Investment thesis
Piedmont Lithium ("Piedmont") is a unique lithium play located in the Tin-Spodumene Belt ("TSB") in North Carolina ("NC"), USA. It is unique, given its proximity to infrastructure and easy access to experienced and low-cost labor and energy. Also, Piedmont's after tax free cash flows will benefit from resource depletion allowances and low state and federal tax rates. These metrics compare very favorably to Piedmont's Western Australian ("WA") and Canadian peers that face high royalty and ad valorem/tax rates and elevated input costs. Piedmont's superior positioning on input costs, skilled labor and tax fronts