Lithium developer Piedmont closes big US raising

By Michael Quinn / March 25, 2022 / www.mining-journal.com / Article Link

JP Morgan and Evercore ISI were lead underwriters.

Aside from the underwriters, investors bought $113.75 million worth of shares priced at $65 each.

Piedmont will use the funds to restart operations at North American Lithium in Quebec - where it has a 37% interest - as well as fund exploration and feasibility studies on its other assets in North America and Ghana.

The cost to restart is yet to be defined.

Piedmont plans to develop 60,000t per annum of lithium hydroxide capacity in the US, and produce more than 500,000tpa of lithium spodumene from multiple hard rock mines, including one in Ghana.

Piedmont had cash of $64 million at the end of December.

Equities in Piedmont were up 9% to A$1.01 in Australian trade, capitalising the company at $1.6 billion. Piedmont's equities on the ASX are CDIs, with one Piedmont share on NASDAQ equivalent to 100 CDIs.

Recent News

Base metals outperform over past month

April 06, 2026 / www.canadianminingreport.com

Gold stocks rise for second week

April 06, 2026 / www.canadianminingreport.com

Gold stocks rebound as metal declines

March 30, 2026 / www.canadianminingreport.com

Energy outperforms gold and tech for first time in years

March 23, 2026 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok