Production and Shipment - Piedmont Lithium shipped approximately 55,700 dry metric tons (dmt) of spodumene concentrate in Q4'24, a 77% increase from Q3'24[2] - The company achieved a total of 116.7 kt dmt of concentrate shipped for FY 2024, representing a 170% increase compared to FY 2023[2] - NAL produced 50.9 kt dmt of concentrate in Q4'24, with a slight decline of 2% from the previous quarter, but still maintaining production above 50,000 dmt for two consecutive quarters[3] - NAL's ore mined increased by 54% quarter-over-quarter to 370.4 kt wmt in Q4'24, and total ore mined for FY 2024 reached 1,195.5 kt wmt, a 35% increase year-over-year[2] Financial Performance - Piedmont recorded $87.8 million in cash and cash equivalents as of December 31, 2024[4] Mergers and Agreements - Piedmont and Sayona Mining signed a definitive agreement to merge in an all-stock transaction, aimed at creating a leading North American hard rock lithium producer[3] Production Guidance and Utilization - The company is on track to meet Sayona Mining's fiscal year 2025 production guidance of 190,000 – 210,000 dmt[3] - Mill utilization at NAL was 90% in Q4'24, slightly down from 91% in Q3'24, impacted by a planned shutdown and weather-related issues[3] Lithium Recovery and Quality - The average lithium grade remained stable at approximately 5.4% Li O2 in Q4'24, consistent with previous quarters[2] - Lithium recovery improved to 68% in Q4'24, aligning with the life-of-mine target set in the 2023 Definitive Feasibility Study[3]

Group 1: Merger Overview - Piedmont Lithium (PLL) and Sayona Mining Limited have entered into an all-stock merger agreement to form a unified company, MergeCo, focused on hard rock lithium production [1] - The merger has been unanimously approved by the boards of both companies, pending shareholder and regulatory approvals, expected to close in the first half of 2025 [2] - MergeCo will have a 50%-50% equity holding for shareholders of both companies and will be domiciled in Australia while maintaining a Nasdaq listing [2] Group 2: Strategic Positioning - MergeCo will combine complementary businesses and is expected to become a leader in North American lithium production, with three high-quality development projects and potential for brownfield expansion at North American Lithium (NAL) [1][3] - NAL is the largest lithium operation in North America, targeting 226,000 metric tons per year of spodumene concentrate production [3] Group 3: Operational Synergies - The merger aims to create a simpler and stronger lithium business with low capital intensity and a lower cost base [4] - Shared benefits from synergies, including optimized logistics and procurement, are expected to lower operating costs, while marketing synergies will enhance customer relationships [4] - A strengthened balance sheet will enable MergeCo to fund and accelerate growth plans [4] Group 4: Market Context - There has been a downtrend in lithium prices due to slowing demand growth for electric vehicles (EVs), inventory glut, and increased supply, but long-term prospects for lithium remain robust [5] - Demand for lithium is expected to accelerate due to significant global EV adoption and increasing use in energy storage systems [5] Group 5: Company Performance - Piedmont's shares have underperformed, losing 58.2% in the past year compared to the industry's 9.7% decline [6]

Financial Data and Key Metrics Changes - The company reported significant changes in financial performance, with specific metrics to be detailed in the earnings release [4]. Business Line Data and Key Metrics Changes - Detailed performance metrics for each business line will be provided by the CFO during the financial results review [2]. Market Data and Key Metrics Changes - Market-specific data and performance indicators will be discussed in the context of the company's operational updates [2]. Company Strategy and Development Direction - The company is expected to outline its strategic direction and competitive positioning within the industry during the call [2]. Management's Comments on Operating Environment and Future Outlook - Management will provide insights on the current operating environment and future expectations, highlighting any potential challenges or opportunities [3]. Other Important Information - The call will include forward-looking statements and non-GAAP financial measures, with reconciliations available in the earnings release [3][4]. Q&A Session Summary Question: What are the expectations for future revenue growth? - Management will address revenue growth expectations during the Q&A session, providing insights into market conditions and company strategies [2]. Question: How is the company positioned against competitors? - The competitive landscape and the company's positioning will be discussed, focusing on strategic advantages and market share [2]. Question: What are the key risks identified for the upcoming quarters? - Management will outline key risks that could impact performance in the near term, including market volatility and operational challenges [3].

Company Performance - Piedmont Lithium Inc. reported a quarterly loss of $0.86 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.46, and a significant decline from earnings of $0.88 per share a year ago, indicating an earnings surprise of -86.96% [1] - The company posted revenues of $27.66 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 15.93%, and a decrease from year-ago revenues of $47.13 million [2] - Piedmont Lithium shares have lost about 57% since the beginning of the year, contrasting sharply with the S&P 500's gain of 25.8% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is -$0.28 on revenues of $49 million, and for the current fiscal year, it is -$2.66 on revenues of $108.52 million [7] - The estimate revisions trend for Piedmont Lithium is mixed, resulting in a Zacks Rank 3 (Hold) for the stock, suggesting it is expected to perform in line with the market in the near future [6] Industry Context - The Mining - Miscellaneous industry, to which Piedmont Lithium belongs, is currently in the bottom 29% of over 250 Zacks industries, indicating potential challenges for stock performance [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact investor sentiment and stock performance [5]

Financial Performance - Piedmont Lithium reported record shipments of approximately 31,500 dmt of spodumene concentrate in Q3'24, generating revenue of $27.7 million with a realized price of $878 per dmt[2]. - Piedmont's gross profit margin for Q3'24 was 9.6%, with a gross profit of $2.7 million, compared to a gross profit margin of 50.4% and $23.8 million in Q3'23[6]. - Piedmont recorded a net loss of $16.7 million in Q3'24, with an adjusted net loss of $8.1 million[6]. - Revenue for the three months ended September 30, 2023, was $27.663 million, compared to $47.127 million for the same period in 2022[20]. - Gross profit for the three months ended September 30, 2023, was $2.653 million, down from $23.764 million year-over-year[20]. - Net loss for the three months ended September 30, 2023, was $16.687 million, compared to a net income of $22.891 million in the same period last year[20]. - Basic earnings per share for the three months ended September 30, 2023, was $(0.86), compared to $1.19 for the same period in 2022[20]. - Net loss for the nine months ended September 30, 2024, was $53,630,000 compared to a net income of $3,613,000 for the same period in 2023[22]. - Adjusted net loss income for the three months ended September 30, 2024, was $(8,133,000), translating to an adjusted diluted EPS of $(0.42)[24]. - Net loss for the three months ended September 30, 2024, was $16,687,000 compared to a net income of $22,891,000 for the same period in 2023, representing a significant decline[26]. Production and Shipments - North American Lithium (NAL) achieved a quarterly production record of approximately 52,100 dmt in Q3'24, up 5% from Q2'24, with mill utilization reaching 91%[8]. - The company expects to ship between 41,000 to 55,000 dmt of spodumene concentrate in Q4'24, aiming for total shipments of approximately 102,000 to 116,000 dmt in 2024[2]. - Shipments for Q4'24 are expected to be between 41,000 to 55,000 dmt, with a total forecast of 102,000 to 116,000 dmt for the full year 2024[14]. Cost Management and Savings - The company expects to achieve $14 million in annual cost savings in 2024 following a 48% reduction in workforce since February 2024[7]. - Capital expenditures for Q4'24 are projected to be less than $1 million, with full-year guidance of $11 to $12 million[14]. - The company incurred restructuring and impairment charges of $4,563,000 related to the 2024 Cost Savings Plan and impairment of fixed assets associated with Tennessee Lithium[26]. Cash and Assets - The company has $64.4 million in cash and cash equivalents as of September 30, 2024, and entered into a non-dilutive $25 million working capital facility[1]. - Cash and cash equivalents decreased from $71,730,000 at the beginning of the period to $64,358,000 at the end of the period, a decrease of approximately 7.7%[22]. - Total current assets decreased from $76,154,000 as of December 31, 2023, to $73,654,000 as of September 30, 2024, a decline of approximately 3.3%[21]. - Total liabilities decreased from $48,925,000 as of December 31, 2023, to $43,021,000 as of September 30, 2024, a reduction of approximately 12.1%[21]. - Total stockholders' equity decreased from $332,330,000 as of December 31, 2023, to $286,206,000 as of September 30, 2024, a decline of approximately 13.9%[21]. Regulatory and Project Developments - The Ewoyaa Lithium Project in Ghana received both an environmental permit and a Mine Operating Permit, marking significant regulatory progress[3]. - Carolina Lithium is positioned to benefit from the U.S. Department of the Treasury's 45X final rule guidance, which could enhance the project's after-tax economics[12]. - Piedmont plans to shift its proposed Tennessee Lithium conversion capacity to Carolina Lithium, aiming to increase U.S. lithium hydroxide production efficiency[13]. Investments and Affiliates - Investments in and advances to affiliates are expected to be $27 to $29 million for the full year 2024, with $25 million year-to-date[14]. - Advances to affiliates increased from $28,189,000 as of December 31, 2023, to $39,208,000 as of September 30, 2024, an increase of approximately 39.0%[21]. - The company reported a loss from equity method investments of $13,864,000 for the nine months ended September 30, 2024, compared to a loss of $1,565,000 for the same period in 2023[22]. Other Financial Metrics - Adjusted EBITDA for the three months ended September 30, 2024, was $(8,706,000), a decrease from $(13,153,000) in the previous quarter and an increase from $16,180,000 in the same quarter last year[26]. - Loss on sale of assets amounted to $35,000 for the three months ended September 30, 2024, compared to a loss of $656,000 in the previous quarter[26]. - The company recognized a noncash gain on dilution from equity method investments primarily due to Piedmont's decision not to participate in Sayona Mining's share issuances[26]. - Other costs, including legal and transactional costs, totaled $1,592,000 for the three months ended September 30, 2024[26]. - The company experienced foreign currency exchange losses of $(266,000) related to fluctuations in Canadian and Australian dollars[26].

Wall Street expects a year-over-year decline in earnings on lower revenues when Piedmont Lithium Inc. (PLL) reports results for the quarter ended September 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates. The stock might move higher if these key numbers top expectations in the upcoming earnings report. On the other hand, if they miss, the ...

Piedmont Lithium Inc. (PLL) shares ended the last trading session 11.3% higher at $9.20. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 2.6% gain over the past four weeks. Shares of Piedmont Lithium gained since the news that it has established an At Market Issuance Sales Agreement with B. Riley Securities, Inc. The agreement allows Piedmont Lithium to potentially sell common stock through B. Riley Securities. Thi ...

Piedmont Lithium Inc. (PLL) came out with a quarterly loss of $0.69 per share versus the Zacks Consensus Estimate of a loss of $0.29. This compares to loss of $0.55 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -137.93%. A quarter ago, it was expected that this company would post a loss of $0.54 per share when it actually produced a loss of $0.61, delivering a surprise of -12.96%. Over the last four quarters, the company ha ...

Core Insights - Sayona Mining has completed and validated all assay results from the 2023 drilling campaign, indicating a potential connection between various sectors of a large lithium mineralised system [1][2] - The company plans to conduct a further drilling program of 70,000 meters throughout 2024 to enhance its Mineral Resource Estimate (MRE) [1] Drilling Results - The 2023 drill program at the Moblan Lithium Project has successfully demonstrated the potential to increase the mineral resource base, with high-grade lithium mineralisation identified outside the MRE pit shells, particularly in the Inter Zone Area [2][10] - Recent results from 34 new drillholes totaling 7,853 meters have highlighted significant lithium intersections, including 41.80 meters at 1.44% Li2O and 39.55 meters at 1.63% Li2O [8][9] Project Development - The Moblan deposit now extends approximately 2.3 kilometers east-west, 1.2 kilometers north-south, and to a depth of about 450 meters, showcasing its extensive size and potential [3] - Sayona's assets in Québec include the North American Lithium, Authier Lithium Project, and Tansim Lithium Project, supported by a strategic partnership with Piedmont Lithium Inc. [5] Strategic Importance - The latest results reinforce the significance of the Moblan project as a central component of Sayona's Eeyou-Istchee James Bay hub, indicating considerable potential for uncovering additional extensions to this premium lithium deposit [10][11]

Core Insights - Sayona Mining Limited announced results from 94 new drillholes totaling 20,735 meters at its Moblan Lithium Project, confirming the high-grade nature of this strategic asset [1][2][3] Drilling Program and Results - The drilling program aimed to test extensions to mineralization and provide in-fill data for upgrading Mineral Resource categories, with significant results indicating high-grade lithium mineralization outside the Mineral Resource Estimate (MRE) pit shells, particularly in the Inter Zone Area [2][5] - The latest results include thick intervals of high-grade lithium, such as 40.70 meters at 1.52% Li2O and 78.20 meters at 1.55% Li2O from the South Pegmatites [7] Project Significance - The Moblan Lithium Project is positioned as the centerpiece of Sayona's Eeyou-Istchee James Bay hub in northern Quebec, with potential for expanding the existing mineral resource base [3][4] - The project is expected to supply Québec-produced lithium derivatives to the growing North American battery and electric vehicle sector [6] Future Plans - Sayona has commenced a further drilling program to be completed throughout 2024, with additional assay results pending for 34 drillholes from the 2023 campaign [6][7]