Piedmont Lithium Inc (PLL)

[conix]

Piedmont Lithium maintains plan to apply for North Carolina permit in August

Jul. 21, 2021 (PLL)

By: Carl Surran, SA News Editor

Piedmont Lithium (NASDAQ:PLL) says it completed the initial presentation to Gaston County, North Carolina, officials for its Carolina Lithium Project and plans to submit its mining permit application in August as planned.

The company says it addressed "misunderstandings" in media reports regarding the mine's development timeline, permit applications and commitment to the environment.

Five out of seven Gaston County board commissioners reportedly said they may block or delay the planned lithium mine and battery chemicals project, sending shares plunging 25% yesterday.

B Riley analyst Lucas Pipes suggests taking advantage of the weakness in the stock price, and highlights that "Piedmont has created multiple pathways for successful customer deliveries through its investments in Canada and more recently Ghana."

According to Bloomberg, Pipes was encouraged by the Gaston County commissioners' apparent desire to balance economic development with citizens' concerns about nearby mining.