Piedmont Lithium (PLL) 10-Q 9 Aug 24 2024 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2024	Aug. 05, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
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 Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		19,371,416
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001728205
Current Fiscal Year End Date	--12-31

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Revenue		$ 13,227	$ 0	$ 26,628	$ 0
Costs of sales		12,601	0	25,311	0
Gross profit		626	0	1,317	0
Exploration costs		9	440	62	1,197
Selling, general and administrative expenses		9,330	11,987	19,204	20,608
Total operating expenses		9,339	12,427	19,266	21,805
Loss from equity method investments		(4,910)	(2,675)	(10,350)	(5,417)
Loss from operations		(13,623)	(15,102)	(28,299)	(27,222)
Interest income		653	1,165	1,480	1,928
Interest expense		(76)	(11)	(298)	(26)
Gain (loss) on sale of equity method investments	[1]	0	3,975	(13,886)	7,250
Other (loss) gain		(288)	(17)	965	(66)
Total other income (loss)		289	5,112	(11,739)	9,086
Loss before taxes		(13,334)	(9,990)	(40,038)	(18,136)
Income tax (benefit) expense		(2)	649	(3,095)	1,142
Net loss		$ (13,332)	$ (10,639)	$ (36,943)	$ (19,278)
Earnings per share:
Basic net loss per weighted-average share (in dollars per share)		$ (0.69)	$ (0.55)	$ (1.91)	$ (1.02)
Diluted net loss per weighted-average share (in dollars per share)		$ (0.69)	$ (0.55)	$ (1.91)	$ (1.02)
Weighted-average shares outstanding
Basic weighted-average shares outstanding (in shares)		19,370	19,187	19,348	18,857
Diluted weighted-average shares outstanding (in shares)		19,370	19,187	19,348	18,857
[1] Gain (loss) on sale of equity method investments includes a loss on the sale of shares in Sayona Mining of $17,215, partially offset by a gain on the sale of shares in Atlantic Lithium of $3,143 and a gain on dilution related to the issuance of additional shares of Atlantic Lithium of $186 for the six months ended June 30, 2024. There was no gain (loss) on sale of equity method investments for the three months ended June 30, 2024. For the three and six months ended June 30, 2023, we recognized a gain of $3,975 and $7,250 , respectively, related to the dilution of our ownership interest with the issuance of additional shares of Sayona Mining. See Note 7

CONSOLIDATED STATEMENTS OF OP_2

CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Gain (loss) on sale of shares of equity method investments (4)			$ (14,072)
Gain on dilution of equity method investments			186	$ 7,250
Sayona Mining
Gain (loss) on sale of shares of equity method investments (4)	$ (17,215)		(17,215)
Gain on dilution of equity method investments		$ 3,975	0	7,250
Atlantic Lithium
Gain (loss) on sale of shares of equity method investments (4)			3,143
Gain on dilution of equity method investments		$ 0	$ 186	$ 0

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net loss		$ (13,332)	$ (10,639)	$ (36,943)	$ (19,278)
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment of equity method investments	[1]	(758)	1,121	(671)	(1,092)
Other comprehensive income (loss), net of tax		(758)	1,121	(671)	(1,092)
Comprehensive loss		$ (14,090)	$ (9,518)	$ (37,614)	$ (20,370)
[1] Foreign currency translation adjustment of equity method investments is presented net of tax (expense) benefit of $(223) for the six months ended June 30, 2024 and $(97) and $566 for the three and six months ended June 30, 2023, respectively. There is no tax impact on foreign currency translation adjustment of equity method investments for the three months ended June 30, 2024.

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Parenthetical) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustment of equity method investments, tax (expense) benefit	$ 0	$ (97,000)	$ (223,000)	$ 566,000

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Assets
Cash and cash equivalents	$ 58,978	$ 71,730
Accounts receivable	13,320	595
Other current assets	11,395	3,829
Total current assets	83,693	76,154
Property, plant and mine development, net	134,270	127,086
Advances to affiliates	37,093	28,189
Other non-current assets	1,865	2,164
Equity method investments	82,719	147,662
Total assets	339,640	381,255
Liabilities and Stockholders’ Equity
Accounts payable and accrued expenses	5,894	11,580
Current portion of long-term debt	642	149
Deferred revenue	24,347	0
Other current liabilities	5,053	29,463
Total current liabilities	36,017	41,366
Long-term debt, net of current portion	2,067	14
Operating lease liabilities, net of current portion	951	1,091
Other non-current liabilities	980	431
Deferred tax liabilities	0	6,023
Total liabilities	40,015	48,925
Commitments and contingencies (Note 13)
Stockholders’ equity:
Common stock; $0.0001 par value, 100,000 shares authorized; 19,371 and 19,272 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively	2	2
Additional paid-in capital	467,808	462,899
Accumulated deficit	(163,787)	(126,844)
Accumulated other comprehensive loss	(4,398)	(3,727)
Total stockholders’ equity	299,625	332,330
Total liabilities and stockholders’ equity	339,640	381,255
Affiliated Entity
Liabilities and Stockholders’ Equity
Payables to affiliates	$ 81	$ 174

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2024	Dec. 31, 2023
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)	19,371,000	19,272,000
Common stock, shares outstanding (in shares)	19,371,000	19,272,000

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)		3 Months Ended				6 Months Ended		12 Months Ended
		Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Cash flows from operating activities:
Net loss		$ (13,332,000)	$ (23,611,000)	$ (10,639,000)	$ (8,639,000)	$ (36,943,000)	$ (19,278,000)	$ (21,800,000)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation expense						4,640,000	4,311,000
Loss from equity method investments		4,910,000		2,675,000		10,350,000	5,417,000
Loss (gain) on sale of equity method investments	[1]	0		(3,975,000)		13,886,000	(7,250,000)
Gain on equity securities		(210,000)		0		(1,594,000)	0
Deferred taxes						(6,246,000)	1,142,000
Depreciation and amortization						156,000	106,000
Noncash lease expense						532,000	96,000
Loss on sale of assets		656,000		0		656,000	0
Unrealized foreign currency translation (gains) losses						(36,000)	13,000
Changes in assets and liabilities:
Accounts receivable						(12,725,000)	0
Other assets						1,950,000	(2,019,000)
Operating lease liabilities						(472,000)	(80,000)
Accounts payable						(25,000)	(1,072,000)
Payables to affiliates						(93,000)	0
Deferred revenue						24,347,000	0
Accrued expenses and other liabilities						(27,164,000)	(1,072,000)
Net cash used in operating activities						(28,781,000)	(19,686,000)
Cash flows from investing activities:
Capital expenditures						(8,622,000)	(28,696,000)
Advances to affiliates						(8,226,000)	(4,742,000)
Proceeds from sale of marketable securities						45,000	0
Proceeds from sale of shares in equity method investments						49,103,000	0
Additions to equity method investments		(4,918,000)		(16,126,000)		(14,966,000)	(28,218,000)
Net cash provided by (used in) investing activities						17,334,000	(61,656,000)
Cash flows from financing activities:
Proceeds from issuances of common stock, net of issuance costs						0	71,084,000
Payments of long-term debt and insurance premiums financed						(651,000)	(239,000)
Payments to tax authorities for employee stock-based compensation						(654,000)	0
Net cash (used in) provided by financing activities						(1,305,000)	70,845,000
Net decrease in cash						(12,752,000)	(10,497,000)
Cash and cash equivalents at beginning of period			$ 71,730,000		$ 99,247,000	71,730,000	99,247,000	99,247,000
Cash and cash equivalents at end of period		$ 58,978,000		$ 88,750,000		58,978,000	88,750,000	$ 71,730,000
Supplemental disclosure of cash flow information:
Insurance premiums financed						2,117,000	0
Noncash capital expenditures in accounts payable and accrued expenses						221,000	6,773,000
Noncash investment in affiliates for issuance of company stock						746,000	0
Noncash acquisitions of mining interests financed by sellers						2,668,000	0
Cash paid for interest						$ 287,000	$ 26,000
[1] Gain (loss) on sale of equity method investments includes a loss on the sale of shares in Sayona Mining of $17,215, partially offset by a gain on the sale of shares in Atlantic Lithium of $3,143 and a gain on dilution related to the issuance of additional shares of Atlantic Lithium of $186 for the six months ended June 30, 2024. There was no gain (loss) on sale of equity method investments for the three months ended June 30, 2024. For the three and six months ended June 30, 2023, we recognized a gain of $3,975 and $7,250 , respectively, related to the dilution of our ownership interest with the issuance of additional shares of Sayona Mining. See Note 7

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 Dec. 31, 2022		18,073
Beginning 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)		1,097
Issuance of common stock, net of issuance costs	71,084		71,084
Stock-based compensation, net of forfeitures	1,166		1,166
Shares issued for exercise/vesting of stock-based compensation awards (in shares)		13
Equity method investments adjustments in other comprehensive income (loss), net of tax	(2,213)				(2,213)
Net loss	(8,639)			(8,639)
Ending balance (in shares) at Mar. 31, 2023		19,183
Ending balance at Mar. 31, 2023	331,687	$ 2	453,492	(114,297)	(7,510)
Beginning balance (in shares) at Dec. 31, 2022		18,073
Beginning balance at Dec. 31, 2022	270,289	$ 2	381,242	(105,658)	(5,297)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(19,278)
Ending balance (in shares) at Jun. 30, 2023		19,196
Ending balance at Jun. 30, 2023	325,436	$ 2	456,758	(124,936)	(6,388)
Beginning balance (in shares) at Dec. 31, 2022		18,073
Beginning balance at Dec. 31, 2022	270,289	$ 2	381,242	(105,658)	(5,297)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	$ (21,800)
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)
Beginning balance (in shares) at Mar. 31, 2023		19,183
Beginning balance at Mar. 31, 2023	331,687	$ 2	453,492	(114,297)	(7,510)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, net (in shares)		0
Issuance of common stock, net of issuance costs	3,266		3,266
Shares issued for exercise/vesting of stock-based compensation awards (in shares)		13
Equity method investments adjustments in other comprehensive income (loss), net of tax	1,122				1,122
Net loss	(10,639)			(10,639)
Ending balance (in shares) at Jun. 30, 2023		19,196
Ending balance at Jun. 30, 2023	$ 325,436	$ 2	456,758	(124,936)	(6,388)
Beginning balance (in shares) at Dec. 31, 2023	19,272	19,272
Beginning balance at Dec. 31, 2023	$ 332,330	$ 2	462,899	(126,844)	(3,727)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, net (in shares)		53
Issuance of common stock, net of issuance costs	747		747
Stock-based compensation, net of forfeitures	2,106		2,106
Shares issued for exercise/vesting of stock-based compensation awards (in shares)		67
Shares surrendered for tax obligations for share-based transactions (in shares)		(27)
Shares surrendered for tax obligations for stock-based transactions	(592)		(592)
Equity method investments adjustments in other comprehensive income (loss), net of tax	87				87
Net loss	(23,611)			(23,611)
Ending balance (in shares) at Mar. 31, 2024		19,365
Ending balance at Mar. 31, 2024	$ 311,067	$ 2	465,160	(150,455)	(3,640)
Beginning balance (in shares) at Dec. 31, 2023	19,272	19,272
Beginning balance at Dec. 31, 2023	$ 332,330	$ 2	462,899	(126,844)	(3,727)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	$ (36,943)
Ending balance (in shares) at Jun. 30, 2024	19,371	19,371
Ending balance at Jun. 30, 2024	$ 299,625	$ 2	467,808	(163,787)	(4,398)
Beginning balance (in shares) at Mar. 31, 2024		19,365
Beginning balance at Mar. 31, 2024	311,067	$ 2	465,160	(150,455)	(3,640)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation, net of forfeitures	2,710		2,710
Shares issued for exercise/vesting of stock-based compensation awards (in shares)		10
Shares surrendered for tax obligations for share-based transactions (in shares)		(4)
Shares surrendered for tax obligations for stock-based transactions	(62)		(62)
Equity method investments adjustments in other comprehensive income (loss), net of tax	(758)				(758)
Net loss	$ (13,332)			(13,332)
Ending balance (in shares) at Jun. 30, 2024	19,371	19,371
Ending balance at Jun. 30, 2024	$ 299,625	$ 2	$ 467,808	$ (163,787)	$ (4,398)

DESCRIPTION OF COMPANY

DESCRIPTION OF COMPANY	6 Months Ended
	Jun. 30, 2024
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 projects include our wholly-owned Carolina Lithium project, a proposed, fully integrated spodumene ore-to-lithium hydroxide project and a second lithium hydroxide manufacturing train in Gaston County, North Carolina. Tennessee Lithium was a proposed secondary merchant lithium hydroxide manufacturing plant. Planned capacity for the Tennessee plant was consolidated to Carolina Lithium in the third quarter of 2024 as part of a two-phased development plan. 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 unaudited 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. Certain prior period amounts have been reclassified to be consistent with current period presentation. The unaudited 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. Certain information and note disclosures normally included in the consolidated financial statements prepared in accordance with U.S. GAAP have been omitted pursuant to such rules and regulations. Therefore, these unaudited interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in our Annual Report for the year ended December 31, 2023. These unaudited 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. The current period’s results of operations will not necessarily be indicative of results that ultimately may be achieved for the year ending December 31, 2024, for any other future interim periods, or for any other future fiscal year. 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 and marketable securities, 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 and investments in our lithium projects and affiliates in Quebec and Ghana, lithium price risk, competition from substitute products and services, protection of proprietary technology, litigation, and dependence on key individuals. Since inception, we have devoted substantial effort and capital resources to our exploration and development activities, permitting activities, construction activities, which includes such activities in international projects as part of our equity method investments. We have incurred net losses and negative cash flows from operations, including net losses of $36.9 million and $21.8 million during the six months ended June 30, 2024 and the year ended December 31, 2023, respectively. We have accumulated deficits o f $163.8 million and $126.8 million as of June 30, 2024 and December 31, 2023, respectively. The critical minerals value chain continues to experience headwinds which have negatively impacted the prices of lithium we sell. As a development stage company, we expect to continue to recognize losses and negative cash flows from operations for the foreseeable future as we continue to fund our development and exploration activities. In light of current market conditions, we have introduced additional cost reduction plans to further reduce our operating expenses and investments in our lithium projects and affiliates. We had available cash on hand of $59.0 million as of June 30, 2024. Based on our operating plan, which includes cost reduction plans discussed above, we believe our cash on hand will be sufficient to fund our operations and meet our obligations as they come due for the twelve months following the date these unaudited consolidated financial statements are issued. However, we have based our estimate on assumptions that may prove to be wrong, and our operating plan may change as a result of many factors, including lithium pricing. As a result, we could deplete our capital resources sooner than we currently expect. No assurances can be given that any additional cost reduction strategies we undertake would be sufficient to meet our needs. We expect to finance our future cash needs through a combination of sales of non-core assets, equity offerings, debt financings, and strategic partnerships. If we are unable to obtain funding, we would be forced to delay, reduce, or eliminate some or all of our exploration and development activities and joint venture fundings, which could adversely affect our business prospects and ultimately our ability to operate. 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. No assurances can be given that we will be able to successfully achieve these dependencies. Significant Accounting Policies There have been no changes to significant accounting policies described in Note 2— Summary of Significant Accounting Policies within Part II, Item 8 of our Annual Report for the year ended December 31, 2023. Recently Issued and Adopted Accounting Pronouncements We have considered the applicability and impact of all recently issued accounting pronouncements and have determined that they were either not applicable or were not expected to have a material impact on our unaudited consolidated financial statements.

REVENUE

REVENUE	6 Months Ended
	Jun. 30, 2024
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 customers, which is typically upon delivery to the shipping carrier. There are currently no contracts with multiple performance obligations. Revenue is measured as the amount of consideration expected to be received in exchange for transferring the goods. Payment terms and conditions vary by contract, although terms generally include a requirement of payment within 15 days to 75 days from shipment. Some contracts contain prepayment provisions which allow the customer to secure the right to receive their requested product volumes in a future period. Revenue from these contracts is initially deferred, thus creating a contract liability. Initial pricing is typically billed 5 days to 30 days after the departure of the shipment. Final pricing adjustments 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. Three customers accounted for 100% of total revenue for the periods presented below. 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 June 30, 2024. We may be subject to provisional revenue adjustments associated with commodity price fluctuations for our spodumene concentrate sales. These adjustments are unknown until final settlement. Revenue and provisional adjustments are reflected in the following table: (in thousands) Three Months Ended June 30, 2024 Six Months Ended June 30, 2024 Spodumene concentrate sales $ 13,320 $ 26,390 Provisional revenue adjustments (93) 238 Revenue $ 13,227 $ 26,628 Sales of spodumene concentrate commenced in the second half of 2023. As such, we did not record revenue during the three and six months ended June 30, 2023. Contract Liabilities Contract liabilities represent payments received from customers in advance of the satisfaction of performance obligations. As of June 30, 2024, we had $24.4 million of contract liabilities included in “Deferred revenue” in the consolidated balance sheets. We anticipate all such payments will be earned and recognized as revenue over the next twelve months. We had no contract liabilities as of December 31, 2023.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION Stock Incentive Plans Under our Stock Incentive Plan, we are authorized to grant 3,000,000 shares, or share equivalents, 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 and stock appreciation rights fully 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 June 30, 2024, 1,329,600 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 June 30, 2024, we had remaining unvested stock-based compensation expense of $12.6 million to be recognized through December 31, 2026. Additionally, and if applicable, we capitalize personnel expenses, including stock-based compensation expenses, attributable to the development of our mine and construction of our plants. 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: Three Months Ended Six Months Ended (in thousands) 2024 2023 2024 2023 Components of stock-based compensation: Stock-based compensation $ 2,720 $ 3,266 $ 4,866 $ 4,437 Stock-based compensation forfeitures (10) — (50) (5) Stock-based compensation, net of forfeitures $ 2,710 $ 3,266 $ 4,816 $ 4,432 Presentation of stock-based compensation in the unaudited consolidated financial statements: Exploration costs $ 3 $ 51 $ 8 $ 71 Selling, general and administrative expenses 2,570 3,135 4,632 4,240 Stock-based compensation expense, net of forfeitures (1) 2,573 3,186 4,640 4,311 Capitalized stock-based compensation (2) 137 80 176 121 Stock-based compensation, net of forfeitures $ 2,710 $ 3,266 $ 4,816 $ 4,432 __________________________ (1) We did not reflect a tax benefit associated with stock-based compensation expense in our 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 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: Three Months Ended Six Months Ended 2024 2023 2024 2023 Expected life of options (in years) 6.3 6.2 6.3 -6.4 6.2 - 6.4 Risk-free interest rate 4.3% 3.9% 4.2% - 4.3% 3.9% - 4.2% Assumed volatility 40% 40% 35% - 40% 40% Expected dividend rate — — — — Restricted Stock Unit Awards RSUs may be granted to employees and non-employee directors and recognized as stock-based compensation expense over the vesting period, subject to the passage of time and continued service during the vesting period, based on the market price of our common stock on the grant date. In some instances, awards may vest concurrently with or following an employee’s termination. Performance Rights Awards As of June 30, 2024, there were 20,162 unvested Milestone PRAs and 280,256 unvested TSR PRAs. The awards become eligible to vest only if certain 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 to simulate a range of possible future stock prices for the Company and each member of the peer group over the performance periods to determine the grant date fair value. 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 and is based on actual performance at the end of each performance period ranging from 1 year to 3 years. The following assumptions were used in the Monte Carlo simulation for TSR PRAs granted during periods presented below: Three Months Ended Six Months Ended 2024 2023 2024 2023 Expected term (in years) 1 - 3 1 - 3 1 -3 1 - 3 Risk-free interest rate 4.8% 4.9% 4.7% - 4.8% 4.9% Assumed volatility 50% 60% 50% 60% Expected dividend yield — — — — A summary of activity related to our share-based awards is presented in the following table: 2024 2023 (in thousands) Stock Option Awards Restricted Stock Units Performance Rights Awards Stock Option Awards Restricted Stock Units Performance Rights Awards Share balance at January 1 295 80 86 265 36 44 Granted 155 200 123 42 40 42 Exercised, surrendered or vested — (35) (32) — (13) — Forfeited or expired — (2) — — (1) — Share balance at March 31 450 243 177 307 62 86 Granted 170 117 129 30 31 27 Exercised, surrendered or vested — (5) (5) — (12) — Forfeited or expired — (2) — — — — Share balance at June 30 620 353 301 337 81 113

OTHER (LOSS) GAIN

OTHER (LOSS) GAIN	6 Months Ended
	Jun. 30, 2024
Other Income and Expenses [Abstract]
OTHER (LOSS) GAIN	OTHER (LOSS) GAIN Other (loss) gain is reflected in the following table: Three Months Ended Six Months Ended (in thousands) 2024 2023 2024 2023 Gain on equity securities $ 210 $ — $ 1,594 $ — Loss on sale of assets (656) — (656) — Gain (loss) from foreign currency exchange 158 (17) 27 (66) Other (loss) gain $ (288) $ (17) $ 965 $ (66) The gain on equity securities relates to realized and unrealized gains (losses) of our investments in marketable and equity securities. Loss on sale of assets primarily relates to our sale or disposal of property, plant and mine development assets. Foreign currency exchange gain (loss) primarily relates to our foreign bank accounts denominated in Canadian dollars and Australian dollars and marketable securities denominated in Australian dollars.

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Jun. 30, 2024
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: Three Months Ended Six Months Ended (in thousands, except per share amounts) 2024 2023 2024 2023 Net loss $ (13,332) $ (10,639) $ (36,943) $ (19,278) Weighted-average number of common shares used in calculating basic earnings per share 19,370 19,187 19,348 18,857 Basic and diluted net loss per weighted-average share $ (0.69) $ (0.55) $ (1.91) $ (1.02) 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 as of the end of the reporting period. The potentially dilutive and anti-dilutive shares not included in diluted net loss per share are presented in the following table: June 30, (in thousands) 2024 2023 Stock options 620 337 RSUs 353 81 PRAs 301 113 Total potentially dilutive shares 1,274 531

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES We recorded a $2 thousand income tax provision on a loss before taxes of $13.3 million and a provision of $0.6 million on a loss before taxes of $10.0 million in the three months ended June 30, 2024 and 2023, respectively. We recorded an income tax benefit of $3.1 million on a loss before taxes of $40.0 million and a provision of $1.1 million on a loss before taxes of $18.1 million in the six months ended June 30, 2024 and 2023, respectively.The effective tax rates were 0.0% and (6.5)% in the three months ended June 30, 2024 and 2023, respectively, and 7.7% and (6.3)% in the six months ended June 30, 2024 and 2023, respectively. The effective tax rate in the three and six months ended June 30, 2024 and 2023 differs from the U.S. federal statutory rate due to the valuation allowance against our U.S. deferred tax assets and income or loss in foreign jurisdictions that is taxed at different rates than the U.S. statutory tax rate. The decrease in income tax expense for the three and six months ended June 30, 2024 as compared to the three and six months ended June 30, 2023 was primarily due to the Australian tax effects of our gain on sale of shares in Sayona Mining in the six months ended June 30, 2024. The sale of Sayona Mining shares resulted in a book loss of $17.2 million, primarily due to the previously recorded non-cash gains on dilution of $46.3 million over the life of our investment. The deferred tax on the investment of $6.0 million was reversed for a deferred tax benefit, offset by a $3.2 million tax payable on the total taxable gain of $22.0 million. The tax payable of $3.2 million is recorded in “Other current liabilities” in our consolidated balance sheets.

EQUITY METHOD INVESTMENTS

EQUITY METHOD INVESTMENTS	6 Months Ended
	Jun. 30, 2024
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. The following tables summarize the carrying amounts, including changes therein, of our equity method investments: Three Months Ended June 30, 2024 (in thousands) Sayona Quebec Vinland Lithium Total Balance at March 31, 2024 $ 81,792 $ 1,677 $ 83,469 Additional investments 4,913 5 4,918 Loss from equity method investments (4,860) (50) (4,910) Foreign currency translation adjustments of equity method investments (740) (18) (758) Balance at June 30, 2024 $ 81,105 $ 1,614 $ 82,719 Six Months Ended June 30, 2024 (in thousands) Sayona Mining (2) Sayona Quebec Atlantic Lithium (3) Vinland Lithium Total Balance at December 31, 2023 $ 59,494 $ 76,552 $ 9,825 $ 1,791 $ 147,662 Additional investments — 14,961 — 5 14,966 Gain on dilution of equity method investments (1) — — 186 — 186 Loss from equity method investments (2,094) (7,933) (198) (125) (10,350) Foreign currency translation adjustments of equity method investments 1,228 (2,475) 856 (57) (448) Net proceeds from sale of shares (41,413) — (7,690) — (49,103) (Loss) gain on sale of shares of equity method investments (4) (17,215) — 3,143 — (14,072) Transfer to investments in marketable securities — — (6,122) — (6,122) Balance at June 30, 2024 $ — $ 81,105 $ — $ 1,614 $ 82,719 __________________________ (1) Gain on dilution of equity method investments relates to the exercise of stock options and share grants which resulted in a reduction of our ownership in Atlantic Lithium and is included in “Gain (loss) on sale of equity method investments” in our consolidated financial statements. (2) As of March 31, 2024, Sayona Mining is no longer accounted for as an equity method investment. During the three months ended March 31, 2024, we sold 1,249,806,231 shares of Sayona Mining for an average of $0.03 per share. The shares sold represented our entire holding in Sayona Mining and approximately 12% of Sayona Mining’s outstanding shares and resulted in net proceeds of $41.4 million. The sale of these shares has no impact on our joint venture or offtake rights with Sayona Quebec. (3) As of March 31, 2024, Atlantic Lithium is no longer accounted for as an equity method investment. During the three months ended March 31, 2024, we sold 24,479,868 shares of Atlantic Lithium for an average $0.32 per share. The shares sold represented approximately 4% of Atlantic Lithium’s outstanding shares and resulted in net proceeds of $7.7 million. In connection with the sale of the shares, we no longer hold a board seat with Atlantic Lithium and therefore do not exercise significant influence. Our remaining investment in Atlantic Lithium of approximately 5% is accounted for as an investment in marketable securities and presented at fair value at each reporting date based on the closing price of Atlantic Lithium’s share price on the ASX. See Note 9 —Other Assets and Liabilities . Our reduced ownership in Atlantic Lithium has no impact on our earn-in or offtake rights with Atlantic Lithium and the Ewoyaa project. (4) Amounts reclassified out of accumulated other comprehensive loss into net income related to the sale of shares of equity method investments were $3.0 million and $0.6 million, net of tax, for Sayona Mining and Atlantic Lithium, respectively. Three Months Ended June 30, 2023 (in thousands) Sayona Mining Sayona Quebec Atlantic Lithium Total Balance at March 31, 2023 $ 44,188 $ 50,549 $ 10,659 $ 105,396 Additional investments — 16,085 41 16,126 Gain on dilution of equity method investments (1) 3,975 — — 3,975 Loss from equity method investments (1,013) (1,335) (327) (2,675) Foreign currency translation adjustments of equity method investments 133 1,247 (162) 1,218 Balance at June 30, 2023 $ 47,283 $ 66,546 $ 10,211 $ 124,040 __________________________ (1) Gain on dilution of equity method investments relates to issuances of additional shares of Sayona Mining, which reduced our ownership interest in Sayona Mining and is included in “Gain (loss) on sale of equity method investments” in our consolidated financial statements. Six Months Ended June 30, 2023 (in thousands) Sayona Mining Sayona Quebec Atlantic Lithium Total Balance at December 31, 2022 $ 44,619 $ 39,763 $ 11,265 $ 95,647 Additional investments 102 28,075 41 28,218 Gain on dilution of equity method investments (1) 7,250 — — 7,250 Loss from equity method investments (2,054) (2,604) (759) (5,417) Foreign currency translation adjustments of equity method investments (2,634) 1,312 (336) (1,658) Balance at June 30, 2023 $ 47,283 $ 66,546 $ 10,211 $ 124,040 __________________________ (1) Gain on dilution of equity method investments relates to issuances of additional shares of Sayona Mining, which reduced our ownership interest in Sayona Mining and is included in “Gain (loss) on sale of equity method investments” in our consolidated financial statements. As of June 30, 2024, we accounted for our existing investments in Sayona Quebec and Vinland Lithium as equity method investments. 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 Authier and Tansim. We hold a life-of-mine offtake agreement with Sayona Quebec for the greater of 113,000 dmt 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 dmt and a price ceiling of $900 per dmt for 6.0% spodumene concentrate on a DAP (Incoterms 2020) 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, then spodumene concentrate produced from NAL would be preferentially delivered to that conversion plant upon commencement of conversion operations. Any remaining spodumene concentrate not delivered to 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. In the three months ended June 30, 2024, NAL produced approximately 49,700 dmt of spodumene concentrate and shipped approximately 27,700 dmt, of which approximately 14,000 dmt were sold to Piedmont Lithium. We sold approximately 14,000 dmt of spodumene concentrate and recognized $13.2 million in revenue with a realized sales price of $945 per dmt and a realized cost of sales of $900 per dmt, in the three months ended June 30, 2024. In the six months ended June 30, 2024, NAL produced approximately 90,100 dmt of spodumene concentrate and shipped approximately 85,700 dmt, of which approximately 29,500 dmt were sold to Piedmont Lithium. We sold approximately 29,500 dmt of spodumene concentrate and recognized $26.6 million in revenue with a realized sales price of $903 per dmt and a realized cost of sales of $858 per dmt, in the six months ended June 30, 2024. Realized cost of sales is the average cost of sales based on our offtake pricing agreement with Sayona Quebec for the purchase of spodumene concentrate at a market price subject to a floor of $500 per dmt and a ceiling of $900 per dmt, with adjustments for product grade, freight, and insurance. Payables to NAL of $0.1 million and $0.2 million as of June 30, 2024 and December 31, 2023, respectively, are recorded in “Payables to affiliates” in our consolidated balance sheets. 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. Our share of income (loss) from equity method investments is recorded on a one-quarter lag in “Loss from equity method investments” within “Loss from operations” in our consolidated statements of operations. Summarized Financial Information The following tables present summarized financial information is included in our share of loss from equity method investments noted above for our significant equity investment Sayona Quebec. The balances below were compiled from information provided to us by Sayona Quebec and are presented in accordance with U.S. GAAP: Three Months Ended Six Months Ended (in thousands) 2024 2023 2024 2023 Revenue $ 34,092 $ — $ 56,982 $ — Gross profit (loss) (18,120) — (32,597) — Net loss from operations (19,590) (5,340) (34,114) (10,418) Net loss (19,439) (5,340) (31,729) (10,418)

ADVANCES TO AFFILIATES

ADVANCES TO AFFILIATES	6 Months Ended
	Jun. 30, 2024
Related Party Transactions [Abstract]
ADVANCES TO AFFILIATES	ADVANCES TO AFFILIATES Advances to affiliates consisted of the following: (in thousands) June 30, December 31, Ewoyaa $ 34,344 $ 26,378 Killick Lithium 2,749 1,811 Total advances to affiliates $ 37,093 $ 28,189 Advances to affiliates relate to staged investments for future planned lithium projects. We have a strategic partnership with Atlantic Lithium that includes Atlantic Lithium Ghana’s flagship Ewoyaa project. Under our partnership, we entered into a project agreement to acquire a 50% equity interest in Atlantic Lithium Ghana in two phases, with each phase requiring us to make future staged investments in Ewoyaa over a period of time in order to earn our additional interest. We have an earn-in agreement with Vinland Lithium to acquire up to a 62.5% equity interest in Killick Lithium. 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 June 30, 2024, we did not own an equity interest in Atlantic Lithium Ghana or Killick Lithium. W e have made advances to Atlantic Lithium for Ewoyaa totaling $3.0 million and $3.9 million in the three months ended June 30, 2024 and 2023, respectively, and $8.0 million and $4.7 million in the six months ended June 30, 2024 and 2023, respectively. We have made advances to Vinland Lithium for Killick Lithium totaling $0.2 million and $0.9 million in the three and six months ended June 30, 2024, respectively. Ewoyaa We completed Phase 1 of our investment in mid-2023, which allowed 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 contemplated under Phase 2. Atlantic Lithium issued their DFS for Ewoyaa in June 2023. In August 2023, we supplied Atlantic Lithium with notification of our intent to proceed with additional funding for Phase 2. 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. Upon issuance of our equity interest associated with Phase 1 and completion and issuance of our equity interested associated with Phase 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 that will be held by the Ghanaian government and MIIF, resulting in an effective ownership interest of 40.5% in Ewoyaa, by Piedmont Lithium. Killick Lithium

OTHER ASSETS AND LIABILITIES

OTHER ASSETS AND LIABILITIES	6 Months Ended
	Jun. 30, 2024
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) June 30, December 31, Marketable securities $ 8,025 $ — Prepaid and other current assets 3,133 3,345 Equity securities 237 484 Total other current assets $ 11,395 $ 3,829 Our investments in marketable securities consisted of common shares in Atlantic Lithium, a publicly traded company on the ASX. During the three and six months ended June 30, 2024, we recognized a gain of $0.2 million and $1.8 million, respectively, based on changes to fair value of the marketable securities. Prior to March 31, 2024, we accounted for Atlantic Lithium under the equity method of accounting. See Note 7 —Equity Method Investments. Our investment in equity securities consisted of common shares in Ricca, a private company focused on gold exploration in Africa. We recognized a loss of $0.0 million and $0.2 million on the equity securities based on changes in observable market data during the three and six months ended June 30, 2024, respectively. Other non-current assets consisted of the following: (in thousands) June 30, December 31, Operating lease right-of-use assets $ 1,162 $ 1,371 Asset retirement obligation, net 400 414 Other non-current assets 303 379 Total other non-current assets $ 1,865 $ 2,164 Asset retirement obligation is net of accumulated amortization of $21 thousand, and $7 thousand as of June 30, 2024 and December 31, 2023, respectively. Other current liabilities consisted of the following: (in thousands) June 30, December 31, Current tax payable $ 3,151 $ — Financed insurance premiums 1,599 — Operating lease liabilities 303 312 Accrued provisional revenue adjustment — 29,151 Total other current liabilities $ 5,053 $ 29,463 During the three months ended June 30, 2024,we entered into a financing agreement through our insurance broker to spread the payment of our annual director’s and officer’s insurance premium over an eight-month period. Total financed payments totaling $2.1 million will be made between May 2024 and January 2025 at a rate of 8.2%. The outstanding balance of the liability as of June 30, 2024 was approximately $1.6 million. Total interest expense incurred during the three and six months ended June 30, 2024 was $11 thousand.
OTHER ASSETS AND LIABILITIES	OTHER ASSETS AND LIABILITIES Other current assets consisted of the following: (in thousands) June 30, December 31, Marketable securities $ 8,025 $ — Prepaid and other current assets 3,133 3,345 Equity securities 237 484 Total other current assets $ 11,395 $ 3,829 Our investments in marketable securities consisted of common shares in Atlantic Lithium, a publicly traded company on the ASX. During the three and six months ended June 30, 2024, we recognized a gain of $0.2 million and $1.8 million, respectively, based on changes to fair value of the marketable securities. Prior to March 31, 2024, we accounted for Atlantic Lithium under the equity method of accounting. See Note 7 —Equity Method Investments. Our investment in equity securities consisted of common shares in Ricca, a private company focused on gold exploration in Africa. We recognized a loss of $0.0 million and $0.2 million on the equity securities based on changes in observable market data during the three and six months ended June 30, 2024, respectively. Other non-current assets consisted of the following: (in thousands) June 30, December 31, Operating lease right-of-use assets $ 1,162 $ 1,371 Asset retirement obligation, net 400 414 Other non-current assets 303 379 Total other non-current assets $ 1,865 $ 2,164 Asset retirement obligation is net of accumulated amortization of $21 thousand, and $7 thousand as of June 30, 2024 and December 31, 2023, respectively. Other current liabilities consisted of the following: (in thousands) June 30, December 31, Current tax payable $ 3,151 $ — Financed insurance premiums 1,599 — Operating lease liabilities 303 312 Accrued provisional revenue adjustment — 29,151 Total other current liabilities $ 5,053 $ 29,463 During the three months ended June 30, 2024,we entered into a financing agreement through our insurance broker to spread the payment of our annual director’s and officer’s insurance premium over an eight-month period. Total financed payments totaling $2.1 million will be made between May 2024 and January 2025 at a rate of 8.2%. The outstanding balance of the liability as of June 30, 2024 was approximately $1.6 million. Total interest expense incurred during the three and six months ended June 30, 2024 was $11 thousand.

EQUITY

EQUITY	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
EQUITY	EQUITY 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. In May 2024, we entered into an ATM Program with B. Riley Securities, Inc., whereby we may from time to time, at our discretion, issue and sell up to $50 million of our Class A common stock through any method deemed to be an “at-the-market” offering, as defined in Rule 415 of the Exchange Act, or any method specified in the ATM Program. We have not issued any shares under the ATM Program through June 30, 2024. In February 2024, we issued a total of 52,701 shares of our common stock at an issue price of $14.17 per share as an advance of our funding obligations to Killick Lithium. 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 shares of our common stock at a price of $68.40 per share and in conjunction with a multi-year spodumene concentrate offtake agreement. Share issuance costs associated with the issuance totaled $3.9 million and were accounted for as a reduction in the proceeds from share issuances in our consolidated balance sheets. As of June 30, 2024, $500 million of securities were available under our shelf registration statement, which expires on September 24, 2024.

SEGMENT REPORTING

SEGMENT REPORTING	6 Months Ended
	Jun. 30, 2024
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.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
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 marketable and equity securities, trade and other payables, and long-term debt as follows: • Long-term debt—As of June 30, 2024 and December 31, 2023, we had $2.7 million and $0.2 million, respectively, of principal debt outstanding associated with seller financed loans for properties acquired at Carolina Lithium. The carrying value of our long-term debt approximates its estimated fair value. • Investments in marketable and equity securities—As of June 30, 2024 and December 31, 2023, we had $8.3 million and $0.5 million, respectively, of investments in marketable and equity securities which are recorded at fair value. $8.0 million are related to shares of Atlantic Lithium which are based on Level 1 inputs, and $0.2 million are related to shares of Ricca which are based on Level 2 inputs. See Note 9— 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 and are based on Level 1 inputs. Level 3 activity was not material for all periods presented.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Legal Proceedings We are involved from time to time in various claims, proceedings, and litigation. We establish reserves for specific legal proceedings when we determine that the likelihood of an unfavorable outcome is probable, and the amount of loss can be reasonably estimated. In July 2021, a 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 Quarterly Report, the lead plaintiff did not appeal the decision of the Court. 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 purported to bring claims against certain of the Company’s officers and directors. The complaint alleged 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 focused 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 above, and the Court ordered the case stayed in October 2022. 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 alleged 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 above, and the Court ordered the case stayed. On March 11, 2024, after dismissal was granted in the securities law matters described above, the parties in the Thomascik and Varbaro cases stipulated to dismiss their two actions with prejudice. Accordingly, the court directed that each of the Thomascik and Varbaro cases be closed on March 13, 2024 and March 22, 2024, respectively. 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 U.S. The Company is cooperating with the SEC to respond to the subpoena in a timely manner. On June 6, 2024, four petitioners with residential or business properties near our permitted Carolina Lithium project filed a Petition for a Contested Case Hearing with the North Carolina Office of Administrative Hearings challenging DEMLR’s issuance of our mining permit for the Carolina Lithium project. The petition alleges DEMLR exceeded its authority, acted erroneously, failed to follow proper procedures, acted arbitrarily and failed to act as required by law when issuing our mining permit. On July 3, 2024, we filed a Motion to Intervene in the Contested Case Hearing. On July 8, 2024, the Office of Administrative Hearings granted our Motion to Intervene. We intend to support DEMLR in its defense of the issuance of our mining permit. Asset Retirement Obligations

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS In July 2024, Piedmont streamlined its U.S. lithium hydroxide production plans in favor of shifting our proposed Tennessee Lithium conversion capacity to Carolina Lithium, in a phased approach, allowing us to deploy capital and technical resources more efficiently. The book value of Tennessee Lithium assets as of June 30, 2024 was approximately $34.5 million, which includes $2.6 million in land for our monofil disposal facility in Etowah, Tennessee. We plan to transfer the vast majority of the completed front-end completed for Tennessee Lithium to Carolina Lithium, adding a second lithium hydroxide production train to the integrated project as part of a second phase of development. We anticipate a write-down of our capitalized construction and development costs associated with Tennessee Lithium of approximately $1.0 million to $2.0 million during the third quarter of 2024. We are currently evaluating options for our monofil disposal facility in Tennessee. Except as described above, there have been no events subsequent to June 30, 2024 which would require accrual or disclosure in these consolidated financial statements.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended				6 Months Ended		12 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Pay vs Performance Disclosure
Net loss	$ (13,332)	$ (23,611)	$ (10,639)	$ (8,639)	$ (36,943)	$ (19,278)	$ (21,800)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2024
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

DESCRIPTION OF COMPANY (Policie

DESCRIPTION OF COMPANY (Policies)	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation Our unaudited 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. Certain prior period amounts have been reclassified to be consistent with current period presentation. The unaudited 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. Certain information and note disclosures normally included in the consolidated financial statements prepared in accordance with U.S. GAAP have been omitted pursuant to such rules and regulations. Therefore, these unaudited interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in our Annual Report for the year ended December 31, 2023. These unaudited 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. The current period’s results of operations will not necessarily be indicative of results that ultimately may be achieved for the year ending December 31, 2024, for any other future interim periods, or for any other future fiscal year.
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 and marketable securities, 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 and investments in our lithium projects and affiliates in Quebec and Ghana, lithium price risk, competition from substitute products and services, protection of proprietary technology, litigation, and dependence on key individuals. Since inception, we have devoted substantial effort and capital resources to our exploration and development activities, permitting activities, construction activities, which includes such activities in international projects as part of our equity method investments. We have incurred net losses and negative cash flows from operations, including net losses of $36.9 million and $21.8 million during the six months ended June 30, 2024 and the year ended December 31, 2023, respectively. We have accumulated deficits o f $163.8 million and $126.8 million as of June 30, 2024 and December 31, 2023, respectively. The critical minerals value chain continues to experience headwinds which have negatively impacted the prices of lithium we sell. As a development stage company, we expect to continue to recognize losses and negative cash flows from operations for the foreseeable future as we continue to fund our development and exploration activities. In light of current market conditions, we have introduced additional cost reduction plans to further reduce our operating expenses and investments in our lithium projects and affiliates. We had available cash on hand of $59.0 million as of June 30, 2024. Based on our operating plan, which includes cost reduction plans discussed above, we believe our cash on hand will be sufficient to fund our operations and meet our obligations as they come due for the twelve months following the date these unaudited consolidated financial statements are issued. However, we have based our estimate on assumptions that may prove to be wrong, and our operating plan may change as a result of many factors, including lithium pricing. As a result, we could deplete our capital resources sooner than we currently expect. No assurances can be given that any additional cost reduction strategies we undertake would be sufficient to meet our needs. We expect to finance our future cash needs through a combination of sales of non-core assets, equity offerings, debt financings, and strategic partnerships. If we are unable to obtain funding, we would be forced to delay, reduce, or eliminate some or all of our exploration and development activities and joint venture fundings, which could adversely affect our business prospects and ultimately our ability to operate. 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. No assurances can be given that we will be able to successfully achieve these dependencies.
Recently Issued and Adopted Accounting Pronouncements	Recently Issued and Adopted Accounting Pronouncements We have considered the applicability and impact of all recently issued accounting pronouncements and have determined that they were either not applicable or were not expected to have a material impact on our unaudited consolidated financial statements.
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.

REVENUE (Tables)

REVENUE (Tables)	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	Revenue and provisional adjustments are reflected in the following table: (in thousands) Three Months Ended June 30, 2024 Six Months Ended June 30, 2024 Spodumene concentrate sales $ 13,320 $ 26,390 Provisional revenue adjustments (93) 238 Revenue $ 13,227 $ 26,628

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	6 Months Ended
	Jun. 30, 2024
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: Three Months Ended Six Months Ended (in thousands) 2024 2023 2024 2023 Components of stock-based compensation: Stock-based compensation $ 2,720 $ 3,266 $ 4,866 $ 4,437 Stock-based compensation forfeitures (10) — (50) (5) Stock-based compensation, net of forfeitures $ 2,710 $ 3,266 $ 4,816 $ 4,432 Presentation of stock-based compensation in the unaudited consolidated financial statements: Exploration costs $ 3 $ 51 $ 8 $ 71 Selling, general and administrative expenses 2,570 3,135 4,632 4,240 Stock-based compensation expense, net of forfeitures (1) 2,573 3,186 4,640 4,311 Capitalized stock-based compensation (2) 137 80 176 121 Stock-based compensation, net of forfeitures $ 2,710 $ 3,266 $ 4,816 $ 4,432 __________________________ (1) We did not reflect a tax benefit associated with stock-based compensation expense in our 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 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: Three Months Ended Six Months Ended 2024 2023 2024 2023 Expected life of options (in years) 6.3 6.2 6.3 -6.4 6.2 - 6.4 Risk-free interest rate 4.3% 3.9% 4.2% - 4.3% 3.9% - 4.2% Assumed volatility 40% 40% 35% - 40% 40% Expected dividend rate — — — —
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 periods presented below: Three Months Ended Six Months Ended 2024 2023 2024 2023 Expected term (in years) 1 - 3 1 - 3 1 -3 1 - 3 Risk-free interest rate 4.8% 4.9% 4.7% - 4.8% 4.9% Assumed volatility 50% 60% 50% 60% Expected dividend yield — — — —
Schedule of Share-Based Payment Arrangement, Activity	A summary of activity related to our share-based awards is presented in the following table: 2024 2023 (in thousands) Stock Option Awards Restricted Stock Units Performance Rights Awards Stock Option Awards Restricted Stock Units Performance Rights Awards Share balance at January 1 295 80 86 265 36 44 Granted 155 200 123 42 40 42 Exercised, surrendered or vested — (35) (32) — (13) — Forfeited or expired — (2) — — (1) — Share balance at March 31 450 243 177 307 62 86 Granted 170 117 129 30 31 27 Exercised, surrendered or vested — (5) (5) — (12) — Forfeited or expired — (2) — — — — Share balance at June 30 620 353 301 337 81 113

OTHER (LOSS) GAIN (Tables)

OTHER (LOSS) GAIN (Tables)	6 Months Ended
	Jun. 30, 2024
Other Income and Expenses [Abstract]
Schedule of Other Operating Cost and Expense, by Component	Other (loss) gain is reflected in the following table: Three Months Ended Six Months Ended (in thousands) 2024 2023 2024 2023 Gain on equity securities $ 210 $ — $ 1,594 $ — Loss on sale of assets (656) — (656) — Gain (loss) from foreign currency exchange 158 (17) 27 (66) Other (loss) gain $ (288) $ (17) $ 965 $ (66)

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2024
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: Three Months Ended Six Months Ended (in thousands, except per share amounts) 2024 2023 2024 2023 Net loss $ (13,332) $ (10,639) $ (36,943) $ (19,278) Weighted-average number of common shares used in calculating basic earnings per share 19,370 19,187 19,348 18,857 Basic and diluted net loss per weighted-average share $ (0.69) $ (0.55) $ (1.91) $ (1.02)
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: June 30, (in thousands) 2024 2023 Stock options 620 337 RSUs 353 81 PRAs 301 113 Total potentially dilutive shares 1,274 531

EQUITY METHOD INVESTMENTS (Tabl

EQUITY METHOD INVESTMENTS (Tables)	6 Months Ended
	Jun. 30, 2024
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Equity Method Investments	The following tables summarize the carrying amounts, including changes therein, of our equity method investments: Three Months Ended June 30, 2024 (in thousands) Sayona Quebec Vinland Lithium Total Balance at March 31, 2024 $ 81,792 $ 1,677 $ 83,469 Additional investments 4,913 5 4,918 Loss from equity method investments (4,860) (50) (4,910) Foreign currency translation adjustments of equity method investments (740) (18) (758) Balance at June 30, 2024 $ 81,105 $ 1,614 $ 82,719 Six Months Ended June 30, 2024 (in thousands) Sayona Mining (2) Sayona Quebec Atlantic Lithium (3) Vinland Lithium Total Balance at December 31, 2023 $ 59,494 $ 76,552 $ 9,825 $ 1,791 $ 147,662 Additional investments — 14,961 — 5 14,966 Gain on dilution of equity method investments (1) — — 186 — 186 Loss from equity method investments (2,094) (7,933) (198) (125) (10,350) Foreign currency translation adjustments of equity method investments 1,228 (2,475) 856 (57) (448) Net proceeds from sale of shares (41,413) — (7,690) — (49,103) (Loss) gain on sale of shares of equity method investments (4) (17,215) — 3,143 — (14,072) Transfer to investments in marketable securities — — (6,122) — (6,122) Balance at June 30, 2024 $ — $ 81,105 $ — $ 1,614 $ 82,719 __________________________ (1) Gain on dilution of equity method investments relates to the exercise of stock options and share grants which resulted in a reduction of our ownership in Atlantic Lithium and is included in “Gain (loss) on sale of equity method investments” in our consolidated financial statements. (2) As of March 31, 2024, Sayona Mining is no longer accounted for as an equity method investment. During the three months ended March 31, 2024, we sold 1,249,806,231 shares of Sayona Mining for an average of $0.03 per share. The shares sold represented our entire holding in Sayona Mining and approximately 12% of Sayona Mining’s outstanding shares and resulted in net proceeds of $41.4 million. The sale of these shares has no impact on our joint venture or offtake rights with Sayona Quebec. (3) As of March 31, 2024, Atlantic Lithium is no longer accounted for as an equity method investment. During the three months ended March 31, 2024, we sold 24,479,868 shares of Atlantic Lithium for an average $0.32 per share. The shares sold represented approximately 4% of Atlantic Lithium’s outstanding shares and resulted in net proceeds of $7.7 million. In connection with the sale of the shares, we no longer hold a board seat with Atlantic Lithium and therefore do not exercise significant influence. Our remaining investment in Atlantic Lithium of approximately 5% is accounted for as an investment in marketable securities and presented at fair value at each reporting date based on the closing price of Atlantic Lithium’s share price on the ASX. See Note 9 —Other Assets and Liabilities . Our reduced ownership in Atlantic Lithium has no impact on our earn-in or offtake rights with Atlantic Lithium and the Ewoyaa project. (4) Amounts reclassified out of accumulated other comprehensive loss into net income related to the sale of shares of equity method investments were $3.0 million and $0.6 million, net of tax, for Sayona Mining and Atlantic Lithium, respectively. Three Months Ended June 30, 2023 (in thousands) Sayona Mining Sayona Quebec Atlantic Lithium Total Balance at March 31, 2023 $ 44,188 $ 50,549 $ 10,659 $ 105,396 Additional investments — 16,085 41 16,126 Gain on dilution of equity method investments (1) 3,975 — — 3,975 Loss from equity method investments (1,013) (1,335) (327) (2,675) Foreign currency translation adjustments of equity method investments 133 1,247 (162) 1,218 Balance at June 30, 2023 $ 47,283 $ 66,546 $ 10,211 $ 124,040 __________________________ (1) Gain on dilution of equity method investments relates to issuances of additional shares of Sayona Mining, which reduced our ownership interest in Sayona Mining and is included in “Gain (loss) on sale of equity method investments” in our consolidated financial statements. Six Months Ended June 30, 2023 (in thousands) Sayona Mining Sayona Quebec Atlantic Lithium Total Balance at December 31, 2022 $ 44,619 $ 39,763 $ 11,265 $ 95,647 Additional investments 102 28,075 41 28,218 Gain on dilution of equity method investments (1) 7,250 — — 7,250 Loss from equity method investments (2,054) (2,604) (759) (5,417) Foreign currency translation adjustments of equity method investments (2,634) 1,312 (336) (1,658) Balance at June 30, 2023 $ 47,283 $ 66,546 $ 10,211 $ 124,040 __________________________ (1) Gain on dilution of equity method investments relates to issuances of additional shares of Sayona Mining, which reduced our ownership interest in Sayona Mining and is included in “Gain (loss) on sale of equity method investments” in our consolidated financial statements. The following tables present summarized financial information is included in our share of loss from equity method investments noted above for our significant equity investment Sayona Quebec. The balances below were compiled from information provided to us by Sayona Quebec and are presented in accordance with U.S. GAAP: Three Months Ended Six Months Ended (in thousands) 2024 2023 2024 2023 Revenue $ 34,092 $ — $ 56,982 $ — Gross profit (loss) (18,120) — (32,597) — Net loss from operations (19,590) (5,340) (34,114) (10,418) Net loss (19,439) (5,340) (31,729) (10,418)

ADVANCES TO AFFILIATES (Tables)

ADVANCES TO AFFILIATES (Tables)	6 Months Ended
	Jun. 30, 2024
Related Party Transactions [Abstract]
Schedule of Advance to Affiliates	Advances to affiliates consisted of the following: (in thousands) June 30, December 31, Ewoyaa $ 34,344 $ 26,378 Killick Lithium 2,749 1,811 Total advances to affiliates $ 37,093 $ 28,189

OTHER ASSETS AND LIABILITIES (T

OTHER ASSETS AND LIABILITIES (Tables)	6 Months Ended
	Jun. 30, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Current Assets	Other current assets consisted of the following: (in thousands) June 30, December 31, Marketable securities $ 8,025 $ — Prepaid and other current assets 3,133 3,345 Equity securities 237 484 Total other current assets $ 11,395 $ 3,829
Schedule of Other Non-current Assets	Other non-current assets consisted of the following: (in thousands) June 30, December 31, Operating lease right-of-use assets $ 1,162 $ 1,371 Asset retirement obligation, net 400 414 Other non-current assets 303 379 Total other non-current assets $ 1,865 $ 2,164
Schedule of Other Current Liabilities	Other current liabilities consisted of the following: (in thousands) June 30, December 31, Current tax payable $ 3,151 $ — Financed insurance premiums 1,599 — Operating lease liabilities 303 312 Accrued provisional revenue adjustment — 29,151 Total other current liabilities $ 5,053 $ 29,463

DESCRIPTION OF COMPANY (Details

DESCRIPTION OF COMPANY (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended		12 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Net loss	$ (13,332)	$ (23,611)	$ (10,639)	$ (8,639)	$ (36,943)	$ (19,278)	$ (21,800)
Accumulated deficits	163,787				163,787		126,844
Cash and cash equivalents	$ 58,978				$ 58,978		$ 71,730

REVENUE - Additional Informatio

REVENUE - Additional Information (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) customer	Jun. 30, 2023 USD ($)
Disaggregation of Revenue [Line Items]
Number of customers | customer			3
Revenue	$ 13,227,000	$ 0	$ 26,628,000	$ 0
Reserve for uncollectible accounts	0		0
Contract liabilities	$ 24,400,000		$ 24,400,000
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, payment terms			15 days
Revenue, initial pricing billing period			5 days
Maximum
Disaggregation of Revenue [Line Items]
Revenue, payment terms			75 days
Revenue, initial pricing billing period			30 days

REVENUE -Schedule of Disaggrega

REVENUE -Schedule of Disaggregation of Revenue (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Spodumene concentrate sales	$ 13,320,000		$ 26,390,000
Provisional revenue adjustments	(93,000)		238,000
Revenue	$ 13,227,000	$ 0	$ 26,628,000	$ 0

STOCK-BASED COMPENSATION - Addi

STOCK-BASED COMPENSATION - Additional Information (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024 USD ($) shares	Jun. 30, 2023 shares	Jun. 30, 2024 USD ($) shares	Jun. 30, 2023 shares	Mar. 31, 2024 shares	Dec. 31, 2023 shares	Mar. 31, 2023 shares	Dec. 31, 2022 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards cost not yet recognized, amount | $	$ 12.6		$ 12.6
Expected term (in years)	6 years 3 months 18 days	6 years 2 months 12 days
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)			6 years 3 months 18 days	6 years 2 months 12 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
Milestone PRAs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested awards expiring over the next three years (in shares)	20,162		20,162
TSR PRAs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested awards expiring over the next three years (in shares)	280,256		280,256
Assumption of TSR Goal achievement, percent	100%		100%
TSR PRAs | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage of target amount	0%		0%
Expected term (in years)	1 year	1 year	1 year	1 year
TSR PRAs | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage of target amount	200%		200%
Expected term (in years)	3 years	3 years	3 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)	301,000	113,000	301,000	113,000	177,000	86,000	86,000	44,000
Award conversion ratio	1		1
Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards authorized (in shares)	3,000,000		3,000,000
Vesting period			3 years
Expiration period			10 years
Number of common stock available for issuance (in shares)	1,329,600		1,329,600

STOCK-BASED COMPENSATION - Sche

STOCK-BASED COMPENSATION - Schedule of Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	$ 2,720	$ 3,266	$ 4,866	$ 4,437
Stock-based compensation forfeitures	(10)	0	(50)	(5)
Stock-based compensation, net of forfeitures	2,710	3,266	4,816	4,432
Stock-based compensation expense, net of forfeitures	2,573	3,186	4,640	4,311
Capitalized stock-based compensation	137	80	176	121
Stock-based compensation, net of forfeitures	2,710	3,266	4,816	4,432
Exploration costs
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense, net of forfeitures	3	51	8	71
Selling, general and administrative expenses
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense, net of forfeitures	$ 2,570	$ 3,135	$ 4,632	$ 4,240

STOCK-BASED COMPENSATION -Sched

STOCK-BASED COMPENSATION -Schedule of Assumptions Were Used to Estimate the Fair Value of Stock options and Schedule of Share-Based Payment Award, Non-Option Equity Instruments, Valuation Assumptions (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life of options (in years)	6 years 3 months 18 days	6 years 2 months 12 days
Risk-free interest rate	4.30%	3.90%
Assumed volatility	40%	40%		40%
Expected dividend rate	0%	0%	0%	0%
TSR PRAs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	4.80%	4.90%		4.90%
Assumed volatility	50%	60%	50%	60%
Expected dividend rate	0%	0%	0%	0%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life of options (in years)			6 years 3 months 18 days	6 years 2 months 12 days
Risk-free interest rate			4.20%	3.90%
Assumed volatility			35%
Minimum | TSR PRAs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life of options (in years)	1 year	1 year	1 year	1 year
Risk-free interest rate			4.70%
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
Risk-free interest rate			4.30%	4.20%
Assumed volatility			40%
Maximum | TSR PRAs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life of options (in years)	3 years	3 years	3 years	3 years
Risk-free interest rate			4.80%

STOCK-BASED COMPENSATION - Sc_2

STOCK-BASED COMPENSATION - Schedule of Share-Based Payment Arrangement, Activity (Details) - shares shares in Thousands	3 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023
Stock Option Awards
Outstanding at beginning of period (in shares)	450	295	307	265
Granted (in shares)	170	155	30	42
Exercised, surrendered or vested (in shares)	0	0	0	0
Forfeited or expired (in shares)	0	0	0	0
Outstanding at end of period (in shares)	620	450	337	307
Restricted Stock Units
Restricted Stock Units & Performance Rights Awards
Unvested at beginning of period (in shares)	243	80	62	36
Granted (in shares)	117	200	31	40
Exercised, surrendered or vested (in shares)	(5)	(35)	(12)	(13)
Forfeited or expired (in shares)	(2)	(2)	0	(1)
Unvested at end of period (in shares)	353	243	81	62
Performance Rights Awards
Restricted Stock Units & Performance Rights Awards
Unvested at beginning of period (in shares)	177	86	86	44
Granted (in shares)	129	123	27	42
Exercised, surrendered or vested (in shares)	(5)	(32)	0	0
Forfeited or expired (in shares)	0	0	0	0
Unvested at end of period (in shares)	301	177	113	86

OTHER (LOSS) GAIN (Details)

OTHER (LOSS) GAIN (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Other Income and Expenses [Abstract]
Gain on equity securities	$ 210	$ 0	$ 1,594	$ 0
Loss on sale of assets	(656)	0	(656)	0
Gain (loss) from foreign currency exchange	158	(17)	27	(66)
Other (loss) gain	$ (288)	$ (17)	$ 965	$ (66)

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	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Earnings Per Share [Abstract]
Net loss, basic	$ (13,332)	$ (10,639)	$ (36,943)	$ (19,278)
Net loss, diluted	$ (13,332)	$ (10,639)	$ (36,943)	$ (19,278)
Weighted-average number of common shares used in calculating basic earnings per share (in shares)	19,370	19,187	19,348	18,857
Basic net loss per weighted-average share (in dollars per share)	$ (0.69)	$ (0.55)	$ (1.91)	$ (1.02)
Diluted net loss per weighted-average share (in dollars per share)	$ (0.69)	$ (0.55)	$ (1.91)	$ (1.02)

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
	Jun. 30, 2024	Jun. 30, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common shares considered anti-dilutive (in shares)	1,274	531
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common shares considered anti-dilutive (in shares)	620	337
RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common shares considered anti-dilutive (in shares)	353	81
PRAs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common shares considered anti-dilutive (in shares)	301	113

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Operating Loss Carryforwards [Line Items]
Income tax (benefit) expense	$ (2)	$ 649	$ (3,095)	$ 1,142
Loss before taxes	$ 13,334	$ 9,990	$ 40,038	$ 18,136
Effective tax rate	0%	(6.50%)	7.70%	(6.30%)
Gain on partial sale of equity method investment			$ (14,072)
Deferred tax liabilities	$ 0		0		$ 6,023
Sayona Mining
Operating Loss Carryforwards [Line Items]
Gain on partial sale of equity method investment	(17,215)		(17,215)
Investment company, non-cash accumulated gain (loss)			46,300
Current tax payable	3,151		$ 3,151		$ 0
Taxable gain on sale of equity method investment	$ 22,000

EQUITY METHOD INVESTMENTS - Sch

EQUITY METHOD INVESTMENTS - Schedule of Changes in Equity Method Investments (Details) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended			6 Months Ended
	Feb. 29, 2024 $ / shares shares	Jun. 30, 2024 USD ($)	Mar. 31, 2024 USD ($) $ / shares shares	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)
Increase (Decrease) in Equity Method Investment [Roll Forward]
Equity method investments, beginning balance		$ 83,469	$ 147,662	$ 105,396	$ 147,662	$ 95,647
Additional investments		4,918		16,126	14,966	28,218
Gain on dilution of equity method investments					186	7,250
Loss from equity method investments		(4,910)		(2,675)	(10,350)	(5,417)
Foreign currency translation adjustments of equity method investments		(758)		1,218	(448)	(1,658)
Net proceeds from sale of shares					(49,103)	0
Gain on partial sale of equity method investment					(14,072)
Transfer to investments in marketable securities					(6,122)
Equity method investments, ending balance		82,719	83,469	124,040	82,719	124,040
Number of shares sold (in shares) | shares	52,701
Sale of stock, price (in dollars per share) | $ / shares	$ 14.17
Proceeds from sale of shares in equity method investments					49,103	0
Sayona Mining
Increase (Decrease) in Equity Method Investment [Roll Forward]
Equity method investments, beginning balance			59,494	44,188	59,494	44,619
Additional investments				0	0	102
Gain on dilution of equity method investments				3,975	0	7,250
Loss from equity method investments				(1,013)	(2,094)	(2,054)
Foreign currency translation adjustments of equity method investments				133	1,228	(2,634)
Net proceeds from sale of shares			$ (41,400)		(41,413)
Gain on partial sale of equity method investment		(17,215)			(17,215)
Transfer to investments in marketable securities					0
Equity method investments, ending balance		0		47,283	0	47,283
Number of shares sold (in shares) | shares			1,249,806,231
Sale of stock, price (in dollars per share) | $ / shares			$ 0.03
Sale of stock, percentage of total outstanding shares sold			0.12
Proceeds from sale of shares in equity method investments			$ 41,400		41,413
Sayona Mining | Reclassification out of Accumulated Other Comprehensive Income
Increase (Decrease) in Equity Method Investment [Roll Forward]
Gain on partial sale of equity method investment					(3,000)
Sayona Quebec
Increase (Decrease) in Equity Method Investment [Roll Forward]
Equity method investments, beginning balance		81,792	76,552	50,549	76,552	39,763
Additional investments		4,913		16,085	14,961	28,075
Gain on dilution of equity method investments				0	0	0
Loss from equity method investments		(4,860)		(1,335)	(7,933)	(2,604)
Foreign currency translation adjustments of equity method investments		(740)		1,247	(2,475)	1,312
Net proceeds from sale of shares					0
Gain on partial sale of equity method investment					0
Transfer to investments in marketable securities					0
Equity method investments, ending balance		$ 81,105	81,792	66,546	81,105	66,546
Proceeds from sale of shares in equity method investments					$ 0
Equity interest, ownership percentage		25%			25%
Atlantic Lithium
Increase (Decrease) in Equity Method Investment [Roll Forward]
Equity method investments, beginning balance			9,825	10,659	$ 9,825	11,265
Additional investments				41	0	41
Gain on dilution of equity method investments				0	186	0
Loss from equity method investments				(327)	(198)	(759)
Foreign currency translation adjustments of equity method investments				(162)	856	(336)
Net proceeds from sale of shares			$ (7,700)		(7,690)
Gain on partial sale of equity method investment					3,143
Transfer to investments in marketable securities					(6,122)
Equity method investments, ending balance		$ 0		$ 10,211	0	$ 10,211
Number of shares sold (in shares) | shares			24,479,868
Sale of stock, price (in dollars per share) | $ / shares			$ 0.32
Sale of stock, percentage of total outstanding shares sold			0.04
Proceeds from sale of shares in equity method investments			$ 7,700		7,690
Equity interest, ownership percentage			5%
Atlantic Lithium | Reclassification out of Accumulated Other Comprehensive Income
Increase (Decrease) in Equity Method Investment [Roll Forward]
Gain on partial sale of equity method investment					(600)
Vinland Lithium
Increase (Decrease) in Equity Method Investment [Roll Forward]
Equity method investments, beginning balance		1,677	$ 1,791		1,791
Additional investments		5			5
Gain on dilution of equity method investments					0
Loss from equity method investments		(50)			(125)
Foreign currency translation adjustments of equity method investments		(18)			(57)
Net proceeds from sale of shares					0
Gain on partial sale of equity method investment					0
Transfer to investments in marketable securities					0
Equity method investments, ending balance		$ 1,614	$ 1,677		1,614
Proceeds from sale of shares in equity method investments					$ 0
Equity interest, ownership percentage		20%			20%

EQUITY METHOD INVESTMENTS - Add

EQUITY METHOD INVESTMENTS - Additional Information (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024 USD ($) t $ / t	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) t $ / t	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
Schedule of Equity Method Investments [Line Items]
Revenue | $	$ 13,227	$ 0	$ 26,628	$ 0
Affiliated Entity
Schedule of Equity Method Investments [Line Items]
Payables to affiliates | $	$ 81		$ 81		$ 174
Sayona Quebec
Schedule of Equity Method Investments [Line Items]
Long-term supply agreement, spodumene concentrate production | t	113,000		113,000
Long-term supply agreement, spodumene concentrate production, percentage	50%		50%
Long-term supply agreement, floor price (in dollars per Tonne) | $ / t	500		500
Long-term supply agreement, ceiling price (in dollars per Tonne) | $ / t	900		900
Long-term supply agreement, spodumene concentrate percentage	6%		6%
Sayona Mining | Sayona Quebec
Schedule of Equity Method Investments [Line Items]
Noncontrolling interest, ownership percentage by parent	75%		75%
Sayona Quebec | NAL
Schedule of Equity Method Investments [Line Items]
Noncontrolling interest, ownership percentage by parent	100%		100%
Sayona Quebec
Schedule of Equity Method Investments [Line Items]
Equity interest, ownership percentage	25%		25%
Sayona Quebec | NAL
Schedule of Equity Method Investments [Line Items]
Long-term supply agreement, quantities produced (in dmt) | t	49,700		90,100
Long-term supply agreement, quantities shipped (in dmt) | t	27,700		85,700
Long-term supply agreement, quantities sold (in dmt) | t	14,000		29,500
Long-term supply agreement, realized sales price (in dollars per Tonne) | $ / t	945		903
Long-term supply agreement, realized cost of sales (in dollars per Tonne) | $ / t	900		858
Vinland Lithium
Schedule of Equity Method Investments [Line Items]
Equity interest, ownership percentage	20%		20%
Killick Lithium
Schedule of Equity Method Investments [Line Items]
Equity method investment, maximum ownership percentage through phased investments	62.50%		62.50%

EQUITY METHOD INVESTMENTS - Sum

EQUITY METHOD INVESTMENTS - Summarized Financial Information (Details) - USD ($)	3 Months Ended				6 Months Ended		12 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Income Statement [Abstract]
Revenue	$ 13,227,000		$ 0		$ 26,628,000	$ 0
Gross profit	626,000		0		1,317,000	0
Net loss from operations	(13,623,000)		(15,102,000)		(28,299,000)	(27,222,000)
Other comprehensive income (loss), net of tax	(758,000)		1,121,000		(671,000)	(1,092,000)
Net loss	(13,332,000)	$ (23,611,000)	(10,639,000)	$ (8,639,000)	(36,943,000)	(19,278,000)	$ (21,800,000)
Sayona Quebec
Income Statement [Abstract]
Revenue	34,092,000		0		56,982,000	0
Gross profit	(18,120,000)		0		(32,597,000)	0
Net loss from operations	(19,590,000)		(5,340,000)		(34,114,000)	(10,418,000)
Net loss	$ (19,439,000)		$ (5,340,000)		$ (31,729,000)	$ (10,418,000)

ADVANCES TO AFFILIATES - Schedu

ADVANCES TO AFFILIATES - Schedule of Advance to Affiliates (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Related Party Transaction [Line Items]
Advances to affiliates	$ 37,093	$ 28,189
Ewoyaa
Related Party Transaction [Line Items]
Advances to affiliates	34,344	26,378
Killick Lithium
Related Party Transaction [Line Items]
Advances to affiliates	$ 2,749	$ 1,811

ADVANCES TO AFFILIATES - Additi

ADVANCES TO AFFILIATES - Additional Information (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2024 USD ($) phase	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) phase	Jun. 30, 2023 USD ($)	Mar. 31, 2024 USD ($)	Feb. 29, 2024	Dec. 31, 2023 USD ($)	Oct. 31, 2023	Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Related Party Transaction [Line Items]
Equity method investments	$ 82,719,000	$ 124,040,000	$ 82,719,000	$ 124,040,000	$ 83,469,000		$ 147,662,000		$ 105,396,000	$ 95,647,000
Payments to acquire equity interest	$ 4,918,000	16,126,000	$ 14,966,000	28,218,000
Ghana Project
Related Party Transaction [Line Items]
Strategic partnership investments, percentage expected	50%		50%
Strategic partnership investments, number of phases | phase	2		2
Equity method investments	$ 0		$ 0
Killick Lithium
Related Party Transaction [Line Items]
Strategic partnership investments, percentage expected								100%
Equity method investment, maximum ownership percentage through phased investments	62.50%		62.50%
Payments to acquire equity interest	$ 200,000		$ 900,000
Equity method investment, products percentage, expected								100%
Killick Lithium | Maximum
Related Party Transaction [Line Items]
Equity interest, ownership percentage						62.50%		62.50%
Ghana Project, Phase One
Related Party Transaction [Line Items]
Strategic partnership investments, percentage expected	22.50%		22.50%
Ghana Project, Phase Two
Related Party Transaction [Line Items]
Strategic partnership investments, percentage expected	27.50%		27.50%
Strategic partnership investments, funding amount	$ 70,000,000		$ 70,000,000
Ewoyaa
Related Party Transaction [Line Items]
Strategic partnership investments, percentage expected	81%		81%
Payments to acquire equity interest	$ 3,000,000	$ 3,900,000	$ 8,000,000	$ 4,700,000
Equity interest, ownership percentage	40.50%		40.50%

OTHER ASSETS AND LIABILITIES -

OTHER ASSETS AND LIABILITIES - Schedule of Other Current Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Marketable securities	$ 8,025	$ 0
Prepaid and other current assets	3,133	3,345
Equity securities	237	484
Total other current assets	$ 11,395	$ 3,829

OTHER ASSETS AND LIABILITIES _2

OTHER ASSETS AND LIABILITIES - Additional Information (Details) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2024 USD ($)
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Gain on marketable securities	$ 200	$ 1,800
Unrealized loss equity securities	$ 0	200
Financing agreement maturity period	8 months
Financing payments	$ 2,100
Financing annual rate	8.20%
Line of credit facility, fair value of amount outstanding	$ 1,600	1,600
Interest Expense, Long-Term Debt	$ 11	$ 11

OTHER ASSETS AND LIABILITIES _3

OTHER ASSETS AND LIABILITIES - Schedule of Other Non-current Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Operating lease right-of-use assets	$ 1,162	$ 1,371
Asset retirement obligation, net (Note 15)	400	414
Other non-current assets	303	379
Total other non-current assets	1,865	2,164
Asset retirement obligation, accumulated amortization	$ 21	$ 7

OTHER ASSETS AND LIABILITIES _4

OTHER ASSETS AND LIABILITIES - Schedule of Other Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Financed insurance premiums	$ 1,599	$ 0
Operating lease liabilities	303	312
Accrued provisional revenue adjustment	0	29,151
Total other current liabilities	$ 5,053	$ 29,463

EQUITY (Details)

EQUITY (Details) - USD ($)	1 Months Ended
	Feb. 29, 2024	Feb. 28, 2023	Jun. 30, 2024	May 24, 2024	Dec. 31, 2023	Oct. 31, 2023
Class of Stock [Line Items]
Common stock, shares authorized (in shares)			100,000,000		100,000,000
Common stock, par value (in dollars per share)			$ 0.0001		$ 0.0001
Preferred stock, shares authorized (in shares)			10,000,000
Preferred stock, par value (in dollars per share)			$ 0.0001
Preferred stock, shares outstanding (in shares)			0
Share Repurchase Program, Authorized, Amount				$ 50,000,000
Number of shares sold (in shares)	52,701
Sale of stock, price (in dollars per share)	$ 14.17
Stock issuance costs	$ 0
Shelf Registration Program
Class of Stock [Line Items]
Remaining offering capacity			$ 500,000,000
LG Chem
Class of Stock [Line Items]
Number of shares sold (in shares)		1,096,535
Sale of stock, price (in dollars per share)		$ 68.40
Stock issuance costs		$ 3,900,000
Proceeds from sale of stock		$ 75,000,000
Maximum | Killick Lithium
Class of Stock [Line Items]
Equity interest, ownership percentage	62.50%					62.50%

SEGMENT REPORTING (Details)

SEGMENT REPORTING (Details)	6 Months Ended
	Jun. 30, 2024 segment
Segment Reporting [Abstract]
Number of reportable segments	1

FAIR VALUE OF FINANCIAL INSTR_2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Long-term debt	$ 2,700	$ 200
Investments in marketable and equity securities	8,300	500
Fair value of equity investments	8,000
Equity securities	$ 237	$ 484

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) $ in Millions	Jun. 06, 2024 petitioner	Dec. 31, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Number of petitioners | petitioner	4
Asset retirement obligation | $		$ 0.4

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Subsequent Event [Line Items]
Assets	$ 339,640	$ 381,255
Tennessee Lithium
Subsequent Event [Line Items]
Assets	34,500
Disposal Group, Held-for-Sale, Not Discontinued Operations
Subsequent Event [Line Items]
Disposal group, including discontinued operation, property, plant and equipment	$ 2,600