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

Smaller juniors still financed even in more cautious market

January 13, 2025 / www.canadianminingreport.com

Gold stocks shrug off equity market decline on metal gain

January 13, 2025 / www.canadianminingreport.com

Geopolitical risk outlook unclear after US election

January 06, 2025 / www.canadianminingreport.com

Low valuations offer a cushion to mining sector

January 06, 2025 / www.canadianminingreport.com

Polarized gold and iron ore moves, moderate aluminum and copper gains

December 30, 2024 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok