The worldwide investment firm became a substantial holder on Wednesday, July 10, 2019, after participating in Piedmont Lithium's A$21 million placement.
PLL securities are trading at A$0.14.
Earlier this month the company received A$21 million for the issue of 145 million shares priced at A14.5 cents to institutional investors.
Proceeds will be used to complete a definitive feasibility study (DFS) and continue development of the 100%-owned Piedmont Lithium Project in North Carolina, US.
As well as Fidelity, Piedmont’s largest shareholder, AustralianSuper, the largest industry super fund in Australia, also increased its investment through the placement.
PLL recently revealed a major JORC resource update for its flagship project within the world-class Carolina Tin-Spodumene Belt.
The global resource for the project increased 47% to 27.9 million tonnes grading 1.11% lithium oxide for 309,000 tonnes of lithium oxide and 764,000 tonnes of lithium carbonate equivalent.