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• Revenue: $45.6 million for Q4, up from $27.7 million in the previous quarter.

• Realized Price per Metric Ton: $818 for the quarter; $909 on an SC6 equivalent basis.

• Net Loss: GAAP net loss of $11.1 million; adjusted net loss of $3.6 million.

• Cash Position: Ended the year with $87.8 million in cash, up from $64.4 million at the end of September 2024.

• Operating Cash Flows: $6 million for Q4; negative $43 million for the full year.

• Production: 51,000 tons produced in Q4; over 190,000 tons for the full year 2024.

• Shipments: 55,700 dry metric tons for Q4; 117,000 dry metric tons for 2024.

• Cost Savings: Achieved $14 million in annual run rate cost savings for 2024.

• Capital Expenditures: $11 million in 2024, down from $57 million in 2023.

• Joint Venture Investments: $26 million in 2024, down from $43 million in 2023.

• Warning! GuruFocus has detected 3 Warning Signs with PLL.

Release Date: February 20, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Piedmont Lithium Inc (NASDAQ:PLL) reported strong operational performance at North American Lithium, achieving record deliveries in Q4 2024.

• The company successfully reduced corporate expenses as part of its 2024 cost savings plan, achieving $14 million in total annual cost savings.

• Piedmont Lithium Inc (NASDAQ:PLL) announced a merger with its joint venture partner, Siona Mining, which is expected to create a larger, stronger company with significant synergies.

• The company achieved industry-leading price realizations for lithium, with a realized price of $909 per metric ton on an SC6 equivalent basis.

• Piedmont Lithium Inc (NASDAQ:PLL) ended the year with a strong cash position of $87.8 million, up from $64.4 million at the end of September 2024.

Negative Points

• Piedmont Lithium Inc (NASDAQ:PLL) reported a GAAP net loss of $11.1 million for Q4 2024, with an adjusted net loss of $3.6 million.

• The company faces potential challenges from tariffs on critical minerals, which could impact its shipment profile and customer decisions.

• The lithium market remains volatile, with uncertain short-term and medium-term outlooks, impacting investment decisions for new projects.

• Piedmont Lithium Inc (NASDAQ:PLL) is cautious about advancing its projects in the current market environment, potentially delaying development timelines.

• The merger with Siona Mining is subject to regulatory approvals and shareholder votes, which could impact the timeline and completion of the transaction.

Q & A Highlights

Q: Can you discuss the potential impacts of tariffs on your planned shipment profile, particularly regarding US domestic refiners versus other regions? A: The tariffs announced, which were deferred by 30 days, would impose a 10% tariff on critical minerals, paid by the American customer. We have one American customer who would be liable for these tariffs. However, given current price levels, a 10% tariff may not significantly impact their decision-making. For broader joint venture shipments and international customers, the tariffs would not apply as they do not involve the US.