithium’s proposed mine in Gaston County, North Carolina. The second season will examine contestations over the Thacker Pass Lithium Mine at Peehee Mu’huh in Humboldt County, Nevada. It will be released in late 2024 or early 2025, along with a critical mapping component.
Feb 23 – Shares of miner Piedmont Lithium PLL.O drop 9.56% to $12.5 premarket on surprise Q4 loss. Co posts reported loss of $1.32 per share, compared with Street estimate of $0.45/shr profit – LSEG data. “PLL had a challenging quarter that was made worse by a downward adjustment to 3Q23 revenue,” – Brokerage TD Cowen (PT $20, Market Perform).
Jan 18 – ASHEVILLE, N.C. (WLOS) — The city of Asheville’s purchase of five electric buses in 2018 has turned into a multi-million-dollar loss. The buses have been broken or unable to run because of software and/or mechanical issues, making them an expensive and disappointing purchase, according to city maintenance and transportation staff.
Nov 11 (Reuters) – Exxon Mobil (XOM.N) is set to unveil its long-awaited lithium strategy on Monday with an announcement that it aims to start production of the electric vehicle (EV) battery metal in Arkansas by 2026, according to a source with direct knowledge of the oil major’s plans.
Vehicles are adding poundage as the auto industry goes electric — and that’s problematic for traffic safety, parking garages and roads.
Some investors might seek to gain portfolio exposure to the lithium industry because we use lithium in batteries for electric vehicles. That’s fine, but it doesn’t mean every lithium miner deserves your hard-earned capital. Piedmont Lithium (NASDAQ:PLL) stock is a good example of this, as it has been on a downtrend and the future prospects aren’t favorable.