Notably, the company’s metallurgy test work results compare favourably in several quality categories with the reported shipments of three emerging Australian spodumene producers.
The pre-feasibility study (PFS) level metallurgical test work was conducted on composite samples of ore from the company’s flagship Piedmont Lithium Project in North Carolina, US.
Overall lithium recovery during testwork for the preferred flowsheet was 77% at a grade of 6.35% lithium oxide.
These results support an overall plant design recovery of 85% when targeting a 6.0% lithium oxide spodumene concentrate product.
Piedmont president and CEO Keith Phillips said: “We are very pleased with the results of this PFS-level test work program, which confirms the outstanding mineralogy and metallurgy of the Piedmont Lithium Project.
“We look forward to reflecting these strong results in our forthcoming scoping study update, which will also incorporate the substantially larger mineral resource announced in June as well as several other constructive refinements.”
$21 million capital raising to progress DFS
Earlier this month, Piedmont raised $21 million through the placement of 145 million shares priced at 14.5 cents to institutional investors.
Proceed from the placement will be used to complete a definitive feasibility study (DFS) and continue development of the Piedmont Lithium Project.
Global asset manager, Fidelity International, subscribed for 74 million shares meaning it will become a substantial shareholder in the company.
Piedmont’s largest shareholder, AustralianSuper, the largest industry super fund in Australia also increased its investment through the $21 million placement.