We scour the net for great ideas, so you don't have to
Claim this username to collect earnings from this post, and the portfolio!
Jul 21, 2021
[1 min Read]
North Carolina based Piedmont Lithium who is looking to be the largest US based lithium supplier dropped 20% today after five of the seven members of the county's board of commissioners, who control zoning changes, said 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.
As someone who works in permitting and zoning this threat by the commissioners has no teeth. The 20% drop is a massive over reaction to this comment by the commissioners and presents a great opportunity to buy the dip.
Piedmont has stated that they have pushed meetings with the board several time in order to better understand the impacts of their mining operations. The comment by the commissioners is likely a show of force by the board because they feel Piedmont is not taking them seriously.
The CEO of Piedmont has a meeting with the board tonight where I except he will pay his respects to the board to smooth the issue out. I believe the stock will recover from the 20% by the end of the month.
Rising lithium prices compounded with the need of a US based lithium supply will help boost Piedmont and not only is this a good short term play, the longterm outlook is strong as well