Blue Orca short Piedmont Lithium, thinks Atlantic’s licenses won’t be ratified

Piedmont Lithium promises that its newly announced Tennessee conversion facility will produce battery grade lithium "under a sweetheart supply deal from a Ghana lithium mine" and "claims that revenues and profits will flow from Tennessee in 2025, but we believe that is a fantasy," Blue Orca said in a short report published on its website. The firm said: "Ultimately, the premise of Piedmont’s valuation is the Company’s claim that it will soon leverage spodumene from Ghana to become a fully integrated lithium hydroxide producer. We think not… We believe that Atlantic’s mining licenses will not be ratified because of corruption. Atlantic still needs Ghana’s Parliament to approve and ratify its mining licenses and permits in order to build the lithium mine." See today’s best-performing stocks on TipRanks >>

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