PLL 10-K Fiscal year ended June 30, 2021

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☒	ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

☐	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Delaware		36-4996461
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)

32 North Main Street, Suite 100 Belmont, North Carolina		28012
(Address of principal executive offices)		(Zip Code)

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common stock, par value $0.0001 per share		PLL		The Nasdaq Capital Market

Large accelerated filer	☐	Accelerated filer	☐
Non-accelerated filer	☒	Smaller reporting company	☒
Emerging growth company	☒

			Page
PART I
	Item 1.	Business	5
	Item 1A.	Risk Factors	18
	Item 1B.	Unresolved Staff Comments	30
	Item 2.	Properties	30
	Item 3.	Legal Proceedings	30
	Item 4.	Mine Safety Disclosures	31
PART II
	Item 5.	Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities	32
	Item 7.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	32
	Item 7A.	Quantitative and Qualitative Disclosures About Market Risk	38
	Item 8.	Financial Statements and Supplementary Data	39
	Item 9.	Changes in and Disagreements with Accountants on Accounting and Financial Disclosure	64
	Item 9A.	Controls and Procedures	64
	Item 9B.	Other Information	65
PART III
	Item 10.	Directors, Executive Officers and Corporate Governance	66
	Item 11.	Executive Compensation	69
	Item 12.	Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters	77
	Item 13.	Certain Relationships and Related Transactions, and Director Independence	79
	Item 14.	Principal Accounting Fees and Services	80
PART IV
	Item 15.	Exhibits, Financial Statement Schedules	81
	Item 16.	Form 10-K Summary	82
SIGNATURES			83

Item 1.

Business

•

continuing to secure additional properties within the Carolina Tin-Spodumene Belt to undertake additional exploration;

•

undertaking further technical studies to assess the economic potential of the Carolina Lithium Project and defining a lithium reserve base, including further metallurgical studies and feasibility studies;

•

undertaking discussions with potential lithium offtake parties for future sale of lithium products;

•

completing permitting and zoning activities required to commence mining and processing operations for the Carolina Lithium Project;

•

completing required financing activities;

•

completing construction for our lithium mining and processing activities, globally;

•

commencing lithium mining and processing activities to supply electric vehicle and battery storage markets; and

•

commencing byproduct manufacturing and sales operations for our Carolina Lithium Projects.

•

National Environmental Protection Act (“NEPA”), which requires careful evaluation of the environmental impacts of mining and lithium manufacturing operations that require federal approvals;

•

Clean Air Act (“CAA”) and its amendments, which governs air emissions;

•

Clean Water Act (“CWA”), which governs discharges to and excavations within the waters of the United States;

•

Resource Conservation and Recovery Act (“RCRA”), which governs the management of solid waste;

•

Comprehensive Environmental Response, Compensation, and Liability Act (“CERCLA”), which imposes liability where hazardous substances have been released into the environment (commonly known as Superfund); and

•

Federal Mine Safety and Health Act, which established the primary safety and health standards regarding working conditions of employees engaged in mining, related operations, and preparation and milling of the minerals extracted, as well as the Occupation Safety and Health Act, which regulates the protection of the health and safety of workers in lithium manufacturing operations and to the extent such protection is not already addressed by the Federal Mine Safety and Health Act.

•

the last day of the fiscal year during which we have total annual gross revenues of $1,070,000,000 (as such amount is indexed for inflation every five years by the SEC) or more;

•

the last day of our fiscal year following the fifth anniversary of the completion of our first sale of common equity securities pursuant to an effective registration statement under the Securities Act, which we expect to be June 30, 2024;

•

the date on which we have, during the previous three-year period, issued more than $1,070,000,000 in non-convertible debt; or

•

the date on which we are deemed to be a “large accelerated filer,” as defined in Rule 12b-2 of the Exchange Act, which would occur if the market value of shares of our common stock that are held by non-affiliates exceeds $700,000,000 as of the last day of our most recently completed second fiscal quarter.

Item 1A.

Risk Factors.

•

the discovery of unusual or unexpected geological formations;

•

accidental fires, floods, earthquakes or other natural disasters;

•

unplanned power outages and water shortages;

•

controlling water and other similar mining hazards;

•

operating labor disruptions and labor disputes;

•

the ability to obtain suitable or adequate machinery, equipment or labor;

•

our liability for pollution or other hazards; and

•

other known and unknown risks involved in the conduct of exploration and operation of mines.

•

a significant, prolonged decrease in the market price of lithium;

•

difficulty in marketing and/or selling lithium;

•

significantly higher than expected capital costs to construct our mine;

•

significantly higher than expected extraction costs;

•

significantly lower than expected lithium extraction;

•

significant delays, reductions or stoppages of lithium extraction activities; and

•

the introduction of significantly more stringent regulatory laws and regulations.

•

adverse economic conditions;

•

adverse general capital market conditions;

•

poor performance and health of the lithium or mining industries in general;

•

bankruptcy or financial distress of unrelated lithium companies or marketers;

•

significant decrease in the demand for lithium; or

•

adverse regulatory actions that affect our exploration and construction plans or the use of lithium generally.

•

our ability to obtain leases or options on properties;

•

our ability to identify and acquire new exploratory prospects;

•

our ability to develop existing prospects;

•

our ability to continue to retain and attract skilled personnel;

•

our ability to maintain or enter into new relationships with project partners and independent contractors;

•

the results of our exploration programs;

•

the market price for lithium;

•

our access to capital; and

•

our ability to enter into agreements for the sale of lithium.

•

government regulations and automakers’ responses to those regulations;

•

tax and economic incentives;

•

rates of consumer adoption, which is driven in part by perceptions about electric vehicle features (including range per charge), quality, safety, performance, cost and charging infrastructure;

•

competition, including from other types of alternative fuel vehicles, plug-in hybrid electric vehicles, and high fuel-economy internal combustion engine vehicles;

•

volatility in the cost of battery materials, oil and gasoline;

•

rates of customer adoption of higher performance lithium compounds; and

•

rates of development and adoption of next generation high nickel battery technologies.

•

actual or expected fluctuations in our prospects or operating results;

•

changes in the demand for, or market price of, lithium;

•

additions to or departures of our key personnel;

•

changes or proposed changes in laws and regulations;

•

changes in trading volume of our common stock on Nasdaq;

•

sales or perceived potential sales of our common stock by us, our directors, senior management or our stockholders in the future;

•

announcement or expectation of additional financing efforts;

•

conditions in the financial markets or changes in general economic and political conditions and events;

•

market conditions in the broader stock market, or in our industry in particular;

•

introduction of new products and services by us or our competitors;

•

issuance of new or changed securities analysts’ reports or recommendations;

•

litigation and governmental investigations; and

•

changes in investor perception of our market positions based on third-party information.

•

the last day of the fiscal year during which we have total annual gross revenues of $1,070,000,000 (as such amount is indexed for inflation every five years by the SEC) or more;

•

the last day of our fiscal year following the fifth anniversary of the completion of our first sale of common equity securities pursuant to an effective registration statement under the Securities Act;

•

the date on which we have, during the previous three-year period, issued more than $1,070,000,000 in non-convertible debt; or

•

the date on which we are deemed to be a “large accelerated filer,” as defined in Rule 12b-2 of the Exchange Act, which would occur if the market value of shares of our common stock that are held by non-affiliates exceeds $700,000,000 as of the last day of our most recently completed second fiscal quarter.

•

a staggered board and restrictions on the ability of our stockholders to fill a vacancy on the Board;

•

the authorization of undesignated preferred stock, the terms of which may be established and shares of which may be issued without stockholder approval;

•

advance notice requirements for stockholder proposals;

•

a requirement that, except as otherwise provided for or fixed with respect to actions required or permitted to be taken by holders of preferred stock, no action that is required or permitted to be taken by the stockholders may be effected by consent of stockholders in lieu of a meeting of stockholders;

•

permit the Board to establish the number of directors;

•

a provision that the Board is expressly authorized to adopt, amend or repeal our amended and restated bylaws;

•

a provision that stockholders can remove directors only for cause and only upon the approval of not less than 66 2 / 3 of all outstanding shares of our voting stock;

•

a requirement that the approval of not less than 66 2 / 3 of all outstanding shares of our voting stock to adopt, amend or repeal our bylaws and specific provisions of our certificate of incorporation; and

•

limit the jurisdictions in which certain stockholder litigation may be brought.

Item 1B.

Unresolved Staff Comments.

Item 2.

Properties.

Item 3.

Legal Proceedings.

Item 4.

Mine Safety Disclosures.

Item 5.

Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.

Item 6.

Not Required.

Item 7.

Management’s Discussion and Analysis of Financial Condition and Results of Operations.

		Total				Less than 1 year				1–3 years				3-5 years				Thereafter
Contractual obligations
Loans and borrowings		$	2,311,546			$	1,085,142			$	1,186,469			$	39,935			$	—
Lease liabilities			140,435				140,435				—				—				—
		$	2,451,981			$	1,225,577			$	1,186,469			$	39,935			$	—

Item 7A.

Quantitative and Qualitative Disclosures About Market Risk.

Item 8.

Financial Statements and Supplementary Data.

	Page
FINANCIAL INFORMATION
Report of Independent Registered Public Accounting Firm	40
Consolidated Balance Sheets as of June 30, 2021 and 2020	41
Consolidated Statements of Operations for the Years Ended June 30, 2021 and 2020	42
Consolidated Statements of Comprehensive Loss for the Years Ended June 30, 2021 and 2020	43
Consolidated Statements of Cash Flows for the Years Ended June 30, 2021 and 2020	44
Consolidated Statements of Changes in Equity for June 30, 2021 and 2020	45
Notes to the Consolidated Financial Statements	46

2.	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Assets		Years
Office equipment		3 —7
Plant equipment		3 —15
Vehicles		3 —7

•

assets and liabilities were translated at year-end exchange rates prevailing at that reporting date;

•

income and expenses were translated at average exchange rates for the period; and

•

equity transactions including retained earnings/accumulated deficit were translated at the exchange rates prevailing at the date of the transaction.

•

we elected to utilize the package of transition practical expedients, which permitted us: (i) to not reassess whether any expired or existing contracts are or contain a lease, (ii) to not reassess our historical lease classifications for existing leases, and (iii) to not reassess initial direct costs for existing leases;

•

for contracts in which we are a lessee, we have elected for each of our asset classes to account for each lease component and its associated non-lease components as a single lease component;

•

a practical expedient to use hindsight in assessing the lease term and impairment; and

•

we elected to utilize the short-term lease exemption for lease contracts with a term of 12 months or less; furthermore, these contracts are excluded from the measurement of our right-of-use assets and lease liabilities and are recognized in earnings on a straight-line basis over their lease term.

3.	EXPLORATION AND EVALUATION ASSETS

		June 30,
		2021				2020
Beginning balance		$	7,720,957			$	2,265,121
Land acquisitions through cash payments			17,898,705				2,747,784
Land acquisitions through seller financed loans			978,141				2,708,052
Ending balance		$	26,597,803			$	7,720,957

			June 30,
			2021				2020
Land			$	688,829			$	688,829
Office Equipment				72,104				52,068
Property, plant, and equipment, gross				760,932				740,897
Accumulated depreciation and amortization				(35,069	)			(23,480	)
Property, plant, and equipment, net			$	725,863			$	717,417

5.	EQUITY INVESTMENTS IN UNCONSOLIDATED AFFILIATES

(i)

acquire 442,441,606 ordinary shares in Sayona for $4.9 million;

(ii)

acquire an 8% convertible note in Sayona for $6.2 million, which was subsequently converted into equity resulting in the Company acquiring 557,941,415 ordinary shares of Sayona; and

(iii)

enter into a supply agreement with Sayona Quebec Inc, (“Sayona Quebec”) to purchase the greater of 60,000 metric tons per year or 50% of Sayona Quebec’s spodumene concentrate production at market prices on a life-of-mine basis; or, if Sayona Quebec successfully acquired NAL, a right to purchase the greater of 113,000 metric tons per year or 50% of Sayona Quebec’s spodumene concentrate production at market prices on a life-of-mine basis from the combined assets of the Authier Project and NAL.

(1)

The carrying amount of the equity method investment for Sayona Mining Limited includes a loss of $64,626 from equity investments in unconsolidated affiliates, net of tax.

		June 30, 2021
Entities
Sayona Mining Limited		$	64,626
Sayona Quebec Inc.			—
Total		$	64,626

		2021
From inception through March 31,
Other income		$	74,379
Net loss from operations			(324,754	)
Other comprehensive loss			(157,224	)
Comprehensive loss			(481,979	)
As of March 31,
Current assets			9,710,517
Non-current assets			17,718,789
Current liabilities			4,746,137
Non-current liabilities			24,285

6.	TRADE AND OTHER PAYABLES

		June 30, 2021
2022		$	1,085,142
2023			641,955
2024			544,514
2025			39,935
Total		$	2,311,546

		As of and for the Years Ended June 30,
		2021				2020
Assets
Right-of-use assets - operating lease		$	139,797			$	268,610
Liabilities
Current			140,435				135,947
Non-current			—				133,663
Operating lease liabilities			140,435				269,610
Statements of Operations
Operating lease cost			165,456				156,456
Short-term lease cost			78,583				32,673
Sublease income (1)			120,752				29,906
Other Information
Right-of-use assets obtained in exchange for new operating lease liabilities			14,921				391,549
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases			165,817				152,251
Weighted-average remaining lease term (in months)			11.05				22.96
Weighted-average discount rate			10.00	%			10.00	%

		June 30, 2021
2022		$	147,506
Total future minimum lease payments			147,506
Interest included within lease payments			(7,071	)
Total operating lease liabilities		$	140,435

		Years Ended June 30,
		2021				2020
Exploration and evaluation expenses		$	495,031			$	171,151
General and administrative expenses			824,341				299,788
Total stock-based compensation expense (1)		$	1,319,372			$	470,938

		Years Ended June 30,
		2021			2020
Assumptions:
Expected life of options (in years)		5.3 - 6.3			2.7 - 2.8
Risk-free interest rate		0.9% - 1.2%			0.3% - 0.5%
Assumed volatility		50.0%			70.0%
Expected dividend rate		0.0%			0.0%

		Shares				Weighted- Average Grant- Date Fair Value
Unvested at June 30, 2020			—			$	—
Granted			36,745				64.08
Vested			—				—
Forfeited			—				—
Unvested at June 30, 2021			36,745			$	64.08

•

30,000 Performance Rights subject to the “Integrated Feasibility Study Milestone,” expiring December 31, 2021; and

•

30,000 Performance Rights subject to the “Construction Milestone,” expiring December 31, 2022.

		Shares				Weighted- Average Grant- Date Fair Value
Unvested at June 30, 2020			50,000			$	5.20
Granted			10,000				6.50
Vested			—				—
Forfeited			—				—
Unvested at June 30, 2021			60,000			$	5.42

		Years Ended June 30,
		2021				2020
Loss before income taxes and equity in net loss of unconsolidated investments:
Domestic		$	(17,601,419	)		$	(5,424,724	)
Foreign			(2,392,429	)			(454,427	)
Total		$	(19,993,848	)		$	(5,879,151	)

		Years Ended June 30,
		2021				2020
Pre-tax loss before equity in net income (loss) of unconsolidated affiliates		$	(19,993,848	)		$	(5,879,151	)
Benefit at statutory rate (21%)			(4,198,708	)			(1,234,622	)
Foreign rate differential			(22,160	)			(13,801	)
Non-deductible transaction costs			299,965				—
Permanent items			141,223				63,229
State taxes			(985,983	)			(338,078	)
Change in valuation allowance			4,765,663				1,523,272
Income tax expense/(benefit)		$	—			$	—

		June 30,
		2021				2020
Beginning balance		$	8,589,012			$	7,065,740
Additions			4,765,663				1,523,272
Deductions			—				—
Ending balance		$	13,354,675			$	8,589,012

		June 30,
		2021				2020				Begin to expire
U.S. - Federal		$	2,933,123			$	1,504,314			2037 — Indefinite
U.S. - State			468,309				196,094			2032
Australia - Federal			2,458,482				2,377,520			Indefinite
Australia - Capital			214,872				214,872			Indefinite
Total		$	6,074,775			$	4,292,799

Item 9.

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.

Item 9A.

Controls and Procedures.

Item 9B.

Other Information.

•

our Certificate of Incorporation specifies that the number of directors shall be determined from time to time by the Board, which currently has set the number of directors at six;

•

a majority of the Board must be independent within the meaning of the Nasdaq listing standards and each of our committees is to be comprised of independent directors;

•

the Chair of the Board should be an independent director who satisfies the criteria for independence recommended by the ASX Corporate Governance Principles and Recommendations; and

•

the Board should collectively have the appropriate level of personal qualities, skills, experience and time commitment to properly fulfill its responsibilities or have ready access to such skills where they are not available.

•

develop and recommend to the Board criteria for identifying and evaluating director candidates and periodically review these criteria and recommend changes to the Board as appropriate;

•

annually evaluate the composition of the Board to assess whether the skills, experience, characteristics and other criteria established by the Board are currently represented on the Board as a whole and with respect to each individual director, and to assess the criteria that may be needed in the future;

•

identify, review the qualifications of, and recruit director candidates for election to the Board;

•

assess the qualifications, contributions and independence of incumbent directors in determining whether to recommend them for reelection to the Board;

•

discuss succession planning for the Board and key leadership roles on the Board and its committees;

•

establish procedures for the consideration of director candidates recommended for the Nominating and Corporate Governance Committee’s consideration by the Company’s stockholders;

•

recommend to the Board the Company’s director candidates for election or reelection to the Board at each annual meeting of stockholders;

•

recommend to the Board director candidates to be elected by the Board as necessary to fill vacancies and newly created directorships;

•

develop and recommend to the Board a set of corporate governance principles, and annually review these principles and recommend changes to the Board as appropriate;

•

periodically review the Board’s leadership structure and recommend changes to the Board as appropriate;

•

make recommendations to the Board concerning the size, structure, composition and functioning of the Board and its committees;

•

oversee the orientation process for new directors and ongoing education for directors;

•

oversee the evaluation of the Board and its committees; and

•

annually evaluate the performance of the Nominating and Corporate Governance Committee and the adequacy of the Nominating and Corporate Governance Committee’s charter and recommend changes to the Board as appropriate.

	Name and Principal Position	Year		Salary ($)			Stock Awards ($)			Option Awards ($)			Non-Equity Incentive Plan Compensation ($)			All Other Compensation ($)			Total (1) ($)
	Keith Phillips	2021		281,250			327,640			523,266			172,500			63,511			1,368,167
	President and Chief Executive Officer	2020		250,000			81,228			74,266			100,000			41,954			547,448
	Patrick Brindle	2021		227,500			137,580			219,766			70,900			68,312			724,058
	Executive Vice President and Chief Development Officer	2020		210,000			73,106			60,341			50,000			8,400			401,847
	Lamont Leatherman	2021		215,000			65,640			104,644			50,000			20,437			455,621
	Vice President and Chief Geologist	2020		210,000			81,228			74,266			—			—			365,494

•

we are currently focused on identifying and acquiring suitable resource projects and undertaking exploration, appraisal and development activities;

•

risks associated with small cap resource companies whilst exploring and developing projects; and

•

other than profit which may be generated from asset sales, we do not expect to be undertaking profitable operations until sometime after the commencement of commercial production on any of our projects.

•

Alignment with stockholder interests —Executives should be compensated through pay elements (base salaries and short- and long-term equity incentives) designed to create stockholder value.

•

Individual performance and contribution to the Company —Our program must provide sufficient flexibility to allow for the recognition of individual differences in performance.

•

Proper balance of risk to reward —Decisions about compensation should be guided by best-practice governance standards and rigorous processes that encourage prudent decision-making.

•

Commitment to culture —Our program must recognize the importance of building culture and teamwork as a significant long-term goal of the Company.

	Pay Element		How It’s Paid		Purpose
	Base Salary		Cash (Fixed)		Provide a competitive base salary rate relative to similar positions in the market and enable the Company to attract and retain critical executive talent.
	Annual Incentives		Cash (Variable)		Reward executives for delivering on annual strategic objectives that drive our business strategy and contribute to the creation of stockholder value.
	Long-Term Incentives		Equity (Variable)		Provide incentives for executives to execute on longer-term goals that drive the creation of stockholder value and support the Company’s leadership retention strategy.

			Option Awards												Stock Awards
	Name		Number of securities underlying unexercised options exercisable (#)				Number of securities underlying unexercised options unexercisable (#)				Option exercise price ($)		Option expiration date		Number of shares or units of stock that have not vested (#)				Market value of shares of units of stock that have not vested ($)
	Keith Phillips			60,000				—			12.38		12/31/2022
																15,000			81,228
				30,000				—			18.57		6/10/2022
																5,344			327,640
								10,786			65.00		5/19/2031
	Patrick Brindle			15,000				—			12.38		12/31/2022
																15,000			73,106
								4,530			65.00		5/19/2031
																2,244			137,580
	Lamont Leatherman			30,000				—			12.38		12/31/2022
																15,000			81,228
								2,157			65.00		5/19/2031
																1,069			65,540

Name		Fees Earned or Paid in Cash ($)			Stock Awards ($)				Option Awards ($)				All Other Compensation ($)			Total ($)
Ian Middlemas (1)		12,771				—				—			—			12,771
Anastasios Arima (2)		88,333				—				—			12,177			100,510
Jorge Beristain		40,000				—				—			—			40,000
Levi Mochkin (3)		36,928				—				—			3,508			40,436
Jeffrey Armstrong		30,000				105,000				—			—			135,000
Todd Hannigan (4)		16,617				70,000				—			—			86,617
Claude Demby (5)		7,875				—				—			—			7,875
Susan Jones (6)		7,000				—				—			—			7,000

(1)	Mr. Middlemas retired from the Board on December 9, 2020.

(2)	Mr. Arima received $12,177 as other compensation consisting of $4,041 for 401(k) Plan employer contributions and $8,136 for employer paid insurance premiums. Mr. Arima retired from the Board on June 1, 2021.

(3)	Mr. Mochkin received $3,508 as other compensation consisting of employer contributions related to superannuation in Australia. Mr. Mochkin retired from the Board on June 1, 2021.

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(1)

Beneficial ownership is determined according to the rules of the SEC and generally means that a person has beneficial ownership of a security if he, she or it possesses sole or shared voting or investment power of that security, including options and performance rights that are currently exercisable or exercisable within 60 days of September 16, 2021. Shares of our common stock subject to options and performance rights currently exercisable or exercisable within 60 days of September 16, 2021 are deemed to be outstanding for computing the percentage ownership of the person holding these options and/or performance rights and the percentage ownership of any group of which the holder is a member but are not deemed outstanding for computing the percentage of any other person.

(2)	Includes options to purchase 90,000 shares (60,000 exercisable for $12.38 each on or before December 31, 2022 and 30,000 exercisable for $18.57 each on or before July 10, 2022).

(3)	Includes options to purchase 15,000 shares (exercisable for $12.38 each on or before December 31, 2022).

(4)	Includes options to purchase 30,000 shares (exercisable for $12.38 each on or before December 31, 2022).

•

enterprises that directly or indirectly through one or more intermediaries, control or are controlled by, or are under common control with, us;

•

associates, meaning unconsolidated enterprises in which we have a significant influence or which have significant influence over us;

•

individuals owning, directly or indirectly, an interest in the voting power of us that gives them significant influence over our us, and close members of any such individual’s family;

•

key management personnel, that is, those persons having authority and responsibility for planning, directing and controlling the activities of ours, including directors and senior management of us and close members of such individuals’ families; and

•

enterprises in which a substantial interest in the voting power is owned, directly or indirectly, by any person described in (c) or (d) or over which such a person is able to exercise significant influence, including enterprises owned by directors or major stockholders of us and enterprises that have a member of key management in common with us.

Item 15.

Exhibits, Financial Statement Schedules.

(a)

The following documents are filed as a part of this report:

(1)

Financial Statements

(2)

Financial Statement Schedules

(3)

Exhibits:

*	Filed herewith.

+	Indicates management contract or compensatory plan.

Item 16.

Form 10-K Summary.

	Piedmont Lithium Inc.
Date: September 24, 2021	By:	/s/ Keith Phillips
		Keith Phillips
		President and Chief Executive Officer (Principal Executive Officer)

Name		Title		Date
/s/ Keith Phillips		President and Chief Executive Officer and Director		September 24, 2021
Keith Phillips		(Principal Executive Officer)
/s/ Michael White		Chief Financial Officer		September 24, 2021
Michael White		(Principal Financial Officer and Principal Accounting Officer)
/s/ Jeffrey Armstrong		Chairman and Director		September 24, 2021
Jeffrey Armstrong
/s/ Jorge Beristain		Director		September 24, 2021
Jorge Beristain
/s/ Claude Demby		Director		September 24, 2021
Claude Demby
/s/ Todd Hannigan		Director		September 24, 2021
Todd Hannigan
/s/ Susan Jones		Director		September 24, 2021
Susan Jones