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2019

Hatch Appointed to Deliver PFS for Piedmont’s Lithium Hydroxide Project in North Carolina

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  • Hatch will utilize its experienced lithium staff to complete the PFS within Q2 2020
  • Primero and Marshall Miller continuing their work on Piedmont’s mine/concentrator
  • Piedmont affirms its integrated strategy with DFS expected in Q4 2020

NEW YORK – Piedmont Lithium Limited (“Piedmont” or “Company”) is pleased to announce that it has awarded the prefeasibility study (“PFS“) of its lithium hydroxide chemical plant in Kings Mountain, North Carolina to Hatch. Hatch is a global leader in the development of lithium conversion projects with notable experience including the full EPCM delivery of the Galaxy/Tianqi (Jiangsu) lithium conversion plant in China, the current detailed design engineering for two other spodumene to hydroxide plants, and of one brine conversion plant, in varied locations. Hatch has also studied lithium chemical projects for Mineral Resources (Australia), Kidman/Covalent (Australia), Desert Lion (Namibia), Savannah Resources (Portugal), among many others.

Rob Fraser, Hatch’s Global Lead – Hydrometallurgy, commented: “Piedmont Lithium is advancing a conventional lithium hydroxide project in an enviable location. Hatch is fortunate to have been involved in many of the world’s most prominent lithium processing projects. We look forward to helping Piedmont on this exciting project. This will be an important project for Hatch, and we have assembled a strong and highly experienced team to complete the PFS.”

Bench-scale lithium hydroxide conversion testwork is ongoing at SGS Labs in Lakefield, Ontario. Results are expected in Q1 2020 and will be incorporated into the PFS due in Q2 2020. Upon successful completion of the PFS study the Company will proceed with an integrated definitive feasibility study (“DFS“) for both the mine/concentrator and lithium hydroxide plant. Primero Group will continue to work on engineering studies related to the spodumene concentrator, and Marshall Miller & Associates will provide ongoing mine planning services. The Company affirms its commitment to complete a DFS for the integrated Piedmont Lithium project by the end of 2020.

Discussions with potential strategic and offtake partners will continue through 2020 as the Company aligns itself with customers focused on developing the electric vehicle supply chains in the United States and Europe.

Keith D. Phillips, President and Chief Executive Officer, commented: “We are very pleased to be working with Hatch on the PFS for our lithium hydroxide project. Hatch has unsurpassed lithium processing experience, having studied directly comparable projects for several clients. Having recently received a landmark permit for our mine/concentrator we are moving full-speed ahead to having a shovel-ready project by the end of 2020.”

Click here to view the full ASX Announcement.

This announcement has been authorised for release by the Company’s President & CEO, Keith D. Phillips.

Keith D. Phillips | President & CEO

T: +1 973 809 0505
E: kphillips@piedmontlithium.com

Anastasios (Taso) Arima |Executive Director

T: +1 347 899 1522

E: tarima@piedmontlithium.com


Piedmont Lithium Receives Federal Permit to Develop Mine

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  • A Section 404 Permit has been issued to Piedmont Lithium by the US Army Corps of Engineers
  • The Permit was issued 11 months after application and within the Company’s announced timetable
  • The 404 Permit is the only federal permit required for the development of the Piedmont Lithium Mine
  • Piedmont is accelerating its integrated lithium hydroxide strategy with DFS expected in Q4 2020

NEW YORK – Piedmont Lithium Limited (“Piedmont” or “Company”) is pleased to announce that it has received a Clean Water Act (“CWA“) Section 404 Standard Individual Permit (“Section 404 Permit”) from the US Army Corps of Engineers (“USACE“) for the Company’s 100% owned Piedmont Lithium Project (“Project“) in North Carolina, USA. The USACE completed an Environmental Assessment (“EA”) of the Project in conjunction with six other state and federal agencies based on Piedmont’s December 2018 permit application and the Company’s responses to agency and public comments. The EA resulted in a Finding of No Significant Impact for the Project. The Section 404 Permit is the only federal permit required for the proposed mine and concentrator.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191126005202/en/

Piedmont Lithium and HDR receiving final permit authorization from USACE (Photo: Business Wire)

Piedmont Lithium and HDR receiving final permit authorization from USACE (Photo: Business Wire)

The Company has also received a CWA Section 401 Individual Water Quality Certification from the North Carolina Division of Water Resources. HDR Engineering’s Charlotte Office acted as lead consultant in the preparation of both permit applications.

The 404 and 401 permit approvals were achieved on the Company’s planned permit timeline originally announced in April 2018 and represent a major milestone in the development of the Project.

Piedmont will now accelerate development activities for the integrated lithium chemical business and the Company expects to complete a preliminary feasibility study (“PFS”) for its lithium hydroxide plant in Q2 2020 and a definitive feasibility study (“DFS“) for the Company’s integrated project by the end of 2020.

Keith D. Phillips, President and Chief Executive Officer, commented: “Securing a Section 404 Individual Permit is a major milestone for any natural resource project in the United States, and we are very pleased to have received this authorization. I want to thank our team members and advisors who have worked so diligently and cooperatively throughout this rigorous process, and also express our thanks to the Army Corps of Engineers for the highly professional manner in which they have approached this Project from day one. We will now move forward with the permitting of our chemical plant operations during 2020. Our project is unique in being the only spodumene-to-hydroxide project in the United States, and now also stands out as the most advanced American lithium project from a permitting perspective. We are very excited about the important milestones ahead of us as we look to deliver a DFS for a fully permitted integrated project by the end of 2020.”

Click here to view the full ASX Announcement.

Keith D. Phillips | President & CEO

+1 973 809 0505

kphillips@piedmontlithium.com

Anastasios (Taso) Arima |Executive Director

+1 347 899 1522

tarima@piedmontlithium.com


Piedmont Lithium Presents the September 2019 Quarterly Report

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NEW YORK – Piedmont Lithium Limited (ASX: PLL; NASDAQ: PLL) (“Piedmont” or “Company”) is pleased to present its September 2019 quarterly report. Highlights during and subsequent to the quarter were:

  • Completed an updated Scoping Study for the fully-integrated Project, which was managed by independent consultants, Primero Group Limited, and delivered outstanding results including:

    • a 25-year mine life and compelling economics including an NPV of US$1.45 billion and an after-tax IRR of 34%, due to attractive capital and operating costs;
    • a chemical plant producing 22,700tpa of lithium hydroxide supported by an open pit mine and concentrator producing 160,000tpa of 6% spodumene concentrate; and
    • by-product quartz (86,000tpa), feldspar (125,000tpa), and mica (13,000tpa) providing credits to the cost of lithium production;
  • In response to strong interest from prospective lithium hydroxide customers, the Company has decided to accelerate development of its lithium chemical plant by compressing its project timeline into a single-stage, effectively accelerating chemical plant development by one year while deferring the mine/concentrator construction start date by one year, resulting in integrated operations from day one.
  • Completed PFS-level metallurgical test work demonstrating high quality spodumene concentrate product with a grade above 6.0% Li2O, iron oxide below 1.0%, and low impurities from representative samples using a combination of Dense Medium Separation (“DMS”) and flotation technology;
  • Continued the 25,000-meter Phase 4 drill program, where a total of 103 holes have been completed to date for a total of 17,187 meters;
  • Completed Mineral Resource estimates and bench-scale metallurgical testwork for by-product quartz, feldspar and mica as by-products of spodumene concentrate from the Project. The Mineral Resource estimates were prepared by independent consultants, CSA Global Pty Ltd;
  • Continued numerous preliminary off-take, financing and strategic conversations, including companies from the lithium, mining, chemicals, battery, automotive and private equity sectors;
  • Completed an institutional placement of 145 million shares at A$0.145 per share to raise gross proceeds of A$21 million, led by cornerstone investor, Fidelity International (“Fidelity”) and the Company’s largest shareholder, AustralianSuper.

Next steps:

  • Complete permitting to commence mining and processing operations at the Project;
  • Commence permitting for the chemical plant in Q4 2019;
  • Commence lithium hydroxide testwork in Q4 2019;
  • Complete pre-feasibility study (“PFS”) for the chemical plant in Q2 2020;
  • Continue offtake discussions for lithium hydroxide with participants in the global battery supply chain; and
  • Continue to evaluate strategic partnering options.

Click here to view the full ASX Release.

Keith D. Phillips

President & CEO

T: +1 973 809 0505

E: keith@piedmontlithium.com

Anastasios (Taso) Arima

Executive Director

T: +1 347 899 1522

E: taso@piedmontlithium.com


Piedmont Lithium and AMCI to Partner to Market By-Products

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  • Piedmont and Ion Carbon & Minerals, LLC (“Ion”), a division of the AMCI Group, have executed a letter of intent to partner to market the quartz, feldspar and mica to be produced at the Piedmont Lithium Project
  • Ion has strong relationships with industrial minerals customers throughout the United States
  • Ongoing testwork at SGS Lakefield will support sales and marketing efforts
  • Quartz, feldspar, and mica will provide important credits to lithium hydroxide production costs

 

NEW YORK – Piedmont Lithium Limited (“Piedmont” or “Company”) is pleased to announce that it has entered into a Letter of Intent (“LOI”) with Ion Carbon & Minerals, LLC (“Ion”) to partner to market the quartz, feldspar, and mica produced at the Company’s Piedmont Lithium Project (“Project“).

Ion is wholly owned by the AMCI Group, a leading specialist natural resources investor and marketer with a long-standing track record of success across a broad range of commodities. Ion has an extensive client base in North America which Piedmont and Ion will leverage to gain access to regional industrial minerals markets in the United States.

The LOI sets out the key terms on which Piedmont and Ion propose to partner for by-product marketing, including:

  • The partnership will have exclusive rights to market quartz, feldspar, and mica production from the Project under a formal Marketing Agreement to be prepared on mutually agreeable terms and conditions;
  • The partnership will have an initial term of five years, with an option to extend for an additional five years by mutual agreement; and
  • The partnership will be owned and controlled by Ion and Piedmont and governed by a formal Operating Agreement to be prepared on mutually agreeable terms and conditions.

Ongoing testwork at SGS Lakefield will produce commercial by-product samples from Piedmont ore for delivery to prospective customers.

Keith D. Phillips, President and Chief Executive Officer, commented: “We are very pleased to be partnering with Ion to develop the markets for our important mineral by-products. Quartz, feldspar and mica represented a significant proportion of the revenue for the lithium mines operated in North Carolina from the 1950s to the 1990s. These are significant and growing markets, particularly in the southeast where much of America’s glass, ceramics and building products production is based. North Carolina alone is home to pure quartz, feldspar and mica mines, but mine depletions over the past several years have led to imports taking significant market share. Piedmont is ideally located to enter these markets and should be a low-cost producer given the by-product nature of our activities. We hope to secure important customer relationships over the course of 2020 to provide more clarity to the positive economic impact by-products should have on our Project.”

Click here to view the full ASX Announcement.

Keith D. Phillips | President & CEO

T: +1 973 809 0505

E: kphillips@piedmontlithium.com

Anastasios (Taso) Arima | Executive Director

T: +1 347 899 1522

E: tarima@piedmontlithium.com


Piedmont Accelerating Lithium Hydroxide Strategy

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  • Strong customer interest driving accelerated timeline
    • Piedmont in discussions with numerous prospective lithium hydroxide customers
    • Lithium hydroxide demand projected to grow 35% per annum through 2025
    • Customers aggressively seeking ex-China supply
    • Piedmont uniquely positioned to supply US and European markets
  • Piedmont project to be developed on an integrated basis targeting commissioning in H2 2022
    • Mine and concentrator permitting ongoing with federal permits expected in Q4 2019
    • Lithium hydroxide testwork and chemical plant permitting to commence in Q4 2019
    • Chemical Plant PFS expected in Q2 2020 prior to integrated DFS
    • Offtake agreements for lithium hydroxide expected to underpin project financing

NEW YORK – Piedmont Lithium Limited (“Piedmont” or “Company”) is pleased to announce that in response to strong interest from prospective lithium hydroxide customers, the Company is accelerating development of its lithium chemical plant and is compressing its Project timeline into a single-stage targeting lithium chemical production in late-2022. This new timeline will effectively accelerate chemical plant development by one year while deferring the mine/concentrator construction start date by one year, resulting in integrated operations from day one. This integration should lead to improved project economics given the higher margins associated with the lithium chemical business, while eliminating spodumene concentrate sales into the Chinese market.

The Company is focused on several important near-term milestones including:

  • Key federal permit for the mine and concentrator expected Q4 2019
  • Lithium hydroxide testwork commencing in Q4 2019 with chemical plant pre-feasibility study (“PFS”) anticipated in Q2 2020
  • Integrated definitive feasibility study (“DFS”) and chemical plant permitting targeted for Q4 2020
  • Offtake discussions advancing with numerous participants in the global battery supply chain
  • Marketing efforts related to byproduct quartz, feldspar and mica are well advanced
  • Strategic partnering options being continually evaluated

The Company has a strong cash balance of ~US$14M (~A$21M) and is well-positioned to accelerate the work required to commence construction of the integrated lithium hydroxide project to leverage anticipated shortfalls in lithium hydroxide supply beginning in 2023.

Keith D. Phillips, President and Chief Executive Officer, commented: “Over the past several months we have engaged in encouraging dialogue with prospective customers throughout the lithium supply chain. Themes that are common to all the discussions are: (a) the dramatic growth in lithium hydroxide required to support the EV platforms currently being developed; (b) the strong desire of lithium customers to diversify their supply sources away from the dominant China market; and (c) the concrete plans of selected parties to aggressively develop their battery supply chains in the United States and Europe. Nobody is better positioned than Piedmont Lithium to capitalize on these developments. Ours is the only spodumene project in the United States, and it is the only US lithium project focused on the fast-growing hydroxide market. We are ideally located to serve the rapidly growing battery supply chains in both the United States and Europe.”

Click here to view the full ASX Announcement.

Keith D. Phillips | President & CEO

+1 973 809 0505

kphillips@piedmontlithium.com

Anastasios (Taso) Arima |Executive Director

+1 347 899 1522

tarima@piedmontlithium.com


Results of General Meeting

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Piedmont Lithium Limited (ASX: PLL; NASDAQ: PLL) (“Piedmont” or “Company”) advises that a General Meeting for the Company was held today, October 8, 2019, at 10.00am (WST).

The resolutions voted on were in accordance with the Notice of General Meeting previously provided to the Australian Securities Exchange (“ASX”).

NOTICE OF GENERAL MEETING

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A General Meeting of the Company will be held at the Conference Room, Ground Floor, BGC Centre, 28 The Esplanade, Perth, Western Australia on Tuesday, 8 October 2019 commencing at 10:00am (WST).

This Notice and the accompanying Explanatory Memorandum should be read in its entirety. If Shareholders are in doubt as to how they should vote, they should seek advice from their stock broker, investment advisor, accountant, solicitor or other professional adviser prior to voting.

Should you wish to discuss any matter please do not hesitate to contact the Company Secretary by telephone on + 61 8 9322 6322.

Shareholders are urged to attend or vote by lodging the Proxy Form attached to the Notice.

Piedmont Lithium: Updated Scoping Study Extends Project Life and Enhances Exceptional Economics

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NEW YORK – Piedmont Lithium Limited (“Piedmont” or “Company”) is pleased to report the results of the updated Scoping Study for its vertically integrated lithium hydroxide chemical project located in North Carolina, USA. The Scoping Study includes a steady-state 22,700 tonnes per year (“t/y“) lithium hydroxide (“LiOH“) Chemical Plant supported by a Mine/Concentrator producing 160,000t/y of 6% Li2O spodumene concentrate. By-products quartz, feldspar, and mica will provide credits to the cost of lithium production.

This updated Scoping Study incorporates the expanded Mineral Resource update published in June 2019 which has extended the overall project life to 25 years. The Scoping Study features:

  • Integrated project to produce 22,700t/y of LiOH
  • 25-year project life with 2 years of concentrate-only sales and 23 years of integrated operations
    • More than 100% increase in life-of-project LiOH production compared with prior studies
  • 1st quartile operating costs
    • Lithium hydroxide cash costs of US$3,105/t (AISC of US$3,565/t)
    • Spodumene concentrate cash costs of US$199/t (AISC of US$238/t)
  • Exceptional project economics
    • NPV8% of US$1.45B
    • After-tax IRR of 34%
    • Steady-state annual average EBITDA of US$298M
  • Mine/Concentrator engineering and metallurgical testwork completed to PFS-level
  • Conventional technology selection in all project aspects

Keith D. Phillips, President and Chief Executive Officer, said:

“We are very pleased with the results of the updated Scoping Study, which reflect the benefits of a 25-year mine life, a refined concentrator flow sheet and PFS-level engineering and metallurgy. The economic benefit of developing an integrated lithium chemical business in North Carolina, USA is clear, driven by the exceptional infrastructure and human resource advantages of our location, as well as the competitive royalty and tax regime offered in the United States.

“Recent corporate transactions (i.e. Wesfarmers/Kidman and Albemarle/Wodgina) have reinforced the wisdom of the Company’s integrated business strategy. We will continue to progress our Mine/Concentrator through the permitting and feasibility processes, but we will now redouble our efforts on the strategic front by accelerating our lithium hydroxide testwork and intensifying the initial strategic discussions we have had with a broad array of potential strategic, offtake and financial partners.”

To view the full ASX Announcement, click here.

Keith D. Phillips


President & CEO

+1 973 809 0505

kphillips@piedmontlithium.com

Anastasios (Taso) Arima


Executive Director

+1 347 899 1522

tarima@piedmontlithium.com


Piedmont Lithium Upcoming Conference Participation

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NEW YORK –
Piedmont Lithium Limited (Nasdaq:PLL; ASX:PLL) is pleased to announce that it will be participating in the following upcoming conferences:

Event:

Canaccord Genuity – The Future of Transport Conference

Date:

August 6, 2019

Location:

Boston, Massachusetts

 

 

Event:

Jefferies – Global Industrials Conference

Date:

August 7 – 8, 2019

Location:

New York, New York

 

 

Event:

9th Annual Gateway Conference

Date:

September 4 – 5, 2019

Location:

San Francisco, California

About Piedmont Lithium

Piedmont Lithium Limited (ASX: PLL; Nasdaq: PLL) holds a 100% interest in the Piedmont Lithium Project located within the Carolina Tin-Spodumene Belt (“TSB”) and along trend to the Hallman Beam and Kings Mountain mines, which historically provided most of the western world’s lithium between the 1950s and the 1980s. The TSB has been described as one of the largest lithium regions in the world and is located approximately 25 miles west of Charlotte, North Carolina.

In September 2018 the Company published a Scoping Study for an integrated lithium hydroxide business based on a maiden Mineral Resource estimate of 16.2 million tonnes (“Mt”) grading at 1.12% Li2O which featured a 13-year project life, NPV8 of US$888 million, a US$3,112 per tonne lithium hydroxide operating cost, and a US$193 per tonne spodumene concentrate operating cost.

Forward Looking Statements

This announcement may include forward-looking statements. These forward-looking statements are based on Piedmont’s expectations and beliefs concerning future events. Forward looking statements are necessarily subject to risks, uncertainties and other factors, many of which are outside the control of Piedmont, which could cause actual results to differ materially from such statements. Piedmont makes no undertaking to subsequently update or revise the forward-looking statements made in this announcement, to reflect the circumstances or events after the date of that announcement.

Cautionary Note to United States Investors Concerning Estimates of Measured, Indicated and Inferred Resources

The information contained in this announcement has been prepared in accordance with the requirements of the securities laws in effect in Australia, which differ from the requirements of U.S. securities laws. The terms “mineral resource”, “measured mineral resource”, “indicated mineral resource” and “inferred mineral resource” are Australian terms defined in accordance with the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the “JORC Code”). However, these terms are not defined in Industry Guide 7 (“SEC Industry Guide 7”) under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), and are normally not permitted to be used in reports and filings with the U.S. Securities and Exchange Commission (“SEC”). Accordingly, information contained herein that describes Piedmont’s mineral deposits may not be comparable to similar information made public by U.S. companies subject to reporting and disclosure requirements under the U.S. federal securities laws and the rules and regulations thereunder. U.S. investors are urged to consider closely the disclosure in Piedmont’s Form 20-F, a copy of which may be obtained from Piedmont or from the EDGAR system on the SEC’s website at http://www.sec.gov/.

Competent Persons Statement

The information in this announcement that relates to Exploration Results is based on, and fairly represents, information compiled or reviewed by Mr. Lamont Leatherman, a Competent Person who is a Registered Member of the ‘Society for Mining, Metallurgy and Exploration’, a ‘Recognized Professional Organization’ (RPO). Mr. Leatherman is a consultant to the Company. Mr. Leatherman has sufficient experience that is relevant to the style of mineralization and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr. Leatherman consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

The Project’s Mineral Resource of 16.2Mt @ 1.12% Li2O comprises Indicated Mineral Resources of 8.5Mt @ 1.15% Li2O and Inferred Mineral Resources of 7.7Mt @ 1.09% Li2O. The information in this announcement that relates to Exploration Targets and Mineral Resources is extracted from the Company’s ASX announcement dated June 14, 2018 which is available to view on the Company’s website at www.piedmontlithium.com. The information in this announcement that relates to Metallurgical Testwork Results is extracted from the Company’s ASX announcements dated September 4, 2018 and July 17, 2018 which are available to view on the Company’s website at www.piedmontlithium.com. The information in this announcement that relates to Process Design, Process Plant Capital Costs, and Process Plant Operating Costs is extracted from the Company’s ASX announcements dated September 13, 2018 and July 19, 2018 which are available to view on the Company’s website at www.piedmontlithium.com. The information in this announcement that relates to Mining Engineering and Mine Schedule is extracted from the Company’s ASX announcements dated September 13, 2018 and July 19, 2018 which are available to view on the Company’s website at www.piedmontlithium.com.

Piedmont confirms that: a) it is not aware of any new information or data that materially affects the information included in the original ASX announcements; b) all material assumptions and technical parameters underpinning Mineral Resources, Exploration Targets, Production Targets, and related forecast financial information derived from Production Targets included in the original ASX announcements continue to apply and have not materially changed; and c) the form and context in which the relevant Competent Persons’ findings are presented in this report have not been materially modified from the original ASX announcements.

Investors interested in meeting with Piedmont at or around these events should contact:

Keith D. Phillips

President & CEO

T: +1 973 809 0505

E: kphillips@piedmontlithium.com

Anastasios (Taso) Arima

Executive Director

T: +1 347 899 1522

E: tarima@piedmontlithium.com


Piedmont Lithium Announces Significant Increase in By-Product Mineral Resources

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NEW YORK – Piedmont Lithium Limited (“Piedmont” or “Company”) is pleased to announce updated Mineral Resource estimates for mineral by-products quartz, feldspar and mica from spodumene bearing pegmatites on the Company’s wholly-owned Core property located within the world-class Carolina Tin-Spodumene Belt (“TSB”) in North Carolina, USA (refer Table 1). This is an update to the initial by-product Mineral Resource estimate reported in September 2018.

By-Product Mineral Resource estimates were based on normative mineralogy compositions from 326 drill holes previously analyzed for lithium. The resource details for quartz, feldspar and mica are shown in Table 1. The Mineral Resource estimates have been prepared by independent consultants, CSA Global Pty Ltd (“CSA Global”) and are reported in accordance with the JORC Code (2012 Edition).

 

Table 1: Mineral Resource Estimates for By-Products – Piedmont Lithium Project

Category

Tonnes

(Mt)

Quartz

Feldspar

Mica

Grade

(%)

Tonnes (Mt)

Grade

(%)

Tonnes (Mt)

Grade

(%)

Tonnes (Mt)

Indicated

12.5

30.0

3.75

44.4

5.55

4.5

0.56

Inferred

12.6

28.7

3.61

44.4

5.58

4.4

0.56

Total

25.1

29.3

7.36

44.4

11.13

4.5

1.12
 

In June 2019, the Company reported an updated lithium Mineral Resource for the Core property of 25.1 million tonnes (“Mt”) at a grade of @ 1.09% Li2O. The by-products and lithium Mineral Resource estimates utilize the same geologic model. Piedmont is now updating the Project’s Scoping Study which will include the updated by-product resources and the June 2019 lithium resource.

Keith D. Phillips, President and Chief Executive Officer, commented: “The historic lithium mines in the Carolina Tin-Spodumene Belt generated a material portion of their economics from the sale of by-product minerals quartz, feldspar and mica to the large, local southeastern US industrial markets. These markets have continued to grow, and are currently served in part by high-cost imported material. We expect by-products to represent a significant – and unique – opportunity for Piedmont, and I would note that in our Scoping Study dated September 12, 2018 the by-product credits effectively reduced our cash production costs of lithium hydroxide by more than $750/t, and we expect a similar impact in our study update due next week.”

To view the full ASX Announcement, click here.

Keith D. Phillips | President & CEO

T: +1 973 809 0505

E: kphillips@piedmontlithium.com

Anastasios (Taso) Arima |Executive Director

T: +1 347 899 1522

E: tarima@piedmontlithium.com