viewPiedmont Lithium Ltd

Piedmont Lithium secures $12.2 million in placement

Positively, the placement was oversubscribed and upsized from initial levels.

highway sign that reads Funding next exit
Board and management are subscribing for 3.4 million shares in the placement

Piedmont Lithium Ltd (ASX:PLL) has secured commitments for $12.2 million as part of a share placement priced at 11 cents to institutional and sophisticated investors.

Funds will be used for exploration and infill drilling to expand and upgrade the resource base at the 100%-owned Piedmont Lithium Project in the world-class Carolina Tin-Spodumene Belt in the US.

It will also fund permit applications, pilot-scale metallurgy, additional engineering studies, and ongoing land consolidation.

READ: Piedmont Lithium reveals new high-grade lithium hits in North Carolina

Piedmont’s president and CEO Keith Phillips said: “We are pleased with the strong support received for the placement, which was oversubscribed and upsized from initial levels.

“It is gratifying to see some long-term supporters and my fellow directors participating based on their strong confidence in the quality of our project and the prospects for our company.

“We have an exciting year ahead and securing these funds will allow us to maintain our ambitious development timetable for what we believe to be the world’s most strategically located lithium project.”

Directors and management plan to participate in placement

Notably, officers and directors of Piedmont plan to participate in the placement by subscribing for a total of 3.4 million shares, subject to the necessary approvals.

This is a vote of confidence from directors and management as they further align themselves with shareholders.

READ: Piedmont Lithium brings on-board lithium industry veteran

Piedmont recently appointed Timothy McKenna as an advisor to assist with government and public relations in relation to the Piedmont Lithium Project.

McKenna has over 35 years’ experience in government and public relations roles including as vice president of Rockwood Holdings, Inc. in government and investor relations.

Quick facts: Piedmont Lithium Ltd

Price: 0.93 AUD

Market: ASX
Market Cap: $1.29 billion

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Piedmont Lithium Ltd named herein, including the promotion by the Company of Piedmont Lithium Ltd in any Content on the Site, the Company...


Piedmont Lithium secures offtake agreement and invests $12M into lithium...

Piedmont Lithium Ltd (ASX:PLL) (NASDAQ:PLL) CEO Keith Phillips tells Proactive the group has made a $12 million strategic investment in Quebec hard-rock lithium developer Sayona Mining Ltd (ASX:SYA) (OTCMKTS:DMNXF) (FRA:DML), as well as a binding supply agreement for at least 50% of Sayona...

on 14/1/21

2 min read