PROSPECTUS SUPPLEMENT
(To the Prospectus Dated November 14, 2019)
1,800,000 American Depositary Shares
Representing Ordinary Shares

This is a firm commitment public offering of 1,800,000 American Depositary Shares (‘‘ADSs’’), each representing 100 of our ordinary shares, no par value.

The ADSs are listed on the Nasdaq Capital Market (the ‘‘Nasdaq’’) under the symbol ‘‘PLL.’’ On June 5, 2020, the last reported sale price of the ADSs was US$8.26 per ADS on Nasdaq. In addition, our ordinary shares are listed on the Australian Securities Exchange (the ‘‘ASX’’) under the symbol ‘‘PLL.’’ On June 5, 2020, the last reported sale price of our ordinary shares was A$0.13 per share on the ASX, which is equivalent to $9.10 per ADS, based on an exchange rate of $0.70 to A$1.00 as of June 5, 2020 and an ADS-to-share ratio of 1 to 100. The highest aggregate market value of the outstanding ADSs held by non-affiliates within the 60 days prior to this prospectus supplement was approximately $59.1 million. During the twelve calendar months immediately prior to and including the date of this prospectus supplement, we have not sold any ADSs pursuant to General Instruction I.B.5. of Form F-3.

We are an ‘‘emerging growth company’’ under the federal securities laws and have elected to comply with certain reduced public company reporting requirements.

After the pricing of this offering, we expect to offer certain of our existing shareholders the opportunity to purchase in a private placement transaction or a Regulation S transaction up to an aggregate of 120,000,000 ordinary shares at the public offering price of this offering. The closing of this offering is not conditioned upon closing of such placements. We expect the concurrent placements will be fully committed upon the closing of this offering, but the completion of such placements will be subject to shareholder approval pursuant to ASX listing rules.

Investing in the ADSs involves a high degree of risk. Before buying any ADSs, you should review carefully the risks and uncertainties described under the heading ‘‘Risk Factors’’ beginning on page S-10 of this prospectus supplement and in the documents incorporated by reference into this prospectus supplement and the accompanying prospectus.

Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense.

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