Piedmont Lithium (PLL) 10-K 28 Feb 24 2023 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Dec. 31, 2023	Feb. 23, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
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, 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	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction	false
Entity Shell Company	false
Entity Public Float			$ 1,107,794,754
Entity Common Stock, Shares Outstanding		19,360,939
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Entity Central Index Key	0001728205

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2023
Audit Information [Abstract]
Auditor Firm ID	34
Auditor Name	DELOITTE & TOUCHE LLP
Auditor Location	Charlotte, North Carolina

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	6 Months Ended	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2021
Income Statement [Abstract]
Revenue	$ 0	$ 39,817	$ 0	$ 0
Costs of sales	0	34,138	0	0
Gross profit	0	5,679	0	0
Exploration costs	9,629	1,929	1,939	10,875
Selling, general and administrative expenses	10,956	43,319	29,449	8,861
Total operating expenses	20,585	45,248	31,388	19,736
Income (Loss) From Equity Method Investments, Including Impairment	(642)	194	(8,352)	(65)
Loss from operations	(21,227)	(39,375)	(39,740)	(19,801)
Interest income	0	3,859	1,153	4
Interest expense	(113)	(39)	(116)	(271)
(Loss) gain from foreign currency exchange	(8)	(91)	(88)	74
Gain on dilution of equity method investments	0	16,975	28,955	0
Total other income (loss)	(121)	20,704	29,904	(193)
Loss before taxes	(21,348)	(18,671)	(9,836)	(19,994)
Income tax expense	0	3,106	3,139	0
Net loss	$ (21,348)	$ (21,777)	$ (12,975)	$ (19,994)
Earnings per share:
Basic net loss per weighted-average share (in dollars per share)	$ (1.35)	$ (1.14)	$ (0.74)	$ (1.48)
Diluted net loss per weighted-average share (in dollars per share)	$ (1.35)	$ (1.14)	$ (0.74)	$ (1.48)
Weighted-average shares outstanding
Basic weighted-average shares outstanding (in shares)	15,869	19,033	17,518	13,551
Diluted weighted-average shares outstanding (in shares)	15,869	19,033	17,518	13,551

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands		6 Months Ended	12 Months Ended
		Dec. 31, 2021	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Net loss		$ (21,348)	$ (21,777)	$ (12,975)	$ (19,994)
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment of equity method investments	[1]	162	1,570	(4,631)	(31)
Other comprehensive income (loss), net of tax		162	1,570	(4,631)	(31)
Comprehensive loss		$ (21,186)	$ (20,207)	$ (17,606)	$ (20,025)
[1] Foreign currency translation adjustment of equity method investments is presented net of tax (expense) benefit of $(36) and $258 for the years ended December 31, 2023 and 2022, respectively. We did not reflect a tax expense during the six months ended December 31, 2021 and year ended June 30, 2021, 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, 2023	Dec. 31, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustment of equity method investments, tax (expense) benefit	$ 0	$ (36,000)	$ 258,000	$ 0

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Assets
Cash and cash equivalents	$ 71,730	$ 99,247
Accounts receivable	595	0
Other current assets	3,829	2,612
Total current assets	76,154	101,859
Property, plant and mine development, net	127,086	71,541
Other non-current assets	30,353	18,873
Equity method investments	147,662	95,648
Total assets	381,255	287,921
Liabilities and Stockholders’ Equity
Accounts payable and accrued expenses	11,754	12,862
Current portion of long-term debt	149	425
Other current liabilities	29,463	124
Total current liabilities	41,366	13,411
Long-term debt, net of current portion	14	163
Operating lease liabilities, net of current portion	1,091	1,177
Other non-current liabilities	431	0
Deferred tax liabilities	6,023	2,881
Total liabilities	48,925	17,632
Commitments and contingencies (Note 15)
Stockholders’ equity:
Common stock; $0.0001 par value, 100,000 shares authorized; 19,272 and 18,073 shares issued and outstanding at December 31, 2023 and December 31, 2022, respectively	2	2
Additional paid-in capital	462,899	381,242
Accumulated deficit	(126,844)	(105,658)
Accumulated other comprehensive loss	(3,727)	(5,297)
Total stockholders’ equity	332,330	270,289
Total liabilities and stockholders’ equity	$ 381,255	$ 287,921

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
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)	19,272,000	18,073,000
Common stock, shares outstanding (in shares)	19,272,000	18,073,000

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2021
Cash flows from operating activities:
Net loss	$ (21,348)	$ (21,777)	$ (12,975)	$ (19,994)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Stock-based compensation expense	2,003	9,516	3,490	1,319
(Income) loss from equity method investments	642	(194)	8,352	65
Gain on dilution of equity method investments	0	(16,975)	(28,955)	0
Deferred taxes	0	3,106	3,139	0
Depreciation and amortization	9	272	74	12
Noncash lease expense	78	245	106	143
Loss on sale of property, plant and mine development	0	0	12	0
Unrealized loss on investment	0	0	30	0
Changes in operating assets and liabilities:
Accounts receivable	0	(595)	0	0
Other assets	(717)	(1,021)	(201)	(1,385)
Operating lease liabilities	(81)	(220)	(97)	(144)
Accounts payable	(1,299)	(1,281)	1,413	1,771
Accrued expenses and other current liabilities	3,039	30,494	(837)	1,956
Net cash provided by (used in) operating activities	(17,674)	1,570	(26,449)	(16,257)
Cash flows from investing activities:
Capital expenditures	(12,499)	(56,723)	(25,732)	(18,207)
Advances to affiliates	(4,310)	(9,361)	(13,006)	0
Investments in equity method investments	(43,604)	(33,239)	(21,062)	(16,358)
Net cash used in investing activities	(60,413)	(99,323)	(59,800)	(34,565)
Cash flows from financing activities:
Proceeds from issuances of common stock, net of issuance costs	0	71,084	122,059	174,964
Proceeds from exercise of stock options	557	0	279	349
Principal payments on long-term debt	(877)	(426)	(1,087)	(696)
Payments to tax authorities for employee stock-based compensation	0	(422)	0	0
Net cash provided by (used in) financing activities	(320)	70,236	121,251	174,617
Net (decrease) increase in cash	(78,407)	(27,517)	35,002	123,795
Cash and cash equivalents at beginning of period	142,652	99,247	64,245	18,857
Cash and cash equivalents at end of period	64,245	71,730	99,247	142,652
Supplemental disclosure of cash flow information:
Noncash capital expenditures in accounts payable and accrued expenses	0	3,955	5,557	0
Cash paid for interest	113	39	115	289
Noncash investment in affiliates for issuance of company stock	0	1,837	0	0
Capitalized stock-based compensation	0	233	282	0
Noncash acquisitions of mining interests financed by sellers	$ 241	$ 0	$ 0	$ 690

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Accumulated Other Comprehensive Loss
Beginning balance (in shares) at Jun. 30, 2020		10,357
Beginning balance at Jun. 30, 2020	$ 23,803	$ 1	$ 76,188	$ (51,589)	$ (797)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, net (in shares)		5,250
Issuance of common stock, net	174,965	$ 1	174,964
Stock-based compensation, net of forfeitures	$ 1,319		1,319
Shares issued for exercise/vesting of stock-based compensation awards (in shares)	15	153
Shares issued for exercise/vesting of share-based compensation awards	$ 349		349
Expiration of stock options	0		(248)	248
Conversion of performance rights (in shares)		5
Equity method investments adjustments in other comprehensive income (loss), net of tax	(31)				(31)
Net loss	(19,994)			(19,994)
Ending balance (in shares) at Jun. 30, 2021		15,765
Ending balance at Jun. 30, 2021	180,411	$ 2	252,572	(71,335)	(828)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation, net of forfeitures	$ 2,003		2,003
Shares issued for exercise/vesting of stock-based compensation awards (in shares)	120	104
Shares issued for exercise/vesting of share-based compensation awards	$ 557		557
Conversion of performance rights (in shares)		25
Equity method investments adjustments in other comprehensive income (loss), net of tax	162				162
Net loss	(21,348)			(21,348)
Ending balance (in shares) at Dec. 31, 2021		15,894
Ending balance at Dec. 31, 2021	161,785	$ 2	255,132	(92,683)	(666)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, net (in shares)		2,013
Issuance of common stock, net	122,059		122,059
Stock-based compensation, net of forfeitures	$ 3,772		3,772
Shares issued for exercise/vesting of stock-based compensation awards (in shares)	183	166
Shares issued for exercise/vesting of share-based compensation awards	$ 279		279
Equity method investments adjustments in other comprehensive income (loss), net of tax	(4,631)				(4,631)
Net loss	$ (12,975)			(12,975)
Ending balance (in shares) at Dec. 31, 2022	18,073	18,073
Ending balance at Dec. 31, 2022	$ 270,289	$ 2	381,242	(105,658)	(5,297)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, net (in shares)		1,160
Issuance of common stock, net	72,921		72,921
Stock-based compensation, net of forfeitures	$ 9,749		9,749
Shares issued for exercise/vesting of stock-based compensation awards (in shares)	2	50
Expiration of stock options	$ 0		(591)	591
Shares surrendered for tax obligations for share-based transactions (in shares)		(11)
Shares surrendered for tax obligations for stock-based transactions	(422)		(422)
Equity method investments adjustments in other comprehensive income (loss), net of tax	1,570				1,570
Net loss	$ (21,777)			(21,777)
Ending balance (in shares) at Dec. 31, 2023	19,272	19,272
Ending balance at Dec. 31, 2023	$ 332,330	$ 2	$ 462,899	$ (126,844)	$ (3,727)

DESCRIPTION OF COMPANY

DESCRIPTION OF COMPANY	12 Months Ended
	Dec. 31, 2023
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 U.S. based, development-stage, multi-asset, integrated lithium business in support of a clean energy economy and U.S. and global 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 in which we have an economic interest. Our portfolio of wholly-owned projects includes Tennessee Lithium, a proposed merchant lithium hydroxide manufacturing plant in McMinn County, Tennessee, and Carolina Lithium, a proposed, fully integrated spodumene ore-to-lithium hydroxide project in Gaston County, North Carolina. The balance of our project portfolio includes strategic investments in lithium assets in Quebec, Canada, including the operating NAL mine, in Ghana, West Africa with Atlantic Lithium, including Ewoyaa, and in Newfoundland, Canada with Vinland Lithium. Basis of Presentation Our consolidated financial statements and related notes have been prepared on the accrual basis of accounting in conformity with U.S. GAAP and in conformity with the rules and regulations of 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. Our reporting currency is U.S. dollars, and we operate on a calendar fiscal year. These consolidated financial statements reflect all adjustments and reclassifications that, in the opinion of management, are considered necessary for a fair statement of the results of operations, financial position, and cash flows for the periods presented. 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, provisional revenue adjustments, collectability of receivables 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 estimates and actual results, future results of operations will be affected. 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 method investments in international projects, permitting and construction delays, the need for additional capital or financing to fund operating losses, competition from substitute products and services, protection of proprietary technology, litigation, and dependence on key individuals. We have accumulated deficits of $126.8 million and $105.7 million as of December 31, 2023 and December 31, 2022, respectively. 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, capital expenditures, and investments as necessary. We may continue to incur investing net cash outflows associated with, among other things, funding capital projects, development-stage technical studies, permitting activities associated with our projects, funding our expected 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.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Revenue Recognition We recognize revenue from product sales at a point in time when performance obligations are satisfied under the terms of contracts with our customers. A performance obligation is deemed to be satisfied when control of the product is transferred to our customer, which is typically upon delivery to the shipping carrier. Where a contract contains more than one distinct performance obligation, the transaction price is allocated to each performance obligation based on the standalone selling price of each performance obligation, although these situations do not occur frequently and are generally not built into our contracts. Revenue is measured as the amount of consideration expected to be received in exchange for transferring the goods. Initial pricing is typically billed 5 days to 30 days after the departure of the shipment and paid between 15 days to 75 days. Final adjustments to prices may take longer to resolve. When the final price has not been resolved by the end of a reporting period, we estimate the expected sales price based on the initial price, market pricing and known quality measurements. We warrant to our customers that our products conform to mutually agreed product specifications. We have elected to account for shipping and handling costs for spodumene concentrate contracts as fulfillment activities and not as promised goods or services; therefore, these activities are not considered separate performance obligations. We have elected the practical expedient relating to significant financing components and as such will not consider the possibility of a contract having a significant financing component (which would effectively attribute a portion of the sales price to interest income) unless, if at contract inception, the expected payment terms (from time of delivery or other relevant criterion) are more than one year. Our lithium products are sold to global and regional customers in the electric vehicle and electronics markets, among others. We currently work with end users in a number of markets to tailor our products to their specifications and will work with these end users as we add more products. Exploration 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. 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 our reporting currency, U.S. dollars. 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. 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 as well as the Monte Carlo simulation. 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, 2023 and 2022, we had $0.2 million and $0.6 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, 2023 and 2022, 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 10— Other Assets and Liabilities . • 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 it 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” in our consolidated statements of operations. Equity Method Investments 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”, 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 be impaired. If a decline in the value of an equity method investment is determined to be other than temporary, then we record a loss as a component of our share of earnings or losses of the equity method investee in the current period. There were $2.2 million in impairment losses for the year ended December 31, 2023. No impairment losses were recorded on equity method investments for any other period presented. See Note 9— Equity Method Investments for further information on our equity method investments. Leases We account for leases in accordance with ASC Topic 842, “Lease s, ” which requires lessees to recognize lease liabilities and 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 12— 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 “Selling, general and administrative expenses” 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, 2023 and 2022. 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 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, 2023, we had no wholly owned 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 years ended December 31, 2023 and 2022, the six months ended December 31, 2021 and the year ended June 30, 2021. 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. See Note 15— Commitments and Contingencies . 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.

REVENUE

REVENUE	12 Months Ended
	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
REVENUE	REVENUE We recognize revenue from product sales at a point in time when performance obligations are satisfied under the terms of contracts with our customers. A performance obligation is deemed to be satisfied when control of the product is transferred to our customer, which is typically upon delivery to the shipping carrier. There currently are no contracts with multiple performance obligations and there have been no unsatisfied performance obligations. Revenue is measured as the amount of consideration expected to be received in exchange for transferring the goods. Initial pricing is typically billed 5 days to 30 days after the departure of the shipment and paid between 15 days to 75 days. Final adjustments to prices may take longer to resolve. When the final price has not been resolved by the end of a reporting period, we estimate the expected sales price based on the initial price, market pricing and known quality measurements. We warrant to our customers that our products conform to mutually agreed product specifications. In the year ended December 31, 2023, three customers accounted for 100% of total revenue. All of the sales related to these three customers originated in North America. We evaluate the collectability of our accounts receivable on an individual customer basis. We had no reserve for uncollectible accounts as of December 31, 2023. There are no contract assets or contract liabilities as of December 31, 2023. Revenue for the year ended December 31, 2023 is reflected in the following table: (in thousands) Spodumene concentrate sales $ 54,898 Provisional revenue adjustments (15,081) Revenue $ 39,817 We are subject to provisional revenue adjustments associated with commodity price fluctuations for our spodumene concentrate sales. These adjustments are unknown until final settlement. There was no revenue during the year ended December 31, 2022, the six months ended December 31, 2021 or the year ended June 30, 2021.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION Stock Incentive Plans The Stock 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. 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, 2023, 2,188,648 shares of common stock were available for issuance under our Stock 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. As of December 31, 2023, we had remaining unvested stock-based compensation expense of $7.5 million to be recognized through December 2025. 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: Years Ended Six Months Ended Year Ended (in thousands) 2023 2022 Components of stock-based compensation: Stock-based compensation $ 9,770 $ 4,631 $ 2,003 $ 1,319 Stock-based compensation forfeitures (21) (859) — — Stock-based compensation, net of forfeitures $ 9,749 $ 3,772 $ 2,003 $ 1,319 Presentation of stock-based compensation in the consolidated financial statements: Exploration costs $ 154 $ 161 $ 688 $ 495 Selling, general and administrative expenses 9,362 3,329 1,315 824 Stock-based compensation expense, net of forfeitures (1) 9,516 3,490 2,003 1,319 Capitalized stock-based compensation (2) 233 282 — — Stock-based compensation, net of forfeitures $ 9,749 $ 3,772 $ 2,003 $ 1,319 __________________________ (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. For stock option awards, the fair value is estimated at the date of grant using the Black-Scholes valuation model and the expense is recognized over the option vesting period. The following assumptions were used to estimate the fair value of stock options granted during the periods presented below: Years Ended December 31, December 31, June 30, Expected life of options (in years) 6.2 - 6.4 5.3 - 6.4 5.3 - 6.3 Risk-free interest rate 3.9% - 4.2% 1.1% - 3.4% 0.9% - 1.2% Assumed volatility 40% 50% 50% Expected dividend rate 0% 0% 0% There were no stock options granted during the six months ended December 31, 2021. Restricted Stock Unit Awards 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. Performance Rights Awards As of December 31, 2023, there were approximately 22,000 unvested Milestone PRAs and 64,000 unvested TSR PRAs. The awards become eligible to vest only if the goals are achieved and will vest only if the grantee remains employed by the Company through each applicable vesting date, subject to certain accelerated vesting terms for qualified terminations. Each performance right converts into one share of common stock upon vesting of the performance right. We determine the fair value of Milestone PRAs based upon the market price of our common stock on the grant date. Milestone PRAs are subject to certain milestones related to construction, feasibility studies, and offtake agreements, which must be satisfied in order for PRAs to vest. We estimate the fair value of the TSR PRAs at the grant date using a Monte Carlo simulation. The Monte Carlo simulation fair value model requires the use of highly subjective and complex assumptions, including price volatility of the underlying stock. A Monte Carlo simulation model was used to determine the grant date fair value by simulating a range of possible future stock prices for the Company and each member of the peer group over the performance periods. Compensation expense is recognized based upon the assumption of 100% achievement of the TSR goal and is reflected over the service period of the award. Compensation expense will not be reversed even if the threshold level of TSR is never achieved. The number of shares that may vest ranges from 0% to 200% of the target amount. The awards, which range from 1 year to 3 years, provide for a partial payout based on actual performance at the conclusion of the performance period. The following assumptions were used in the Monte Carlo simulation for TSR PRAs granted during the year ended December 31, 2023: Expected term (in years) 1 - 3 Risk-free interest rate 4.9% Assumed volatility 60.0% Expected dividend yield — A summary of activity relating to our share-based awards is reflected in the following table: (in thousands) Stock Option Awards Weighted- Restricted Stock Units Weighted- Performance Rights Awards Weighted- June 30, 2020 536 $ 16.88 — $ — 50 $ 5.20 Granted 135 35.14 37 64.08 10 6.50 Exercised or surrendered (15) 12.38 — — — — Expired/Vested (263) 15.97 — — — — June 30, 2021 393 21.16 37 64.08 60 5.42 Granted — — 14 59.17 — 6.50 Exercised or surrendered (120) 13.93 — — — — Forfeited — — — — (5) 6.50 Expired/Vested — — — — (25) 5.20 December 31, 2021 273 24.34 51 59.17 30 5.42 Granted 195 55.00 29 54.24 49 54.13 Exercised or surrendered (183) 14.92 (26) 58.33 — — Forfeited (20) 38.74 (18) 66.77 (35) 12.20 Expired/Vested — 65.00 — — — — December 31, 2022 265 52.23 36 57.12 44 54.27 Granted 72 67.50 71 60.94 69 100.57 Exercised or surrendered (2) 30.94 (25) 58.65 (22) 54.27 Forfeited — — (2) 51.81 (5) 62.56 Expired/Vested (40) 30.94 — — — — December 31, 2023 295 $ 58.99 80 $ 60.07 86 $ 90.80 Vested at December 31, 2023 76 $ 58.65 December 31, 2023 (in thousands) Option Shares Outstanding Option Shares Vested Weighted average remaining contractual term (in years) 6 8 Aggregate intrinsic value of share options $ — $ —

EMPLOYEE BENEFIT PLAN

EMPLOYEE BENEFIT PLAN	12 Months Ended
	Dec. 31, 2023
Retirement Benefits [Abstract]
EMPLOYEE BENEFIT PLAN	EMPLOYEE BENEFIT PLAN Our employees may participate in the 401(k) Plan, a defined contribution plan which qualifies under Section 401(k) of the Internal Revenue Code. The 401(k) Plan was effective January 1, 2022. Participating employees may contribute up to 100% of their pre-tax earnings up to the statutory limit. 401(k) matching contribution expenses is included in “Selling, general and administrative expenses” in our consolidated statements of operations as follows: Years Ended Six Months Ended Year Ended (in thousands) 2023 2022 401(k) matching contribution expenses $ 262 $ 236 $ 78 $ 147

EARNINGS PER SHARE

EARNINGS PER SHARE	12 Months Ended
	Dec. 31, 2023
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: Years Ended Six Months Ended Year Ended (in thousands, except per share amounts) 2023 2022 Net loss $ (21,777) $ (12,975) $ (21,348) $ (19,994) Weighted-average number of common shares used in calculating basic and dilutive loss per share 19,033 17,518 15,869 13,551 Basic and diluted net loss per weighted-average share $ (1.14) $ (0.74) $ (1.35) $ (1.48) 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: Years Ended Six Months Ended Year Ended (in thousands) 2023 2022 Stock options 295 265 273 393 RSUs 80 36 51 37 PRAs 86 44 30 60 Total potentially dilutive shares 461 345 354 490

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Loss before income taxes and current and deferred income tax expense are composed of the following: Years Ended Six Months Ended Year Ended (in thousands) 2023 2022 Loss before income taxes: Domestic $ (30,116) $ (31,651) $ (20,657) $ (17,601) Foreign 11,445 21,815 (691) (2,393) Total $ (18,671) $ (9,836) $ (21,348) $ (19,994) The reconciliation of the U.S. federal statutory tax rate to our effective income tax rate is as follows: Years Ended Six Months Ended Year Ended (in thousands) 2023 2022 Pre-tax loss $ (18,671) $ (9,836) $ (21,348) $ (19,994) Benefit at statutory rate (21%) (3,921) (2,065) (4,483) (4,199) Foreign rate differential 766 1,963 (62) (22) Non-deductible transaction costs — — — 300 U.S. inclusion of foreign earnings 265 — — — Executive compensation 1,022 421 143 — Research and development tax credit (391) — — — Permanent items 298 (583) (246) 141 Foreign exchange differences — (840) 17 — Branch deferred taxes 1,749 4,003 — — State taxes 960 511 509 (986) Other adjustments — — 290 — Change in valuation allowance 2,358 (271) 3,832 4,766 Income tax expense $ 3,106 $ 3,139 $ — $ — Tax expense for the years ended December 31, 2023 and 2022 related entirely to foreign deferred taxes. Deferred income tax assets and liabilities recorded in the consolidated balance sheets consisted of the following: (in thousands) December 31, December 31, Deferred tax assets Accrued expenditures $ 773 $ 887 Exploration expenditures 363 168 Stock-based compensation 1,593 895 Tax carryforwards 26,693 21,851 Other deferred tax assets 1,556 1,432 Gross deferred tax assets 30,978 25,233 Valuation allowance (19,791) (17,751) Deferred tax assets $ 11,187 $ 7,482 Deferred tax liabilities Equity method investments $ (16,164) $ (9,440) Other deferred tax liabilities (1,046) (923) Deferred tax liabilities (17,210) (10,363) Net deferred tax liability $ (6,023) $ (2,881) Net deferred tax liabilities increased $3.1 million in the year ended December 31, 2023 as compared to the year ended December 31, 2022 . The increase was driven by the gain on dilution of equity method investments. Changes in the balances of our deferred tax asset valuation allowance were as follows: Years Ended Six Months Ended Year Ended (in thousands) 2023 2022 Beginning balance $ 17,751 $ 17,187 $ 13,355 $ 8,589 Charged to other accounts (317) 835 — — Charged to income tax expense 2,357 (271) 3,832 4,766 Ending balance $ 19,791 $ 17,751 $ 17,187 $ 13,355 Total net operating losses available were as follows: (in thousands) December 31, December 31, Begin to expire U.S. - Federal $ 14,833 $ 9,597 2037 — Indefinite U.S. - State — 743 2032 Australia - Federal 3,923 3,697 Indefinite Australia - Capital 259 258 Indefinite Total $ 19,015 $ 14,295 During the year ending December 31, 2023, we increased our reserve for uncertain income tax positions by $98 related to research and development tax credits. As of December 31, 2023, we accrued no interest or penalties, and no unrecognized net tax benefits that, if recognized, would affect our effective tax rate in any future period. We do not expect our unrecognized tax benefits will significantly change within the next twelve months. Interest and penalties related to income tax matters are classified as a component of income tax expense. A reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows: Years Ended Six Months Ended Year Ended (in thousands) 2023 2022 Beginning balance $ — $ — $ — $ — Additions for tax positions related to prior years (60) — — — Additions for tax positions related to current year (38) — — — Ending balance $ (98) $ — $ — $ — 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.

PROPERTY, PLANT AND MINE DEVELO

PROPERTY, PLANT AND MINE DEVELOPMENT	12 Months Ended
	Dec. 31, 2023
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: (in thousands) December 31, December 31, Mining interests $ 81,481 $ 56,120 Mine development 6,255 3,050 Land 3,259 720 Leasehold improvements 401 281 Facilities and equipment 916 675 Construction in process 35,101 10,780 Property, plant and mine development 127,413 71,626 Accumulated depreciation (327) (85) Property, plant and mine development, net $ 127,086 $ 71,541 Mining interests and mine development costs relate to Carolina Lithium. Our construction in process primarily relates to capitalized costs associated with Tennessee Lithium. Depletion of mining interests and mine development assets does not commence until the assets are placed in service. As of December 31, 2023, we have not recorded depletion expense for any of our mining interests or mine development assets. Depreciation expense is included in “Selling, general and administrative expenses” in our consolidated statements of operations as follows: Years Ended Six Months Ended Year Ended (in thousands) 2023 2022 Depreciation expense $ 241 $ 74 $ 9 $ 12

EQUITY METHOD INVESTMENTS

EQUITY METHOD INVESTMENTS	12 Months Ended
	Dec. 31, 2023
Equity Method Investments and Joint Ventures [Abstract]
EQUITY METHOD INVESTMENTS	EQUITY METHOD INVESTMENTS 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 Sayona Mining, Sayona Quebec, Atlantic Lithium, and Vinland Lithium as equity method investments. The following table summarizes the carrying amounts, including changes therein, of our equity method investments: Year Ended December 31, 2023 (in thousands) Sayona Mining Sayona Quebec Atlantic Lithium Vinland Lithium Total Balance at June 30, 2021 $ 11,195 $ 5,068 $ — $ — $ 16,263 Initial investment (1) — — 15,970 — 15,970 Additional investments (2) 7,423 20,211 — — 27,634 Return of capital (3) — — (514) — (514) Loss from equity method investments (526) (62) (54) — (642) Foreign currency translation adjustment of equity method investments 164 — (2) — 162 Balance at December 31, 2021 18,256 25,217 15,400 — 58,873 Additional investments 1,445 19,617 — — 21,062 Gain (loss) on dilution of equity method investments (4) 29,402 — (447) — 28,955 Loss from equity method investments (3,104) (2,500) (2,748) — (8,352) Foreign currency translation adjustment of equity method investments (1,379) (2,571) (940) — (4,890) Balance at December 31, 2022 44,620 39,763 11,265 — 95,648 Initial investment (5) — — — 1,746 1,746 Additional investments 552 30,900 41 — 31,493 Gain on dilution of equity method investments (6) 16,850 — 125 — 16,975 Impairment of equity method investment (7) (2,242) — — — (2,242) Income (loss) from equity method investments (8) (304) 4,433 (1,693) — 2,436 Foreign currency translation adjustment of equity method investments 18 1,456 87 45 1,606 Balance at December 31, 2023 $ 59,494 $ 76,552 $ 9,825 $ 1,791 $ 147,662 __________________________ (1) Initial investment includes transaction costs of $0.1 million for the six months ended December 31, 2021. (2) Additional investment includes transaction costs of $0.2 million for the six months ended December 31, 2021. (3) 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 10 —Other Assets and Liabilities ). (4) 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. (5) Initial investment includes transaction costs of $0.3 million for the year ended December 31, 2023. (6) Gain on dilution of equity method investments relates to issuances of additional shares of Sayona Mining and Atlantic Lithium, which reduced our ownership interest in both Sayona Mining and Atlantic Lithium. (7) Impairment of equity method investment represents the difference between the carrying value, which includes $46.3 million in accumulated gains on dilution, and fair value of Sayona Mining as of December 31, 2023, and is included income (loss) from equity method investments in the accompanying consolidated statements of operations. (8) Certain immaterial, out-of-period amounts, related to our proportionate share of the results of Sayona Mining and Sayona Quebec have been included in our current period results. We continue to evaluate operational developments and the impact of the anticipated expansion of the operations of our existing equity method investees. Sayona Quebec’s restart of NAL and Atlantic Lithium’s completion of a technical study for Ewoyaa were impactful to the consideration of how we most appropriately reflect our proportional share of income (loss) from our equity method investments. We began supplying the market with spodumene concentrate from NAL in the third quarter of 2023. Upon completion of construction of Tennessee Lithium, spodumene concentrate from Ewoyaa is expected to supply the majority of the spodumene concentrate required by Tennessee Lithium for conversion to lithium hydroxide. Our share of income (loss) from Sayona Mining, Sayona Quebec, Atlantic Lithium, and Vinland Lithium is recorded on a one-quarter lag in “Income (loss) from equity method investments” within “Loss from operations” in our consolidated statements of operations. Below is a summary of our equity method investments as of December 31, 2023. Sayona Mining As of December 31, 2023, we owned an equity interest of approximately 12% 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 produce spodumene concentrate in Quebec, Canada. During the years ended December 31, 2023 and 2022, we reported the effects of Sayona Mining raising additional capital through share issuances of its common stock. We did not participate in these share issuances, which were issued at a valuation greater than the carrying value of our ownership interest. As a result, our ownership interest in Sayona Mining was diluted and declined. We recognized a noncash gain of $17.0 million and $29.0 million in the years ended December 31, 2023 and 2022, respectively, related to the dilution of our ownership interest. We recorded the gain within “Gain on dilution of equity method investments” in our consolidated statements of operations. As of December 31, 2023, the market value of Sayona Mining was less than our carrying value. During the year ended December 31, 2023, we determined the decline was other than temporary and recorded a $2.2 million impairment charge as a component of income (loss) from equity method investments in the accompanying consolidated statements of operations. The fair value was based on the quoted market price of Sayona Mining at December 31, 2023, which is considered to be a Level 1 fair value measurement. See Note 16— Subsequent Events . 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. The remaining 75% equity interest is held by Sayona Mining. Sayona Quebec holds a 100% interest in NAL, which consists of a surface mine and a concentrator plant, as well as the Authier Lithium project and the Tansim Lithium project. We hold a life-of-mine offtake agreement with Sayona Quebec for the greater of 113,000 metric tons or 50% of spodumene concentrate production per year. Our purchases of spodumene concentrate 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 for 6.0% spodumene concentrate on an FOB North Carolina basis. In addition to lithium mining and concentrate production, NAL owns a partially completed lithium carbonate plant, which was developed by a prior operator of NAL. Sayona Quebec completed a preliminary technical study for the completion and restart of the NAL carbonate plant during the quarter ended June 30, 2023. If we decide to construct and operate a lithium conversion plant with Sayona Mining through our joint venture, Sayona Quebec, spodumene concentrate produced from NAL would be preferentially delivered to that conversion plant upon commencement of conversion operations. Any remaining spodumene concentrate not delivered the conversion plant would first be sold to us up to our offtake right and then to third parties. Any decision to construct jointly-owned lithium conversion capacity must be agreed upon by both parties. During the year ended December 31, 2023, NAL produced approximately 98,800 dmt of spodumene concentrate and shipped 72,100 dmt, of which 43,200 dmt were sold to Piedmont Lithium. We, in turn, generated $39.8 million of sales on those 43,200 dmt, with a realized sales price of $920 per dmt and a realized cost of sales of $789 per dmt, resulting in a gross profit margin of 14.3%. Atlantic Lithium As of December 31, 2023, we owned 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. We have a strategic partnership with Atlantic Lithium to explore, evaluate, mine, develop, and ultimately produce spodumene concentrate in Ghana. We have the right to acquire up to a 50% equity interest in Atlantic Lithium Ghana, a subsidiary of Atlantic Lithium that owns Ewoyaa, through current and future phased 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 at market prices. See Note 10— Other Assets and Liabilities . Vinland Lithium We own an equity interest of approximately 20% in Vinland Lithium, a Canadian-based entity jointly owned with Sokoman Minerals and Benton Resources. Vinland Lithium currently owns Killick Lithium, a large exploration property prospective for lithium located in southern Newfoundland, Canada. We have entered into an earn-in agreement with Vinland Lithium to acquire up to a 62.5% equity interest in Killick Lithium through current and future phased investments. Summarized Financial Information Our share of income (loss) is recorded on a one-quarter lag and is derived from the balances below, which have been compiled from information provided to us by each investee and is presented in accordance with U.S. GAAP. Summarized financial information for the year ended and as of December 31, 2023: (in thousands) Sayona Mining Sayona Quebec Atlantic Lithium Summarized statement of operations information: Revenue $ 43,925 $ 58,514 $ — Gross Profit 11,912 16,580 — Net loss from operations (456) 17,733 (18,068) Other comprehensive income (loss), net of tax 2,405 — 1,198 Comprehensive loss 1,949 17,733 (16,870) Summarized balance sheet information: Current assets 240,101 116,446 8,901 Non-current assets 413,886 261,662 5,591 Current liabilities 58,577 38,581 3,724 Non-current liabilities 56,646 53,576 23,409 Summarized financial information for the year ended and as of December 31, 2022: (in thousands) Sayona Mining Sayona Quebec Atlantic Lithium Summarized statement of operations information: Revenue $ — $ — $ — Net loss from operations (19,274) (9,996) (39,801) Other comprehensive income (loss), net of tax 10,424 179 (32) Comprehensive loss (8,850) (9,817) (39,833) Summarized balance sheet information: Current assets 122,253 24,869 19,394 Non-current assets 237,656 147,954 1,074 Current liabilities 5,299 3,195 3,896 Non-current liabilities 57,987 88,184 15,613 Summarized financial information for the six months ended and as of December 31, 2021: (in thousands) Sayona Mining Sayona Quebec Atlantic Lithium Summarized statement of operations information: Revenue $ — $ — $ — Net loss from operations (2,692) (252) (540) Other comprehensive income (loss), net of tax 844 — (21) Comprehensive loss (1,848) (252) (561) Summarized balance sheet information: Current assets 18,302 712 24,332 Non-current assets 99,753 97,957 43,442 Current liabilities 2,071 917 3,354 Non-current liabilities 23 — — Summarized financial information for the year ended and as of June 30, 2021: (in thousands) Sayona Mining Summarized statement of operations information: Revenue $ — Net loss from operations (325) Other comprehensive income (loss), net of tax (157) Comprehensive loss (482) Summarized balance sheet information: Current assets 9,711 Non-current assets 17,719 Current liabilities 4,746 Non-current liabilities 24 For the years ended December 31, 2023 and 2022, Sayona Mining and Sayona Quebec met the conditions required to be significant at the 20% level under Rule 1-02(w) of Regulation S-X. Accordingly, as required by Rule 3-09 of Regulation S-X, we have included the consolidated audited financial statements of Sayona Mining, which include Sayona Quebec, as of and for their most recent fiscal year ended June 30, 2023, with a comparative period of 2022, as Exhibit 99.4 and for the year ended June 30, 2022, with a comparative period of 2021, as Exhibit 99.2 to this Annual Report on Form 10-K. For the year ended December 31, 2023, Atlantic Lithium did not meet the conditions required to be significant at the 20% level under Rule 1-02(w) of Regulation S-X. For the year ended December 31, 2022, Atlantic Lithium did meet the conditions required to be considered significant at the 20% level under Rule 1-02(w) of Regulation S-X. Accordingly, as required by Rule 3-09 of Regulation S-X, we have included the consolidated audited financial statements of Atlantic Lithium as of and for the years ended June 30, 2022 and 2021, as Exhibit 99.1, and unaudited financial statements as of and for the years ended June 30, 2023 and 2022, as Exhibit 99.3 to this Annual Report on form 10-K. There is no audit opinion, or any other form of assurance provided by an independent auditor with respect to Atlantic Lithium’s financial statements as of and for the year ended June 30, 2023.

OTHER ASSETS AND LIABILITIES

OTHER ASSETS AND LIABILITIES	12 Months Ended
	Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
OTHER ASSETS AND LIABILITIES	OTHER ASSETS AND LIABILITIES Other current assets consisted of the following: (in thousands) December 31, December 31, Prepaid and other current assets $ 3,345 $ 2,128 Investments in equity securities 484 484 Total other current assets $ 3,829 $ 2,612 As of December 31, 2023, our investments in equity securities consisted of common shares in 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: (in thousands) December 31, December 31, Advances to affiliates $ 28,189 $ 17,316 Operating lease right-of-use assets (Note 12) 1,371 1,293 Asset retirement obligation, net 1 (Note 15) 414 — Other non-current assets 379 264 Total other non-current assets $ 30,353 $ 18,873 __________________________ (1) Asset retirement obligation is net of accumulated amortization of $7 thousand and $0 as of December 31, 2023 and 2022, respectively. Advances to affiliates relate to staged investments for future planned lithium projects. We have an earn-in agreement with Vinland Lithium to acquire up to a 62.5% equity interest in Killick Lithium as well as 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 in two phases, each requiring us to make future staged investments in Ewoyaa over a period of time. We recently completed phase 1, which allows us to acquire a 22.5% equity interest in Atlantic Lithium Ghana by funding Ewoyaa’s exploration and DFS costs and notifying Atlantic Lithium of our intention to proceed with additional funding required under phase 2. We completed funding of exploration and DFS costs, and Atlantic Lithium issued their DFS in June 2023. In August, we supplied Atlantic Lithium with notification of our intent to proceed with additional funding. Our future equity interest ownership under phase 1 remains subject to government approvals required under Ghana’s Mineral and Mining Act. Phase 2 allows us to acquire an additional 27.5% equity interest in Atlantic Lithium Ghana upon completion of funding $70 million for capital costs associated with the development of Ewoyaa. Any cost savings or cost overruns from the initial commitment will be shared equally between Piedmont Lithium and Atlantic Lithium. Upon completion of phases 1 and 2, we expect to have a total equity interest of 50% in Atlantic Lithium Ghana. Atlantic Lithium Ghana, in turn, will hold an 81% interest in the Ewoyaa project net of the interests which will be held by the Ghanaian government, resulting in an effective ownership interest of 40.5% in Ewoyaa, by Piedmont Lithium. Funding costs are included in “Other non-current assets” in our consolidated balance sheets as an advance on our future phased investments in Atlantic Lithium Ghana. Our maximum exposure to a loss as a result of our involvement in Ewoyaa and Killick Lithium is limited to the total amount funded by Piedmont Lithium to Atlantic Lithium and Vinland Lithium. As of December 31, 2023, we did not own an equity interest in Atlantic Lithium Ghana or Killick Lithium. We have made advances to Vinland Lithium for Killick Lithium totaling $1.8 million for the year ended December 31, 2023, and have made advances to Atlantic Lithium for Ewoyaa totaling $9.4 million and $12.7 million during the years ended December 31, 2023 and 2022, respectively, and $4.3 million during the six months ended December 31, 2021. Other current liabilities consisted of the following: (in thousands) December 31, December 31, Accrued provisional revenue adjustment $ 29,151 $ — Operating lease liabilities (Note 12) 312 124 Total other current liabilities $ 29,463 $ 124 We recognize revenue from product sales at a point in time when performance obligations are satisfied under the terms of contracts with our customers. When the final price has not been resolved by the end of a reporting period, we estimate the expected sales price based on the initial price, market pricing and known quality measurements. Differences between payments received and the final estimated sales price, which results in a liability, are recorded as accrued provisional revenue adjustments. Other non-current liabilities consisted of the following: (in thousands) December 31, December 31, Asset retirement obligation liability (Note 15) $ 431 $ — Total other non-current liabilities $ 431 $ —
OTHER ASSETS AND LIABILITIES	OTHER ASSETS AND LIABILITIES Other current assets consisted of the following: (in thousands) December 31, December 31, Prepaid and other current assets $ 3,345 $ 2,128 Investments in equity securities 484 484 Total other current assets $ 3,829 $ 2,612 As of December 31, 2023, our investments in equity securities consisted of common shares in 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: (in thousands) December 31, December 31, Advances to affiliates $ 28,189 $ 17,316 Operating lease right-of-use assets (Note 12) 1,371 1,293 Asset retirement obligation, net 1 (Note 15) 414 — Other non-current assets 379 264 Total other non-current assets $ 30,353 $ 18,873 __________________________ (1) Asset retirement obligation is net of accumulated amortization of $7 thousand and $0 as of December 31, 2023 and 2022, respectively. Advances to affiliates relate to staged investments for future planned lithium projects. We have an earn-in agreement with Vinland Lithium to acquire up to a 62.5% equity interest in Killick Lithium as well as 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 in two phases, each requiring us to make future staged investments in Ewoyaa over a period of time. We recently completed phase 1, which allows us to acquire a 22.5% equity interest in Atlantic Lithium Ghana by funding Ewoyaa’s exploration and DFS costs and notifying Atlantic Lithium of our intention to proceed with additional funding required under phase 2. We completed funding of exploration and DFS costs, and Atlantic Lithium issued their DFS in June 2023. In August, we supplied Atlantic Lithium with notification of our intent to proceed with additional funding. Our future equity interest ownership under phase 1 remains subject to government approvals required under Ghana’s Mineral and Mining Act. Phase 2 allows us to acquire an additional 27.5% equity interest in Atlantic Lithium Ghana upon completion of funding $70 million for capital costs associated with the development of Ewoyaa. Any cost savings or cost overruns from the initial commitment will be shared equally between Piedmont Lithium and Atlantic Lithium. Upon completion of phases 1 and 2, we expect to have a total equity interest of 50% in Atlantic Lithium Ghana. Atlantic Lithium Ghana, in turn, will hold an 81% interest in the Ewoyaa project net of the interests which will be held by the Ghanaian government, resulting in an effective ownership interest of 40.5% in Ewoyaa, by Piedmont Lithium. Funding costs are included in “Other non-current assets” in our consolidated balance sheets as an advance on our future phased investments in Atlantic Lithium Ghana. Our maximum exposure to a loss as a result of our involvement in Ewoyaa and Killick Lithium is limited to the total amount funded by Piedmont Lithium to Atlantic Lithium and Vinland Lithium. As of December 31, 2023, we did not own an equity interest in Atlantic Lithium Ghana or Killick Lithium. We have made advances to Vinland Lithium for Killick Lithium totaling $1.8 million for the year ended December 31, 2023, and have made advances to Atlantic Lithium for Ewoyaa totaling $9.4 million and $12.7 million during the years ended December 31, 2023 and 2022, respectively, and $4.3 million during the six months ended December 31, 2021. Other current liabilities consisted of the following: (in thousands) December 31, December 31, Accrued provisional revenue adjustment $ 29,151 $ — Operating lease liabilities (Note 12) 312 124 Total other current liabilities $ 29,463 $ 124 We recognize revenue from product sales at a point in time when performance obligations are satisfied under the terms of contracts with our customers. When the final price has not been resolved by the end of a reporting period, we estimate the expected sales price based on the initial price, market pricing and known quality measurements. Differences between payments received and the final estimated sales price, which results in a liability, are recorded as accrued provisional revenue adjustments. Other non-current liabilities consisted of the following: (in thousands) December 31, December 31, Asset retirement obligation liability (Note 15) $ 431 $ — Total other non-current liabilities $ 431 $ —

LONG-TERM DEBT

LONG-TERM DEBT	12 Months Ended
	Dec. 31, 2023
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 $10,000 per month on terms ranging from 2 years 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: (in thousands) December 31, December 31, Current portion of long-term debt $ 149 $ 425 Long-term debt, net of current portion 14 163 Total long-term debt $ 163 $ 588 We paid interest on our long-term debt as follows: Years Ended Six Months Ended Year Ended (in thousands) 2023 2022 Interest paid $ 39 $ 115 $ 113 $ 271 Scheduled payments for the principal portion of our outstanding long-term debt are as follows: (in thousands) December 31, 2024 $ 149 2025 14 2026 — 2027 — Total $ 163

LEASES

LEASES	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
LEASES	LEASES We lease certain equipment and office space. Leases with an initial term of 12 months or less are not recorded on the consolidated balance sheet. Most leases include one or more options to renew, with renewal terms that can extend the lease term from one year to six years. The exercise of lease renewal options is at our sole discretion and we consider these options in determining the lease term used to establish our right-of-use assets and lease liabilities. Lease presentation in our consolidated balance sheets, components of lease costs and other lease information are presented in the following table: (in thousands) December 31, December 31, Assets: Right-of-use assets - operating lease $ 1,371 $ 1,293 Liabilities: Current 312 124 Non-current 1,091 1,177 Operating lease liabilities $ 1,403 $ 1,301 Years Ended Six Months Ended Year Ended (in thousands) 2023 2022 Statements of operations: Operating lease cost $ 389 $ 153 $ 84 $ 165 Short-term lease cost 168 106 67 79 Sublease income — 51 62 121 Other information: Right-of-use assets obtained in exchange for new operating lease liabilities $ 323 $ 1,339 $ — $ 15 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 365 $ 143 $ 86 $ 166 Weighted-average remaining lease term (in months) 60 80 3 11 Weighted-average discount rate 10% 10% 10% 10% Maturities of lease payments under non-cancellable leases are as follows: (in thousands) December 31, 2023 2024 $ 439 2025 325 2026 272 2027 280 2028 289 Thereafter 196 Total future minimum lease payments 1,801 Interest included within lease payments (398) Total operating lease liabilities $ 1,403

EQUITY

EQUITY	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
EQUITY	EQUITY Piedmont Lithium acquired all of the issued and outstanding ordinary shares of 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. 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. 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.” 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, 2023 In November 2023, we issued a total of 62,638 shares with an issue price of $29.32 per share as an advance of our funding obligations to the Killick Lithium project. There were no share issuance costs associated with the issuance and the value of the shares were treated as an advance within our earn-in agreement with Vinland Lithium to acquire up to a 62.5% equity interest in Killick Lithium through staged-investments. In February 2023, we received $75 million from LG Chem in exchange for 1,096,535 common shares in Piedmont Lithium at an approximate price of $68.40 per share and in conjunction with a multi-year spodumene concentrate offtake agreement. Share issuance costs associated with the subscription totaled $3.9 million and were accounted for as a reduction in the proceeds from share issuances in the consolidated balance sheets. 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, 2023 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 $12.8 million 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.

SEGMENT REPORTING

SEGMENT REPORTING	12 Months Ended
	Dec. 31, 2023
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 that operates as a single business platform. In reaching this conclusion, management considered the definition of the 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 assessed. 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, 2023
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. 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 below. In September 2022, 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 second paragraph of this section, and the Court ordered the case stayed in October 2022. 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 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 September 8, 2023, the parties in the Thomascik and Varbaro cases stipulated to consolidate the two actions. That stipulation has not yet been acted on by the court. In July 2021, a class of putative plaintiffs filed a lawsuit against us in the U.S. District Court for the Eastern District of New York claiming violations of 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. On January 18, 2024, the Court granted our Motion to Dismiss the amended complaint. The lead plaintiff’s deadline to appeal the decision of the Court expired. As of the date of this Annual Report, the lead plaintiff did not appeal the decision of the Court. On February 6, 2024, the SEC issued an investigative subpoena to the Company primarily seeking documents and information relating to the Company’s mining-related investments and operations outside of the United States. The Company is cooperating with the SEC to respond to the subpoena in a timely manner. Asset Retirement Obligations In 2023, we recognized an asset retirement obligation of $0.4 million related to the acquisition of a disposal facility in Etowah, Tennessee, for Tennessee Lithium. In determining the asset retirement obligation, we calculated the present value of the estimated future cash flows required to reclaim the disturbed areas and perform any required monitoring. Other Commitments and Contingencies In May 2023, we entered into a community development agreement with the City of Cherryville, North Carolina, whereby we committed to fund $11.0 million as follows: (i) $1.0 million to support certain parks and recreation projects and the reestablishment of a department of recreation, of which $0.5 million was paid in July 2023 and $0.5 million was paid in October 2023, and (ii) $10.0 million to be paid in annual installments of $0.5 million over a 20-year period commencing upon the first shipment of lithium hydroxide from Carolina Lithium. As part of the agreement, the City of Cherryville relinquished extraterritorial zoning jurisdiction over certain real property owned by Piedmont Lithium to Gaston County, North Carolina.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS During the first quarter 2024, through the date of this filing, we sold approximately 24.5 million shares of Atlantic Lithium for an average of $0.32 per share. The shares sold represented approximately 4% of Atlantic Lithium’s outstanding shares and resulted in approximately $7.8 million in net proceeds. We retained approximately 32.5 million shares, representing approximately 5% ownership in Atlantic Lithium. In connection with the sale of these shares, we no longer hold a board seat with Atlantic Lithium. Our reduced ownership in Atlantic Lithium has no impact on our earn-in or offtake rights with Atlantic Lithium and the Ewoyaa project. During the first quarter of 2024, we sold approximately 1,249.8 million shares of Sayona Mining for an average of $0.03 per share. The shares sold represented approximately 12% of Sayona Mining’s outstanding shares and resulted in approximately $41.4 million in net proceeds. Our cost basis and book basis of Sayona Mining was approximately $20.9 million and $59.5 million, respectively. The difference between cost basis and book basis of our investment is primarily related to the non-cash accumulated gains on dilution of $46.3 million, partially offset by our proportional share of losses during the period we’ve held the shares. The sale of these shares is estimated to result in a loss, net of tax, of between $12 million and $16 million, pending the inclusion of our proportional share of income (loss), including the quarter lag true-up, of Sayona through the date of sale. See Note 9— Equity Method Investments , for further discussion of our accounting for equity method investments. Piedmont Lithium no longer holds shares of Sayona Mining. The sale of these shares has no impact on Piedmont Lithium’s joint venture or offtake rights with Sayona Quebec. In February 2024, we initiated a cost-savings plan to reduce operating expenses and certain capital expenditures. We expect to achieve approximately $10 million in annual cash savings associated with a reduction in our operating expenses. As part of our cost-savings plan, we reduced our workforce by 27% mainly within our corporate office staff and will record approximately $1 million in severance and severance related costs in the first quarter of 2024. We expect to recognize the majority of our cost savings in 2024.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2021
Pay vs Performance Disclosure
Net loss	$ (21,348)	$ (21,777)	$ (12,975)	$ (19,994)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
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. GAAP and in conformity with the rules and regulations of 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. Our reporting currency is U.S. dollars, and we operate on a calendar fiscal year. These consolidated financial statements reflect all adjustments and reclassifications that, in the opinion of management, are considered necessary for a fair statement of the results of operations, financial position, and cash flows for the periods presented.
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, provisional revenue adjustments, collectability of receivables 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 estimates and actual results, future results of operations will be affected.
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 method investments in international projects, permitting and construction delays, the need for additional capital or financing to fund operating losses, competition from substitute products and services, protection of proprietary technology, litigation, and dependence on key individuals. We have accumulated deficits of $126.8 million and $105.7 million as of December 31, 2023 and December 31, 2022, respectively. 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, capital expenditures, and investments as necessary. We may continue to incur investing net cash outflows associated with, among other things, funding capital projects, development-stage technical studies, permitting activities associated with our projects, funding our expected 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.
Revenue Recognition	Revenue Recognition We recognize revenue from product sales at a point in time when performance obligations are satisfied under the terms of contracts with our customers. A performance obligation is deemed to be satisfied when control of the product is transferred to our customer, which is typically upon delivery to the shipping carrier. Where a contract contains more than one distinct performance obligation, the transaction price is allocated to each performance obligation based on the standalone selling price of each performance obligation, although these situations do not occur frequently and are generally not built into our contracts. Revenue is measured as the amount of consideration expected to be received in exchange for transferring the goods. Initial pricing is typically billed 5 days to 30 days after the departure of the shipment and paid between 15 days to 75 days. Final adjustments to prices may take longer to resolve. When the final price has not been resolved by the end of a reporting period, we estimate the expected sales price based on the initial price, market pricing and known quality measurements. We warrant to our customers that our products conform to mutually agreed product specifications. We have elected to account for shipping and handling costs for spodumene concentrate contracts as fulfillment activities and not as promised goods or services; therefore, these activities are not considered separate performance obligations. We have elected the practical expedient relating to significant financing components and as such will not consider the possibility of a contract having a significant financing component (which would effectively attribute a portion of the sales price to interest income) unless, if at contract inception, the expected payment terms (from time of delivery or other relevant criterion) are more than one year. Our lithium products are sold to global and regional customers in the electric vehicle and electronics markets, among others. We currently work with end users in a number of markets to tailor our products to their specifications and will work with these end users as we add more products.
Exploration Costs	Exploration 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. 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 our reporting currency, U.S. dollars. 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.
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 as well as the Monte Carlo simulation. 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, 2023 and 2022, we had $0.2 million and $0.6 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, 2023 and 2022, 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 10— Other Assets and Liabilities . • 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 it 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” in our consolidated statements of operations.
Equity Method Investments	Equity Method Investments 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”, 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 be impaired. If a decline in the value of an equity method investment is determined to be other than temporary, then we record a loss as a component of our share of earnings or losses of the equity method investee in the current period. There were $2.2 million in impairment losses for the year ended December 31, 2023. No impairment losses were recorded on equity method investments for any other period presented. See Note 9— Equity Method Investments
Leases	Leases We account for leases in accordance with ASC Topic 842, “Lease s, ” which requires lessees to recognize lease liabilities and 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 12— 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 “Selling, general and administrative expenses” in the consolidated statements of operations.
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 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, 2023, we had no wholly owned 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,
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.

REVENUE (Tables)

REVENUE (Tables)	12 Months Ended
	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	Revenue for the year ended December 31, 2023 is reflected in the following table: (in thousands) Spodumene concentrate sales $ 54,898 Provisional revenue adjustments (15,081) Revenue $ 39,817

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Stock-Based Compensation Expense	Stock-based compensation related to all stock-based incentive plans is presented in the following table: Years Ended Six Months Ended Year Ended (in thousands) 2023 2022 Components of stock-based compensation: Stock-based compensation $ 9,770 $ 4,631 $ 2,003 $ 1,319 Stock-based compensation forfeitures (21) (859) — — Stock-based compensation, net of forfeitures $ 9,749 $ 3,772 $ 2,003 $ 1,319 Presentation of stock-based compensation in the consolidated financial statements: Exploration costs $ 154 $ 161 $ 688 $ 495 Selling, general and administrative expenses 9,362 3,329 1,315 824 Stock-based compensation expense, net of forfeitures (1) 9,516 3,490 2,003 1,319 Capitalized stock-based compensation (2) 233 282 — — Stock-based compensation, net of forfeitures $ 9,749 $ 3,772 $ 2,003 $ 1,319 __________________________ (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 Assumptions Were Used to Estimate the Fair Value of Stock options	The following assumptions were used to estimate the fair value of stock options granted during the periods presented below: Years Ended December 31, December 31, June 30, Expected life of options (in years) 6.2 - 6.4 5.3 - 6.4 5.3 - 6.3 Risk-free interest rate 3.9% - 4.2% 1.1% - 3.4% 0.9% - 1.2% Assumed volatility 40% 50% 50% Expected dividend rate 0% 0% 0%
Schedule of Share-Based Payment Award, Non-Option Equity Instruments, Valuation Assumptions	The following assumptions were used in the Monte Carlo simulation for TSR PRAs granted during the year ended December 31, 2023: Expected term (in years) 1 - 3 Risk-free interest rate 4.9% Assumed volatility 60.0% Expected dividend yield —
Schedule of Share-Based Payment Arrangement, Activity	A summary of activity relating to our share-based awards is reflected in the following table: (in thousands) Stock Option Awards Weighted- Restricted Stock Units Weighted- Performance Rights Awards Weighted- June 30, 2020 536 $ 16.88 — $ — 50 $ 5.20 Granted 135 35.14 37 64.08 10 6.50 Exercised or surrendered (15) 12.38 — — — — Expired/Vested (263) 15.97 — — — — June 30, 2021 393 21.16 37 64.08 60 5.42 Granted — — 14 59.17 — 6.50 Exercised or surrendered (120) 13.93 — — — — Forfeited — — — — (5) 6.50 Expired/Vested — — — — (25) 5.20 December 31, 2021 273 24.34 51 59.17 30 5.42 Granted 195 55.00 29 54.24 49 54.13 Exercised or surrendered (183) 14.92 (26) 58.33 — — Forfeited (20) 38.74 (18) 66.77 (35) 12.20 Expired/Vested — 65.00 — — — — December 31, 2022 265 52.23 36 57.12 44 54.27 Granted 72 67.50 71 60.94 69 100.57 Exercised or surrendered (2) 30.94 (25) 58.65 (22) 54.27 Forfeited — — (2) 51.81 (5) 62.56 Expired/Vested (40) 30.94 — — — — December 31, 2023 295 $ 58.99 80 $ 60.07 86 $ 90.80 Vested at December 31, 2023 76 $ 58.65 December 31, 2023 (in thousands) Option Shares Outstanding Option Shares Vested Weighted average remaining contractual term (in years) 6 8 Aggregate intrinsic value of share options $ — $ —

EMPLOYEE BENEFIT PLAN (Tables)

EMPLOYEE BENEFIT PLAN (Tables)	12 Months Ended
	Dec. 31, 2023
Retirement Benefits [Abstract]
Schedule of 401(k) Matching Contribution Expenses	401(k) matching contribution expenses is included in “Selling, general and administrative expenses” in our consolidated statements of operations as follows: Years Ended Six Months Ended Year Ended (in thousands) 2023 2022 401(k) matching contribution expenses $ 262 $ 236 $ 78 $ 147

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	12 Months Ended
	Dec. 31, 2023
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: Years Ended Six Months Ended Year Ended (in thousands, except per share amounts) 2023 2022 Net loss $ (21,777) $ (12,975) $ (21,348) $ (19,994) Weighted-average number of common shares used in calculating basic and dilutive loss per share 19,033 17,518 15,869 13,551 Basic and diluted net loss per weighted-average share $ (1.14) $ (0.74) $ (1.35) $ (1.48)
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: Years Ended Six Months Ended Year Ended (in thousands) 2023 2022 Stock options 295 265 273 393 RSUs 80 36 51 37 PRAs 86 44 30 60 Total potentially dilutive shares 461 345 354 490

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2023
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: Years Ended Six Months Ended Year Ended (in thousands) 2023 2022 Loss before income taxes: Domestic $ (30,116) $ (31,651) $ (20,657) $ (17,601) Foreign 11,445 21,815 (691) (2,393) Total $ (18,671) $ (9,836) $ (21,348) $ (19,994)
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: Years Ended Six Months Ended Year Ended (in thousands) 2023 2022 Pre-tax loss $ (18,671) $ (9,836) $ (21,348) $ (19,994) Benefit at statutory rate (21%) (3,921) (2,065) (4,483) (4,199) Foreign rate differential 766 1,963 (62) (22) Non-deductible transaction costs — — — 300 U.S. inclusion of foreign earnings 265 — — — Executive compensation 1,022 421 143 — Research and development tax credit (391) — — — Permanent items 298 (583) (246) 141 Foreign exchange differences — (840) 17 — Branch deferred taxes 1,749 4,003 — — State taxes 960 511 509 (986) Other adjustments — — 290 — Change in valuation allowance 2,358 (271) 3,832 4,766 Income tax expense $ 3,106 $ 3,139 $ — $ —
Schedule of Deferred Tax Assets and Liabilities	Deferred income tax assets and liabilities recorded in the consolidated balance sheets consisted of the following: (in thousands) December 31, December 31, Deferred tax assets Accrued expenditures $ 773 $ 887 Exploration expenditures 363 168 Stock-based compensation 1,593 895 Tax carryforwards 26,693 21,851 Other deferred tax assets 1,556 1,432 Gross deferred tax assets 30,978 25,233 Valuation allowance (19,791) (17,751) Deferred tax assets $ 11,187 $ 7,482 Deferred tax liabilities Equity method investments $ (16,164) $ (9,440) Other deferred tax liabilities (1,046) (923) Deferred tax liabilities (17,210) (10,363) Net deferred tax liability $ (6,023) $ (2,881)
Schedule of Changes in Deferred Tax Asset Valuation Allowance	Changes in the balances of our deferred tax asset valuation allowance were as follows: Years Ended Six Months Ended Year Ended (in thousands) 2023 2022 Beginning balance $ 17,751 $ 17,187 $ 13,355 $ 8,589 Charged to other accounts (317) 835 — — Charged to income tax expense 2,357 (271) 3,832 4,766 Ending balance $ 19,791 $ 17,751 $ 17,187 $ 13,355
Schedule of Net Operating Loss Carryforwards	Total net operating losses available were as follows: (in thousands) December 31, December 31, Begin to expire U.S. - Federal $ 14,833 $ 9,597 2037 — Indefinite U.S. - State — 743 2032 Australia - Federal 3,923 3,697 Indefinite Australia - Capital 259 258 Indefinite Total $ 19,015 $ 14,295
Schedule of Unrecognized Tax Benefits Roll Forward	A reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows: Years Ended Six Months Ended Year Ended (in thousands) 2023 2022 Beginning balance $ — $ — $ — $ — Additions for tax positions related to prior years (60) — — — Additions for tax positions related to current year (38) — — — Ending balance $ (98) $ — $ — $ —

PROPERTY, PLANT AND MINE DEVE_2

PROPERTY, PLANT AND MINE DEVELOPMENT (Tables)	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment, Net	Property, plant and mine development, net, is presented in the following table: (in thousands) December 31, December 31, Mining interests $ 81,481 $ 56,120 Mine development 6,255 3,050 Land 3,259 720 Leasehold improvements 401 281 Facilities and equipment 916 675 Construction in process 35,101 10,780 Property, plant and mine development 127,413 71,626 Accumulated depreciation (327) (85) Property, plant and mine development, net $ 127,086 $ 71,541
Schedule of Depreciation Expenses	Depreciation expense is included in “Selling, general and administrative expenses” in our consolidated statements of operations as follows: Years Ended Six Months Ended Year Ended (in thousands) 2023 2022 Depreciation expense $ 241 $ 74 $ 9 $ 12

EQUITY METHOD INVESTMENTS (Tabl

EQUITY METHOD INVESTMENTS (Tables)	12 Months Ended
	Dec. 31, 2023
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Equity Method Investments	The following table summarizes the carrying amounts, including changes therein, of our equity method investments: Year Ended December 31, 2023 (in thousands) Sayona Mining Sayona Quebec Atlantic Lithium Vinland Lithium Total Balance at June 30, 2021 $ 11,195 $ 5,068 $ — $ — $ 16,263 Initial investment (1) — — 15,970 — 15,970 Additional investments (2) 7,423 20,211 — — 27,634 Return of capital (3) — — (514) — (514) Loss from equity method investments (526) (62) (54) — (642) Foreign currency translation adjustment of equity method investments 164 — (2) — 162 Balance at December 31, 2021 18,256 25,217 15,400 — 58,873 Additional investments 1,445 19,617 — — 21,062 Gain (loss) on dilution of equity method investments (4) 29,402 — (447) — 28,955 Loss from equity method investments (3,104) (2,500) (2,748) — (8,352) Foreign currency translation adjustment of equity method investments (1,379) (2,571) (940) — (4,890) Balance at December 31, 2022 44,620 39,763 11,265 — 95,648 Initial investment (5) — — — 1,746 1,746 Additional investments 552 30,900 41 — 31,493 Gain on dilution of equity method investments (6) 16,850 — 125 — 16,975 Impairment of equity method investment (7) (2,242) — — — (2,242) Income (loss) from equity method investments (8) (304) 4,433 (1,693) — 2,436 Foreign currency translation adjustment of equity method investments 18 1,456 87 45 1,606 Balance at December 31, 2023 $ 59,494 $ 76,552 $ 9,825 $ 1,791 $ 147,662 __________________________ (1) Initial investment includes transaction costs of $0.1 million for the six months ended December 31, 2021. (2) Additional investment includes transaction costs of $0.2 million for the six months ended December 31, 2021. (3) 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 10 —Other Assets and Liabilities ). (4) 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. (5) Initial investment includes transaction costs of $0.3 million for the year ended December 31, 2023. (6) Gain on dilution of equity method investments relates to issuances of additional shares of Sayona Mining and Atlantic Lithium, which reduced our ownership interest in both Sayona Mining and Atlantic Lithium. (7) Impairment of equity method investment represents the difference between the carrying value, which includes $46.3 million in accumulated gains on dilution, and fair value of Sayona Mining as of December 31, 2023, and is included income (loss) from equity method investments in the accompanying consolidated statements of operations. (8) Certain immaterial, out-of-period amounts, related to our proportionate share of the results of Sayona Mining and Sayona Quebec have been included in our current period results. Summarized financial information for the year ended and as of December 31, 2023: (in thousands) Sayona Mining Sayona Quebec Atlantic Lithium Summarized statement of operations information: Revenue $ 43,925 $ 58,514 $ — Gross Profit 11,912 16,580 — Net loss from operations (456) 17,733 (18,068) Other comprehensive income (loss), net of tax 2,405 — 1,198 Comprehensive loss 1,949 17,733 (16,870) Summarized balance sheet information: Current assets 240,101 116,446 8,901 Non-current assets 413,886 261,662 5,591 Current liabilities 58,577 38,581 3,724 Non-current liabilities 56,646 53,576 23,409 Summarized financial information for the year ended and as of December 31, 2022: (in thousands) Sayona Mining Sayona Quebec Atlantic Lithium Summarized statement of operations information: Revenue $ — $ — $ — Net loss from operations (19,274) (9,996) (39,801) Other comprehensive income (loss), net of tax 10,424 179 (32) Comprehensive loss (8,850) (9,817) (39,833) Summarized balance sheet information: Current assets 122,253 24,869 19,394 Non-current assets 237,656 147,954 1,074 Current liabilities 5,299 3,195 3,896 Non-current liabilities 57,987 88,184 15,613 Summarized financial information for the six months ended and as of December 31, 2021: (in thousands) Sayona Mining Sayona Quebec Atlantic Lithium Summarized statement of operations information: Revenue $ — $ — $ — Net loss from operations (2,692) (252) (540) Other comprehensive income (loss), net of tax 844 — (21) Comprehensive loss (1,848) (252) (561) Summarized balance sheet information: Current assets 18,302 712 24,332 Non-current assets 99,753 97,957 43,442 Current liabilities 2,071 917 3,354 Non-current liabilities 23 — — Summarized financial information for the year ended and as of June 30, 2021: (in thousands) Sayona Mining Summarized statement of operations information: Revenue $ — Net loss from operations (325) Other comprehensive income (loss), net of tax (157) Comprehensive loss (482) Summarized balance sheet information: Current assets 9,711 Non-current assets 17,719 Current liabilities 4,746 Non-current liabilities 24

OTHER ASSETS AND LIABILITIES (T

OTHER ASSETS AND LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Current Assets	Other current assets consisted of the following: (in thousands) December 31, December 31, Prepaid and other current assets $ 3,345 $ 2,128 Investments in equity securities 484 484 Total other current assets $ 3,829 $ 2,612
Schedule of Other Non-current Assets	Other non-current assets consisted of the following: (in thousands) December 31, December 31, Advances to affiliates $ 28,189 $ 17,316 Operating lease right-of-use assets (Note 12) 1,371 1,293 Asset retirement obligation, net 1 (Note 15) 414 — Other non-current assets 379 264 Total other non-current assets $ 30,353 $ 18,873 __________________________ (1)
Schedule of Other Current Liabilities	Other current liabilities consisted of the following: (in thousands) December 31, December 31, Accrued provisional revenue adjustment $ 29,151 $ — Operating lease liabilities (Note 12) 312 124 Total other current liabilities $ 29,463 $ 124
Schedule of Other Noncurrent Liabilities	Other non-current liabilities consisted of the following: (in thousands) December 31, December 31, Asset retirement obligation liability (Note 15) $ 431 $ — Total other non-current liabilities $ 431 $ —

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Schedule of Long-term Debt Agreements	The outstanding balances of our long-term debt agreements were as follows: (in thousands) December 31, December 31, Current portion of long-term debt $ 149 $ 425 Long-term debt, net of current portion 14 163 Total long-term debt $ 163 $ 588 We paid interest on our long-term debt as follows: Years Ended Six Months Ended Year Ended (in thousands) 2023 2022 Interest paid $ 39 $ 115 $ 113 $ 271
Schedule of Maturities of Long-term Debt	Scheduled payments for the principal portion of our outstanding long-term debt are as follows: (in thousands) December 31, 2024 $ 149 2025 14 2026 — 2027 — Total $ 163

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Schedule of 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: (in thousands) December 31, December 31, Assets: Right-of-use assets - operating lease $ 1,371 $ 1,293 Liabilities: Current 312 124 Non-current 1,091 1,177 Operating lease liabilities $ 1,403 $ 1,301 Years Ended Six Months Ended Year Ended (in thousands) 2023 2022 Statements of operations: Operating lease cost $ 389 $ 153 $ 84 $ 165 Short-term lease cost 168 106 67 79 Sublease income — 51 62 121 Other information: Right-of-use assets obtained in exchange for new operating lease liabilities $ 323 $ 1,339 $ — $ 15 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 365 $ 143 $ 86 $ 166 Weighted-average remaining lease term (in months) 60 80 3 11 Weighted-average discount rate 10% 10% 10% 10%
Schedule of 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: (in thousands) December 31, December 31, Assets: Right-of-use assets - operating lease $ 1,371 $ 1,293 Liabilities: Current 312 124 Non-current 1,091 1,177 Operating lease liabilities $ 1,403 $ 1,301 Years Ended Six Months Ended Year Ended (in thousands) 2023 2022 Statements of operations: Operating lease cost $ 389 $ 153 $ 84 $ 165 Short-term lease cost 168 106 67 79 Sublease income — 51 62 121 Other information: Right-of-use assets obtained in exchange for new operating lease liabilities $ 323 $ 1,339 $ — $ 15 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 365 $ 143 $ 86 $ 166 Weighted-average remaining lease term (in months) 60 80 3 11 Weighted-average discount rate 10% 10% 10% 10%
Schedule of Maturities of Lease Payments under Non-cancellable Leases	Maturities of lease payments under non-cancellable leases are as follows: (in thousands) December 31, 2023 2024 $ 439 2025 325 2026 272 2027 280 2028 289 Thereafter 196 Total future minimum lease payments 1,801 Interest included within lease payments (398) Total operating lease liabilities $ 1,403

DESCRIPTION OF COMPANY (Details

DESCRIPTION OF COMPANY (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated deficits	$ 126,844	$ 105,658

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Revenue Recognition (Details)	12 Months Ended
	Dec. 31, 2023
Minimum
Disaggregation of Revenue [Line Items]
Revenue, initial pricing billing period	5 days
Revenue, payment terms	15 days
Maximum
Disaggregation of Revenue [Line Items]
Revenue, initial pricing billing period	30 days
Revenue, payment terms	75 days

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Long-term debt	$ 163	$ 588
Investments in equity securities	$ 484	$ 484

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Equity Method Investments (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Schedule of Equity Method Investments [Line Items]
Impairment of equity method investment	$ (2,242)
Sayona Mining
Schedule of Equity Method Investments [Line Items]
Impairment of equity method investment	$ (2,242)

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Long-Lived Assets (Details) - USD ($)	6 Months Ended	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2021
Accounting Policies [Abstract]
Impairment of long-lived assets	$ 0	$ 0	$ 0	$ 0

REVENUE - Additional Informatio

REVENUE - Additional Information (Details) - USD ($)	6 Months Ended	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2021
Disaggregation of Revenue [Line Items]
Reserve for uncollectible accounts		$ 0
Contract assets		0
Contract liabilities		0
Revenue	$ 0	$ 39,817,000	$ 0	$ 0
Three Largest Customers | Revenue from Contract with Customer Benchmark | Customer Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk, percentage		100%
Minimum
Disaggregation of Revenue [Line Items]
Revenue, initial pricing billing period		5 days
Revenue, payment terms		15 days
Maximum
Disaggregation of Revenue [Line Items]
Revenue, initial pricing billing period		30 days
Revenue, payment terms		75 days

REVENUE - Disaggregation of Rev

REVENUE - Disaggregation of Revenue (Details) - USD ($)	6 Months Ended	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Spodumene concentrate sales		$ 54,898,000
Provisional revenue adjustments		(15,081,000)
Revenue	$ 0	$ 39,817,000	$ 0	$ 0

STOCK-BASED COMPENSATION - Addi

STOCK-BASED COMPENSATION - Additional Information (Details) $ in Millions	6 Months Ended	12 Months Ended
	Dec. 31, 2021 shares	Dec. 31, 2023 USD ($) shares	Dec. 31, 2022 shares	Jun. 30, 2021 shares	Jun. 30, 2020 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards cost not yet recognized, amount | $		$ 7.5
Granted (in shares)	0	72,000	195,000	135,000
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)		6 years 2 months 12 days	5 years 3 months 18 days	5 years 3 months 18 days
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)		6 years 4 months 24 days	6 years 4 months 24 days	6 years 3 months 18 days
Milestone PRAs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested awards expiring over the next three years (in shares)		22,000
TSR PRAs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested awards expiring over the next three years (in shares)		64,000
Assumption of TSR Goal achievement, percent		100%
TSR PRAs | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage of target amount		0%
Expected term (in years)		1 year
TSR PRAs | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage of target amount		200%
Expected term (in years)		3 years
Performance Rights Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested awards expiring over the next three years (in shares)	30,000	86,000	44,000	60,000	50,000
Award conversion ratio		1
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)		2,188,648

STOCK-BASED COMPENSATION - Comp

STOCK-BASED COMPENSATION - Compensation Expense (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2021
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	$ 2,003	$ 9,770	$ 4,631	$ 1,319
Stock-based compensation forfeitures	0	(21)	(859)	0
Stock-based compensation, net of forfeitures	2,003	9,749	3,772	1,319
Stock-based compensation expense, net of forfeitures	2,003	9,516	3,490	1,319
Capitalized stock-based compensation	0	233	282	0
Stock-based compensation, net of forfeitures	2,003	9,749	3,772	1,319
Exploration costs
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense, net of forfeitures	688	154	161	495
Selling, general and administrative expenses
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense, net of forfeitures	$ 1,315	$ 9,362	$ 3,329	$ 824

STOCK-BASED COMPENSATION - Assu

STOCK-BASED COMPENSATION - Assumptions to Estimate Fair Value of Options and Non-Options (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate, minimum	3.90%	1.10%	0.90%
Risk-free interest rate, maximum	4.20%	3.40%	1.20%
Assumed volatility	40%	50%	50%
Expected dividend rate	0%	0%	0%
TSR PRAs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	4.90%
Assumed volatility	60%
Expected dividend rate	0%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life of options (in years)	6 years 2 months 12 days	5 years 3 months 18 days	5 years 3 months 18 days
Minimum | TSR PRAs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life of options (in years)	1 year
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 4 months 24 days	6 years 3 months 18 days
Maximum | TSR PRAs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life of options (in years)	3 years

STOCK-BASED COMPENSATION - Sche

STOCK-BASED COMPENSATION - Schedule of Share-based Awards Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2021	Jun. 30, 2020
Stock Option Awards
Outstanding at beginning of period (in shares)	393,000	265,000	273,000	536,000
Granted (in shares)	0	72,000	195,000	135,000
Exercised or surrendered (in shares)	(120,000)	(2,000)	(183,000)	(15,000)
Forfeited (in shares)	0	0	(20,000)
Expired/Vested (in shares)	0	(40,000)	0	(263,000)
Outstanding at end of period (in shares)	273,000	295,000	265,000	393,000
Vested (in shares)		76,000
Weighted- Average Exercise Price (per share)
Outstanding at beginning of period (in dollars per share)	$ 24.34	$ 58.99	$ 52.23	$ 21.16	$ 16.88
Granted (in dollars per share)	0	67.50	55	35.14
Exercised or surrendered (in dollars per share)	13.93	30.94	14.92	12.38
Forfeited (in dollars per share)	0	0	38.74
Expired/Vested (in dollars per share)	$ 0	30.94	$ 65	$ 15.97
Vested (in dollars per share)		$ 58.65
Weighted- Average Grant-Date Fair Value (per share)
Outstanding weighted average remaining contractual term (in years)		6 years
Vested weighted average remaining contractual term (in years)		8 years
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)	37,000	36,000	51,000	0
Granted (in shares)	14,000	71,000	29,000	37,000
Exercised or surrendered (in shares)	0	(25,000)	(26,000)	0
Forfeited (in shares)	0	(2,000)	(18,000)
Expired/Vested (in shares)	0	0	0	0
Unvested at end of period (in shares)	51,000	80,000	36,000	37,000
Weighted- Average Grant-Date Fair Value (per share)
Unvested at beginning of period (in dollars per share)	$ 64.08	$ 57.12	$ 59.17	$ 0
Granted (in dollars per share)	59.17	60.94	54.24	64.08
Exercised or surrendered (in dollars per share)	0	58.65	58.33	0
Forfeited (in dollars per share)	0	51.81	66.77
Expired/Vested (in dollars per share)	0	0	0	0
Unvested at end of period (in dollars per share)	$ 59.17	$ 60.07	$ 57.12	$ 64.08
Performance Rights Awards
Restricted Stock Units & Performance Rights Awards
Unvested at beginning of period (in shares)	60,000	44,000	30,000	50,000
Granted (in shares)	0	69,000	49,000	10,000
Exercised or surrendered (in shares)	0	(22,000)	0	0
Forfeited (in shares)	(5,000)	(5,000)	(35,000)
Expired/Vested (in shares)	(25,000)	0	0	0
Unvested at end of period (in shares)	30,000	86,000	44,000	60,000
Weighted- Average Grant-Date Fair Value (per share)
Unvested at beginning of period (in dollars per share)	$ 5.42	$ 54.27	$ 5.42	$ 5.20
Granted (in dollars per share)	6.50	100.57	54.13	6.50
Exercised or surrendered (in dollars per share)	0	54.27	0	0
Forfeited (in dollars per share)	6.50	62.56	12.20
Expired/Vested (in dollars per share)	5.20	0	0	0
Unvested at end of period (in dollars per share)	$ 5.42	$ 90.80	$ 54.27	$ 5.42

EMPLOYEE BENEFIT PLAN (Details)

EMPLOYEE BENEFIT PLAN (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2021
Retirement Benefits [Abstract]
Defined contribution plan, maximum annual contributions per employee, percent		100%
401(k) matching contribution expenses	$ 78	$ 262	$ 236	$ 147

EARNINGS PER SHARE - Schedule o

EARNINGS PER SHARE - Schedule of Basic and Diluted Loss per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	6 Months Ended	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2021
Earnings Per Share [Abstract]
Net loss, basic	$ (21,348)	$ (21,777)	$ (12,975)	$ (19,994)
Net loss, diluted	$ (21,348)	$ (21,777)	$ (12,975)	$ (19,994)
Weighted-average number of common shares used in calculating basic earnings per share (in shares)	15,869	19,033	17,518	13,551
Weighted-average number of common shares used in calculating diluted earnings per share (in shares)	15,869	19,033	17,518	13,551
Basic net loss per weighted-average share (in dollars per share)	$ (1.35)	$ (1.14)	$ (0.74)	$ (1.48)
Diluted net loss per weighted-average share (in dollars per share)	$ (1.35)	$ (1.14)	$ (0.74)	$ (1.48)

EARNINGS PER SHARE - Schedule_2

EARNINGS PER SHARE - Schedule of Antidilutive Securities Excluded from Calculation of Diluted Net Loss Per Share (Details) - shares shares in Thousands	6 Months Ended	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common shares considered anti-dilutive (in shares)	354	461	345	490
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common shares considered anti-dilutive (in shares)	273	295	265	393
RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common shares considered anti-dilutive (in shares)	51	80	36	37
PRAs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common shares considered anti-dilutive (in shares)	30	86	44	60

INCOME TAXES - Schedule of Comp

INCOME TAXES - Schedule of Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Domestic	$ (20,657)	$ (30,116)	$ (31,651)	$ (17,601)
Foreign	(691)	11,445	21,815	(2,393)
Loss before taxes	$ (21,348)	$ (18,671)	$ (9,836)	$ (19,994)

INCOME TAXES - Schedule of Effe

INCOME TAXES - Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income before taxes	$ (21,348)	$ (18,671)	$ (9,836)	$ (19,994)
Benefit at statutory rate (21%)	(4,483)	(3,921)	(2,065)	(4,199)
Foreign rate differential	(62)	766	1,963	(22)
Non-deductible transaction costs	0	0	0	300
U.S. inclusion of foreign earnings	0	265	0	0
Executive compensation	143	1,022	421	0
Research and development tax credit	0	(391)	0	0
Permanent items	(246)	298	(583)	141
Foreign exchange differences	17	0	(840)	0
Branch deferred taxes	0	960	4,003	0
State taxes	509	1,749	511	(986)
Other adjustments	290	0	0	0
Change in valuation allowance	3,832	2,358	(271)	4,766
Income tax expense	$ 0	$ 3,106	$ 3,139	$ 0

INCOME TAXES - Schedule of Defe

INCOME TAXES - Schedule of Deferred Income Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deferred tax assets
Accrued expenditures	$ 773	$ 887
Exploration expenditures	363	168
Stock-based compensation	1,593	895
Tax carryforwards	26,693	21,851
Other deferred tax assets	1,556	1,432
Gross deferred tax assets	30,978	25,233
Valuation allowance	(19,791)	(17,751)
Deferred tax assets, net of valuation allowance	11,187	7,482
Deferred tax liabilities
Equity method investments	(16,164)	(9,440)
Other deferred tax liabilities	(1,046)	(923)
Deferred tax liabilities	(17,210)	(10,363)
Net deferred tax liability	$ (6,023)	$ (2,881)

INCOME TAXES - Additional Infor

INCOME TAXES - Additional Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Income Tax Disclosure [Abstract]
Increase of deferred tax liabilities	$ 3,100
Increase of reserve for uncertain income tax positions	$ 98

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 ($) $ in Thousands	6 Months Ended	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2021
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Beginning balance	$ 13,355	$ 17,751	$ 17,187	$ 8,589
Charged to other accounts	0	(317)	835	0
Charged to income tax expense	3,832	2,357	(271)	4,766
Ending balance	$ 17,187	$ 19,791	$ 17,751	$ 13,355

INCOME TAXES - Schedule of Net

INCOME TAXES - Schedule of Net Operating Losses (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Income Tax Contingency [Line Items]
Operating loss carryforwards	$ 19,015	$ 14,295
U.S. - Federal
Income Tax Contingency [Line Items]
Operating loss carryforwards	14,833	9,597
U.S. - State
Income Tax Contingency [Line Items]
Operating loss carryforwards	0	743
Australia - Federal | Australian Taxation Office
Income Tax Contingency [Line Items]
Operating loss carryforwards	3,923	3,697
Australia - Capital | Australian Taxation Office
Income Tax Contingency [Line Items]
Operating loss carryforwards	$ 259	$ 258

INCOME TAXES - Unrecognized Tax

INCOME TAXES - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized tax benefits, beginning balance	$ 0	$ 0	$ 0	$ 0
Additions for tax positions related to prior years	0	(60)	0	0
Additions for tax positions related to current year	0	(38)	0	0
Unrecognized tax benefits, ending balance	$ 0	$ (98)	$ 0	$ 0

PROPERTY, PLANT AND MINE DEVE_3

PROPERTY, PLANT AND MINE DEVELOPMENT (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Property, plant and mine development	$ 127,413	$ 71,626
Accumulated depreciation	(327)	(85)
Property, plant and mine development, net	127,086	71,541
Mining interests
Property, Plant and Equipment [Line Items]
Property, plant and mine development	81,481	56,120
Mine development
Property, Plant and Equipment [Line Items]
Property, plant and mine development	6,255	3,050
Land
Property, Plant and Equipment [Line Items]
Property, plant and mine development	3,259	720
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and mine development	401	281
Facilities and equipment
Property, Plant and Equipment [Line Items]
Property, plant and mine development	916	675
Construction in process
Property, Plant and Equipment [Line Items]
Property, plant and mine development	$ 35,101	$ 10,780

PROPERTY, PLANT AND MINE DEVE_4

PROPERTY, PLANT AND MINE DEVELOPMENT - Schedule of Depreciation Expenses (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2021
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 9	$ 272	$ 74	$ 12
Selling, general and administrative expenses
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 9	$ 241	$ 74	$ 12

EQUITY METHOD INVESTMENTS - Sum

EQUITY METHOD INVESTMENTS - Summary of Changes in Equity Method Investments (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2021
Increase (Decrease) in Equity Method Investment [Roll Forward]
Equity method investments, beginning balance	$ 16,263	$ 95,648	$ 58,873
Investments	43,604	33,239	21,062	$ 16,358
Return of capital	(514)
Income (loss) from equity method investments	(642)	2,436	(8,352)
Foreign currency translation adjustment of equity method investments	162	1,606	(4,890)
Gain (loss) on dilution of equity method investments	0	16,975	28,955	0
Impairment of equity method investment		(2,242)
Equity method investments, ending balance	58,873	147,662	95,648	16,263
Sayona Mining
Increase (Decrease) in Equity Method Investment [Roll Forward]
Equity method investments, beginning balance	11,195	44,620	18,256
Investments	7,423	552	1,445
Income (loss) from equity method investments	(526)	(304)	(3,104)
Foreign currency translation adjustment of equity method investments	164	18	(1,379)
Gain (loss) on dilution of equity method investments		16,850	29,402
Impairment of equity method investment		(2,242)
Equity method investments, ending balance	18,256	59,494	44,620	11,195
Transaction costs	200
Fair value of equity investments		46,300
Sayona Quebec
Increase (Decrease) in Equity Method Investment [Roll Forward]
Equity method investments, beginning balance	5,068	39,763	25,217
Investments	20,211	30,900	19,617
Income (loss) from equity method investments	(62)	4,433	(2,500)
Foreign currency translation adjustment of equity method investments		1,456	(2,571)
Equity method investments, ending balance	25,217	76,552	39,763	5,068
Transaction costs	200
Sayona Mining and Sayona Quebec
Increase (Decrease) in Equity Method Investment [Roll Forward]
Investments	27,634		21,062
Atlantic Lithium
Increase (Decrease) in Equity Method Investment [Roll Forward]
Equity method investments, beginning balance	0	11,265	15,400
Investments	15,970	41
Return of capital	(514)
Income (loss) from equity method investments	(54)	(1,693)	(2,748)
Foreign currency translation adjustment of equity method investments	(2)	87	(940)
Gain (loss) on dilution of equity method investments		125	(447)
Equity method investments, ending balance	15,400	9,825	11,265	0
Transaction costs	100
Vinland Lithium
Increase (Decrease) in Equity Method Investment [Roll Forward]
Equity method investments, beginning balance	0	0	0
Investments		1,746
Foreign currency translation adjustment of equity method investments		45
Equity method investments, ending balance	$ 0	1,791	$ 0	$ 0
Transaction costs		300
Sayona Mining, Sayona Quebec and Atlantic Lithium
Increase (Decrease) in Equity Method Investment [Roll Forward]
Investments		$ 31,493

EQUITY METHOD INVESTMENTS - Add

EQUITY METHOD INVESTMENTS - Additional Information (Details) $ in Thousands	6 Months Ended	12 Months Ended
	Dec. 31, 2021 USD ($)	Dec. 31, 2023 USD ($) $ / t $ / Tonne t	Dec. 31, 2022 USD ($)	Jun. 30, 2021 USD ($)
Schedule of Equity Method Investments [Line Items]
Gain on dilution of equity method investments	$ 0	$ 16,975	$ 28,955	$ 0
Impairment of equity method investment		(2,242)
Revenue	$ 0	$ 39,817	0	$ 0
Sayona Quebec
Schedule of Equity Method Investments [Line Items]
Long-term supply agreement, spodumene concentrate production | t		113,000
Long-term supply agreement, spodumene concentrate production, percentage		50%
Long-term supply agreement, floor price (in dollars per Tonne) | $ / t		500
Long-term supply agreement, ceiling price (in dollars per Tonne) | $ / t		900
Long-term supply agreement, spodumene concentrate percentage		6%
Atlantic Lithium
Schedule of Equity Method Investments [Line Items]
Long-term supply agreement, percentage of spodumene concentrate produced for sale		50%
Sayona Quebec | NAL
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		12%
Gain on dilution of equity method investments		$ 16,850	29,402
Impairment of equity method investment		$ (2,242)
Sayona Quebec
Schedule of Equity Method Investments [Line Items]
Equity interest, ownership percentage		25%
Sayona Quebec | NAL
Schedule of Equity Method Investments [Line Items]
Long-term supply agreement, quantities produced (in dmt) | t		98,800
Long-term supply agreement, quantities shipped (in dmt) | t		72,100
Long-term supply agreement, quantities sold (in dmt) | t		43,200
Long-term supply agreement, realized sales price (in dollars per Tonne) | $ / Tonne		920
Long-term supply agreement, realized cost of sales (in dollars per Tonne) | $ / Tonne		789
Long-term supply agreement, gross profit margin, percentage		14.30%
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		$ 125	$ (447)
Equity method investment, maximum ownership percentage through phased investments		50%
Vinland Lithium
Schedule of Equity Method Investments [Line Items]
Equity interest, ownership percentage		20%
Killick Lithium
Schedule of Equity Method Investments [Line Items]
Equity method investment, maximum ownership percentage through phased investments		62.50%

EQUITY METHOD INVESTMENTS - S_2

EQUITY METHOD INVESTMENTS - Summarized Financial Information (Details) - USD ($)	6 Months Ended	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2021
Summarized statement of operations information:
Revenue	$ 0	$ 39,817,000	$ 0	$ 0
Gross profit	0	5,679,000	0	0
Net loss from operations	(21,227,000)	(39,375,000)	(39,740,000)	(19,801,000)
Other comprehensive income (loss), net of tax	162,000	1,570,000	(4,631,000)	(31,000)
Comprehensive loss	(21,186,000)	(20,207,000)	(17,606,000)	(20,025,000)
Summarized balance sheet information:
Current assets		76,154,000	101,859,000
Current liabilities		41,366,000	13,411,000
Sayona Mining
Summarized statement of operations information:
Revenue	0	43,925,000	0	0
Gross profit		11,912,000
Net loss from operations	(2,692,000)	(456,000)	(19,274,000)	(325,000)
Other comprehensive income (loss), net of tax	844,000	2,405,000	10,424,000	(157,000)
Comprehensive loss	(1,848,000)	1,949,000	(8,850,000)	(482,000)
Summarized balance sheet information:
Current assets	18,302,000	240,101,000	122,253,000	9,711,000
Non-current assets	99,753,000	413,886,000	237,656,000	17,719,000
Current liabilities	2,071,000	58,577,000	5,299,000	4,746,000
Non-current liabilities	23,000	56,646,000	57,987,000	$ 24,000
Sayona Quebec
Summarized statement of operations information:
Revenue	0	58,514,000	0
Gross profit		16,580,000
Net loss from operations	(252,000)	17,733,000	(9,996,000)
Other comprehensive income (loss), net of tax	0	0	179,000
Comprehensive loss	(252,000)	17,733,000	(9,817,000)
Summarized balance sheet information:
Current assets	712,000	116,446,000	24,869,000
Non-current assets	97,957,000	261,662,000	147,954,000
Current liabilities	917,000	38,581,000	3,195,000
Non-current liabilities	0	53,576,000	88,184,000
Atlantic Lithium
Summarized statement of operations information:
Revenue	0	0	0
Gross profit		0
Net loss from operations	(540,000)	(18,068,000)	(39,801,000)
Other comprehensive income (loss), net of tax	(21,000)	1,198,000	(32,000)
Comprehensive loss	(561,000)	(16,870,000)	(39,833,000)
Summarized balance sheet information:
Current assets	24,332,000	8,901,000	19,394,000
Non-current assets	43,442,000	5,591,000	1,074,000
Current liabilities	3,354,000	3,724,000	3,896,000
Non-current liabilities	$ 0	$ 23,409,000	$ 15,613,000

OTHER ASSETS AND LIABILITIES -

OTHER ASSETS AND LIABILITIES - Schedule of Other Current Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid and other current assets	$ 3,345	$ 2,128
Investments in equity securities	484	484
Total other current assets	$ 3,829	$ 2,612

OTHER ASSETS AND LIABILITIES _2

OTHER ASSETS AND LIABILITIES - Schedule of Other Non-current Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Advances to affiliates	$ 28,189	$ 17,316
Operating lease right-of-use assets (Note 12)	1,371	1,293
Asset retirement obligation, net (Note 15)	414	0
Other non-current assets	379	264
Total other non-current assets	30,353	18,873
Asset retirement obligation, accumulated amortization	$ 7	$ 0

OTHER ASSETS AND LIABILITIES _3

OTHER ASSETS AND LIABILITIES - Additional Information (Details)	6 Months Ended	12 Months Ended
	Dec. 31, 2021 USD ($)	Dec. 31, 2023 USD ($) phase	Dec. 31, 2022 USD ($)	Jun. 30, 2021 USD ($)
Schedule of Equity Method Investments [Line Items]
Equity method investments	$ 58,873,000	$ 147,662,000	$ 95,648,000	$ 16,263,000
Equity method investments, advance payments	43,604,000	$ 33,239,000	21,062,000	$ 16,358,000
Killick Lithium
Schedule of Equity Method Investments [Line Items]
Equity method investment, maximum ownership percentage through phased investments		62.50%
Equity method investments, advance payments		$ 1,800,000
Ghana Project
Schedule of Equity Method Investments [Line Items]
Strategic partnership investments, percentage expected		50%
Strategic partnership investments, number of phases | phase		2
Equity method investments		$ 0
Ghana Project, Phase One
Schedule of Equity Method Investments [Line Items]
Strategic partnership investments, percentage expected		22.50%
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
Ewoyaa Project
Schedule of Equity Method Investments [Line Items]
Strategic partnership investments, percentage expected		81%
Equity interest, ownership percentage		40.50%
Equity method investments, advance payments	$ 4,300,000	$ 9,400,000	$ 12,700,000

OTHER ASSETS AND LIABILITIES _4

OTHER ASSETS AND LIABILITIES - Schedule of Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Accrued provisional revenue adjustment	$ 29,151	$ 0
Operating lease liabilities (Note 12)	312	124
Total other current liabilities	$ 29,463	$ 124

OTHER ASSETS AND LIABILITIES _5

OTHER ASSETS AND LIABILITIES - Schedule of Other Non-Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Asset retirement obligation liability (Note 15)	$ 431	$ 0
Total other non-current liabilities	$ 431	$ 0

LONG-TERM DEBT - Additional Inf

LONG-TERM DEBT - Additional Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Debt Instrument [Line Items]
Debt stated interest rate	10%
Minimum
Debt Instrument [Line Items]
Monthly installment payment	$ 2
Debt agreement term	2 years
Maximum
Debt Instrument [Line Items]
Monthly installment payment	$ 10
Debt agreement term	5 years

LONG-TERM DEBT - Schedule of Lo

LONG-TERM DEBT - Schedule of Long-term Debt Agreements (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2021
Debt Disclosure [Abstract]
Current portion of long-term debt		$ 149	$ 425
Long-term debt, net of current portion		14	163
Total long-term debt		163	588
Interest paid	$ 113	$ 39	$ 115	$ 271

LONG-TERM DEBT - Schedule of Ma

LONG-TERM DEBT - Schedule of Maturities of Long-term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Debt Disclosure [Abstract]
2024	$ 149
2025	14
2026	0
2027	0
Total long-term debt	$ 163	$ 588

LEASES - Additional Information

LEASES - Additional Information (Details)	Dec. 31, 2023 option
Lessee, Lease, Description [Line Items]
Operating lease, option to renew	1
Minimum
Lessee, Lease, Description [Line Items]
Renewal term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Renewal term	6 years

LEASES - Components of Lease Co

LEASES - Components of Lease Costs and Other Lease Information (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2021
Assets:
Right-of-use assets - operating lease		$ 1,371	$ 1,293
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]		Other non-current assets	Other non-current assets
Liabilities:
Current		$ 312	$ 124
Non-current		1,091	1,177
Operating lease liabilities		$ 1,403	$ 1,301
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]		Other current liabilities	Other current liabilities
Statements of operations:
Operating lease cost	$ 84	$ 389	$ 153	$ 165
Short-term lease cost	67	168	106	79
Sublease income	62	0	51	121
Other information:
Right-of-use assets obtained in exchange for new operating lease liabilities	0	323	1,339	15
Operating cash flows from operating leases	$ 86	$ 365	$ 143	$ 166
Weighted-average remaining lease term (in months)	3 months	60 months	80 months	11 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 ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
2024	$ 439
2025	325
2026	272
2027	280
2028	289
Thereafter	196
Total future minimum lease payments	1,801
Interest included within lease payments	(398)
Operating lease liabilities	$ 1,403	$ 1,301

EQUITY (Details)

EQUITY (Details)

1 Months Ended

12 Months Ended

Nov. 30, 2023 USD ($) $ / shares shares

Feb. 28, 2023 USD ($) $ / shares shares

Mar. 31, 2022 USD ($) $ / shares shares

Mar. 31, 2021 shares

Oct. 31, 2020 USD ($) $ / shares

Aug. 31, 2020 USD ($)

Dec. 31, 2023 USD ($) $ / shares shares

Dec. 31, 2022 USD ($) $ / shares shares

Jun. 30, 2021 USD ($)

Sep. 24, 2021 USD ($)

May 17, 2021 shares

May 16, 2021 shares

Aug. 31, 2020 $ / shares

Class of Stock [Line Items]

Common stock, shares outstanding (in shares) | shares

19,272,000

18,073,000

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

Stock issuance costs

$ 12,800,000

Sale of stock, offering capacity

$ 500,000,000

Issuance of common stock, net

$ 72,921,000

$ 122,059,000

$ 174,965,000

Shares issued, price per share (in USD per share) | $ / shares

$ 70

Issuance of common stock, net (in shares) | shares

1,750,000

Advance Of Funding Obligations To Killick Lithium Project

Class of Stock [Line Items]

Number of shares sold (in shares) | shares

62,638

Sale of stock, price (in dollars per share) | $ / shares

$ 29.32

Stock issuance costs

$ 0

Shelf Registration Program

Class of Stock [Line Items]

Number of shares sold (in shares) | shares

2,012,500

Sale of stock, price (in dollars per share) | $ / shares

$ 65

Proceeds from sale of stock

$ 130,800,000

Sale of stock, offering capacity

500,000,000

Remaining offering capacity

$ 369,200,000

U.S. Public Offering Program

Class of Stock [Line Items]

Stock issuance costs

$ 8,800,000

Australia Share Placements And US Public Offerings

Class of Stock [Line Items]

Issuance of common stock, net

$ 2,300,000

$ 1,200,000

Shares issued, price per share (in USD per share) | (per share)

$ 25

$ 9

Vinland Lithium | Advance Of Funding Obligations To Killick Lithium Project

Class of Stock [Line Items]

Sale of stock, percentage of ownership after transaction

62.50%

LG Chem

Class of Stock [Line Items]

Number of shares sold (in shares) | shares

1,096,535

Sale of stock, price (in dollars per share) | $ / shares

$ 68.40

Stock issuance costs

$ 3,900,000

Proceeds from sale of stock

$ 75,000,000

Piedmont Lithium

Class of Stock [Line Items]

ADS conversion ratio

100

Piedmont Australia

Class of Stock [Line Items]

Redomicilation, number of CDI to receive per ordinary share | shares

1

Redomicilation, number of common stock to receive per ADS | shares

1

SEGMENT REPORTING (Details)

SEGMENT REPORTING (Details)	12 Months Ended
	Dec. 31, 2023 segment
Segment Reporting [Abstract]
Number of Reportable Segments	1

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Additional Information (Details) $ in Millions	1 Months Ended
	Oct. 31, 2023 USD ($)	Jul. 31, 2023 USD ($)	May 31, 2023 USD ($)	Dec. 31, 2023 USD ($)	Sep. 08, 2023 action
Commitments and Contingencies Disclosure [Abstract]
Number of actions consolidated | action					2
Asset retirement obligation				$ 0.4
Other commitment			$ 11
Community development agreement, amount to support parks and recreation projects			1
Community development agreement, parks and recreation projects, payment amount	$ 0.5	$ 0.5
Community development agreement, amount to be paid in annual installments			10
Community development agreement, annual payment			$ 0.5
Community development agreement, amount paid in annual installments, period			20 years

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) $ / shares in Units, $ in Thousands	1 Months Ended	2 Months Ended
	Feb. 27, 2024 USD ($) $ / shares	Feb. 27, 2024 USD ($) $ / shares shares	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Jun. 30, 2021 USD ($)
Subsequent Event [Line Items]
Equity method investments			$ 147,662	$ 95,648	$ 58,873	$ 16,263
Atlantic Lithium
Subsequent Event [Line Items]
Equity interest, ownership percentage			9%
Equity method investments			$ 9,825	11,265	15,400	0
Sayona Mining
Subsequent Event [Line Items]
Equity interest, ownership percentage			12%
Equity method investments			$ 59,494	$ 44,620	$ 18,256	$ 11,195
Subsequent Event | 2024 Cost-Savings Plan
Subsequent Event [Line Items]
Restructuring and related cost, expected annual cash savings	$ 10,000
Restructuring and related cost, number of positions eliminated, percent		27%
Subsequent Event | 2024 Cost-Savings Plan | Employee Severance
Subsequent Event [Line Items]
Restructuring and related cost, expected cost	$ 1,000	$ 1,000
Subsequent Event | Atlantic Lithium
Subsequent Event [Line Items]
Number of shares sold (in shares) | shares		24,500,000
Sale of stock, price (in dollars per share) | $ / shares	$ 0.32	$ 0.32
Sale of stock, percentage of total outstanding shares sold	0.04	0.04
Sale of stock, consideration received		$ 7,800
Sale of stock, number of shares retain (in shares) | shares		32,500,000
Equity interest, ownership percentage	5%	5%
Subsequent Event | Sayona Mining
Subsequent Event [Line Items]
Number of shares sold (in shares) | shares		1,249,800,000
Sale of stock, price (in dollars per share) | $ / shares	$ 0.03	$ 0.03
Sale of stock, percentage of total outstanding shares sold	0.12	0.12
Sale of stock, consideration received		$ 41,400
Equity method investment, estimated capital cost	$ 20,900	20,900
Equity method investments	$ 59,500	59,500
Investment company, non-cash accumulated gain (loss)		46,300
Subsequent Event | Sayona Mining | Minimum
Subsequent Event [Line Items]
Loss on partial sale of equity method investment		12,000
Subsequent Event | Sayona Mining | Maximum
Subsequent Event [Line Items]
Loss on partial sale of equity method investment		$ 16,000