Published on 23 Feb 2024 on GuruFocus.com via Yahoo Finance
Piedmont Lithium Inc (PLL) Reports Full Year 2023 Results: A Year of Operational Ramp-Up and ...
Revenue: Piedmont Lithium Inc reported $39.8 million in full-year revenue from sales of spodumene concentrate.Gross Profit: The company achieved a gross profit of $5.7 million for the year, despite settlement accruals in Q4.Balance Sheet: As of December 31, 2023, the company held $71.7 million in cash and cash equivalents.Net Loss: Piedmont Lithium Inc recorded a net loss of $21.8 million for the full year.Production and Sales: The company shipped 43.2 thousand dry metric tons (dmt) of spodumene concentrate in 2023.Strategic Developments: Progress in permitting and regulatory approvals in Ghana and North Carolina, and a shift in sales strategy towards multi-year contracts to reduce volatility.
Warning! GuruFocus has detected 1 Warning Sign with PLL.
On February 22, 2024, Piedmont Lithium Inc (NASDAQ:PLL) released its 8-K filing, disclosing its fourth quarter and full year financial results for 2023. The company, a key player in the lithium industry with a focus on the development of its Piedmont Lithium Project in the Carolina Tin-Spodumene Belt (TSB), reported significant operational progress and strategic advancements despite facing a challenging lithium price environment.