12 July 2024
Ewoyaa Lithium Project Update
Atlantic Lithium Limited (AIM: ALL, ASX: A11, GSE: ALLGH, OTCQX: ALLIF, "Atlantic Lithium" or the "Company"), the African-focused lithium exploration and development company targeting to deliver Ghana's first lithium mine, provides the following update regarding the latest developments relating to the Ewoyaa Lithium Project ("Ewoyaa" or the "Project").
The Company is pleased to confirm that the application for the grant of the Mining Lease in respect of the Project has been submitted to the Ghanaian parliament. The necessary parliamentary process is now underway for parliament to ratify the Mining Lease.
Additionally, following the Company's cooperation with the Minerals Commission's investigation into the tragic incident that occurred at the Project site on Tuesday, 9 July 2024, which was led by the Chief Inspector of Mines, the site has been released back to Atlantic Lithium and operations have been authorised to recommence. The Company is taking a steady approach to resuming operations since the incident, ensuring alignment with the recommendations made by the Minerals Commission. Our thoughts remain with the family and friends of our teammate, and we continue to offer our full support to all those affected.
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.
For any further information, please contact:
Atlantic Lithium Limited
Neil Herbert (Executive Chairman)
Amanda Harsas (Finance Director and Company Secretary)
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| www.atlanticlithium.com.au | |||
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| IR@atlanticlithium.com.au | |||
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| Tel: +61 2 8072 0640 | |||
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SP Angel Corporate Finance LLP Nominated Adviser Jeff Keating Charlie Bouverat Tel: +44 (0)20 3470 0470 |
Yellow Jersey PR Limited Charles Goodwin Bessie Elliot Tel: +44 (0)20 3004 9512
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Canaccord Genuity Limited Financial Adviser: Raj Khatri (UK) / Duncan St John, Christian Calabrese (Australia)
Corporate Broking: James Asensio Tel: +44 (0) 20 7523 4500 |
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Notes to Editors:
About Atlantic Lithium
Atlantic Lithium is an AIM, ASX, GSE and OTCQX-listed lithium company advancing its flagship project, the Ewoyaa Lithium Project, a significant lithium spodumene pegmatite discovery in Ghana, through to production to become the country's first lithium-producing mine.
The Definitive Feasibility Study for the Project indicates the production of 3.6Mt of spodumene concentrate over a 12-year mine life, making it one of the largest spodumene concentrate mines in the world.
The Project, which was awarded a Mining Lease in October 2023, is being developed under an earn-in agreement with Piedmont Lithium Inc.
Atlantic Lithium holds a portfolio of lithium projects within 509km2 and 774km2 of granted and under-application tenure across Ghana and Côte d'Ivoire respectively, which, in addition to the Project, comprises significantly under-explored, highly prospective licences.
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