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Piedmont grows with more to come in June

United States lithium hopeful Piedmont Lithium has increased resources to 19 million tonnes and has flagged a “material resource upgrade” at its namesake project in North Carolina in June.
Piedmont grows with more to come in June Piedmont grows with more to come in June Piedmont grows with more to come in June Piedmont grows with more to come in June Piedmont grows with more to come in June

Core from Piedmont in North Carolina, USA

Michael Quinn

A 2.8Mt increase has taken overall resources to 19Mt at 1.15% lithium oxide, with three rigs currently in action.

Meanwhile, Piedmont is continuing scoping work - with results due in July - and is planning to complete definitive feasibility work and have permitting approvals by the end of 2019.

Earlier this month Piedmont said it was "evaluating a range of offtake, financing and strategic alternatives".

The company is led by former investment banker Keith Phillips.

Piedmont raised A$12.2 million in equity late last year by issuing new shares priced at 11c each.

Shares in the company were off 3% to 17.5c in morning trade, capitalising the company at $117 million.