Piedmont Lithium Limited (ASX: PLL; Nasdaq: PLLL) holds a 100% interest in the Piedmont Lithium Project (“Project”) located within the world-class Carolina Tin-Spodumene Belt (“TSB”) and along trend to the Hallman Beam and Kings Mountain mines, historically providing most of the western world’s lithium between the 1950s and the 1990s.
The TSB has been described as one of the largest lithium provinces in the world and is located approximately 25 miles west of Charlotte, North Carolina. It is a premier location to be developing and integrated lithium business based on its favourable geology, proven metallurgy and easy access to infrastructure, power, R&D centres for lithium and battery storage, major high-tech population centres and downstream lithium processing facilities.
The Project was originally explored by Lithium Corporation of America which eventually was acquired by FMC Corporation (“FMC”). FMC and Albemarle Corporation (“Albemarle”) both historically mined the lithium bearing spodumene pegmatites within the TSB and developed and continue to operate the two world-class lithium processing facilities in the region which were the first modern spodumene processing facilities in the western world.
Piedmont currently holds approximately 1,200 acres of surface property and the associated mineral rights. Since acquiring the Project in October 2016, the company has rapidly advanced exploration and development activities, including:
- completion of a large scale drilling program, which successfully identifying substantial high grade mineral resource
- commenced a number of key studies to confirm project’s economic and technical fundamentals, with a Scoping Study due for completion mid 2018
- listed the company’s securities on NASDAQ, thereby better aligning the investor base with the Project’s location
- raised over $20 million in new capital primarily from US based investors and institutions
- appointed an experienced US based executive team
- increased the company’s market capitalisation from $5 million to over $100 million
The company is in a unique position to leverage its position as a first mover in restarting exploration in this historic lithium producing region with the aim of developing a strategic, U.S. domestic source of lithium to supply the increasing electric vehicle and battery storage markets.