https://www.rkequity.com/_files/ugd/affbaa_ff8cbc6fba864294b8e5ca...

https://www.rkequity.com/_files/ugd/affbaa_ff8cbc6fba864294b8e5cae39203053f.pdf

Piedmont are progressing their projects in a very methodical and superbly timed way : Increasing level of complexity for each project built.
It is of no secret PLL are lithium hydroxide focused via the Metso Outotec process.

Page 11 footnote 1 : Potential LiOH production from Quebec is the subject of further technical studies.
https://piedmontlithium.com/wp-content/uploads/Presentation-November-2022-Master.pdf

Piedmont have an ever exciting pathway ahead and for now the Sayona Quebec offtake giving PLL the opportunity of a possible pre-payment and large annual revenue for the next few years (or more) is game changing. I am of the belief that when the time comes PLL will be looking at metso-outotec Hydroxide plans within Quebec and their first 113k offtake will be fed directly into this hydroxide plant. As Rodney has stated below IF PLL were to work out a plant with Sayona there would be compensation for the offtake (or a differing structure of the plant e.g. PLL 67%/ SYA 33%)

Regarding North Carolina this quote was of exciting interest:
"The recent endorsement of the North Carolina project by Senator Thom Tillis and Albemarle securing a US$150M DOE grant for spodumene concentration in North Carolina (Kings Mountain) bodes well for PLL getting over the
line."


Rodney Hooper says:

"RK Equity values the SYA Quebec 25% stake plus offtake agreement at ~US$1.8B based on a 22-year mine life and a long-term SC6 price of US$2050/t. This longterm SC6 price correlates to a long-term lithium chemical price of US$30,000/t. Based on these metrics, PLL is trading on an enterprise value ("EV") to an NPV ratio of 0.53x for its SYA Quebec stake. In our opinion, the successful restart of the NAL SC operation could trigger a takeover bid for PLL as the balance of asset ownership (Atlantic, Tennessee and North Carolina) plus shareholdings would represent free upside."

"A pre-feasibility study is underway at Sayona, Quebec, to assess the possibility of restarting lithium carbonate production at NAL. For PLL to participate in a downstream operation,the economics would need to be compelling relative to its existing JV and offtake arrangement. Sayona and PLL may enter into a restructured JV agreement to compensate for any changes made."

No company gives up $1.8 billion (with a B) of value for nothing.
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As a small footnote PLL holders I see no mileage in engaging the other side of the fence (I have learnt slowly!), they have been proven wrong continually through official announcements and responding to them is a waste of time as they make zero sense (top down). Our time has come:
Super excited for the coming 3-6 months, more than ever in my 5 year holding history in PLL. Good luck