Piedmont Partner Atlantic Lithium Completes PFS

Rhea-AI Summary

Atlantic Lithium has completed a Pre-Feasibility Study (PFS) for the Ewoyaa Lithium Project in Ghana, aiming to establish the country’s first lithium mine. The study indicates potential Life of Mine revenues exceeding US$4.84 billion from spodumene concentrate production. The project is backed by Piedmont Lithium with a funding agreement of US$103 million. Atlantic Lithium holds extensive mineral licenses across Ghana and Côte d'Ivoire, comprising over 1,300 km² of highly prospective land.

Positive

• Completion of Pre-Feasibility Study for the Ewoyaa Lithium Project.
• Projected Life of Mine revenues exceed US$4.84 billion.
• Funding agreement with Piedmont Lithium for US$103 million secured.

Negative

• None.

Piedmont Lithium partner Atlantic Lithium completes Prefeasibility Study for Ghana Project

SYDNEY, AUSTRALIA / ACCESSWIRE / September 28, 2022 / Atlantic Lithium Limited (AIM:ALL)(ASX:A11)(OTCQX:ALLIF) "Atlantic Lithium" or the "Company"), the funded African-focussed lithium exploration and development company targeting to deliver Ghana's first lithium mine, is pleased to highlight our partner Piedmont Lithium's ASX release today regarding our recently announced a Pre-Feasibility Study for the Ewoyaa Lithium Project in Ghana (refer RNS of 22 September 2022).

Piedmont Lithium's ASX release can be viewed and is available via this link:
http://www.rns-pdf.londonstockexchange.com/rns/9790A_1-2022-9-28.pdf

For any further information, please contact:

Atlantic Lithium Limited Neil Herbert (Executive Chairman) Amanda Harsas (Finance Director and Company Secretary) www.atlanticlithium.com.au	Tel: +61 2 8072 0640
atlantic@yellowjerseypr.com
SP Angel Corporate Finance LLP Nominated Adviser Jeff Keating Charlie Bouverat	Tel: +44 (0)20 3470 0470
Canaccord Genuity Limited Joint Company Broker Raj Khatri James Asensio Harry Rees	Tel: +44 (0) 20 7523 4500
Liberum Capital Limited Joint Company Broker Scott Mathieson Edward Thomas Kane Collings	Tel: +44 (0) 20 3100 2000
SI Capital Limited Joint Company Broker Nick Emerson Jon Levinson	Tel: +44 (0) 1483 413 500 Tel: +44 (0) 207 871 4038
Yellow Jersey PR Limited Henry Wilkinson Dominic Barretto James Lingfield	Tel: +44 (0)20 3004 9512

Notes to Editors:

About Atlantic Lithium
www.atlanticlithium.com.au

Atlantic Lithium (formerly "IronRidge Resources") is an AIM and ASX-listed lithium exploration and development company advancing a portfolio of lithium projects and licenses in Ghana and Côte d'Ivoire through to production.

The Company's flagship project, the Ewoyaa Project in Ghana, is a significant lithium spodumene pegmatite discovery on track to become Ghana's first lithium producing mine. The Company signed a funding agreement with Piedmont Lithium Inc. for US$103m towards the development of the Ewoyaa Project. Based on the Pre-Feasibility Study, the Ewoyaa Project has indicated Life of Mine revenues exceeding US$4.84bn, producing a spodumene concentrate via simple gravity only process flowsheet.

Atlantic Lithium holds a 560km² & 774km² tenure across Ghana and Côte d'Ivoire respectively, comprising significantly under-explored, highly prospective licenses.

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: Atlantic Lithium Limited

View source version on accesswire.com:
https://www.accesswire.com/717788/Piedmont-Partner-Atlantic-Lithium-Completes-PFS

FAQ

What is the significance of the Pre-Feasibility Study for Atlantic Lithium and the stock symbol ALLIF?

The Pre-Feasibility Study for the Ewoyaa Lithium Project indicates significant potential revenues, which can positively impact investor confidence and the stock symbol ALLIF.

How much funding has Atlantic Lithium received for the Ewoyaa Lithium Project?

Atlantic Lithium has secured US$103 million in funding from Piedmont Lithium for the Ewoyaa Lithium Project.

What is the estimated revenue from the Ewoyaa Lithium Project according to the Pre-Feasibility Study?

The Pre-Feasibility Study estimates Life of Mine revenues of over US$4.84 billion from the Ewoyaa Lithium Project.

Where are Atlantic Lithium's exploration tenures located?

Atlantic Lithium holds exploration tenures across Ghana and Côte d'Ivoire, covering over 1,300 km² of land.