Piedmont Lithium Announced That The Minerals Income Investment Fund Of Ghana Has Agreed To Invest $27.9 Million To Acquire A 6% Stake In The Ewoyaa Lithium Project And An Additional $5M In Piedmont Partner Atlantic Lithium
Portfolio Pulse from Benzinga Newsdesk
Piedmont Lithium announced that the Minerals Income Investment Fund (MIIF) of Ghana will invest $27.9 million to acquire a 6% stake in the Ewoyaa Lithium Project and an additional $5M in Piedmont's partner Atlantic Lithium. The funding will be used for project development costs, with MIIF also contributing 6% of exploration and development costs within Atlantic's Ghanaian portfolio on an ongoing basis.
September 11, 2023 | 11:57 am
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Piedmont Lithium's Ewoyaa Project receives a $27.9M investment from Ghana's MIIF, which will also invest $5M in Atlantic Lithium. This funding will support project development and exploration costs.
The investment from MIIF will provide significant funding for the development of the Ewoyaa Project and exploration costs within Atlantic's Ghanaian portfolio. This could potentially accelerate the project's timeline and increase the value of Piedmont Lithium's stake in the project, positively impacting the company's stock price in the short term.
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