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21/07/21

09:45

Post #: 54649881
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Originally posted by mondy85: ↑

Hi all, Reuters has a rather critical article on PLL today. Sharing here only because I believe JP’s cautious, methodical approach is the right way to go about this kind of business. No criticism of Piedmont intended, just demonstrating the risks of trying to go too hard too fast. Here’s a key excerpt:

+++

Piedmont has also hired investment banks to find investors for its $840 million project, which would include an open-air pit more than 500 feet (152 m) deep and facilities to produce lithium-based electric vehicle (EV) battery chemicals.

The company, however, has not applied for a state mining permit or a necessary zoning variance in Gaston County, just west of Charlotte, despite telling investors since 2018 that it was on the verge of doing so.

Five of the seven members of the county's board of commissioners, who control zoning changes, say they may block or delay the project because Piedmont has not told them what levels of dust, noise and vibrations will occur, nor how water and air quality would be affected. Shares of the company fell as much as 21% on Tuesday after the Reuters story.

"Piedmont has sort of put the proverbial cart before the horse," said Tom Keigher, chair of the board of commissioners. "Why in the world would they make this deal with Tesla before they even have approval for the mine?"

+++

https://www.reuters.com/business/energy/push-supply-tesla-piedmont-lithium-irks-north-carolina-neighbors-2021-07-20/

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Says lots about Tesla too. There's there due diligence?

GLN Price at posting: 96.0¢ Sentiment: Buy Disclosure: Held
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General Discussion Banter GLN, page-6178

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General Discussion Banter GLN, page-6178

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