Piedmont Lithium Inc.

Halal Rating :
Comfortable
Last Price $8.3
Market Cap $161.62m
1D Change

-0.6 %

1 Year Change

-39.74 %

Next Earnings Date

Yet to be announced

Company Overview

Piedmont Lithium Inc. is a development-stage company focused on the production of lithium hydroxide to supply the electric vehicle and battery storage markets. The company is developing lithium projects in North Carolina, Quebec, and Ghana. Their business model centers on sustainable lithium mining and processing operations to support the clean energy transition.

Revenue Sources

Pass

Piedmont Lithium's revenue comes from lithium mining and processing operations. These activities are halal as they involve the extraction and processing of natural resources for legitimate industrial use. The company is still in development stage with inconsistent revenue generation, but their planned revenue sources are all permissible under Islamic finance principles.

Reliance on Interest

Reporting Date Total Revenue Total Expense Interest Income Interest Expense Interest Income Ratio Interest Expense Ratio
June 30, 2024 $13.23m $26.93m - $76,000 0.00% 0.28%
March 31, 2024 $13.4m $28.3m - $222,000 0.00% 0.78%
Dec. 31, 2023 $-7,300,000.0 $17.15m - $5,000 0.00% 0.03%

The company is still in development phase and not yet in full commercial operations. Their interest expenses over the past four quarters have been relatively small compared to total expenses. However, since the company is pre-revenue and still in development stage, the interest ratio test is not applicable at this time.

Operational Ethics

Pass

Based on review of company disclosures and operations, Piedmont Lithium's primary operations are in the United States, Canada, and Ghana. There is no evidence of material ongoing relationships with entities involved in human rights violations.

Rating Justification

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Comments

1 Comments

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E eggyboffer89 | 5 months, 1 week ago

musaffa has this as over 5% now on interest income

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