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Piedmont Lithium enters trading halt pending capital raising

After a recent resource upgrade, the company’s Piedmont Lithium Project is on track to be North America’s largest.
Piedmont Lithium enters trading halt pending capital raising
Piedmont shares last traded at 16 cents each

Piedmont Lithium Ltd (ASX:PLL) has been granted a trading halt by the ASX pending an announcement regarding a capital raising.

The halt will remain in place until the earlier of an announcement released to market or the opening of trade on the ASX on Wednesday July 3, 2019.

 

Last week the lithium explorer updated the JORC mineral resource estimate at its flagship Piedmont Lithium Project in the world-class Carolina Tin-Spodumene Belt in the US.

The global resource for the project increased 47% to 27.9 million tonnes grading 1.11% lithium oxide for 309,000 tonnes of lithium oxide and 764,000 tonnes of lithium carbonate equivalent.

The majority of the resource is at the Core property which was the subject of the resource update.

Notably, 74% of the Core property’s resource is within 100 metres of surface and 97% is within 150 metres of surface.

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