Piedmont Lithium (PLL) 10-K 1 Mar 23 2022 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Dec. 31, 2022	Feb. 24, 2023	Jun. 30, 2022
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-38427
Entity Registrant Name	Piedmont Lithium Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	36-4996461
Entity Address, Address Line One	42 E Catawba Street
Entity Address, Address Line Two
Entity Address, City or Town	Belmont
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	28012
City Area Code	704
Local Phone Number	461-8000
Title of 12(b) Security	Common stock, $0.0001 par value per share
Trading Symbol	PLL
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 646,432,242
Entity Common Stock, Shares Outstanding		19,182,063
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Entity Central Index Key	0001728205

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2022
Audit Information [Abstract]
Auditor Firm ID	34
Auditor Name	DELOITTE & TOUCHE LLP
Auditor Location	Charlotte, North Carolina

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Assets
Cash and cash equivalents	$ 99,246,963	$ 64,244,983
Other current assets	2,611,841	2,514,602
Total current assets	101,858,804	66,759,585
Property, plant and mine development, net	71,540,798	40,055,354
Other non-current assets	18,873,679	4,561,122
Equity method investments in unconsolidated affiliates	95,647,802	58,872,710
Total assets	287,921,083	170,248,771
Liabilities and Stockholders’ Equity
Accounts payable and accrued expenses	12,861,514	6,688,242
Current portion of long-term debt	425,187	762,189
Other current liabilities	124,464	99,587
Total current liabilities	13,411,165	7,550,018
Long-term debt, net of current portion	163,425	914,147
Operating lease liabilities, net of current portion	1,176,709	0
Deferred tax liabilities	2,881,123	0
Total liabilities	17,632,422	8,464,165
Commitments and contingencies (Note 14)
Stockholders’ equity:
Common stock; $0.0001 par value, 100,000,000 shares authorized; 18,073,367 and 15,894,395 shares issued and outstanding at December 31, 2022, and December 31, 2021, respectively	1,807	1,589
Additional paid-in capital	381,241,814	255,131,836
Accumulated deficit	(105,657,674)	(92,683,000)
Accumulated other comprehensive loss	(5,297,286)	(665,819)
Total stockholders’ equity	270,288,661	161,784,606
Total liabilities and stockholders’ equity	$ 287,921,083	$ 170,248,771
Common stock, shares outstanding (in shares)	18,073,367	15,894,395
Common stock, shares issued (in shares)	18,073,367	15,894,395

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2022	Dec. 31, 2021	May 17, 2021	May 16, 2021
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	18,073,367	15,894,395
Common stock, shares outstanding (in shares)	18,073,367	15,894,395	15,764,533	1,574,597,320

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	6 Months Ended	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2022	Jun. 30, 2021	Jun. 30, 2020
Operating expenses:
Exploration and mine development costs	$ 9,628,803	$ 1,939,498	$ 10,874,502	$ 3,125,784
General and administrative expenses	10,956,005	29,448,567	8,861,454	3,440,161
Total operating expenses	20,584,808	31,388,065	19,735,956	6,565,945
Loss from equity method investments in unconsolidated affiliates	(642,135)	(8,352,290)	(64,626)	0
Loss from operations	(21,226,943)	(39,740,355)	(19,800,582)	(6,565,945)
Other income (expense):
Interest income	0	1,153,012	3,378	161,530
Interest expense	(112,869)	(115,029)	(271,264)	(107,569)
(Loss) gain from foreign currency exchange	(8,543)	(87,931)	74,620	632,832
Gain on dilution of equity method investments in unconsolidated affiliates	0	28,954,893	0	0
Total other income (expense)	(121,412)	29,904,945	(193,266)	686,793
Loss before taxes	(21,348,355)	(9,835,410)	(19,993,848)	(5,879,152)
Income tax expense	0	3,139,264	0	0
Net loss	$ (21,348,355)	$ (12,974,674)	$ (19,993,848)	$ (5,879,152)
Basic net loss per weighted-average share (in dollars per share)	$ (1.35)	$ (0.74)	$ (1.48)	$ (0.71)
Diluted net loss per weighted-average share (in dollars per share)	$ (1.35)	$ (0.74)	$ (1.48)	$ (0.71)
Basic weighted-average number of shares outstanding (in shares)	15,868,521	17,517,678	13,551,150	8,283,567
Diluted weighted-average number of shares outstanding (in shares)	15,868,521	17,517,678	13,551,150	8,283,567

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($)	6 Months Ended		12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2022		Jun. 30, 2021	Jun. 30, 2020
Statement of Comprehensive Income [Abstract]
Net loss	$ (21,348,355)	$ (5,784,838)	$ (12,974,674)		$ (19,993,848)	$ (5,879,152)
Other comprehensive income (loss):
Foreign currency translation adjustments	0		0		0	(499,399)
Equity method investments adjustments in other comprehensive income (loss), net of tax	162,034		(4,631,467)	[1]	(31,288)	0
Other comprehensive income (loss), net of tax	162,034		(4,631,467)		(31,288)	(499,399)
Comprehensive loss	$ (21,186,321)		$ (17,606,141)		$ (20,025,136)	$ (6,378,551)
[1]Equity method investments income in other comprehensive income (loss) is presented net of tax benefit of 258,141 for the twelve months ended December 31, 2022. We did not reflect a tax expense during the six months ended December 31, 2021 and years ended June 30, 2021 and 2020, because we had a full tax valuation allowance in impacted jurisdictions during these periods.

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	6 Months Ended	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2022	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities:
Net loss	$ (21,348,355)	$ (12,974,674)	$ (19,993,848)	$ (5,879,152)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation expense	2,003,116	3,489,965	1,319,372	470,939
Loss from equity method investments in unconsolidated affiliates	642,135	8,352,290	64,626	0
Gain on dilution of equity method investments in unconsolidated affiliates	0	(28,954,893)	0	0
Deferred taxes	0	3,139,264	0	0
Depreciation	8,697	73,697	11,589	13,249
Noncash lease expense	78,878	106,728	143,734	122,759
Loss on sale of property, plant and mine development	0	11,542	0	0
Unrealized loss on investment	0	29,676	0	0
Changes in operating assets and liabilities:
Other assets	(717,101)	(200,730)	(1,385,134)	(29,736)
Operating lease liabilities	(81,005)	(97,460)	(144,096)	(118,555)
Accounts payable	(1,299,090)	1,413,406	1,770,570	(642,293)
Accrued expenses and other current liabilities	3,038,552	(837,338)	1,955,933	(269,512)
Net cash used in operating activities	(17,674,173)	(26,448,527)	(16,257,254)	(6,332,301)
Cash flows from investing activities:
Capital expenditures	(12,499,383)	(25,731,907)	(18,207,381)	(3,452,254)
Advances on Ewoyaa Lithium Project (Ghana)	(4,310,173)	(13,006,267)	0	0
Purchases of equity investments in unconsolidated affiliates	(43,603,824)	(21,062,097)	(16,358,412)	0
Net cash used in investing activities	(60,413,380)	(59,800,271)	(34,565,793)	(3,452,254)
Cash flows from financing activities:
Proceeds from issuances of common stock, net of issuance costs	0	122,059,476	174,964,132	25,108,987
Proceeds from exercise of stock options	557,100	279,026	349,047	0
Principal payments on long-term debt	(876,212)	(1,087,724)	(695,572)	(390,434)
Net cash provided by (used in) financing activities	(319,112)	121,250,778	174,617,607	24,718,553
Net increase (decrease) in cash	(78,406,665)	35,001,980	123,794,560	14,933,998
Cash and cash equivalents at beginning of period	142,651,648	64,244,983	18,857,088	4,432,150
Effect of exchange rate changes on cash	0	0	0	(509,060)
Cash and cash equivalents at end of period	64,244,983	99,246,963	142,651,648	18,857,088
Supplemental disclosure of cash flow information:
Noncash capital expenditures in accounts payable and accrued expenses	0	5,557,047	0	0
Cash paid for interest	112,869	115,028	289,125	157,271
Capitalized stock-based compensation	0	281,729	0	0
Noncash acquisitions of mining interests financed by sellers	$ 241,002	$ 0	$ 689,500	$ 2,708,052

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($)	Total		Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Accumulated Deficit Cumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Loss
Beginning balance (in shares) at Jun. 30, 2019				6,707,363
Beginning balance at Jun. 30, 2019	$ 4,598,715		$ 3,205	$ 671	$ 51,140,336	$ (46,245,126)	$ 3,205	$ (297,166)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, net (in shares)				3,535,000
Issuance of common stock, net	25,108,988			$ 354	25,108,634
Stock-based compensation, net of forfeitures	$ 470,939				470,939
Shares issued for exercise/vesting of stock-based compensation awards (in shares)	315,000			89,399
Expiration of stock options	$ 0				(531,934)	531,934
Conversion of performance rights (in shares)				25,000
Foreign currency translation adjustments	(499,399)							(499,399)
Equity method investments adjustments in other comprehensive income (loss), net of tax	0
Net loss	$ (5,879,152)					(5,879,152)
Accounting Standards Update [Extensible Enumeration]	Accounting Standards Update 2016-02 [Member]
Ending balance (in shares) at Jun. 30, 2020				10,356,762
Ending balance at Jun. 30, 2020	$ 23,803,296			$ 1,025	76,187,975	(51,589,139)		(796,565)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, net (in shares)				5,250,000
Issuance of common stock, net	174,964,132			$ 525	174,963,607
Stock-based compensation, net of forfeitures	$ 1,319,372				1,319,372
Shares issued for exercise/vesting of stock-based compensation awards (in shares)	15,000			152,771
Shares issued for exercise/vesting of stock-based compensation awards	$ 349,047				349,047
Expiration of stock options	0				(248,342)	248,342
Conversion of performance rights (in shares)				5,000
Foreign currency translation adjustments	0
Equity method investments adjustments in other comprehensive income (loss), net of tax	(31,288)							(31,288)
Net loss	(19,993,848)					(19,993,848)
Ending balance (in shares) at Jun. 30, 2021				15,764,533
Ending balance at Jun. 30, 2021	180,410,711			$ 1,550	252,571,659	(71,334,645)		(827,853)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation, net of forfeitures	$ 2,003,116				2,003,116
Shares issued for exercise/vesting of stock-based compensation awards (in shares)	120,000			104,862
Shares issued for exercise/vesting of stock-based compensation awards	$ 557,100			$ 10	557,090
Conversion of performance rights (in shares)				25,000
Conversion of performance rights				$ 29	(29)
Foreign currency translation adjustments	0
Equity method investments adjustments in other comprehensive income (loss), net of tax	162,034							162,034
Net loss	(21,348,355)					(21,348,355)
Ending balance (in shares) at Dec. 31, 2021				15,894,395
Ending balance at Dec. 31, 2021	161,784,606			$ 1,589	255,131,836	(92,683,000)		(665,819)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, net (in shares)				2,012,500
Issuance of common stock, net	122,059,476			$ 201	122,059,275
Stock-based compensation, net of forfeitures	$ 3,771,694				3,771,694
Shares issued for exercise/vesting of stock-based compensation awards (in shares)	182,500			166,472
Shares issued for exercise/vesting of stock-based compensation awards	$ 279,026			$ 17	279,009
Foreign currency translation adjustments	0
Equity method investments adjustments in other comprehensive income (loss), net of tax	(4,631,467)	[1]						(4,631,467)
Net loss	(12,974,674)					(12,974,674)
Ending balance (in shares) at Dec. 31, 2022				18,073,367
Ending balance at Dec. 31, 2022	$ 270,288,661			$ 1,807	$ 381,241,814	$ (105,657,674)		$ (5,297,286)
[1]Equity method investments income in other comprehensive income (loss) is presented net of tax benefit of 258,141 for the twelve months ended December 31, 2022. We did not reflect a tax expense during the six months ended December 31, 2021 and years ended June 30, 2021 and 2020, because we had a full tax valuation allowance in impacted jurisdictions during these periods.

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Parenthetical) - USD ($)	6 Months Ended	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2022	Jun. 30, 2021	Jun. 30, 2020
Statement of Comprehensive Income [Abstract]
OCI, equity method investment, tax expense (benefit)	$ 0	$ (258,141)	$ 0	$ 0

DESCRIPTION OF COMPANY

DESCRIPTION OF COMPANY	12 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF COMPANY	DESCRIPTION OF COMPANY Nature of Business Piedmont Lithium Inc. (“Piedmont Lithium,” “we,” “our,” “us,” or “Company”) is a United States (“U.S.”) based, development stage company advancing a multi-asset, integrated lithium business in support of a clean energy economy and America’s national energy security. We plan to supply lithium hydroxide to the electric vehicle and battery manufacturing supply chains in North America by processing spodumene concentrate produced from assets we own or have an economic interest. Our projects include our wholly-owned, proposed Tennessee Lithium Project (“Tennessee Lithium”) and our wholly-owned, proposed, fully-integrated Carolina Lithium Project (“Carolina Lithium”) in the southeastern U.S. and strategic investments in lithium assets in Canada and Ghana. Spodumene concentrate production is expected to come online in Quebec in the first half of 2023 and first commercial shipments are anticipated in the third quarter of 2023. Subject to obtaining permits, approvals, and financing, we plan to obtain spodumene concentrate through our offtake agreement in Ghana (2024-2025), produce lithium hydroxide in Tennessee (2025-2026), and to develop spodumene concentrate and produce lithium hydroxide in North Carolina (2026-2027). Our investments in Canada should provide the opportunity for near-term revenue through our offtake of spodumene concentrate. Offtake agreements from our international investments are expected to supply spodumene concentrate to Tennessee Lithium for conversion to lithium hydroxide, while Carolina Lithium is a fully integrated spodumene-to-hydroxide operation in North Carolina. These diversified operations should enable us to play a pivotal role in supporting America’s energy independence and the electrification of transportation and energy storage. Change in Fiscal Year-End Effective January 1, 2022, we changed our fiscal year end from June 30 to December 31. The six-month period from July 1, 2021, to December 31, 2021, served as a transition period. Our fiscal year for 2022 commenced on January 1, 2022, and ended on December 31, 2022. Unless otherwise noted, all references to “years” in this report refer to the twelve-month fiscal year, which prior to July 1, 2021 ended on June 30 and beginning after January 1, 2022 ends on December 31 of each year. Basis of Presentation Our consolidated financial statements and related notes have been prepared on the accrual basis of accounting in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”) and in conformity with the rules and regulations of the Securities and Exchange Commission (the “SEC”). The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. Unless otherwise indicated, all references to “$” are to U.S. dollars, and all references to “AUD” are to Australian dollars. Our reporting currency is U.S. dollars. Certain prior period amounts have been reclassified to conform with the current period presentation including reclassification of the Company’s proportional share of income in equity investments into operating income. See Note 4— Equity Method Investments in Unconsolidated Affiliates for further discussion. Piedmont Lithium acquired all of the issued and outstanding ordinary shares of Piedmont Lithium Pty Ltd (formerly named Piedmont Lithium Limited) (“Piedmont Australia”), our Australian predecessor and currently a wholly-owned subsidiary, pursuant to a Scheme of Arrangement under Australian law, which was approved by Piedmont Australia’s shareholders on February 26, 2021 and by the Supreme Court of Western Australia on May 5, 2021 (collectively referred to as “Redomiciliation”). As part of the Redomiciliation, we changed our place of domicile from Australia to the state of Delaware in the U.S., effective May 17, 2021. Piedmont Australia’s ordinary shares were listed on the Australian Securities Exchange (“ASX”), and Piedmont Australia’s American Depositary Shares (“ADSs”), each representing 100 of Piedmont Australia’s ordinary shares, were traded on the Nasdaq Capital Market (“Nasdaq”). Following the approval of the Redomiciliation, we moved the primary listing of our shares of common stock from the ASX to Nasdaq and retained an ASX listing via Chess Depositary Interests (“CDIs”), each representing 1/100th of a share of common stock of Piedmont Lithium Inc. All issued and outstanding shares of our common stock and per share amounts have been retroactively adjusted in these consolidated financial statements to reflect the 100:1 ratio and share consolidation. Shares of our common stock issued in connection with the Redomiciliation trade on Nasdaq under the symbol “PLL.” Risk and Uncertainties We are subject to a number of risks similar to those of other companies of similar size in our industry, including but not limited to, the success of our exploration and development activities, success of our equity investments in international projects, construction and permitting delays, the need for additional capital or financing to fund operating losses, competition from substitute products and services from larger companies, protection of proprietary technology, litigation, and dependence on key individuals. We have accumulated deficits of $105.7 million, and $92.7 million as of December 31, 2022 and December 31, 2021, respectively. We have incurred net losses and utilized cash in operations since inception, and we expect to incur future additional losses. We have cash available on hand and believe this cash will be sufficient to fund our operations and meet our obligations as they come due for at least one year from the date these consolidated financial statements are issued. In the event our cash requirements change during the next twelve months, management has the ability and commitment to make corresponding changes to our operating expenses as necessary. Until commercial production is achieved from our planned operations, we will continue to incur operating and investing net cash outflows associated with, among other things, funding capital projects, development stage technical studies, permitting activities associated with our projects, funding our commitments in Quebec and Ghana, maintaining and acquiring exploration properties and undertaking ongoing exploration activities. Our long-term success is dependent upon our ability to successfully raise additional capital or financing or enter into strategic partnership opportunities. Our long-term success is also dependent upon our ability to obtain certain permits and approvals, develop our planned portfolio of projects, earn revenues, and achieve profitability. Our consolidated financial statements have been prepared on a going-concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates, assumptions, and allocations that affect amounts reported in the consolidated financial statements and related notes. Significant items that are subject to such estimates and assumptions include, but are not limited to, long-lived assets, fair value of stock-based compensation awards, income tax uncertainties, valuation of deferred tax assets, contingent assets and liabilities, legal claims, asset impairments and environmental remediation. Actual results could differ due to the uncertainty inherent in the nature of these estimates. We base our estimates and assumptions on current facts, historical experience and various other factors that we believe to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. Actual results may differ materially and adversely from our estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Cash and Cash Equivalents We consider all highly liquid instruments with a maturity of three months or less at the time of issuance to be cash equivalents. We maintain cash deposits with high credit quality financial institutions. The deposits with these financial institutions may exceed the federally insured limits; however, these deposits typically are redeemable upon demand. We have not experienced any losses because of these deposits and do not expect to incur any losses in the future. Long-Lived Assets Mining Interests Mining interests are recorded at cost and include land acquisition payments and land option payments to landowners, which include legal fees and other direct costs to enter into these contract agreements. We own land, specifically surface properties and the associated mineral rights, as part of Carolina Lithium in the U.S., specifically in North Carolina. We have entered into exclusive option agreements or land acquisition agreements, which upon exercise, allow us to purchase, or in some cases lease, surface properties and the associated mineral rights in North Carolina from landowners. For those properties under option, no liability is recorded until we are certain of exercising the option. Mining interests in the exploration and development stage are not amortized until the underlying property is converted to the production stage, at which point the mining interests are depleted over the estimated recoverable proven and probable reserves. Development stage mining interests represent interests in properties under development that contain proven and probable reserves. Exploration stage mining interests represent interests in properties that are believed to potentially contain mineralized material consisting of: (i) mineralized material within pits; mineralized material with insufficient drill spacing to qualify as proven and probable reserves as well as and mineralized material in close proximity to proven and probable reserves; (ii) around-mine exploration potential not immediately adjacent to existing reserves and mineralization, but located within the immediate mine area; (iii) other mine-related exploration potential that is not part of current mineralized material and is comprised mainly of material outside of the immediate mine area; (iv) greenfield exploration potential that is not associated with any other production, development or exploration stage property, as described above; or (v) any acquired right to explore or extract a potential mineral deposit. The Company’s mineral rights generally are enforceable regardless of whether proven and probable reserves have been established. Mine Development Mine development assets include engineering and metallurgical test-work, drilling and other related costs to delineate an ore body, and the removal of overburden to initially expose an ore body at open pit surface mines. Costs incurred before mineral resources are classified as proven and probable reserves are expensed and recorded to “Exploration and mine development costs” in our statements of operations. Capitalization of mine development project costs begins once mineral resources are classified as proven and probable reserves. Drilling and related costs are capitalized for an ore body where proven and probable reserves exist and the activities are directed at obtaining additional information on the ore body or converting mineralized material to proven and probable reserves. All other drilling and related costs are expensed as incurred. The cost of removing overburden and waste materials to access the ore body at an open pit mine prior to the production phase are referred to as pre-stripping costs. Pre-stripping costs will be capitalized during the development of an open pit mine. The removal, production, and sale of de minimis salable materials may occur during the development phase of an open pit mine and are assigned incremental mining costs related to the removal of that material. Mine development assets will be depleted using the units-of-production method based on estimated recoverable metric tons in proven and probable reserves. To the extent that these costs benefit an entire ore body, they will be depleted over the estimated life of the ore body. As of December 31, 2022, we had no projects in the production phase, and we did not record depletion expense for any of our mine development assets. Property, Plant and Equipment Property, plant and equipment is recorded at cost, net of accumulated depreciation and depletion. Depreciation is computed on a straight-line basis over the estimated useful lives. Impairment of Long-Lived Assets Assets that are subject to depreciation, depletion or amortization are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable, or for non-depreciable assets in accordance with ASC Topic 360, “ Property, Plant, and Equipment .” Circumstances which could trigger a review include, but are not limited to: significant decreases in the market price of the asset; significant adverse changes in the business climate or legal factors; accumulation of costs significantly in excess of the amount originally expected for the acquisition or construction of the asset; current period cash flow or operating loss combined with a history of losses or a forecast of continuing losses associated with the use of the asset; and current expectation that the asset will more likely than not be sold or disposed before the end of its estimated useful life. Recoverability of assets is measured by a comparison of the carrying amount of an asset to estimated undiscounted future cash flows expected to be generated by an asset. If the carrying amount of an asset exceeds its estimated future undiscounted cash flows, an impairment charge is recognized at the amount by which the carrying amount exceeds the estimated fair value of the asset. The estimated fair value is determined using a discounted cash flow analysis. Any impairment in value is recognized as an expense in the period when the impairment occurs. We did not recognize impairment charges associated with long-lived assets for the year ended December 31, 2022, the six months ended December 31, 2021 or years ended June 30, 2021, and 2020. Asset Retirement Obligations We follow the provisions of ASC Topic 410 , “ Asset Retirement and Environmental Obligations, ” which establishes standards for the initial measurement and subsequent accounting for obligations associated with the sale, abandonment or other disposal of long-lived tangible assets arising from the acquisition, construction or development and for normal operations of such assets. We record the fair value of a liability for an asset retirement obligation as an asset and liability when there is a legal obligation associated with the retirement of a tangible long-lived asset and the liability can be reasonably estimated. The legal obligation to perform the asset retirement activity is unconditional, even though uncertainty may exist about the timing and/or method of settlement that may be beyond the entity’s control. As of December 31, 2022 and 2021, we did not record a provision for asset retirement obligation as no such condition had been met. Exploration and Mine Development Costs We incur costs in resource exploration, evaluation and development during the different phases of our resource development projects. Exploration costs incurred before the declaration of proven and probable resources, which primarily include exploration, drilling, engineering, metallurgical test-work, and compensation for employees associated with exploration activities, are expensed as incurred. We have also expensed as incurred engineering costs attributable to the evaluation of land for our future concentrator and chemical plants, development project management costs, feasibility studies and other project expenses that do not qualify for capitalization. After proven and probable resources are declared, exploration and mine development costs necessary to bring the property to commercial capacity or increase the capacity or useful life are capitalized. Foreign Currencies These consolidated financial statements have been presented in U.S. dollars, which is our reporting currency. Effective June 30, 2020, we adopted the U.S. dollar as our functional currency, triggered by an increased exposure to the U.S. dollar, as our future operating and capital costs are expected to be in U.S. dollars. The change in functional currency was applied prospectively from June 30, 2020 in accordance with U.S. GAAP. Gains and losses arising from translations or settlements of foreign currency denominated transactions or balances are included in the determination of income. Foreign currency translation adjustments resulting from the change in functional currency are included in “Other comprehensive income (loss), net of tax,” and gains and losses resulting from foreign currency transactions are presented in “(Loss) gain from foreign currency exchange” in in our consolidated financial statements. Loss per Share We compute loss per share in accordance with ASC Topic 260, “Earnings per Share.” Basic net loss per common share is computed by dividing net loss by the weighted-average number of shares of common shares outstanding during the period. Diluted net loss per share of common stock is computed by giving effect to all potential dilutive shares of common stock, including options, restricted stock units and performance awards. Basic and diluted net loss per share of common stock were the same for all periods presented as the impact of all potentially dilutive securities outstanding was anti-dilutive. Revenue Recognition We are a development stage company and have no revenues. Specific evaluations described in ASC Topic 606, “Revenue from Contracts with Customers,” will be performed once we begin earning revenues. In accordance with ASC Topic 606, revenue will be measured as the amount of consideration received in exchange for transferring goods or providing services, and will be recognized when performance obligations are satisfied under the terms of contracts with customers. A performance obligation will be deemed to be satisfied when control of the product is transferred to the customer. Stock-based Compensation We record stock-based compensation in accordance with ASC Topic 718, “Stock Compensation.” Equity-settled stock-based payments are provided to directors, officers, employees, consultants and other advisors. These stock-based payments are measured at the fair value of the equity instrument at the grant date in accordance with ASC Topic 718. Fair value is determined using the Black-Scholes valuation model. We have applied a graded (tranche-by-tranche) attribution method and record stock-based compensation expense on an accelerated basis over the vesting period of the share award. Forfeitures are accounted for in the period incurred. Fair Value of Financial Instruments Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. We follow ASC Topic 820, “Fair Value Measurement and Disclosure,” which establishes a three-level valuation hierarchy for disclosure of fair value measurements. The valuation hierarchy categorizes assets and liabilities measured at fair value into one of three different levels depending on the observability of the inputs employed in the measurement. The three levels are defined as follows: Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2: Inputs other than quoted prices included within Level 1 that are either directly or indirectly observable for the asset or liability, including quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in inactive markets, inputs other than quoted prices that are observable for the asset or liability and inputs that are derived from observable market data by correlation or other means. Level 3: Inputs for the asset or liability that are not based on observable market data (unobservable inputs). The level within which the financial asset or liability is classified is determined based on the lowest level of significant input to the fair value measurement. Measurement of Fair Value Our material financial instruments consist primarily of cash and cash equivalents, investments in equity securities, trade and other payables, and long-term debt as follows: • Long-term debt—As of December 31, 2022 and 2021, we had $0.6 million and $1.7 million, respectively, of principal debt outstanding associated with seller financed loans. The carrying value of our long-term debt approximates its estimated fair value. • As of December 31, 2022 and 2021, we had $0.5 million and $0.5 million, respectively, of investments in equity securities which are recorded at fair value based on Level 3 inputs. See Note 5— Other Assets . • Other financial instruments—The carrying amounts of cash and cash equivalents and trade and other payables approximate fair value due to their short-term nature. Level 3 activity was not material for all periods presented. Income Taxes We account for income taxes using the asset and liability method. Under the asset and liability method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. In addition, deferred tax assets are also recorded with respect to net operating losses and other tax attribute carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. Valuation allowances are established when realization of the benefit of deferred tax assets is not deemed to be more likely than not. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. We intend to continue maintaining a valuation allowance on our deferred tax assets if, in our judgement, it appears that is is more likely than not that all or some portion of the asset will not be realized. When assessing the need for a valuation allowance, we considered all available evidence, including all potential sources of taxable income, future reversals of taxable temporary differences, projections of taxable income, and income from tax planning strategies, as well as any other available and relevant information. Existing valuation allowances are re-examined each period. If it were determined that it is more likely than not that a deferred tax asset will be realized, the appropriate amount of the valuation allowance, if any, would be released in the period this determination is made. We only recognize a tax benefit after concluding that it is more likely than not that the benefit will be sustained upon audit by the respective taxing authority based solely on the technical merits of the associated tax position. Once the recognition threshold is met, we recognize a tax benefit measured as the largest amount of the tax benefit that, in our judgment, is greater than 50% likely to be realized. Interest and penalties related to income tax liabilities are included in “Income tax expense (benefit)” in our consolidated statements of operations. Equity Method Investments in Unconsolidated Affiliates We apply the equity method of accounting for investments when we have significant influence, but not controlling interest in the investee. Judgment regarding the level of influence over each equity method investment includes key factors such as ownership interest, representation on the board of directors, participation in policy-making decisions, operational decision-making authority, and material intercompany transactions. In applying the equity method, we record the investment at cost and subsequently increase or decrease the carrying amount of the investment by our proportionate share of the net earnings or losses and other comprehensive income of the investee, adjusted for differences between their local GAAP and U.S. GAAP. Our investment balance is also adjusted for currency translation adjustments representing fluctuations between the functional currency of the investees. The carrying value of our equity method investments is reported as “Equity method investments in unconsolidated affiliates”, adjustments related to foreign currency adjustments and our proportional shares of other comprehensive income (loss) is reported in “Accumulated other comprehensive loss” in our consolidated balance sheets. For all equity method investments, we record our share of an investee’s income or loss on a one quarter lag. We evaluate material events occurring during the quarter lag to determine whether the effects of such events should be disclosed in our financial statements. We classify distributions received from equity method investments using the cumulative earnings approach on our consolidated statements of cash flows. A change in our proportionate share of an investee’s equity resulting from issuance of common shares or in-substance common shares by the investee to third parties is recorded as a gain or loss in our consolidated statements of operations in accordance with ASC Topic 323, “ Investments-Equity Method and Joint Ventures,” (Subtopic 10-40-1). We assess investments for impairment whenever events or changes in circumstances indicate that the carrying value of an investment may not be recoverable. If the decline in value is considered to be other than temporary, the investment is written down to its estimated fair value, which establishes a new cost basis in the investment. We did not record any such impairment charges for any periods presented. Leases We account for leases in accordance with ASC Topic 842, “Lease s, ” which requires lessees to recognize lease liabilities and right-of-use (“ROU”) assets on the balance sheet for contracts that provide lessees with the right to control the use of identified assets. As part of this adoption, we made certain accounting policy elections which are detailed in the recently adopted accounting pronouncements sub-section in Note 7— Leases, to the consolidated financial statements in our Annual Report. We evaluate whether our contractual arrangements contain leases at the inception of such arrangements. Specifically, management considers whether we control the underlying asset and have the right to obtain substantially all of the economic benefits or outputs from the asset. ROU lease assets represent our right to use an underlying asset for the lease term, and lease liabilities represent the obligation to make lease payments. Both the ROU lease asset and liability are recognized as of the lease commencement date based on the present value of the lease payments over the lease term. Our leases do not provide an implicit borrowing rate that can readily be determined. Therefore, we apply a discount rate based on the incremental borrowing rate, which is determined using our synthetic credit rating and other information available as of the lease commencement date. ROU lease assets also include any lease payments made before their contractual due dates and exclude any lease incentives. Our lease agreements may include options to extend the lease term or to terminate the lease early. We include options to extend or terminate leases upon determination of the ROU lease asset and liability when we are reasonably certain we will exercise these options. Operating lease expense attributable to lease payments is recognized on a straight-line basis over the lease term and is included in “Exploration and mine development costs” in the consolidated statements of operations. We evaluate ROU assets for impairment consistent under our impairment of long-lived assets policy. We had no sales-type or finance leases as of December 31, 2022 and 2021. Recently Issued and Adopted Accounting Pronouncements We have considered the applicability and impact of accounting pronouncements that have been issued by the FASB and other standard setting organizations which are not yet effective and which we have not yet adopted. The impact on our financial position and results of operations from adoption of these standards is not expected to be material.

PROPERTY, PLANT AND MINE DEVELO

PROPERTY, PLANT AND MINE DEVELOPMENT	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT AND MINE DEVELOPMENT	PROPERTY, PLANT AND MINE DEVELOPMENT Property, plant and mine development, net, is presented in the following table: December 31, December 31, Mining interests $ 56,119,627 $ 39,303,043 Mine development 3,050,239 — Land 720,033 688,829 Leasehold improvements 281,008 — Facilities and equipment 675,795 107,248 Construction in process 10,779,566 — Property, plant and mine development 71,626,268 40,099,120 Accumulated depreciation (85,470) (43,766) Property, plant and mine development, net $ 71,540,798 $ 40,055,354 Depletion of mining interests and mine development assets does not commence until the assets are placed in service. As of December 31, 2022, we have not recorded depletion expense for any of our mining interests or mine development assets. Mining interests and mine development costs relate to Carolina Lithium. Our construction in process relates to capitalized costs associated with Tennessee Lithium and Carolina Lithium. Depreciation expense is included in “General and administrative expenses” in our consolidated statements of operations. Depreciation expense was $73,697, $8,697, $11,589 and $13,249 for the year ended December 31, 2022, the six months ended December 31, 2021, and the years ended June 30, 2021 and 2020, respectively.

EQUITY METHOD INVESTMENTS IN UN

EQUITY METHOD INVESTMENTS IN UNCONSOLIDATED AFFILIATES	12 Months Ended
	Dec. 31, 2022
Equity Method Investments and Joint Ventures [Abstract]
EQUITY METHOD INVESTMENTS IN UNCONSOLIDATED AFFILIATES	EQUITY METHOD INVESTMENTS IN UNCONSOLIDATED AFFILIATES We apply the equity method to investments when we have the ability to exercise significant influence over the operational decision-making authority and financial policies of the investee. We account for our existing investments in Atlantic Lithium Limited (“Atlantic Lithium”), Sayona Mining Limited (“Sayona Mining”), and Sayona Quebec Inc. (“Sayona Quebec”), a subsidiary of Sayona, as equity method investments. We continue to evaluate operational developments and the impact of the anticipated significant expansion of the operations of our existing equity method investments. As discussed below, Atlantic Lithium’s completion of a prefeasibility study for the Ewoyaa Lithium Project (“Ewoyaa”), along with the anticipated restart of Sayona Quebec’s North American Lithium (“NAL”) Projects, were impactful to the consideration of how we most appropriately reflect our proportional share of income (loss) from our three existing equity method investments. Offtake agreements with our equity method investments are expected to supply the majority of the spodumene concentrate to Tennessee Lithium for conversion to lithium hydroxide, or re-sell into the market. Based on our analysis, it was determined that our equity method investments have evolved into a critical, integrated part of our ongoing operations. We have determined this justifies a more meaningful and transparent presentation of our proportional share of income (loss) in our equity method investments as a component of our operating income. As a result, we have reclassified our share of income (loss) in equity method investments to operating income for all periods presented. Our share of the income (loss) from Atlantic Lithium, Sayona Mining and Sayona Quebec is recorded on a one quarter lag within “Loss from operations” in our consolidated statements of operations. Below is a summary of our equity method investments as of December 31, 2022. Sayona Mining We own an equity interest of approximately 14% in Sayona Mining, an Australian company publicly listed on the ASX, and have formed a strategic partnership with Sayona Mining to explore, evaluate, develop, mine, and ultimately produce spodumene concentrate in Quebec, Canada. Sayona Mining completed equity offerings of its shares of common stock to raise additional capital. The issuances of additional shares reduced our ownership interest in Sayona Mining. These shares were issued at a valuation greater than the carrying value of our ownership interest, which was diluted by not participating in these equity offerings. As a result, we recognized a noncash gain of $29.4 million in the year ended December 31, 2022. The additional share issuances were made during Sayona Mining’s fiscal year ended June 30, 2022. We recorded the cumulative gain in “Gain on dilution of equity method investments in unconsolidated affiliates” in our consolidated statements of operations. Certain portions of the gain related to prior periods which were determined by management to be immaterial. Sayona Quebec We own an equity interest of 25% in Sayona Quebec for the purpose of furthering our investment and strategic partnership in Quebec, Canada with Sayona Mining. The remaining 75% equity interest is held by Sayona Mining. Sayona Quebec holds a 100% interest in the existing lithium mining operations of NAL, the Authier Lithium Project and the Tansim Lithium Project. We have a long-term offtake agreement with Sayona Quebec, under which Sayona Quebec will supply Piedmont Lithium the greater of 113,000 metric tons per year or 50% of spodumene concentrate production on a life-of-mine basis. Purchases of spodumene concentrate by Piedmont Lithium from Sayona Quebec are subject to market pricing with a price floor of $500 per metric ton and a price ceiling of $900 per metric ton. In addition to spodumene mining and concentrate production, the NAL complex also includes a partially completed lithium carbonate refinery, which was developed by a prior operator of NAL. In the event Piedmont Lithium and Sayona Mining decide to jointly construct and operate a lithium conversion plant through their jointly-owned entity, Sayona Quebec, then spodumene concentrate produced from NAL would be preferentially delivered to that conversion plant upon commencement of conversion operations. Any remaining spodumene concentrate not delivered to a jointly-owned conversion plant would first be delivered to Piedmont Lithium up to Piedmont Lithium’s offtake right and then to third parties. Any decision to construct jointly-owned lithium conversion capacity must be agreed by both parties. Atlantic Lithium We own an equity interest of approximately 9% in Atlantic Lithium, an Australian company publicly listed on the Alternative Investment Market of the London Stock Exchange and the ASX, and have formed a strategic partnership with Atlantic Lithium to explore, evaluate, mine, develop, and ultimately produce spodumene concentrate in Ghana. We have the right to acquire a 50% equity interest in Atlantic Lithium’s Ghanaian-based lithium portfolio companies (collectively, “Atlantic Lithium Ghana”), which are wholly-owned subsidiaries of Atlantic Lithium, through current and future staged investments. We have a long-term offtake agreement whereby Atlantic Lithium will sell 50% of spodumene concentrate produced in Ghana for the life of the mine to Piedmont Lithium, subject to us electing to exercise our option to fund construction costs of Ewoyaa. See Note 5— Other Assets . The following tables summarize the carrying amounts, including changes therein, of our equity method investments: Sayona Mining Sayona Quebec Atlantic Lithium Total Initial investment (1) $ 11,290,819 $ 5,067,593 $ — $ 16,358,412 Loss from equity method investments (64,626) — — (64,626) Share of income (loss) from equity method investments included in other comprehensive income (loss) (31,288) — — (31,288) Balance at June 30, 2021 11,194,905 5,067,593 — 16,262,498 Initial investment (2) — — 15,969,503 15,969,503 Additional investments (3) 7,423,086 20,211,235 — 27,634,321 Return of capital (4) — — (513,511) (513,511) Loss from equity method investments (525,679) (62,977) (53,479) (642,135) Share of income (loss) from equity method investments included in other comprehensive income (loss) 164,176 — (2,142) 162,034 Balance at December 31, 2021 18,256,488 25,215,851 15,400,371 58,872,710 Additional investments (5) 1,444,855 19,617,242 — 21,062,097 Gain (loss) on dilution of equity method investments (6) 29,401,727 — (446,834) 28,954,893 Loss from equity method investments (3,104,926) (2,499,064) (2,748,300) (8,352,290) Share of income (loss) from equity method investments included in other comprehensive income (loss) (1,378,740) (2,571,021) (939,847) (4,889,608) Balance at December 31, 2022 $ 44,619,404 $ 39,763,008 $ 11,265,390 $ 95,647,802 ____________________________________________________________________________ (1) Initial investment includes transaction costs of $212,713 for the year ended June 30, 2021. (2) Initial investment includes transaction costs of $111,071 for the six months ended December 31, 2021. (3) Additional investment includes transaction costs of $171,379 for the six months ended December 31, 2021. (4) In December 2021, Atlantic Lithium demerged its gold business assets by exchanging them for shares in a newly formed company, Ricca Resources Limited. The shares in Ricca Resources Limited received were distributed to the shareholders of Atlantic Lithium and treated as a return of capital. (See Note 5 —Other Assets ). (5) Additional investments in Sayona Quebec totaling $5,683,894 have been made beginning January 1, 2023 through the date of this filing. (6) Gain (loss) on dilution of equity method investments relates to: (i) issuances of additional shares of Sayona Mining, as discussed above, which reduced our ownership interest in Sayona Mining, and as a result, we recognized a noncash gain of $29.4 million and (ii) the exercise of certain Atlantic Lithium stock options and share grants which resulted in a reduction of our ownership in Atlantic Lithium. Our ownership percentage for Sayona Mining and Atlantic Lithium may continue to be reduced by future stock issuances. As of December 31, 2022 Sayona Mining Sayona Quebec Atlantic Lithium Fair value of equity investments where market values from publicly traded entities are readily available $ 157,271,908 Not publicly traded $ 24,885,000 For the year ended December 31, 2022, our interests in Sayona Mining, and Atlantic Lithium are significant as defined by the Securities and Exchange Commission’s Regulation S-X Rule 1-02(w). Accordingly, as required by Regulation S-X Rule 3-09, we have included the audited financial statements of Sayona Mining and Atlantic Lithium as of and for their most recent fiscal year ended June 30, 2022, with a comparative period of 2021, as an exhibit to this Form 10-K. The following tables present summarized financial information included in our share of income (loss) from equity method investments noted above for our significant equity investments. The balances below were compiled from information provided to us by each investee and are presented in accordance with U.S. GAAP: Summarized financial information for the year ended and as of December 31, 2022: Sayona Mining Sayona Quebec Atlantic Lithium Summarized statement of operations information: Revenue $ — $ — $ — Net loss from operations (19,274,044) (9,996,260) (39,801,057) Other comprehensive income (loss), net of tax 10,424,036 179,041 (32,483) Comprehensive loss (8,850,008) (9,817,219) (39,833,540) Summarized balance sheet information: Current assets 122,252,635 24,869,403 19,393,500 Non-current assets 237,656,191 147,953,912 1,074,079 Current liabilities 5,299,124 3,194,978 3,895,742 Non-current liabilities 57,987,101 88,183,972 15,612,992 Summarized financial information for the six months ended and as of December 31, 2021: Sayona Mining Sayona Quebec Atlantic Lithium Summarized statement of operations information: Revenue $ — $ — $ — Net loss from operations (2,692,205) (251,909) (539,649) Other comprehensive income (loss), net of tax 844,581 — (21,619) Comprehensive loss (1,847,624) (251,909) (561,268) Summarized balance sheet information: Current assets 18,302,011 712,057 24,332,412 Non-current assets 99,752,858 97,957,054 43,422,205 Current liabilities 2,071,478 917,461 3,354,029 Non-current liabilities 23,048 — — Summarized financial information for the year ended and as of June 30, 2021: Sayona Mining Summarized statement of operations information: Revenue $ — Net loss from operations (324,754) Other comprehensive income (loss), net of tax (157,224) Comprehensive loss (481,979) Summarized balance sheet information: Current assets 9,710,517 Non-current assets 17,718,789 Current liabilities 4,746,137 Non-current liabilities 24,285

OTHER ASSETS

OTHER ASSETS	12 Months Ended
	Dec. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
OTHER ASSETS	OTHER ASSETS Other current assets consisted of the following: December 31, December 31, Investments in equity securities $ 483,836 $ 513,511 Prepaid assets and other receivables 2,128,005 2,001,091 Total other current assets $ 2,611,841 $ 2,514,602 As of December 31, 2022, our investments in equity securities consisted of common shares in Ricca Resources Limited (“Ricca”), which we acquired as part of a spin-out of Ricca from Atlantic Lithium. Ricca is a private company focused on gold exploration in Africa. Other non-current assets consisted of the following: December 31, December 31, Advances on exploration project $ 17,316,440 $ 4,310,173 Other non-current assets 263,845 190,030 Operating lease right-of-use assets 1,293,394 60,919 Total other non-current assets $ 18,873,679 $ 4,561,122 We have a strategic partnership with Atlantic Lithium that includes Atlantic Lithium Ghana. Under our partnership, we entered into a project agreement to acquire a 50% equity interest in Atlantic Lithium Ghana as part of two phases of future staged investments by Piedmont Lithium in the Ewoyaa over an approximate period of three We are currently in Phase 1, which allows us to acquire a 22.5% equity interest in Atlantic Lithium Ghana by funding approximately $17 million for exploration and definitive feasibility study expenses. Our future equity interest ownership related to Phase 1 is contingent upon completing a definitive feasibility study and making an election to proceed with Phase 2. Phase 2 allows us to acquire an additional 27.5% equity interest in Atlantic Lithium Ghana upon completion of funding approximately $70 million for capital costs associated with the construction of Ewoyaa. Any cost savings or cost overruns from the initial commitment for each phase will be shared equally between Piedmont Lithium and Atlantic Lithium. Upon completion of phases one and two, we will have a total equity interest of 50% in Atlantic Lithium Ghana. Phase 1 funding costs are included in “Other non-current assets” in our consolidated balance sheets as an advance on our expected future investments in Ewoyaa. Our maximum exposure to a loss as a result of our involvement in Ewoyaa is limited to the total funding paid by Piedmont Lithium to Atlantic Lithium. As of December 31, 2022, we did not own an equity interest in Atlantic Lithium Ghana. We have made advanced payments primarily related to Ewoyaa, totaling $12.7 million and $4.3 million during the twelve months ended December 31, 2022 and six months ended December 31, 2021, respectively. Additional advance payments totaling $0.9 million have been made beginning January 1, 2023 through the date of this filing. During the year ended December 31, 2022, we entered into a new lease with a term of 7 years for our corporate offices in Belmont, North Carolina. Accordingly, we recorded a right-of-use asset and lease liability of $1.3 million as of the commencement date of the lease. See Note 7— Leases for further discussion.

LONG-TERM DEBT

LONG-TERM DEBT	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
LONG-TERM DEBT	LONG-TERM DEBT We have entered into long-term debt agreements to purchase surface properties and the associated mineral rights from landowners that form part of “Mining interests” on our consolidated balance sheets. These purchases were fully or partly financed by the seller of each of the surface properties. Our long-term debt is payable in monthly installments ranging from approximately $2,000 to $20,000 per month on terms ranging from 2 to 5 years. Payments include an implied or stated interest rate of 10% and are secured by the respective real property. The outstanding balances of our long-term debt agreements were as follows: December 31, December 31, Current portion of long-term debt $ 425,187 $ 762,189 Long-term debt, net of current portion 163,425 914,147 Total long-term debt $ 588,612 $ 1,676,336 We paid interest on our long-term debt as follows: Year Ended Six Months Ended Years Ended June 30, 2021 2020 Interest paid $ 115,029 $ 112,869 $ 271,264 $ 107,569 Scheduled payments for the principal portion of our outstanding long-term debt are as follows: December 31, 2023 $ 425,187 2024 148,910 2025 14,515 2026 — Total $ 588,612

LEASES

LEASES	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
LEASES	LEASES In July 2021, the Company entered into a lease for our corporate offices in Belmont, North Carolina. The Company took occupancy of the space in August 2022. The lease has an initial term of 7 years, with an option to extend the term for an additional 6 years at then-market rental rates. Lease presentation in our consolidated balance sheets, components of lease costs and other lease information are presented in the following table: December 31, December 31, Assets: Right-of-use assets - operating lease $ 1,293,394 $ 60,919 Liabilities: Current 124,464 59,430 Non-current 1,176,709 — Operating lease liabilities $ 1,301,173 $ 59,430 Year Ended Six Months Ended Years Ended June 30, 2021 2020 Statements of operations: Operating lease cost $ 152,617 $ 84,228 $ 165,456 $ 156,456 Short-term lease cost 105,914 66,592 78,583 32,673 Sublease income 51,255 61,506 120,752 29,906 Other information: Right-of-use assets obtained in exchange for new operating lease liabilities $ 1,339,203 $ — $ 14,921 $ 391,549 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 143,349 $ 86,356 $ 165,817 $ 152,251 Weighted-average remaining lease term (in months) 80 3 11 23 Weighted-average discount rate 10% 10% 10% 10% Maturities of lease payments under non-cancellable leases are as follows: December 31, 2022 2023 $ 249,060 2024 256,532 2025 264,228 2026 272,155 2027 280,320 Thereafter 485,027 Total future minimum lease payments 1,807,322 Interest included within lease payments (506,149) Total operating lease liabilities $ 1,301,173

EQUITY

EQUITY	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
EQUITY	EQUITY Pursuant to the Redomiciliation, holders of Piedmont Australia’s ordinary shares received one (1) CDI in Piedmont Lithium Inc. for each ordinary share held in Piedmont Australia on the Redomiciliation record date; and holders of ADSs in Piedmont Australia received one (1) share of common stock of Piedmont Lithium Inc. for each ADS held in Piedmont Australia on the Redomiciliation record date with each ADS representing 100 Piedmont Australia ordinary shares. On the effective date of the Redomiciliation, the number or ordinary outstanding shares was reduced from 1,574,597,320 to 15,764,533 shares of common stock. All share and per share amounts in these consolidated financial statements and related notes for periods prior to the Redomiciliation have been retroactively adjusted to reflect the effect of the exchange ratio. We are authorized to issue up to 100,000,000 shares of common stock, par value $0.0001 per share, and 10,000,000 shares of preferred stock, par value $0.0001 per share. We have no outstanding shares of preferred stock. Equity Transactions During the Year Ended December 31, 2022 In March 2022, we issued 2,012,500 shares under our $500 million automatic shelf registration with an issue price of $65.00 per share to raise gross proceeds of $130.8 million. Share issuance costs associated with the U.S. public offering totaled $8.8 million and were accounted for as a reduction in the proceeds from share issuances in the consolidated balance sheets. Equity Transactions During the Six Months Ended December 31, 2021 On September 24, 2021, we filed a $500 million shelf registration statement with the SEC to provide us with capacity to publicly offer, common stock, preferred stock, warrants, debt, convertible or exchangeable securities, depositary shares, or units, or any combination thereof. We may from time to time raise capital under our shelf registration statement in amounts, at prices, and on terms to be announced when and if any securities are offered. As of December 31, 2022 we have $369.2 million remaining under our shelf registration statement, which expires on September 24, 2024. Equity Transactions During the Year Ended June 30, 2021 In August 2020, we issued 1,200,000 shares at a weighted-average issue price of AUD 9.00 (1) . In October 2020, we issued 2,300,000 shares with a weighted-average issue price of $25.00. In March 2021, we issued 1,750,000 shares with a weighted-average issue price of $70.00. Share issuance costs associated with the Australia share placements and U.S. public offering totaled $12,819,429 and were accounted for as a reduction in the proceeds from share issuances in the consolidated balance sheets. Equity Transactions During the Year Ended June 30, 2020 In July 2019, we issued 1,450,000 shares with a weighted-average issue price of AUD 14.50 (1) . In June 2020, we issued 2,065,000 shares with a weighted-average issue price of $6.30. Share issuance costs associated with the Australia share placements and U.S. public offering totaled $2,326,270 and were accounted for as a reduction in the proceeds from share issuances in the consolidated balance sheets. ___________________________________________________________________________ (1) The weighted-average issue price in Australian dollars (AUD) were on share issuances that were initiated in Australian dollars and translated into U.S. dollars at historical rates.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	12 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION Stock Incentive Plans In March 2021, our Board adopted, in connection with the Redomiciliation, the Piedmont Lithium Inc. Stock Incentive Plan (“Incentive Plan”). The Incentive Plan authorized the grant of stock options, stock appreciation rights, restricted stock units and restricted stock, any of which may be performance-based. Our Leadership and Compensation Committee determines the exercise price for stock options and the base price of stock appreciation rights, which may not be less than the fair market value of our common stock on the date of grant. Generally, stock options or stock appreciation rights vest after three years of service and expire at the end of ten years. Performance rights awards (“PRAs”) vest upon achievement of certain pre-established performance targets that are based on specified performance criteria over a performance period. As of December 31, 2022, 2,343,298 shares of common stock were available for issuance under our Incentive Plan. We include the expense related to stock-based compensation in the same financial statement line item as cash compensation paid to the same employee. Additionally, and if applicable, we capitalize personnel expenses attributable to the development of our mine and construction of our plants, including stock-based compensation expenses. We recognize share-based award forfeitures as they occur. Stock-based compensation related to all stock-based incentive plans is presented in the following table: Year Ended Six Months Ended Years Ended June 30, 2021 2020 Components of stock-based compensation: Stock-based compensation $ 4,630,345 $ 2,003,116 $ 1,319,372 $ 470,939 Stock-based compensation forfeitures (858,651) — — — Stock-based compensation, net of forfeitures $ 3,771,694 $ 2,003,116 $ 1,319,372 $ 470,939 Presentation of stock-based compensation in the consolidated financial statements: Exploration and mine development costs $ 161,051 $ 687,695 $ 495,031 $ 171,151 General and administrative expenses 3,328,914 1,315,421 824,341 299,788 Stock-based compensation expense, net of forfeitures (1) 3,489,965 2,003,116 1,319,372 470,939 Capitalized stock-based compensation (2) 281,729 — — — Stock-based compensation, net of forfeitures $ 3,771,694 $ 2,003,116 $ 1,319,372 $ 470,939 __________________________ (1) We did not reflect a tax benefit associated with stock-based compensation expense in the consolidated statements of operations because we had a full tax valuation allowance during these periods. As such, the table above does not reflect the tax impacts of stock-based compensation expense. (2) These costs relate to direct labor costs associated with our Tennessee operations and Carolina Lithium projects and are included in “Property, plant and mine development, net” in our consolidated balance sheets. Stock Option Awards Stock options may be granted to employees, officers, non-employee directors and other service providers. Stock options granted are equal to the market value of the underlying common stock on the date of grant. We use the Black-Scholes valuation model to measure stock-based compensation expense associated with stock options as of each respective grant date. As of December 31, 2022, we had remaining unvested stock-based compensation expense of $5.7 million to be recognized through December 2024. The following assumptions were used to estimate the fair value of stock options granted during the periods presented below: Years Ended December 31, June 30, June 30, Expected life of options (in years) 5.3 - 6.4 5.3 - 6.3 2.7 - 2.8 Risk-free interest rate 1.1% - 3.4% 0.9% - 1.2% 0.3% - 0.5% Assumed volatility 50% 50% 70% Expected dividend rate 0% 0% 0% There were no stock options granted during the six months ended December 31, 2021. Restricted Stock Unit Awards Restricted stock units (“RSUs”) are granted to employees and non-employee directors based on the market price of our common stock on the grant date and recognized as stock-based compensation expense over the vesting period, subject to the passage of time and continued service during the vesting period. In some instances, awards may vest concurrently with or following an employee’s termination. RSUs were first granted to employees and non-employee directors in May 2021. Performance Rights Awards The fair value of PRAs is based on the market price of our common stock on the grant date. PRAs are subject to performance conditions, which must be satisfied in order for PRAs to vest. Each performance right automatically converts into one share of common stock upon vesting of the performance right. Upon vesting of PRAs, common stock is immediately issued for no consideration. The performance right will expire if a performance condition of a performance right is not achieved by the expiry date. A summary of activity relating to our share-based awards is reflected in the following table: Stock Option Awards Weighted- Restricted Stock Units Weighted- Performance Rights Awards Weighted- June 30, 2019 846,500 $ 13.77 — $ — 500 $ 5.41 Granted 259,500 16.15 — — 75,000 4.51 Exercised or surrendered (315,000) 7.71 — — (25,000) 4.51 Expired/Vested (254,750) 17.13 — — (500) 5.41 June 30, 2020 536,250 16.88 — — 50,000 5.20 Granted 135,004 35.14 36,745 64.08 10,000 6.50 Exercised or surrendered (15,000) 12.38 — — — — Expired/Vested (263,750) 15.97 — — — — June 30, 2021 392,504 21.16 36,745 64.08 60,000 5.42 Granted — — 14,532 59.17 — — Exercised or surrendered (120,000) 13.93 — — — — Forfeited — — — — (5,000) 6.50 Expired/Vested — — — — (25,000) 5.20 December 31, 2021 272,504 24.34 51,277 59.17 30,000 5.42 Granted 194,906 55.00 28,664 54.24 49,468 54.13 Exercised or surrendered (182,500) 14.92 (26,004) 58.33 — — Forfeited (19,458) 38.74 (17,770) 66.77 (35,000) 12.20 Expired/Vested (719) 65.00 — — — — December 31, 2022 264,733 $ 52.23 36,167 $ 57.12 44,468 $ 54.27 Vested at December 31, 2022 75,231 $ 47.30 December 31, 2022 Option Shares Outstanding Option Shares Vested Weighted average remaining contractual term (in years) 1.04 0.72 Aggregate intrinsic value of share options $ — $ —

EMPLOYEE BENEFIT PLAN

EMPLOYEE BENEFIT PLAN	12 Months Ended
	Dec. 31, 2022
Retirement Benefits [Abstract]
EMPLOYEE BENEFIT PLAN	EMPLOYEE BENEFIT PLANOur employees may participate in the Piedmont Lithium 401(k) Plan (“401(k) Plan”), a defined contribution plan which qualifies under Section 401(k) of the Internal Revenue Code. The 401(k) Plan was effective June 24, 2018. Participating employees may contribute up to 100% of their pre-tax earnings up to the statutory limit. We recorded 401(k) matching contribution expenses of $235,905, $78,214, $146,721, and $28,731 for the year ended December 31, 2022, the six months ended December 31, 2021 and the years ended June 30, 2021, and 2020, respectively.

EARNINGS PER SHARE

EARNINGS PER SHARE	12 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE We compute basic and diluted earnings per common share by dividing net earnings by the respective weighted average number of common shares outstanding for the periods presented. Our calculation of diluted earnings per common share also includes the dilutive effects for the assumed vesting of outstanding options, RSUs and PRAs based on the treasury stock method. In computing diluted earnings per share, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options. Diluted earnings per share excludes all dilutive potential shares if their effect is anti-dilutive. Basic and diluted net loss per share is reflected in the following table: Year Ended Six Months Ended Years Ended June 30, 2021 2020 Net loss $ (12,974,674) $ (21,348,355) $ (19,993,848) $ (5,879,152) Weighted-average number of common shares used in calculating basic and dilutive earnings per share 17,517,678 15,868,521 13,551,150 8,283,567 Basic and diluted net loss per weighted-average share $ (0.74) $ (1.35) $ (1.48) $ (0.71) Potentially dilutive shares were not included in the calculation of diluted net loss per share because their effect would have been anti-dilutive in those periods. PRAs were not included as their performance obligations had not been met. The potentially dilutive and anti-dilutive shares not included in diluted net loss per share are presented in the following table: Year Ended Six Months Ended Years Ended June 30, 2021 2020 Stock options 264,733 272,504 392,504 536,250 RSUs 36,167 51,277 36,745 — PRAs 44,468 30,000 60,000 50,000 Total potentially dilutive shares 345,368 353,781 489,249 586,250

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Loss before income taxes and current and deferred income tax expense are composed of the following: Year Ended Six Months Ended Years Ended June 30, 2021 2020 Income (loss) before income taxes: Domestic $ (31,650,816) $ (20,656,738) $ (17,601,419) $ (5,424,724) Foreign 21,815,406 (691,617) (2,392,429) (454,428) Total $ (9,835,410) $ (21,348,355) $ (19,993,848) $ (5,879,152) The reconciliation of the U.S. federal statutory tax rate to our effective income tax rate is as follows: Year Ended Six Months Ended Years Ended June 30, 2021 2020 Pre-tax loss $ (9,835,410) $ (21,348,355) $ (19,993,848) $ (5,879,152) Benefit at statutory rate (21%) (2,065,436) (4,483,155) (4,198,708) (1,234,622) Foreign rate differential 1,963,387 (62,246) (22,160) (13,801) Non-deductible transaction costs — — 299,965 — Permanent items (162,114) (102,837) 141,223 63,229 Foreign exchange differences (840,469) 17,464 — — Branch deferred taxes 4,003,454 — — — State taxes 511,370 508,600 (985,983) (338,078) Other adjustments — 290,312 — — Change in valuation allowance (270,928) 3,831,862 4,765,663 1,523,272 Income tax expense $ 3,139,264 $ — $ — $ — Tax expense for the year ended December 31, 2022 related entirely to foreign deferred taxes. Deferred income tax assets and liabilities recorded in the consolidated balance sheets consisted of the following: December 31, December 31, Deferred tax assets Accrued expenditures $ 887,464 $ 691,908 Exploration and mine development expenditures 167,651 7,686,371 Stock-based compensation 894,786 656,617 Tax carryforwards 21,850,937 7,993,664 Other deferred tax assets 1,432,208 177,512 Gross deferred tax assets 25,233,046 17,206,072 Valuation allowance (17,750,955) (17,186,537) Deferred tax assets 7,482,091 19,535 Deferred tax liabilities Equity method investments (9,440,314) — Other deferred tax liabilities (922,900) (19,535) Deferred tax liabilities (10,363,214) (19,535) Net deferred tax liability $ (2,881,123) $ — During the year ended December 31, 2022, deferred tax liabilities increased by $2.9 million. The increase was driven by the gain on dilution of equity method investments, partially offset by a $3.9 million deferred tax benefit for a release in valuation allowance against certain deferred tax assets in Australia. The taxable temporary difference in equity method investments provide a source of income for realizing deferred tax assets, causing the $3.9 million deferred tax benefit for a release in valuation allowance against certain deferred tax assets. Changes in the balances of our deferred tax asset valuation allowance were as follows: December 31, December 31, June 30, Beginning balance $ 17,186,537 $ 13,354,675 $ 8,589,012 Charged to other accounts 835,346 — — Charged to income tax expense (270,928) 3,831,862 4,765,663 Ending balance $ 17,750,955 $ 17,186,537 $ 13,354,675 Total net operating losses available were as follows: December 31, December 31, Begin to expire U.S. - Federal $ 9,596,659 $ 4,660,187 2037 — Indefinite U.S. - State 742,982 712,124 2032 Australia - Federal 3,697,101 2,481,828 Indefinite Australia - Capital 257,762 214,872 Indefinite Total $ 14,294,504 $ 8,069,011 As of December 31, 2022 and 2021, we did not have any unrecognized tax benefits. Interest and penalties related to income tax matters are classified as a component of income tax expense. We do not anticipate any significant changes to unrecognized tax benefits over the next twelve months. We file income tax returns in the U.S. federal jurisdiction, various state jurisdictions, and in various international jurisdictions. Our tax filings remain subject to audits by applicable tax authorities for a certain length of time following the tax year to which those filings relate. Tax years 2017 and forward generally remain open for examination for federal and state tax purposes. Tax years 2009 and forward generally remain open for examination for foreign tax purposes.

SEGMENT REPORTING

SEGMENT REPORTING	12 Months Ended
	Dec. 31, 2022
Segment Reporting [Abstract]
SEGMENT REPORTING	SEGMENT REPORTING We report our segment information in the same way management internally organizes the business in assessing performance and making decisions regarding allocation of resources in accordance with ASC Topic 280, “Segment Reporting . ” We have a single reportable operating segment which operates as a single business platform. In reaching this conclusion, management considered the definition of the Chief Operating Decision Maker (“CODM”), how the business is defined by the CODM, the nature of the information provided to the CODM, how the CODM uses such information to make operating decisions, and how resources and performance are accessed. The results of operations provided to and analyzed by the CODM are at the consolidated level, and accordingly, key resource decisions and assessment of performance are performed at the consolidated level. We have a single, common management team and our cash flows are reported and reviewed at the consolidated level only with no distinct cash flows at an individual business level.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Legal Proceedings We are involved from time to time in various claims, proceedings, and litigation. We establish reserves for specific legal proceedings when we determine that the likelihood of an unfavorable outcome is probable and the amount of loss can be reasonably estimated. In July 2021, a lawsuit was filed against us in the U.S. District Court for the Eastern District of New York on behalf of a class of putative plaintiffs claiming violations of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The complaint alleged, among other things, that we made false and/or misleading statements and/or failed to make disclosure relating to proper and necessary permits. In February 2022, the Court appointed a lead plaintiff in this action, and the lead plaintiff filed an amended complaint in April 2022. On July 18, 2022, we moved to dismiss the amended complaint. On September 1, 2022, the lead plaintiff filed his Memorandum of Law in Opposition to our Motion to Dismiss. On October 7, 2022, we filed our Reply Memorandum in support of our Motion to Dismiss. The Court has yet to rule on our Motion to Dismiss. We intend to vigorously defend against these claim should the amended complaint survive. Although there can be no assurance as to the outcome, we do not believe these claims have merit. The potential monetary relief, if any, is not probable and cannot be estimated at this time, accordingly, we have not recorded a liability for this matter. On October 14, 2021, Vincent Varbaro, a purported holder of Piedmont Australia’s American Depositary Shares and the Company’s equity securities, filed a shareholder derivative suit in the U.S. District Court for the Eastern District of New York, purporting to bring claims on behalf of the Company against certain of the Company’s officers and directors. The complaint alleges that the defendants breached their fiduciary duties in connection with the Company’s statements regarding the timing and status of government permits for Carolina Lithium in North Carolina, at various times between March 16, 2018 and July 19, 2021. No litigation demand was made to the Company in connection with this action. In December 2021, the parties agreed to a stipulation to stay the proceeding pending resolution of the motion to dismiss in the securities law matters described in the immediately preceding paragraph, and the Court ordered the case stayed. We intend to vigorously defend against these claims. Although there can be no assurance as to the outcome, we do not believe these claims have merit. The potential monetary relief, if any, is not probable and cannot be estimated at this time; accordingly, we have not recorded a liability for this matter. On July 5, 2022, Brad Thomascik, a purported shareholder of the Company’s equity securities, filed a shareholder derivative lawsuit in the U.S. District Court for the Eastern District of New York. On behalf of the Company, the lawsuit purports to bring claims against certain of the Company’s officers and directors. The complaint alleges that the defendants breached their fiduciary duties in connection with the Company’s statements regarding the timing and status of government permits for Carolina Lithium in North Carolina at various times between March 16, 2018 and July 19, 2021. No litigation demand was made to the Company in connection with this action. The lawsuit focuses on the same public statements as the shareholder derivative suit described above. On September 15, 2022, the parties jointly agreed to and filed a stipulation to stay the proceeding pending resolution of the motion to dismiss in the securities law matters described in the second paragraph of this section. The Court has not yet entered the order. We intend to vigorously defend against these claims. Although there can be no assurance as to the outcome, we do not believe these claims have merit. The potential monetary relief, if any, is not probable and cannot be estimated at this time; accordingly, we have not recorded a liability for this matter.

RELATED PARTIES

RELATED PARTIES	12 Months Ended
	Dec. 31, 2022
Related Party Transactions [Abstract]
RELATED PARTIES	RELATED PARTIESLedger Holdings Pty Ltd, a company associated with a former non-executive director of the Company was paid $91,667 and $90,734 during the years ended June 30, 2021 and 2020, respectively, for services related to business development activities. These fees and associated payments were included in the former director’s remuneration. Effective June 1, 2021, the director's term ended. We have no other significant or material related party transactions during the periods presented.

TRANSITION PERIOD COMPARATIVE D

TRANSITION PERIOD COMPARATIVE DATA	12 Months Ended
	Dec. 31, 2022
Transition Period Comparative Data [Abstract]
TRANSITION PERIOD COMPARATIVE DATA	TRANSITION PERIOD COMPARATIVE DATA As discussed in Note 1— Description of Company , effective January 1, 2022, we changed our fiscal year end from June 30 to December 31. The six-month period from July 1, 2021, to December 31, 2021, served as a transition period. For comparative purposes, the consolidated statements of operations and cash flows for the six months ended December 31, 2021 and 2020, are summarized below. All data for the six months ended December 31, 2020, was derived from the Company’s unaudited consolidated financial statements. Six Months Ended 2021 2020 Operating expenses: Exploration and mine development costs $ 9,628,803 $ 3,572,166 General and administrative expenses 10,956,005 2,174,023 Total operating expenses 20,584,808 5,746,189 Loss from equity investments in unconsolidated affiliates (642,135) — Loss from operations (21,226,943) (5,746,189) Other income (expense) : Interest expense, net (112,869) (138,801) (Loss) gain from foreign currency exchange (8,543) 100,152 Loss before taxes and equity earnings (21,348,355) (5,784,838) Income tax expense — — Net loss $ (21,348,355) $ (5,784,838) Basic and diluted net loss per weighted-average share $ (1.35) $ (0.47) Basic and diluted weighted-average number of shares outstanding 15,868,521 12,205,057 Six Months Ended 2021 2020 Cash flows from operating activities: Net loss $ (21,348,355) $ (5,784,838) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation 8,697 8,836 Stock-based compensation 2,003,116 301,077 Noncash lease expense 78,878 53,834 Loss on equity investments in unconsolidated affiliates 642,135 — Changes in operating assets and liabilities: Other assets (717,101) (212,398) Operating lease liabilities (81,005) (74,233) Accounts payable (1,299,090) 1,465,370 Accrued expenses and other current liabilities 3,038,552 708,543 Net cash used in operating activities (17,674,173) (3,533,809) Cash flows from investing activities: Purchase of mining interests (12,464,238) (5,076,816) Capital expenditures (35,145) (13,740) Advances on the Ewoyaa Project (Ghana) (4,310,173) — Purchase of equity investments in unconsolidated affiliates (43,603,824) — Net cash used in investing activities (60,413,380) (5,090,556) Cash flows from financing activities: Proceeds from issuance of common stock, net of issuance costs — 60,876,241 Proceeds from exercise of stock options 557,100 132,895 Principal payments on long-term debt (876,212) (304,865) Net cash (used in) provided by financing activities (319,112) 60,704,271 Net (decrease) increase in cash (78,406,665) 52,079,906 Cash and cash equivalents at beginning of period 142,651,648 18,857,088 Cash and cash equivalents at end of period $ 64,244,983 $ 70,936,994 Supplemental disclosure of cash flow information: Cash paid for interest $ 112,869 $ 156,208 Noncash acquisitions of mining interests financed by sellers 241,002 669,500

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2022
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS In February 2023, we received $75 million from LG Chem, Ltd (“LG Chem”) in exchange for common shares in Piedmont Lithium in conjunction with a multi-year spodumene concentrate offtake agreement. • LG Chem purchased 1,096,535 newly issued shares of Piedmont Lithium’s common stock at an approximate price of $68.40 per share for a total consideration of $75 million; and closing of the Subscription Agreement occurred on February 24, 2023 which resulted in LG Chem holding approximately 5.7% of Piedmont Lithium’s common shares. • The spodumene concentrate offtake agreement commits us to sell 200,000 metric tons of spodumene concentrate from our offtake agreement with Sayona Quebec. The term of the agreement expires four years from the date of first shipment, which is anticipated to occur by the third quarter of 2023, with the final shipment expected in the third quarter of 2027. Pricing is determined by a market-based mechanism. In January 2023, we entered into an amended offtake agreement with Tesla, Inc. (“Tesla”) to provide spodumene concentrate from NAL in Quebec. The agreement commits us to sell 125,000 metric tons of spodumene concentrate from our offtake agreement with Sayona Quebec. The term of the agreement is three years, beginning on January 2, 2023, with the start-of-production in the second half of 2023 through the end of 2025, and pricing is determined by a market-based mechanism.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Change in Fiscal Year End	Change in Fiscal Year-End Effective January 1, 2022, we changed our fiscal year end from June 30 to December 31. The six-month period from July 1, 2021, to December 31, 2021, served as a transition period. Our fiscal year for 2022 commenced on January 1, 2022, and ended on December 31, 2022. Unless otherwise noted, all references to “years” in this report refer to the twelve-month fiscal year, which prior to July 1, 2021 ended on June 30 and beginning after January 1, 2022 ends on December 31 of each year.
Basis of Presentation	Basis of Presentation Our consolidated financial statements and related notes have been prepared on the accrual basis of accounting in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”) and in conformity with the rules and regulations of the Securities and Exchange Commission (the “SEC”). The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. Unless otherwise indicated, all references to “$” are to U.S. dollars, and all references to “AUD” are to Australian dollars. Our reporting currency is U.S. dollars. Certain prior period amounts have been reclassified to conform with the current period presentation including reclassification of the Company’s proportional share of income in equity investments into operating income. See Note 4— Equity Method Investments in Unconsolidated Affiliates for further discussion. Piedmont Lithium acquired all of the issued and outstanding ordinary shares of Piedmont Lithium Pty Ltd (formerly named Piedmont Lithium Limited) (“Piedmont Australia”), our Australian predecessor and currently a wholly-owned subsidiary, pursuant to a Scheme of Arrangement under Australian law, which was approved by Piedmont Australia’s shareholders on February 26, 2021 and by the Supreme Court of Western Australia on May 5, 2021 (collectively referred to as “Redomiciliation”). As part of the Redomiciliation, we changed our place of domicile from Australia to the state of Delaware in the U.S., effective May 17, 2021. Piedmont Australia’s ordinary shares were listed on the Australian Securities Exchange (“ASX”), and Piedmont Australia’s American Depositary Shares (“ADSs”), each representing 100 of Piedmont Australia’s ordinary shares, were traded on the Nasdaq Capital Market (“Nasdaq”). Following the approval of the Redomiciliation, we moved the primary listing of our shares of common stock from the ASX to Nasdaq and retained an ASX listing via Chess Depositary Interests (“CDIs”), each representing 1/100th of a share of common stock of Piedmont Lithium Inc.
Redomiciliation	Piedmont Lithium acquired all of the issued and outstanding ordinary shares of Piedmont Lithium Pty Ltd (formerly named Piedmont Lithium Limited) (“Piedmont Australia”), our Australian predecessor and currently a wholly-owned subsidiary, pursuant to a Scheme of Arrangement under Australian law, which was approved by Piedmont Australia’s shareholders on February 26, 2021 and by the Supreme Court of Western Australia on May 5, 2021 (collectively referred to as “Redomiciliation”). As part of the Redomiciliation, we changed our place of domicile from Australia to the state of Delaware in the U.S., effective May 17, 2021. Piedmont Australia’s ordinary shares were listed on the Australian Securities Exchange (“ASX”), and Piedmont Australia’s American Depositary Shares (“ADSs”), each representing 100 of Piedmont Australia’s ordinary shares, were traded on the Nasdaq Capital Market (“Nasdaq”). Following the approval of the Redomiciliation, we moved the primary listing of our shares of common stock from the ASX to Nasdaq and retained an ASX listing via Chess Depositary Interests (“CDIs”), each representing 1/100th of a share of common stock of Piedmont Lithium Inc.
Risk and Uncertainties	Risk and Uncertainties We are subject to a number of risks similar to those of other companies of similar size in our industry, including but not limited to, the success of our exploration and development activities, success of our equity investments in international projects, construction and permitting delays, the need for additional capital or financing to fund operating losses, competition from substitute products and services from larger companies, protection of proprietary technology, litigation, and dependence on key individuals. We have accumulated deficits of $105.7 million, and $92.7 million as of December 31, 2022 and December 31, 2021, respectively. We have incurred net losses and utilized cash in operations since inception, and we expect to incur future additional losses. We have cash available on hand and believe this cash will be sufficient to fund our operations and meet our obligations as they come due for at least one year from the date these consolidated financial statements are issued. In the event our cash requirements change during the next twelve months, management has the ability and commitment to make corresponding changes to our operating expenses as necessary. Until commercial production is achieved from our planned operations, we will continue to incur operating and investing net cash outflows associated with, among other things, funding capital projects, development stage technical studies, permitting activities associated with our projects, funding our commitments in Quebec and Ghana, maintaining and acquiring exploration properties and undertaking ongoing exploration activities. Our long-term success is dependent upon our ability to successfully raise additional capital or financing or enter into strategic partnership opportunities. Our long-term success is also dependent upon our ability to obtain certain permits and approvals, develop our planned portfolio of projects, earn revenues, and achieve profitability. Our consolidated financial statements have been prepared on a going-concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business.
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates, assumptions, and allocations that affect amounts reported in the consolidated financial statements and related notes. Significant items that are subject to such estimates and assumptions include, but are not limited to, long-lived assets, fair value of stock-based compensation awards, income tax uncertainties, valuation of deferred tax assets, contingent assets and liabilities, legal claims, asset impairments and environmental remediation. Actual results could differ due to the uncertainty inherent in the nature of these estimates. We base our estimates and assumptions on current facts, historical experience and various other factors that we believe to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. Actual results may differ materially and adversely from our estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected.
Cash and Cash Equivalents	Cash and Cash Equivalents We consider all highly liquid instruments with a maturity of three months or less at the time of issuance to be cash equivalents. We maintain cash deposits with high credit quality financial institutions. The deposits with these financial institutions may exceed the federally insured limits; however, these deposits typically are redeemable upon demand. We have not experienced any losses because of these deposits and do not expect to incur any losses in the future.
Mining Interests	Mining Interests Mining interests are recorded at cost and include land acquisition payments and land option payments to landowners, which include legal fees and other direct costs to enter into these contract agreements. We own land, specifically surface properties and the associated mineral rights, as part of Carolina Lithium in the U.S., specifically in North Carolina. We have entered into exclusive option agreements or land acquisition agreements, which upon exercise, allow us to purchase, or in some cases lease, surface properties and the associated mineral rights in North Carolina from landowners. For those properties under option, no liability is recorded until we are certain of exercising the option. Mining interests in the exploration and development stage are not amortized until the underlying property is converted to the production stage, at which point the mining interests are depleted over the estimated recoverable proven and probable reserves. Development stage mining interests represent interests in properties under development that contain proven and probable reserves. Exploration stage mining interests represent interests in properties that are believed to potentially contain mineralized material consisting of: (i) mineralized material within pits; mineralized material with insufficient drill spacing to qualify as proven and probable reserves as well as and mineralized material in close proximity to proven and probable reserves; (ii) around-mine exploration potential not immediately adjacent to existing reserves and mineralization, but located within the immediate mine area; (iii) other mine-related exploration potential that is not part of current mineralized material and is comprised mainly of material outside of the immediate mine area; (iv) greenfield exploration potential that is not associated with any other production, development or exploration stage property, as described above; or (v) any acquired right to explore or extract a potential mineral deposit. The Company’s mineral rights generally are enforceable regardless of whether proven and probable reserves have been established.
Mine Development	Mine Development Mine development assets include engineering and metallurgical test-work, drilling and other related costs to delineate an ore body, and the removal of overburden to initially expose an ore body at open pit surface mines. Costs incurred before mineral resources are classified as proven and probable reserves are expensed and recorded to “Exploration and mine development costs” in our statements of operations. Capitalization of mine development project costs begins once mineral resources are classified as proven and probable reserves. Drilling and related costs are capitalized for an ore body where proven and probable reserves exist and the activities are directed at obtaining additional information on the ore body or converting mineralized material to proven and probable reserves. All other drilling and related costs are expensed as incurred. The cost of removing overburden and waste materials to access the ore body at an open pit mine prior to the production phase are referred to as pre-stripping costs. Pre-stripping costs will be capitalized during the development of an open pit mine. The removal, production, and sale of de minimis salable materials may occur during the development phase of an open pit mine and are assigned incremental mining costs related to the removal of that material. Mine development assets will be depleted using the units-of-production method based on estimated recoverable metric tons in proven and probable reserves. To the extent that these costs benefit an entire ore body, they will be depleted over the estimated life of the ore body. As of December 31, 2022, we had no projects in the production phase, and we did not record depletion expense for any of our mine development assets.
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment is recorded at cost, net of accumulated depreciation and depletion. Depreciation is computed on a straight-line basis over the estimated useful lives.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets Assets that are subject to depreciation, depletion or amortization are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable, or for non-depreciable assets in accordance with ASC Topic 360, “ Property, Plant, and Equipment .” Circumstances which could trigger a review include, but are not limited to: significant decreases in the market price of the asset; significant adverse changes in the business climate or legal factors; accumulation of costs significantly in excess of the amount originally expected for the acquisition or construction of the asset; current period cash flow or operating loss combined with a history of losses or a forecast of continuing losses associated with the use of the asset; and current expectation that the asset will more likely than not be sold or disposed before the end of its estimated useful life.
Asset Retirement Obligations	Asset Retirement Obligations We follow the provisions of ASC Topic 410 , “ Asset Retirement and Environmental Obligations, ” which establishes standards for the initial measurement and subsequent accounting for obligations associated with the sale, abandonment or other disposal of long-lived tangible assets arising from the acquisition, construction or development and for normal operations of such assets. We record the fair
Exploration and Mine Development Costs	Exploration and Mine Development Costs We incur costs in resource exploration, evaluation and development during the different phases of our resource development projects. Exploration costs incurred before the declaration of proven and probable resources, which primarily include exploration, drilling, engineering, metallurgical test-work, and compensation for employees associated with exploration activities, are expensed as incurred. We have also expensed as incurred engineering costs attributable to the evaluation of land for our future concentrator and chemical plants, development project management costs, feasibility studies and other project expenses that do not qualify for capitalization. After proven and probable resources are declared, exploration and mine development costs necessary to bring the property to commercial capacity or increase the capacity or useful life are capitalized.
Foreign Currencies	Foreign Currencies These consolidated financial statements have been presented in U.S. dollars, which is our reporting currency. Effective June 30, 2020, we adopted the U.S. dollar as our functional currency, triggered by an increased exposure to the U.S. dollar, as our future operating and capital costs are expected to be in U.S. dollars. The change in functional currency was applied prospectively from June 30, 2020 in accordance with U.S. GAAP. Gains and losses arising from translations or settlements of foreign currency denominated transactions or balances are included in the determination of income. Foreign currency translation adjustments resulting from the change in functional currency are included in “Other comprehensive income (loss), net of tax,” and gains and losses resulting from foreign currency transactions are presented in “(Loss) gain from foreign currency exchange” in in our consolidated financial statements.
Loss per Share	Loss per Share We compute loss per share in accordance with ASC Topic 260, “Earnings per Share.” Basic net loss per common share is computed by dividing net loss by the weighted-average number of shares of common shares outstanding during the period. Diluted net loss per share of common stock is computed by giving effect to all potential dilutive shares of common stock, including options, restricted stock units and performance awards. Basic and diluted net loss per share of common stock were the same for all periods presented as the impact of all potentially dilutive securities outstanding was anti-dilutive.
Revenue Recognition	Revenue Recognition We are a development stage company and have no revenues. Specific evaluations described in ASC Topic 606, “Revenue from Contracts with Customers,” will be performed once we begin earning revenues. In accordance with ASC Topic 606, revenue will be measured as the amount of consideration received in exchange for transferring goods or providing services, and will be recognized when performance obligations are satisfied under the terms of contracts with customers. A performance obligation will be deemed to be satisfied when control of the product is transferred to the customer.
Stock-based Compensation	Stock-based Compensation We record stock-based compensation in accordance with ASC Topic 718, “Stock Compensation.” Equity-settled stock-based payments are provided to directors, officers, employees, consultants and other advisors. These stock-based payments are measured at the fair value of the equity instrument at the grant date in accordance with ASC Topic 718. Fair value is determined using the Black-Scholes valuation model. We have applied a graded (tranche-by-tranche) attribution method and record stock-based compensation expense on an accelerated basis over the vesting period of the share award. Forfeitures are accounted for in the period incurred.
Fair Value of Financial Instruments	Fair Value of Financial Instruments Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. We follow ASC Topic 820, “Fair Value Measurement and Disclosure,” which establishes a three-level valuation hierarchy for disclosure of fair value measurements. The valuation hierarchy categorizes assets and liabilities measured at fair value into one of three different levels depending on the observability of the inputs employed in the measurement. The three levels are defined as follows: Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2: Inputs other than quoted prices included within Level 1 that are either directly or indirectly observable for the asset or liability, including quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in inactive markets, inputs other than quoted prices that are observable for the asset or liability and inputs that are derived from observable market data by correlation or other means. Level 3: Inputs for the asset or liability that are not based on observable market data (unobservable inputs). The level within which the financial asset or liability is classified is determined based on the lowest level of significant input to the fair value measurement. Measurement of Fair Value Our material financial instruments consist primarily of cash and cash equivalents, investments in equity securities, trade and other payables, and long-term debt as follows: • Long-term debt—As of December 31, 2022 and 2021, we had $0.6 million and $1.7 million, respectively, of principal debt outstanding associated with seller financed loans. The carrying value of our long-term debt approximates its estimated fair value. • As of December 31, 2022 and 2021, we had $0.5 million and $0.5 million, respectively, of investments in equity securities which are recorded at fair value based on Level 3 inputs. See Note 5— Other Assets . • Other financial instruments—The carrying amounts of cash and cash equivalents and trade and other payables approximate fair value due to their short-term nature. Level 3 activity was not material for all periods presented.
Income Taxes	Income Taxes We account for income taxes using the asset and liability method. Under the asset and liability method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. In addition, deferred tax assets are also recorded with respect to net operating losses and other tax attribute carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. Valuation allowances are established when realization of the benefit of deferred tax assets is not deemed to be more likely than not. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. We intend to continue maintaining a valuation allowance on our deferred tax assets if, in our judgement, it appears that is is more likely than not that all or some portion of the asset will not be realized. When assessing the need for a valuation allowance, we considered all available evidence, including all potential sources of taxable income, future reversals of taxable temporary differences, projections of taxable income, and income from tax planning strategies, as well as any other available and relevant information. Existing valuation allowances are re-examined each period. If it were determined that it is more likely than not that a deferred tax asset will be realized, the appropriate amount of the valuation allowance, if any, would be released in the period this determination is made. We only recognize a tax benefit after concluding that it is more likely than not that the benefit will be sustained upon audit by the respective taxing authority based solely on the technical merits of the associated tax position. Once the recognition threshold is met, we recognize a tax benefit measured as the largest amount of the tax benefit that, in our judgment, is greater than 50% likely to be realized. Interest and penalties related to income tax liabilities are included in “Income tax expense (benefit)” in our consolidated statements of operations.
Equity Method Investments in Unconsolidated Affiliates	Equity Method Investments in Unconsolidated Affiliates We apply the equity method of accounting for investments when we have significant influence, but not controlling interest in the investee. Judgment regarding the level of influence over each equity method investment includes key factors such as ownership interest, representation on the board of directors, participation in policy-making decisions, operational decision-making authority, and material intercompany transactions. In applying the equity method, we record the investment at cost and subsequently increase or decrease the carrying amount of the investment by our proportionate share of the net earnings or losses and other comprehensive income of the investee, adjusted for differences between their local GAAP and U.S. GAAP. Our investment balance is also adjusted for currency translation adjustments representing fluctuations between the functional currency of the investees. The carrying value of our equity method investments is reported as “Equity method investments in unconsolidated affiliates”, adjustments related to foreign currency adjustments and our proportional shares of other comprehensive income (loss) is reported in “Accumulated other comprehensive loss” in our consolidated balance sheets. For all equity method investments, we record our share of an investee’s income or loss on a one quarter lag. We evaluate material events occurring during the quarter lag to determine whether the effects of such events should be disclosed in our financial statements. We classify distributions received from equity method investments using the cumulative earnings approach on our consolidated statements of cash flows. A change in our proportionate share of an investee’s equity resulting from issuance of common shares or in-substance common shares by the investee to third parties is recorded as a gain or loss in our consolidated statements of operations in accordance with ASC Topic 323, “ Investments-Equity Method and Joint Ventures,” (Subtopic 10-40-1). We assess investments for impairment whenever events or changes in circumstances indicate that the carrying value of an investment may not be recoverable. If the decline in value is considered to be other than temporary, the investment is written down to its estimated fair value, which establishes a new cost basis in the investment. We did not record any such impairment charges for any periods presented.
Leases	Leases We account for leases in accordance with ASC Topic 842, “Lease s, ” which requires lessees to recognize lease liabilities and right-of-use (“ROU”) assets on the balance sheet for contracts that provide lessees with the right to control the use of identified assets. As part of this adoption, we made certain accounting policy elections which are detailed in the recently adopted accounting pronouncements sub-section in Note 7— Leases, to the consolidated financial statements in our Annual Report. We evaluate whether our contractual arrangements contain leases at the inception of such arrangements. Specifically, management considers whether we control the underlying asset and have the right to obtain substantially all of the economic benefits or outputs from the asset. ROU lease assets represent our right to use an underlying asset for the lease term, and lease liabilities represent the obligation to make lease payments. Both the ROU lease asset and liability are recognized as of the lease commencement date based on the present value of the lease payments over the lease term. Our leases do not provide an implicit borrowing rate that can readily be determined. Therefore, we apply a discount rate based on the incremental borrowing rate, which is determined using our synthetic credit rating and other information available as of the lease commencement date. ROU lease assets also include any lease payments made before their contractual due dates and exclude any lease incentives. Our lease agreements may include options to extend the lease term or to terminate the lease early. We include options to extend or terminate leases upon determination of the ROU lease asset and liability when we are reasonably certain we will exercise these options. Operating lease expense attributable to lease payments is recognized on a straight-line basis over the lease term and is included in “Exploration and mine development costs” in the consolidated statements of operations.
Recently Issued and Adopted Accounting Pronouncements	Recently Issued and Adopted Accounting Pronouncements We have considered the applicability and impact of accounting pronouncements that have been issued by the FASB and other standard setting organizations which are not yet effective and which we have not yet adopted. The impact on our financial position and results of operations from adoption of these standards is not expected to be material.

PROPERTY, PLANT AND MINE DEVE_2

PROPERTY, PLANT AND MINE DEVELOPMENT (Tables)	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment, Net	Property, plant and mine development, net, is presented in the following table: December 31, December 31, Mining interests $ 56,119,627 $ 39,303,043 Mine development 3,050,239 — Land 720,033 688,829 Leasehold improvements 281,008 — Facilities and equipment 675,795 107,248 Construction in process 10,779,566 — Property, plant and mine development 71,626,268 40,099,120 Accumulated depreciation (85,470) (43,766) Property, plant and mine development, net $ 71,540,798 $ 40,055,354

EQUITY METHOD INVESTMENTS IN _2

EQUITY METHOD INVESTMENTS IN UNCONSOLIDATED AFFILIATES (Tables)	12 Months Ended
	Dec. 31, 2022
Equity Method Investments and Joint Ventures [Abstract]
Summary of Equity Method Investments	The following tables summarize the carrying amounts, including changes therein, of our equity method investments: Sayona Mining Sayona Quebec Atlantic Lithium Total Initial investment (1) $ 11,290,819 $ 5,067,593 $ — $ 16,358,412 Loss from equity method investments (64,626) — — (64,626) Share of income (loss) from equity method investments included in other comprehensive income (loss) (31,288) — — (31,288) Balance at June 30, 2021 11,194,905 5,067,593 — 16,262,498 Initial investment (2) — — 15,969,503 15,969,503 Additional investments (3) 7,423,086 20,211,235 — 27,634,321 Return of capital (4) — — (513,511) (513,511) Loss from equity method investments (525,679) (62,977) (53,479) (642,135) Share of income (loss) from equity method investments included in other comprehensive income (loss) 164,176 — (2,142) 162,034 Balance at December 31, 2021 18,256,488 25,215,851 15,400,371 58,872,710 Additional investments (5) 1,444,855 19,617,242 — 21,062,097 Gain (loss) on dilution of equity method investments (6) 29,401,727 — (446,834) 28,954,893 Loss from equity method investments (3,104,926) (2,499,064) (2,748,300) (8,352,290) Share of income (loss) from equity method investments included in other comprehensive income (loss) (1,378,740) (2,571,021) (939,847) (4,889,608) Balance at December 31, 2022 $ 44,619,404 $ 39,763,008 $ 11,265,390 $ 95,647,802 ____________________________________________________________________________ (1) Initial investment includes transaction costs of $212,713 for the year ended June 30, 2021. (2) Initial investment includes transaction costs of $111,071 for the six months ended December 31, 2021. (3) Additional investment includes transaction costs of $171,379 for the six months ended December 31, 2021. (4) In December 2021, Atlantic Lithium demerged its gold business assets by exchanging them for shares in a newly formed company, Ricca Resources Limited. The shares in Ricca Resources Limited received were distributed to the shareholders of Atlantic Lithium and treated as a return of capital. (See Note 5 —Other Assets ). (5) Additional investments in Sayona Quebec totaling $5,683,894 have been made beginning January 1, 2023 through the date of this filing. (6) Gain (loss) on dilution of equity method investments relates to: (i) issuances of additional shares of Sayona Mining, as discussed above, which reduced our ownership interest in Sayona Mining, and as a result, we recognized a noncash gain of $29.4 million and (ii) the exercise of certain Atlantic Lithium stock options and share grants which resulted in a reduction of our ownership in Atlantic Lithium. Our ownership percentage for Sayona Mining and Atlantic Lithium may continue to be reduced by future stock issuances. As of December 31, 2022 Sayona Mining Sayona Quebec Atlantic Lithium Fair value of equity investments where market values from publicly traded entities are readily available $ 157,271,908 Not publicly traded $ 24,885,000 The following tables present summarized financial information included in our share of income (loss) from equity method investments noted above for our significant equity investments. The balances below were compiled from information provided to us by each investee and are presented in accordance with U.S. GAAP: Summarized financial information for the year ended and as of December 31, 2022: Sayona Mining Sayona Quebec Atlantic Lithium Summarized statement of operations information: Revenue $ — $ — $ — Net loss from operations (19,274,044) (9,996,260) (39,801,057) Other comprehensive income (loss), net of tax 10,424,036 179,041 (32,483) Comprehensive loss (8,850,008) (9,817,219) (39,833,540) Summarized balance sheet information: Current assets 122,252,635 24,869,403 19,393,500 Non-current assets 237,656,191 147,953,912 1,074,079 Current liabilities 5,299,124 3,194,978 3,895,742 Non-current liabilities 57,987,101 88,183,972 15,612,992 Summarized financial information for the six months ended and as of December 31, 2021: Sayona Mining Sayona Quebec Atlantic Lithium Summarized statement of operations information: Revenue $ — $ — $ — Net loss from operations (2,692,205) (251,909) (539,649) Other comprehensive income (loss), net of tax 844,581 — (21,619) Comprehensive loss (1,847,624) (251,909) (561,268) Summarized balance sheet information: Current assets 18,302,011 712,057 24,332,412 Non-current assets 99,752,858 97,957,054 43,422,205 Current liabilities 2,071,478 917,461 3,354,029 Non-current liabilities 23,048 — — Summarized financial information for the year ended and as of June 30, 2021: Sayona Mining Summarized statement of operations information: Revenue $ — Net loss from operations (324,754) Other comprehensive income (loss), net of tax (157,224) Comprehensive loss (481,979) Summarized balance sheet information: Current assets 9,710,517 Non-current assets 17,718,789 Current liabilities 4,746,137 Non-current liabilities 24,285

OTHER ASSETS (Tables)

OTHER ASSETS (Tables)	12 Months Ended
	Dec. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Current Assets	Other current assets consisted of the following: December 31, December 31, Investments in equity securities $ 483,836 $ 513,511 Prepaid assets and other receivables 2,128,005 2,001,091 Total other current assets $ 2,611,841 $ 2,514,602
Schedule of Other Non-current Assets	Other non-current assets consisted of the following: December 31, December 31, Advances on exploration project $ 17,316,440 $ 4,310,173 Other non-current assets 263,845 190,030 Operating lease right-of-use assets 1,293,394 60,919 Total other non-current assets $ 18,873,679 $ 4,561,122

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Schedule of Long-term Debt Agreements	The outstanding balances of our long-term debt agreements were as follows: December 31, December 31, Current portion of long-term debt $ 425,187 $ 762,189 Long-term debt, net of current portion 163,425 914,147 Total long-term debt $ 588,612 $ 1,676,336 We paid interest on our long-term debt as follows: Year Ended Six Months Ended Years Ended June 30, 2021 2020 Interest paid $ 115,029 $ 112,869 $ 271,264 $ 107,569
Schedule of Maturities of Long-term Debt	Scheduled payments for the principal portion of our outstanding long-term debt are as follows: December 31, 2023 $ 425,187 2024 148,910 2025 14,515 2026 — Total $ 588,612

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Components of Lease Costs and Other Lease Information	Lease presentation in our consolidated balance sheets, components of lease costs and other lease information are presented in the following table: December 31, December 31, Assets: Right-of-use assets - operating lease $ 1,293,394 $ 60,919 Liabilities: Current 124,464 59,430 Non-current 1,176,709 — Operating lease liabilities $ 1,301,173 $ 59,430 Year Ended Six Months Ended Years Ended June 30, 2021 2020 Statements of operations: Operating lease cost $ 152,617 $ 84,228 $ 165,456 $ 156,456 Short-term lease cost 105,914 66,592 78,583 32,673 Sublease income 51,255 61,506 120,752 29,906 Other information: Right-of-use assets obtained in exchange for new operating lease liabilities $ 1,339,203 $ — $ 14,921 $ 391,549 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 143,349 $ 86,356 $ 165,817 $ 152,251 Weighted-average remaining lease term (in months) 80 3 11 23 Weighted-average discount rate 10% 10% 10% 10%
Assets and Liabilities, Lessee	Lease presentation in our consolidated balance sheets, components of lease costs and other lease information are presented in the following table: December 31, December 31, Assets: Right-of-use assets - operating lease $ 1,293,394 $ 60,919 Liabilities: Current 124,464 59,430 Non-current 1,176,709 — Operating lease liabilities $ 1,301,173 $ 59,430 Year Ended Six Months Ended Years Ended June 30, 2021 2020 Statements of operations: Operating lease cost $ 152,617 $ 84,228 $ 165,456 $ 156,456 Short-term lease cost 105,914 66,592 78,583 32,673 Sublease income 51,255 61,506 120,752 29,906 Other information: Right-of-use assets obtained in exchange for new operating lease liabilities $ 1,339,203 $ — $ 14,921 $ 391,549 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 143,349 $ 86,356 $ 165,817 $ 152,251 Weighted-average remaining lease term (in months) 80 3 11 23 Weighted-average discount rate 10% 10% 10% 10%
Maturities of Lease Payments under Non-cancellable Leases	Maturities of lease payments under non-cancellable leases are as follows: December 31, 2022 2023 $ 249,060 2024 256,532 2025 264,228 2026 272,155 2027 280,320 Thereafter 485,027 Total future minimum lease payments 1,807,322 Interest included within lease payments (506,149) Total operating lease liabilities $ 1,301,173

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation Expense	Stock-based compensation related to all stock-based incentive plans is presented in the following table: Year Ended Six Months Ended Years Ended June 30, 2021 2020 Components of stock-based compensation: Stock-based compensation $ 4,630,345 $ 2,003,116 $ 1,319,372 $ 470,939 Stock-based compensation forfeitures (858,651) — — — Stock-based compensation, net of forfeitures $ 3,771,694 $ 2,003,116 $ 1,319,372 $ 470,939 Presentation of stock-based compensation in the consolidated financial statements: Exploration and mine development costs $ 161,051 $ 687,695 $ 495,031 $ 171,151 General and administrative expenses 3,328,914 1,315,421 824,341 299,788 Stock-based compensation expense, net of forfeitures (1) 3,489,965 2,003,116 1,319,372 470,939 Capitalized stock-based compensation (2) 281,729 — — — Stock-based compensation, net of forfeitures $ 3,771,694 $ 2,003,116 $ 1,319,372 $ 470,939 __________________________ (1) We did not reflect a tax benefit associated with stock-based compensation expense in the consolidated statements of operations because we had a full tax valuation allowance during these periods. As such, the table above does not reflect the tax impacts of stock-based compensation expense. (2) These costs relate to direct labor costs associated with our Tennessee operations and Carolina Lithium projects and are included in “Property, plant and mine development, net” in our consolidated balance sheets.
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	The following assumptions were used to estimate the fair value of stock options granted during the periods presented below: Years Ended December 31, June 30, June 30, Expected life of options (in years) 5.3 - 6.4 5.3 - 6.3 2.7 - 2.8 Risk-free interest rate 1.1% - 3.4% 0.9% - 1.2% 0.3% - 0.5% Assumed volatility 50% 50% 70% Expected dividend rate 0% 0% 0%
Share-Based Payment Arrangement, Activity	A summary of activity relating to our share-based awards is reflected in the following table: Stock Option Awards Weighted- Restricted Stock Units Weighted- Performance Rights Awards Weighted- June 30, 2019 846,500 $ 13.77 — $ — 500 $ 5.41 Granted 259,500 16.15 — — 75,000 4.51 Exercised or surrendered (315,000) 7.71 — — (25,000) 4.51 Expired/Vested (254,750) 17.13 — — (500) 5.41 June 30, 2020 536,250 16.88 — — 50,000 5.20 Granted 135,004 35.14 36,745 64.08 10,000 6.50 Exercised or surrendered (15,000) 12.38 — — — — Expired/Vested (263,750) 15.97 — — — — June 30, 2021 392,504 21.16 36,745 64.08 60,000 5.42 Granted — — 14,532 59.17 — — Exercised or surrendered (120,000) 13.93 — — — — Forfeited — — — — (5,000) 6.50 Expired/Vested — — — — (25,000) 5.20 December 31, 2021 272,504 24.34 51,277 59.17 30,000 5.42 Granted 194,906 55.00 28,664 54.24 49,468 54.13 Exercised or surrendered (182,500) 14.92 (26,004) 58.33 — — Forfeited (19,458) 38.74 (17,770) 66.77 (35,000) 12.20 Expired/Vested (719) 65.00 — — — — December 31, 2022 264,733 $ 52.23 36,167 $ 57.12 44,468 $ 54.27 Vested at December 31, 2022 75,231 $ 47.30 December 31, 2022 Option Shares Outstanding Option Shares Vested Weighted average remaining contractual term (in years) 1.04 0.72 Aggregate intrinsic value of share options $ — $ —

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	12 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Loss per Share	Basic and diluted net loss per share is reflected in the following table: Year Ended Six Months Ended Years Ended June 30, 2021 2020 Net loss $ (12,974,674) $ (21,348,355) $ (19,993,848) $ (5,879,152) Weighted-average number of common shares used in calculating basic and dilutive earnings per share 17,517,678 15,868,521 13,551,150 8,283,567 Basic and diluted net loss per weighted-average share $ (0.74) $ (1.35) $ (1.48) $ (0.71)
Schedule of Antidilutive Securities Excluded from Calculation of Diluted Net Loss Per Share	The potentially dilutive and anti-dilutive shares not included in diluted net loss per share are presented in the following table: Year Ended Six Months Ended Years Ended June 30, 2021 2020 Stock options 264,733 272,504 392,504 536,250 RSUs 36,167 51,277 36,745 — PRAs 44,468 30,000 60,000 50,000 Total potentially dilutive shares 345,368 353,781 489,249 586,250

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Schedule of Components of Loss before Income Taxes and Equity in Net Loss of Unconsolidated Investments	Loss before income taxes and current and deferred income tax expense are composed of the following: Year Ended Six Months Ended Years Ended June 30, 2021 2020 Income (loss) before income taxes: Domestic $ (31,650,816) $ (20,656,738) $ (17,601,419) $ (5,424,724) Foreign 21,815,406 (691,617) (2,392,429) (454,428) Total $ (9,835,410) $ (21,348,355) $ (19,993,848) $ (5,879,152)
Schedule of Effective Income Tax Rate Reconciliation	The reconciliation of the U.S. federal statutory tax rate to our effective income tax rate is as follows: Year Ended Six Months Ended Years Ended June 30, 2021 2020 Pre-tax loss $ (9,835,410) $ (21,348,355) $ (19,993,848) $ (5,879,152) Benefit at statutory rate (21%) (2,065,436) (4,483,155) (4,198,708) (1,234,622) Foreign rate differential 1,963,387 (62,246) (22,160) (13,801) Non-deductible transaction costs — — 299,965 — Permanent items (162,114) (102,837) 141,223 63,229 Foreign exchange differences (840,469) 17,464 — — Branch deferred taxes 4,003,454 — — — State taxes 511,370 508,600 (985,983) (338,078) Other adjustments — 290,312 — — Change in valuation allowance (270,928) 3,831,862 4,765,663 1,523,272 Income tax expense $ 3,139,264 $ — $ — $ —
Schedule of Deferred Tax Assets and Liabilities	Deferred income tax assets and liabilities recorded in the consolidated balance sheets consisted of the following: December 31, December 31, Deferred tax assets Accrued expenditures $ 887,464 $ 691,908 Exploration and mine development expenditures 167,651 7,686,371 Stock-based compensation 894,786 656,617 Tax carryforwards 21,850,937 7,993,664 Other deferred tax assets 1,432,208 177,512 Gross deferred tax assets 25,233,046 17,206,072 Valuation allowance (17,750,955) (17,186,537) Deferred tax assets 7,482,091 19,535 Deferred tax liabilities Equity method investments (9,440,314) — Other deferred tax liabilities (922,900) (19,535) Deferred tax liabilities (10,363,214) (19,535) Net deferred tax liability $ (2,881,123) $ —
Schedule of Changes in Deferred Tax Asset Valuation Allowance	Changes in the balances of our deferred tax asset valuation allowance were as follows: December 31, December 31, June 30, Beginning balance $ 17,186,537 $ 13,354,675 $ 8,589,012 Charged to other accounts 835,346 — — Charged to income tax expense (270,928) 3,831,862 4,765,663 Ending balance $ 17,750,955 $ 17,186,537 $ 13,354,675
Schedule of Net Operating Loss Carryforwards	Total net operating losses available were as follows: December 31, December 31, Begin to expire U.S. - Federal $ 9,596,659 $ 4,660,187 2037 — Indefinite U.S. - State 742,982 712,124 2032 Australia - Federal 3,697,101 2,481,828 Indefinite Australia - Capital 257,762 214,872 Indefinite Total $ 14,294,504 $ 8,069,011

TRANSITION PERIOD COMPARATIVE_2

TRANSITION PERIOD COMPARATIVE DATA (Tables)	12 Months Ended
	Dec. 31, 2022
Transition Period Comparative Data [Abstract]
Transition Period Comparative Data	For comparative purposes, the consolidated statements of operations and cash flows for the six months ended December 31, 2021 and 2020, are summarized below. All data for the six months ended December 31, 2020, was derived from the Company’s unaudited consolidated financial statements. Six Months Ended 2021 2020 Operating expenses: Exploration and mine development costs $ 9,628,803 $ 3,572,166 General and administrative expenses 10,956,005 2,174,023 Total operating expenses 20,584,808 5,746,189 Loss from equity investments in unconsolidated affiliates (642,135) — Loss from operations (21,226,943) (5,746,189) Other income (expense) : Interest expense, net (112,869) (138,801) (Loss) gain from foreign currency exchange (8,543) 100,152 Loss before taxes and equity earnings (21,348,355) (5,784,838) Income tax expense — — Net loss $ (21,348,355) $ (5,784,838) Basic and diluted net loss per weighted-average share $ (1.35) $ (0.47) Basic and diluted weighted-average number of shares outstanding 15,868,521 12,205,057 Six Months Ended 2021 2020 Cash flows from operating activities: Net loss $ (21,348,355) $ (5,784,838) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation 8,697 8,836 Stock-based compensation 2,003,116 301,077 Noncash lease expense 78,878 53,834 Loss on equity investments in unconsolidated affiliates 642,135 — Changes in operating assets and liabilities: Other assets (717,101) (212,398) Operating lease liabilities (81,005) (74,233) Accounts payable (1,299,090) 1,465,370 Accrued expenses and other current liabilities 3,038,552 708,543 Net cash used in operating activities (17,674,173) (3,533,809) Cash flows from investing activities: Purchase of mining interests (12,464,238) (5,076,816) Capital expenditures (35,145) (13,740) Advances on the Ewoyaa Project (Ghana) (4,310,173) — Purchase of equity investments in unconsolidated affiliates (43,603,824) — Net cash used in investing activities (60,413,380) (5,090,556) Cash flows from financing activities: Proceeds from issuance of common stock, net of issuance costs — 60,876,241 Proceeds from exercise of stock options 557,100 132,895 Principal payments on long-term debt (876,212) (304,865) Net cash (used in) provided by financing activities (319,112) 60,704,271 Net (decrease) increase in cash (78,406,665) 52,079,906 Cash and cash equivalents at beginning of period 142,651,648 18,857,088 Cash and cash equivalents at end of period $ 64,244,983 $ 70,936,994 Supplemental disclosure of cash flow information: Cash paid for interest $ 112,869 $ 156,208 Noncash acquisitions of mining interests financed by sellers 241,002 669,500

DESCRIPTION OF COMPANY (Details

DESCRIPTION OF COMPANY (Details)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	May 17, 2021
Class of Stock [Line Items]
CDI exchange ratio			0.01
Accumulated deficit	$ (105,657,674)	$ (92,683,000)
Piedmont Lithium Limited
Class of Stock [Line Items]
ADS conversion ratio			100

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Long-Lived Assets (Details) - USD ($)	6 Months Ended	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2022	Jun. 30, 2021	Jun. 30, 2020
Accounting Policies [Abstract]
Impairment of long-lived assets	$ 0	$ 0	$ 0	$ 0

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Fair Value of Financial Instruments (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Long-term debt	$ 588,612	$ 1,676,336
Investments in equity securities	$ 483,836	$ 513,511

PROPERTY, PLANT AND MINE DEVE_3

PROPERTY, PLANT AND MINE DEVELOPMENT (Details) - USD ($)	6 Months Ended		12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2022	Jun. 30, 2021	Jun. 30, 2020
Property, Plant and Equipment [Line Items]
Property, plant and mine development, gross	$ 40,099,120		$ 71,626,268
Accumulated depreciation	(43,766)		(85,470)
Property, plant and mine development, net	40,055,354		71,540,798
Depreciation	8,697	$ 8,836	73,697	$ 11,589	$ 13,249
General and administrative expenses
Property, Plant and Equipment [Line Items]
Depreciation	8,697		73,697	$ 11,589	$ 13,249
Mining interests
Property, Plant and Equipment [Line Items]
Property, plant and mine development, gross	39,303,043		56,119,627
Mine development
Property, Plant and Equipment [Line Items]
Property, plant and mine development, gross	0		3,050,239
Land
Property, Plant and Equipment [Line Items]
Property, plant and mine development, gross	688,829		720,033
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and mine development, gross	0		281,008
Facilities and equipment
Property, Plant and Equipment [Line Items]
Property, plant and mine development, gross	107,248		675,795
Construction in process
Property, Plant and Equipment [Line Items]
Property, plant and mine development, gross	$ 0		$ 10,779,566

EQUITY METHOD INVESTMENTS IN _3

EQUITY METHOD INVESTMENTS IN UNCONSOLIDATED AFFILIATES - Additional Information (Details)	6 Months Ended	12 Months Ended
	Dec. 31, 2021 USD ($)	Dec. 31, 2022 USD ($) t	Jun. 30, 2021 USD ($)	Jun. 30, 2020 USD ($)
Schedule of Equity Method Investments [Line Items]
Gain on dilution of equity method investments in unconsolidated affiliates | $	$ 0	$ 28,954,893	$ 0	$ 0
Sayona Quebec
Schedule of Equity Method Investments [Line Items]
Long-term supply agreement, spodumene concentrate production (in Tonne) | t		113,000
Long-term supply agreement, spodumene concentrate production, percentage		50%
Atlantic Lithium
Schedule of Equity Method Investments [Line Items]
Long-term supply agreement, percentage of spodumene concentrate produced for sale		50%
Sayona Quebec
Schedule of Equity Method Investments [Line Items]
Long-term supply agreement, floor price | t		500
Long-term supply agreement, ceiling price | t		900
Sayona Quebec | North American Lithium Mining
Schedule of Equity Method Investments [Line Items]
Noncontrolling interest, ownership percentage by parent		100%
Sayona Mining
Schedule of Equity Method Investments [Line Items]
Equity interest, ownership percentage		14%
Gain on dilution of equity method investments in unconsolidated affiliates | $		$ 29,401,727
Sayona Quebec
Schedule of Equity Method Investments [Line Items]
Equity interest, ownership percentage		25%
Sayona Quebec | Sayona Mining
Schedule of Equity Method Investments [Line Items]
Equity interest, ownership percentage		75%
Atlantic Lithium
Schedule of Equity Method Investments [Line Items]
Equity interest, ownership percentage		9%
Gain on dilution of equity method investments in unconsolidated affiliates | $		$ (446,834)
Equity interest, right to acquire ownership percentage		50%

EQUITY METHOD INVESTMENTS IN _4

EQUITY METHOD INVESTMENTS IN UNCONSOLIDATED AFFILIATES - Summary of Changes in Equity Method Investments (Details) - USD ($)	2 Months Ended	6 Months Ended		12 Months Ended
	Feb. 27, 2023	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2022	Jun. 30, 2021	Jun. 30, 2020
Increase (Decrease) in Equity Method Investment [Roll Forward]
Equity method investments, beginning balance	$ 95,647,802	$ 16,262,498		$ 58,872,710
Initial/Additional investment		43,603,824	$ 0	21,062,097	$ 16,358,412	$ 0
Loss from equity method investments in unconsolidated affiliates		(642,135)	$ 0	(8,352,290)	(64,626)	0
Share of income (loss) from equity method investments included in other comprehensive income (loss)		162,034		(4,889,608)	(31,288)
Return of capital		(513,511)
Gain (loss) on dilution of equity method investments		0		28,954,893	0	$ 0
Equity method investments, ending balance		58,872,710		95,647,802	16,262,498
Transaction costs		111,071			212,713
Sayona Mining
Increase (Decrease) in Equity Method Investment [Roll Forward]
Equity method investments, beginning balance	44,619,404	11,194,905		18,256,488
Initial/Additional investment		7,423,086		1,444,855	11,290,819
Loss from equity method investments in unconsolidated affiliates		(525,679)		(3,104,926)	(64,626)
Share of income (loss) from equity method investments included in other comprehensive income (loss)		164,176		(1,378,740)	(31,288)
Gain (loss) on dilution of equity method investments				29,401,727
Equity method investments, ending balance		18,256,488		44,619,404	11,194,905
Fair value of equity investments where market values from publicly traded entities are readily available				157,271,908
Sayona Quebec
Increase (Decrease) in Equity Method Investment [Roll Forward]
Equity method investments, beginning balance	39,763,008	5,067,593		25,215,851
Initial/Additional investment		20,211,235		19,617,242	5,067,593
Loss from equity method investments in unconsolidated affiliates		(62,977)		(2,499,064)
Share of income (loss) from equity method investments included in other comprehensive income (loss)				(2,571,021)
Equity method investments, ending balance		25,215,851		39,763,008	5,067,593
Sayona Quebec | Subsequent Event
Increase (Decrease) in Equity Method Investment [Roll Forward]
Initial/Additional investment	5,683,894
Atlantic Lithium
Increase (Decrease) in Equity Method Investment [Roll Forward]
Equity method investments, beginning balance	$ 11,265,390	0		15,400,371
Initial/Additional investment		15,969,503
Loss from equity method investments in unconsolidated affiliates		(53,479)		(2,748,300)
Share of income (loss) from equity method investments included in other comprehensive income (loss)		(2,142)		(939,847)
Return of capital		(513,511)
Gain (loss) on dilution of equity method investments				(446,834)
Equity method investments, ending balance		15,400,371		11,265,390	$ 0
Fair value of equity investments where market values from publicly traded entities are readily available				$ 24,885,000
Sayona and Sayona Quebec
Increase (Decrease) in Equity Method Investment [Roll Forward]
Initial/Additional investment		27,634,321
Transaction costs		$ 171,379

EQUITY METHOD INVESTMENTS IN _5

EQUITY METHOD INVESTMENTS IN UNCONSOLIDATED AFFILIATES - Equity Method Investment Summarized Financial Information (Details) - USD ($)	6 Months Ended		12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2022	Jun. 30, 2021	Jun. 30, 2020
Summarized statement of operations information:
Net loss from operations	$ (21,226,943)	$ (5,746,189)	$ (39,740,355)	$ (19,800,582)	$ (6,565,945)
Other comprehensive income (loss), net of tax	162,034		(4,631,467)	(31,288)	(499,399)
Comprehensive loss	(21,186,321)		(17,606,141)	(20,025,136)	$ (6,378,551)
Summarized balance sheet information:
Current assets	66,759,585		101,858,804
Current liabilities	7,550,018		13,411,165
Sayona Mining
Summarized statement of operations information:
Revenue	0		0	0
Net loss from operations	(2,692,205)		(19,274,044)	(324,754)
Other comprehensive income (loss), net of tax	844,581		10,424,036	(157,224)
Comprehensive loss	(1,847,624)		(8,850,008)	(481,979)
Summarized balance sheet information:
Current assets	18,302,011		122,252,635	9,710,517
Non-current assets	99,752,858		237,656,191	17,718,789
Current liabilities	2,071,478		5,299,124	4,746,137
Non-current liabilities	23,048		57,987,101	$ 24,285
Sayona Quebec
Summarized statement of operations information:
Revenue	0		0
Net loss from operations	(251,909)		(9,996,260)
Other comprehensive income (loss), net of tax	0		179,041
Comprehensive loss	(251,909)		(9,817,219)
Summarized balance sheet information:
Current assets	712,057		24,869,403
Non-current assets	97,957,054		147,953,912
Current liabilities	917,461		3,194,978
Non-current liabilities	0		88,183,972
Atlantic Lithium
Summarized statement of operations information:
Revenue	0		0
Net loss from operations	(539,649)		(39,801,057)
Other comprehensive income (loss), net of tax	(21,619)		(32,483)
Comprehensive loss	(561,268)		(39,833,540)
Summarized balance sheet information:
Current assets	24,332,412		19,393,500
Non-current assets	43,422,205		1,074,079
Current liabilities	3,354,029		3,895,742
Non-current liabilities	$ 0		$ 15,612,992

OTHER ASSETS - Schedule of Othe

OTHER ASSETS - Schedule of Other Current Assets (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Investments in equity securities	$ 483,836	$ 513,511
Prepaid assets and other receivables	2,128,005	2,001,091
Total other current assets	$ 2,611,841	$ 2,514,602

OTHER ASSETS - Schedule of Ot_2

OTHER ASSETS - Schedule of Other Non-current Assets (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Advances on exploration project	$ 17,316,440	$ 4,310,173
Other non-current assets	263,845	190,030
Operating lease right-of-use assets	1,293,394	60,919
Total other non-current assets	$ 18,873,679	$ 4,561,122

OTHER ASSETS - Additional Infor

OTHER ASSETS - Additional Information (Details) - USD ($)	2 Months Ended	6 Months Ended		12 Months Ended
	Feb. 27, 2023	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2022	Jun. 30, 2021	Jun. 30, 2020	Sep. 30, 2022	Aug. 31, 2022
Schedule of Equity Method Investments [Line Items]
Equity method investments		$ 58,872,710		$ 95,647,802	$ 16,262,498
Equity method investments, advance payments		43,603,824	$ 0	21,062,097	$ 16,358,412	$ 0
Operating lease right-of-use assets		60,919		1,293,394
Operating lease liabilities		59,430		$ 1,301,173
Belmont, NC
Schedule of Equity Method Investments [Line Items]
Lease term								7 years
Operating lease right-of-use assets								$ 1,300,000
Operating lease liabilities								$ 1,300,000
Ghana Project
Schedule of Equity Method Investments [Line Items]
Strategic partnership investments, percentage expected				50%			50%
Equity method investments				$ 0
Equity method investments, advance payments		$ 4,300,000		$ 12,700,000
Ghana Project | Subsequent Event
Schedule of Equity Method Investments [Line Items]
Equity method investments, advance payments	$ 900,000
Ghana Project | Minimum
Schedule of Equity Method Investments [Line Items]
Strategic partnership investments, period				3 years
Ghana Project | Maximum
Schedule of Equity Method Investments [Line Items]
Strategic partnership investments, period				4 years
Ghana Project, Phase One
Schedule of Equity Method Investments [Line Items]
Strategic partnership investments, percentage expected				22.50%
Strategic partnership investments, funding amount				$ 17,000,000
Ghana Project, Phase Two
Schedule of Equity Method Investments [Line Items]
Strategic partnership investments, percentage expected				27.50%
Strategic partnership investments, funding amount				$ 70,000,000

LONG-TERM DEBT - Additional Inf

LONG-TERM DEBT - Additional Information (Details) - USD ($)	6 Months Ended
	Dec. 31, 2021	Dec. 31, 2022
Debt Instrument [Line Items]
Debt stated interest rate		10%
Minimum
Debt Instrument [Line Items]
Monthly installment payment	$ 2,000
Debt agreement term	2 years
Maximum
Debt Instrument [Line Items]
Monthly installment payment	$ 20,000
Debt agreement term	5 years

LONG-TERM DEBT - Schedule of Lo

LONG-TERM DEBT - Schedule of Long-term Debt Agreements (Details) - USD ($)	6 Months Ended	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2022	Jun. 30, 2021	Jun. 30, 2020
Debt Disclosure [Abstract]
Current portion of long-term debt	$ 762,189	$ 425,187
Long-term debt, net of current portion	914,147	163,425
Total long-term debt	1,676,336	588,612
Interest paid	$ 112,869	$ 115,029	$ 271,264	$ 107,569

LONG-TERM DEBT - Schedule of Ma

LONG-TERM DEBT - Schedule of Maturities of Long-term Debt (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Debt Disclosure [Abstract]
2023	$ 425,187
2024	148,910
2025	14,515
2026	0
Total long-term debt	$ 588,612	$ 1,676,336

LEASES - Additional Information

LEASES - Additional Information (Details) - Belmont, NC	Aug. 31, 2022
Lessee, Lease, Description [Line Items]
Lease term	7 years
Renewal term	6 years

LEASES - Components of Lease Co

LEASES - Components of Lease Costs and Other Lease Information (Details) - USD ($)	6 Months Ended	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2022	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Assets:
Right-of-use assets - operating lease	$ 60,919	$ 1,293,394
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other non-current assets	Other non-current assets			Other non-current assets
Liabilities:
Current	$ 59,430	$ 124,464
Non-current	0	1,176,709
Operating lease liabilities	$ 59,430	$ 1,301,173
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other current liabilities	Other current liabilities			Other current liabilities
Summarized statement of operations information:
Operating lease cost	$ 84,228	$ 152,617	$ 165,456	$ 156,456
Short-term lease cost	66,592	105,914	78,583	32,673
Sublease income	61,506	51,255	120,752	29,906
Other information:
Right-of-use assets obtained in exchange for new operating lease liabilities	0	1,339,203	14,921	391,549
Operating cash flows from operating leases	$ 86,356	$ 143,349	$ 165,817	$ 152,251
Weighted-average remaining lease term (in months)	3 months	80 months	11 months	23 months
Weighted-average discount rate	10%	10%	10%	10%

LEASES - Maturities of Lease Pa

LEASES - Maturities of Lease Payments Under Non-cancellable Leases (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
2023	$ 249,060
2024	256,532
2025	264,228
2026	272,155
2027	280,320
Thereafter	485,027
Total future minimum lease payments	1,807,322
Interest included within lease payments	(506,149)
Operating lease liabilities	$ 1,301,173	$ 59,430

EQUITY (Details)

EQUITY (Details)	1 Months Ended						12 Months Ended
	Mar. 31, 2022 USD ($) $ / shares shares	Mar. 31, 2021 USD ($) $ / shares shares	Oct. 31, 2020 USD ($) $ / shares	Aug. 31, 2020 USD ($)	Jun. 30, 2020 USD ($) $ / shares	Jul. 31, 2019 USD ($)	Dec. 31, 2022 USD ($) $ / shares shares	Jun. 30, 2021 USD ($)	Jun. 30, 2020 USD ($) $ / shares	Dec. 31, 2021 $ / shares shares	Sep. 24, 2021 USD ($)	May 17, 2021 shares	May 16, 2021 shares	Aug. 31, 2020 $ / shares	Jul. 31, 2019 $ / shares
Class of Stock [Line Items]
Common stock, shares outstanding (in shares) | shares							18,073,367			15,894,395		15,764,533	1,574,597,320
Common stock, shares authorized (in shares) | shares							100,000,000			100,000,000
Common stock, par value (in dollars per share) | $ / shares							$ 0.0001			$ 0.0001
Preferred stock, shares authorized (in shares) | shares							10,000,000
Preferred stock, par value (in dollars per share) | $ / shares							$ 0.0001
Preferred stock, shares outstanding (in shares) | shares							0
Issuance of common stock, net (in shares) | shares	2,012,500	1,750,000
Sale of stock, offering capacity | $											$ 500,000,000
Shares issued, price per share (in USD/AUD per share) | $ / shares	$ 65	$ 70
Issuance of common stock, net | $	$ 130,800,000						$ 122,059,476	$ 174,964,132	$ 25,108,988
Stock issuance costs | $	$ 8,800,000	$ 12,819,429
Remaining offering capacity | $							$ 369,200,000
Piedmont Lithium Limited
Class of Stock [Line Items]
ADS conversion ratio												100
Australia Share Placements And US Public Offerings
Class of Stock [Line Items]
Shares issued, price per share (in USD/AUD per share) | (per share)			$ 25		$ 6.30				$ 6.30					$ 9	$ 14.50
Issuance of common stock, net | $			$ 2,300,000	$ 1,200,000	$ 2,065,000	$ 1,450,000			$ 2,326,270

STOCK-BASED COMPENSATION - Addi

STOCK-BASED COMPENSATION - Additional Information (Details) - USD ($) $ in Millions	1 Months Ended	6 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2022	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards cost not yet recognized, amount			$ 5.7
Granted (in shares)		0	194,906	135,004	259,500
Performance Rights Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period			3 years
Unvested awards expiring over the next three years (in shares)		30,000	44,468	60,000	50,000	500
Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Expiration period	10 years
Number of common stock available for issuance (in shares)			2,343,298

STOCK-BASED COMPENSATION - Comp

STOCK-BASED COMPENSATION - Compensation Expense (Details) - USD ($)	6 Months Ended	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2022	Jun. 30, 2021	Jun. 30, 2020
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	$ 2,003,116	$ 4,630,345	$ 1,319,372	$ 470,939
Stock-based compensation forfeitures	0	(858,651)	0	0
Stock-based compensation, net of forfeitures	2,003,116	3,771,694	1,319,372	470,939
Stock-based compensation expense, net of forfeitures	2,003,116	3,489,965	1,319,372	470,939
Capitalized stock-based compensation	0	281,729	0	0
Stock-based compensation, net of forfeitures	2,003,116	3,771,694	1,319,372	470,939
Exploration and mine development costs
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense, net of forfeitures	687,695	161,051	495,031	171,151
General and administrative expenses
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense, net of forfeitures	$ 1,315,421	$ 3,328,914	$ 824,341	$ 299,788

STOCK-BASED COMPENSATION - Assu

STOCK-BASED COMPENSATION - Assumptions to Estimate Fair Value of Options (Details)	12 Months Ended
	Dec. 31, 2022	Jun. 30, 2021	Jun. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate, minimum	1.10%	0.90%	0.30%
Risk-free interest rate, maximum	3.40%	1.20%	0.50%
Assumed volatility	50%	50%	70%
Expected dividend rate	0%	0%	0%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life of options (in years)	5 years 3 months 18 days	5 years 3 months 18 days	2 years 8 months 12 days
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life of options (in years)	6 years 4 months 24 days	6 years 3 months 18 days	2 years 9 months 18 days

STOCK-BASED COMPENSATION - Sche

STOCK-BASED COMPENSATION - Schedule of Share-based Awards Activity (Details) - USD ($)	6 Months Ended	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2022	Jun. 30, 2021	Jun. 30, 2020
Stock Option Awards
Outstanding at beginning of period (in shares)	392,504	272,504	536,250	846,500
Granted (in shares)	0	194,906	135,004	259,500
Exercised, surrendered or vested (in shares)	(120,000)	(182,500)	(15,000)	(315,000)
Forfeited (in shares)	0	(19,458)
Expired or Vested (in shares)	0	(719)	(263,750)	(254,750)
Outstanding at end of period (in shares)	272,504	264,733	392,504	536,250
Vested (in shares)		75,231
Weighted- Average Exercise Price (per share)
Outstanding at beginning of period (in dollars per share)	$ 21.16	$ 24.34	$ 16.88	$ 13.77
Options granted (in dollars per share)	0	55	35.14	16.15
Options exercised or surrendered (in dollars per share)	13.93	14.92	12.38	7.71
Options forfeited (in dollars per share)	0	38.74
Options expired (in dollars per share)	0	65	15.97	17.13
Outstanding at end of period (in dollars per share)	$ 24.34	52.23	$ 21.16	$ 16.88
Vested (in dollars per share)		$ 47.30
Weighted- Average Grant-Date Fair Value (per share)
Outstanding weighted average remaining contractual term (in years)		1 year 14 days
Vested weighted average remaining contractual term (in years)		8 months 19 days
Outstanding Aggregate intrinsic value of share options		$ 0
Vested aggregate intrinsic value of share options		$ 0
Restricted Stock Units
Restricted Stock Units & Performance Rights Awards
Unvested at beginning of period (in shares)	36,745	51,277	0	0
Granted (in shares)	14,532	28,664	36,745	0
Exercised or surrendered (in shares)	0	(26,004)	0	0
Forfeited (in shares)	0	(17,770)
Expired or Vested (in shares)	0	0	0	0
Unvested at end of period (in shares)	51,277	36,167	36,745	0
Weighted- Average Grant-Date Fair Value (per share)
Unvested at beginning of period (in dollars per share)	$ 64.08	$ 59.17	$ 0	$ 0
Granted (in dollars per share)	59.17	54.24	64.08	0
Exercised or surrendered (in dollars per share)	0	58.33	0	0
Forfeited (in dollars per share)	0	66.77
Expired or Vested (in dollars per share)	0	0	0	0
Unvested at end of period (in dollars per share)	$ 59.17	$ 57.12	$ 64.08	$ 0
Performance Rights Awards
Restricted Stock Units & Performance Rights Awards
Unvested at beginning of period (in shares)	60,000	30,000	50,000	500
Granted (in shares)	0	49,468	10,000	75,000
Exercised or surrendered (in shares)	0	0	0	(25,000)
Forfeited (in shares)	(5,000)	(35,000)
Expired or Vested (in shares)	(25,000)	0	0	(500)
Unvested at end of period (in shares)	30,000	44,468	60,000	50,000
Weighted- Average Grant-Date Fair Value (per share)
Unvested at beginning of period (in dollars per share)	$ 5.42	$ 5.42	$ 5.20	$ 5.41
Granted (in dollars per share)	0	54.13	6.50	4.51
Exercised or surrendered (in dollars per share)	0	0	0	4.51
Forfeited (in dollars per share)	6.50	12.20
Expired or Vested (in dollars per share)	5.20	0	0	5.41
Unvested at end of period (in dollars per share)	$ 5.42	$ 54.27	$ 5.42	$ 5.20

EMPLOYEE BENEFIT PLAN (Details)

EMPLOYEE BENEFIT PLAN (Details) - USD ($)	6 Months Ended	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2022	Jun. 30, 2021	Jun. 30, 2020
Retirement Benefits [Abstract]
Defined contribution plan, maximum annual contributions per employee, percent	100%
Contribution expenses	$ 78,214	$ 235,905	$ 146,721	$ 28,731

EARNINGS PER SHARE - Schedule o

EARNINGS PER SHARE - Schedule of Basic and Diluted Loss per Share (Details) - USD ($)	6 Months Ended		12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2022	Jun. 30, 2021	Jun. 30, 2020
Earnings Per Share [Abstract]
Net income (loss), basic	$ (21,348,355)		$ (12,974,674)	$ (19,993,848)	$ (5,879,152)
Net income (loss), diluted	$ (21,348,355)		$ (12,974,674)	$ (19,993,848)	$ (5,879,152)
Weighted-average number of common shares used in calculating basic earnings per share (in shares)	15,868,521	12,205,057	17,517,678	13,551,150	8,283,567
Weighted-average number of common shares used in calculating dilutive earnings per share (in shares)	15,868,521	12,205,057	17,517,678	13,551,150	8,283,567
Basic net loss per weighted-average share (in dollars per share)	$ (1.35)	$ (0.47)	$ (0.74)	$ (1.48)	$ (0.71)
Diluted net loss per weighted-average share (in dollars per share)	$ (1.35)	$ (0.47)	$ (0.74)	$ (1.48)	$ (0.71)

EARNINGS PER SHARE - Schedule_2

EARNINGS PER SHARE - Schedule of Antidilutive Securities Excluded from Calculation of Diluted Net Loss Per Share (Details) - shares	6 Months Ended	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2022	Jun. 30, 2021	Jun. 30, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common shares considered anti-dilutive (in shares)	353,781	345,368	489,249	586,250
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common shares considered anti-dilutive (in shares)	272,504	264,733	392,504	536,250
RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common shares considered anti-dilutive (in shares)	51,277	36,167	36,745	0
PRAs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common shares considered anti-dilutive (in shares)	30,000	44,468	60,000	50,000

INCOME TAXES - Schedule of Comp

INCOME TAXES - Schedule of Components of Income Tax Expense (Benefit) (Details) - USD ($)	6 Months Ended	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2022	Jun. 30, 2021	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Domestic	$ (20,656,738)	$ (31,650,816)	$ (17,601,419)	$ (5,424,724)
Foreign	(691,617)	21,815,406	(2,392,429)	(454,428)
Loss before taxes	$ (21,348,355)	$ (9,835,410)	$ (19,993,848)	$ (5,879,152)

INCOME TAXES - Schedule of Effe

INCOME TAXES - Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($)	6 Months Ended		12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2022	Jun. 30, 2021	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Pre-tax loss	$ (21,348,355)		$ (9,835,410)	$ (19,993,848)	$ (5,879,152)
Benefit at statutory rate (21%)	(4,483,155)		(2,065,436)	(4,198,708)	(1,234,622)
Foreign rate differential	(62,246)		1,963,387	(22,160)	(13,801)
Non-deductible transaction costs	0		0	299,965	0
Permanent items	(102,837)		(162,114)	141,223	63,229
Foreign exchange differences	17,464		(840,469)	0	0
Branch deferred taxes	0		4,003,454	0	0
State taxes	508,600		511,370	(985,983)	(338,078)
Other adjustments	290,312		0	0	0
Change in valuation allowance	3,831,862		(270,928)	4,765,663	1,523,272
Income tax expense	$ 0	$ 0	$ 3,139,264	$ 0	$ 0

INCOME TAXES - Schedule of Defe

INCOME TAXES - Schedule of Deferred Income Tax Assets and Liabilities (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Deferred tax assets
Accrued expenditures	$ 887,464	$ 691,908
Exploration and mine development expenditures	167,651	7,686,371
Stock-based compensation	894,786	656,617
Tax carryforwards	21,850,937	7,993,664
Other deferred tax assets	1,432,208	177,512
Gross deferred tax assets	25,233,046	17,206,072
Valuation allowance	(17,750,955)	(17,186,537)
Deferred tax assets	7,482,091	19,535
Deferred tax liabilities
Equity method investments	(9,440,314)	0
Other deferred tax liabilities	(922,900)	(19,535)
Deferred tax liabilities	(10,363,214)	(19,535)
Net deferred tax liability	$ (2,881,123)	$ 0

INCOME TAXES - Additional Infor

INCOME TAXES - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Increase of deferred tax liabilities	$ 2,900,000
Deferred tax liability	(2,881,123)	$ 0
Decrease in valuation allowance	$ 3,900,000

INCOME TAXES - Schedule of Chan

INCOME TAXES - Schedule of Changes in Deferred Tax Asset Valuation Allowance (Details) - SEC Schedule, 12-09, Valuation Allowance, Deferred Tax Asset - USD ($)	6 Months Ended	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2022	Jun. 30, 2021
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Beginning balance	$ 13,354,675	$ 17,186,537	$ 8,589,012
Charged to other accounts	0	835,346	0
Charged to income tax expense	3,831,862	(270,928)	4,765,663
Ending balance	$ 17,186,537	$ 17,750,955	$ 13,354,675

INCOME TAXES - Schedule of Net

INCOME TAXES - Schedule of Net Operating Losses (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Income Tax Contingency [Line Items]
Operating loss carryforwards	$ 14,294,504	$ 8,069,011
U.S. - Federal
Income Tax Contingency [Line Items]
Operating loss carryforwards	9,596,659	4,660,187
U.S. - State
Income Tax Contingency [Line Items]
Operating loss carryforwards	742,982	712,124
Foreign Tax Authority | Australia - Federal
Income Tax Contingency [Line Items]
Operating loss carryforwards	3,697,101	2,481,828
Foreign Tax Authority | Australia - Capital
Income Tax Contingency [Line Items]
Operating loss carryforwards	$ 257,762	$ 214,872

SEGMENT REPORTING (Details)

SEGMENT REPORTING (Details)	12 Months Ended
	Dec. 31, 2022 segment
Segment Reporting [Abstract]
Number of Reportable Segments	1

RELATED PARTIES (Details)

RELATED PARTIES (Details) - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Ledger Holdings Pty Ltd
Related Party Transaction [Line Items]
Amount paid for services related to business development	$ 91,667	$ 90,734

TRANSITION PERIOD COMPARATIVE_3

TRANSITION PERIOD COMPARATIVE DATA - Statements of Operations (Details) - USD ($)	6 Months Ended		12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2022	Jun. 30, 2021	Jun. 30, 2020
Operating expenses:
Exploration and mine development costs	$ 9,628,803	$ 3,572,166	$ 1,939,498	$ 10,874,502	$ 3,125,784
General and administrative expenses	10,956,005	2,174,023	29,448,567	8,861,454	3,440,161
Total operating expenses	20,584,808	5,746,189	31,388,065	19,735,956	6,565,945
Loss from equity investments in unconsolidated affiliates	(642,135)	0	(8,352,290)	(64,626)	0
Loss from operations	(21,226,943)	(5,746,189)	(39,740,355)	(19,800,582)	(6,565,945)
Other income (expense):
Interest expense, net	(112,869)	(138,801)
(Loss) gain from foreign currency exchange	(8,543)	100,152	(87,931)	74,620	632,832
Loss before taxes and equity earnings	(21,348,355)	(5,784,838)
Income tax expense	0	0	3,139,264	0	0
Net loss	$ (21,348,355)	$ (5,784,838)	$ (12,974,674)	$ (19,993,848)	$ (5,879,152)
Basic net loss per weighted-average share (in dollars per share)	$ (1.35)	$ (0.47)	$ (0.74)	$ (1.48)	$ (0.71)
Diluted net loss per weighted-average share (in dollars per share)	$ (1.35)	$ (0.47)	$ (0.74)	$ (1.48)	$ (0.71)
Basic weighted-average number of shares outstanding (in shares)	15,868,521	12,205,057	17,517,678	13,551,150	8,283,567
Diluted weighted-average number of shares outstanding (in shares)	15,868,521	12,205,057	17,517,678	13,551,150	8,283,567

TRANSITION PERIOD COMPARATIVE_4

TRANSITION PERIOD COMPARATIVE DATA - Statements of Cash Flows (Details) - USD ($)	6 Months Ended		12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2022	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities:
Net loss	$ (21,348,355)	$ (5,784,838)	$ (12,974,674)	$ (19,993,848)	$ (5,879,152)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	8,697	8,836	73,697	11,589	13,249
Stock-based compensation	2,003,116	301,077	3,489,965	1,319,372	470,939
Noncash lease expense	78,878	53,834	106,728	143,734	122,759
Loss from equity method investments in unconsolidated affiliates	642,135	0	8,352,290	64,626	0
Changes in operating assets and liabilities:
Other assets	(717,101)	(212,398)	(200,730)	(1,385,134)	(29,736)
Operating lease liabilities	(81,005)	(74,233)	(97,460)	(144,096)	(118,555)
Accounts payable	(1,299,090)	1,465,370	1,413,406	1,770,570	(642,293)
Accrued expenses and other current liabilities	3,038,552	708,543	(837,338)	1,955,933	(269,512)
Net cash used in operating activities	(17,674,173)	(3,533,809)	(26,448,527)	(16,257,254)	(6,332,301)
Cash flows from investing activities:
Purchase of mining interests	(12,464,238)	(5,076,816)
Capital expenditures	(35,145)	(13,740)
Advances on Ewoyaa Lithium Project (Ghana)	(4,310,173)	0	(13,006,267)	0	0
Purchases of equity investments in unconsolidated affiliates	(43,603,824)	0	(21,062,097)	(16,358,412)	0
Net cash used in investing activities	(60,413,380)	(5,090,556)	(59,800,271)	(34,565,793)	(3,452,254)
Cash flows from financing activities:
Proceeds from issuances of common stock, net of issuance costs	0	60,876,241	122,059,476	174,964,132	25,108,987
Proceeds from exercise of stock options	557,100	132,895	279,026	349,047	0
Principal payments on long-term debt	(876,212)	(304,865)	(1,087,724)	(695,572)	(390,434)
Net cash provided by (used in) financing activities	(319,112)	60,704,271	121,250,778	174,617,607	24,718,553
Net increase (decrease) in cash	(78,406,665)	52,079,906	35,001,980	123,794,560	14,933,998
Cash and cash equivalents at beginning of period	142,651,648	18,857,088	64,244,983	18,857,088	4,432,150
Cash and cash equivalents at end of period	64,244,983	70,936,994	99,246,963	142,651,648	18,857,088
Supplemental disclosure of cash flow information:
Cash paid for interest	112,869	156,208	115,028	289,125	157,271
Noncash acquisitions of mining interests financed by sellers	$ 241,002	$ 669,500	$ 0	$ 689,500	$ 2,708,052

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - Subsequent Event $ / shares in Units, t in Thousands, $ in Millions	Feb. 16, 2023 USD ($) $ / shares shares	Jan. 02, 2023 t	Feb. 24, 2023
Spodumene Concentrate From Offtake Agreement
Subsequent Event [Line Items]
Supply commitment, amount (in metric tons) | t		125
Supply commitment, term		3 years
Piedmont Lithium Limited | LG Chem
Subsequent Event [Line Items]
Ownership percentage			5.70%
LG Chem
Subsequent Event [Line Items]
Equity method investment, amount agreed	$ 75
Number of shares sold (in shares) | shares	1,096,535
Sale of stock, price (in USD per share) | $ / shares	$ 68.40
Sale of stock, consideration received	$ 75