The company’s securities will be halted until the beginning of normal trade on Thursday, June 11, or when an announcement is released to the market, whichever occurs earliest.
PLL has a market cap of approximately $107.4 million and shares last traded at 13 cents.
Vice president appointment
Piedmont recently strengthened its team through the appointment of lithium industry veteran Austin Devaney as vice president - sales and marketing.
Devaney, who has spent most of the past decade in senior marketing roles with major lithium producer Albemarle Corporation (NYSE:ALB), will play a broad strategic role with Piedmont.
In this regard, he will drive relationships with the global automotive, battery and cathode companies that are the prospective customers for the battery-grade lithium hydroxide the company plans to produce in the United States.
Tests produce high-grade spodumene
In May the company produced 120 kilograms of spodumene concentrate from core samples collected from its Piedmont Lithium Project within the world-class Carolina Tin-Spodumene Belt of the USA.
These samples have now been used in the bench-scale lithium hydroxide test work program, with results expected in June 2020.