Piedmont Lithium Reports Record Shipments and Strategic Merger

Piedmont Lithium ( (PLLTL) ) has released its Q4 earnings. Here is a breakdown of the information Piedmont Lithium presented to its investors.

Piedmont Lithium Inc. is a North American company specializing in the production and supply of lithium products, crucial for the electric vehicle supply chain, with operations in the United States, Quebec, and Ghana.

Piedmont Lithium reported a strong performance in Q4 2024 and throughout the year, highlighted by record shipments of spodumene concentrate and significant revenue achievements. The company also announced a definitive merger agreement with Sayona Mining, which is expected to further strengthen its position in the lithium market.

In terms of financial performance, Piedmont achieved record shipments of 55,700 dmt in Q4 at a realized price of $818 per dmt, leading to a revenue of $45.6 million. For the full year, shipments reached 116,700 dmt with a revenue of $99.9 million. Despite facing a net loss, the company successfully implemented a cost savings plan, achieving $14 million in annual savings, and maintained a robust cash position of $87.8 million.

Strategically, the completion of the merger with Sayona Mining is expected in mid-2025, positioning the combined entity as a leading lithium producer in North America. The Ewoyaa Lithium Project in Ghana received key regulatory approvals, marking progress towards becoming the nation’s first lithium-producing mine, and developments at the Carolina Lithium Project may enhance economic prospects due to recent regulatory changes.

Looking forward, Piedmont expects to maintain strong shipment volumes in 2025, with guidance between 113,000 and 130,000 dmt. The company is focused on leveraging its strategic initiatives, including the merger and ongoing project developments, to capitalize on future lithium market opportunities, despite current market challenges.