Lithium stocks, like Piedmont Lithium (PLL) are still red-hot.
After a brief pullback from about $70 to $57.50, PLL is starting to push higher. Last trading at $62.37, we’d like to see it challenge $77 again shortly.
The company just announced it selected Etowah, Tennessee as the location of the Company’s planned 30,000 metric ton per year LHP-2 lithium hydroxide operation. With a planned completion and start of production in 2025, the Company believes Tennessee Lithium will be the largest lithium hydroxide processing facility constructed in the United States.
We also have to remember the supply-demand situation with lithium won’t improve any time soon. In fact, as supply falls, demand is on the rise. Even the International Energy Agency is warning that the, “The supply of critical minerals crucial for technologies such as wind turbines and electric vehicles will have to be ramped up over the next decades if the planet’s climate targets are to be met.”