• About
  • Advertise
  • Privacy Policy
  • Contact
Friday, May 20, 2022
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Job Vacancies
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Job Vacancies
No Result
View All Result
The Vaultz News
No Result
View All Result

Piedmont Lithium to Sell 1.5 million Shares to Fund Operations at Ewoyaa and Quebec

March 22, 2022
Stephen AbankwahbyStephen Abankwah
in Extractives/Energy, Sub Top Stories2
0
minerals

lithium

Nasdaq-listed Piedmont Lithium, has announced plans to conduct a Public Offering of 1.5 million shares of its common stock (subject to market and other conditions) to mainly fund its operations in Quebec and Ewoyaa, and other initiatives.

The Company intends to use the net proceeds from the offering to fund its share of the capital required to restart the operations at North American Lithium and Quebec as well as fund the exploration and definitive feasibility studies at Ewoyaa in Ghana.

Likewise, the Public Offering is to help advance the Company’s merchant lithium hydroxide plant in the Southeastern United States, and to continue development of the Carolina Lithium Project, where it is head-quartered. This includes ongoing permitting activities, engineering design, and property acquisition.

RelatedPosts

Global: Autonomous Mining Trucks Population to Reach 1,800 by 2025

GOIL Cashes in on Rising Fuel Prices as Profits Surge Over 91 Percent

MTN Investors Caught in a Bull Trap

Additionally, the net proceeds from the sale of shares may be used to fund possible strategic initiatives and for general corporate purposes, Piedmont stated.

In a press release, Piedmont stated that J.P. Morgan and Evercore ISI are acting as joint book-runners and lead underwriters for the Public Offering. Piedmont intends to grant the underwriters a 30-day option to purchase up to 225,000 additional shares at the issue price of the Public Offering.

lithium mining
Lithium deposits

Commenting on the preliminary economic assessment of the Piedmont Lithium’s portfolio in Quebec and production timelines of Ewoyaa, President and CEO, Keith Phillips, said:

“While there remains a focus on our proposed flagship Carolina Lithium Project in Gaston County, N.C., we’ve been expanding our portfolio of mineral resources, production capacity, and upside financial exposure through assets and strategic investments in Quebec and Ghana.

“The planned 2023 restart of North American Lithium in conjunction with our partner, Sayona Mining, and the potential for spodumene production at Ewoyaa in partnership with Atlantic Lithium as early as 2024, creates an attractive timeline for potential revenue generation that could precede output at our proposed Carolina Lithium project.”

Keith Phillips

Demand for EV Batteries Provides Upside Growth to Lithium Investment

The increased demand for EV batteries as well as the “steady drumbeat of expansion announcements from Original Equipment Manufacturers, continues to drive the need for additional lithium hydroxide supply to support the U.S. market,” Phillips said.

Piedmont Lithium is upbeat about expanding its access to resources, in addition to more hydroxide production capacity through a second potential plant. This, Phillips said, “would serve as a way of delivering security of supply to potential customers and returning value to shareholders in the process.”

The company, in Q3 2021, made an initial investment of 9.9 per cent into Atlantic Lithium (then Iron Ridge). Previous agreement with Atlantic Lithium was such that Piedmont would acquire up to 50 per cent of Atlantic lithium’s portfolio in Ghana via staged investments over 3-4 years supporting exploration, definitive feasibility study, and initial capital costs for Atlantic Lithium’s Ewoyaa Project.

Particularly, recent scoping update of the Ewoyaa project showed that mineral resource estimate increased from an initial 14.5Mt at 1.31% Li2O to 21.3Mt @1.31% Li2O and shows a potential upside project economics. The Ewoyaa project offers life-of-mine (LOM) revenues of more than US$2.43 billion and an internal rate of return (IRR) of 194 per cent over 11.4 years.

READ ALSO: My Commitment to the Party and Government Remain Intact- Deputy Trades Minister

Tags: Ewoyaa projectLithiumMineralsshares

Send your news stories to [email protected] and via WhatsApp on +233543050759.

Related Posts

mining
Extractives/Energy

Global: Autonomous Mining Trucks Population to Reach 1,800 by 2025

May 20, 2022
profit
Extractives/Energy

GOIL Cashes in on Rising Fuel Prices as Profits Surge Over 91 Percent

May 20, 2022
MTN Investors Caught in a Bull Trap
Securities/Markets

MTN Investors Caught in a Bull Trap

May 20, 2022
Rethink Innovative Agriculture, the Quest for Bio-Fertilizer is on- CSIR-SARI
Agribusiness

Rethink Innovative Agriculture, the Quest for Bio-Fertilizer is on- CSIR-SARI

May 20, 2022
climate
Extractives/Energy

Newmont Updates “Accelerated Response” to Climate Change

May 19, 2022
GSE Stocks Drift Without Sense of Direction
Securities/Markets

GSE Stocks Drift Without Sense of Direction

May 19, 2022

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Previous Post

My Commitment to the Party and Government Remain Intact- Deputy Trades Minister

Next Post

Russia-Ukraine War Likely To Impact Negatively On Ghana’s External Sector, BoG Warns

Sign up for The Vaultz analytic wire

Get weekly news analysis from top editors at The Vaultz and stay informed on trending economic and business issues from across the globe.
Mechanical Engineer Supervisor
Job Vacancies

Mechanical Engineer Supervisor Needed For Hiring

by thevaultzMay 20, 2022
mining
Extractives/Energy

Global: Autonomous Mining Trucks Population to Reach 1,800 by 2025

by Stephen AbankwahMay 20, 2022
North Korea: Fighting Covid With Traditional Medicine
Asia

North Korea: Fighting Covid With Traditional Medicine

by Edem NyonatorMay 20, 2022
World Bee Day: ‘We must collaborate to enhance the role of Bees’- FAO
Around the Globe

World Bee Day: ‘We must collaborate to enhance the role of Bees’- FAO

by Deborah Dzifah TamakloeMay 20, 2022
FAO Designates three sites in China as Globally Important Agricultural Heritage Systems
Asia

FAO Designates three sites in China as Globally Important Agricultural Heritage Systems

by Deborah Dzifah TamakloeMay 20, 2022
Quantity Surveyor or Construction Economist
Job Vacancies

Quantity Surveyor or Construction Economist (Male/ Female) Needed For Employment In Accra

by thevaultzMay 20, 2022
Mechanical Engineer Supervisor
mining
North Korea: Fighting Covid With Traditional Medicine
World Bee Day: ‘We must collaborate to enhance the role of Bees’- FAO
FAO Designates three sites in China as Globally Important Agricultural Heritage Systems
Quantity Surveyor or Construction Economist
Snow
FIND OUT MORE

The Vaultz News

Copyright © 2021 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Job Vacancies

Copyright © 2021 The Vaultz News. All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In