Piedmont Lithium (ASX:PLL) has a new substantial shareholder as AustralianSuper Pty Ltd has acquired 31.25 million shares in the company.
This gives the superannuation fund a 5.64% stake in Piedmont who is expediting development at its 100% owned Piedmont Lithium Project the U.S. state of North Carolina.
AustralianSuper is part of the largest industry super fund in Australia with more than 2.2 million members across the country that invests over A$119 billion across a range of asset classes.
Piedmont recently completed a $16 million share placement to institutional and sophisticated investors in Australia, the U.S, Canada, and the U.K.
The company is expecting diamond drilling assays for 42-holes over the coming weeks.