PLLTL - From developer to lithium producer: Piedmont Lithium CEO shares exciting milestone

(NewsDirect)

Piedmont Lithium president and CEO KeithPhillips, President and CEO of joined Proactive's Stephen Gunnionto discuss the company's transition from a developer to a lithiumproducer after its North American Lithium (NAL) partner Sayona MiningLtd made history with their first commercial shipment of 20,500 metrictonnes of spodumene concentrate produced by NAL in Quebec.

Phillips detailed the revenue generationstrategy, indicating that the company will have shipments through twoprimary streams: a joint venture and direct sales to customers. Thejoint venture will facilitate cash flow into the business, reducingthe need for external funding, while direct sales will contribute toPiedmont Lithium's revenue and profitability.

Regarding theimportance of lithium production, Phillips emphasized the growingdemand driven by the electric vehicle (EV) and battery supply chains.He noted that the EV market is booming, with lithium being a crucialcomponent in batteries. The Inflation Reduction Act in the UnitedStates is also discussed, with Phillips highlighting its positiveimpact on domestic mineral production and its potential benefits forAmerican producers like Piedmont Lithium.

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