Piedmont Lithium (US:PLL)2024-05-09 16:50Operational Highlights - NAL (North American Lithium) achieved record monthly concentrate production of 15,669 dmt in March 2024[14] - NAL's Q1 2024 concentrate production reached 40,439 dmt, an 18% increase quarter-over-quarter[14] - NAL's lithium recovery was 69% in March, with mill utilization at 73%[60] Financial Performance - Q1 2024 revenue was $13.4 million, including $13.1 million from one spot shipment and one long-term customer shipment[19, 21] - The realized price per metric ton in Q1 2024 was $865[19] - The realized cost per metric ton in Q1 2024 was $799[19] - Piedmont's Q1 2024 net loss was $23.611 million, or ($1.22) per diluted share[52] - Adjusted net loss for Q1 2024 was $11.860 million, or ($0.61) per diluted share[52] - Piedmont's cash and cash equivalents at the end of Q1 2024 were $71.4 million[19] Outlook - The company anticipates shipping 37,000-39,000 dmt in H1 2024 and 84,000-88,000 dmt in H2 2024, totaling 126,000 dmt for FY2024[66] - Capital expenditures are projected to be $7-$9 million in H1 2024 and $3-$5 million in H2 2024, totaling $10-$14 million for FY2024[66] - Investments in and advances to affiliates are expected to be $25-$26 million in H1 2024 and $7-$12 million in H2 2024, totaling $32-$38 million for FY2024[66]