A$7 Million Fairness Putting to Give a contribution to the Investment of the Ewoyaa Lithium Challenge


Evaluation

In spite of its lengthy mining historical past, beneficial regulatory local weather and strong political backdrop, Ghana stays in large part overpassed as an funding jurisdiction for battery metals. Positioned at the West African coast, the rustic boasts a robust strategic location and abundance of mineral wealth.

In 2023, the rustic reclaimed its identify as Africa’s primary manufacturer of gold. And gold is not the one treasured steel to be discovered within the nation. Ghana could also be house to important lithium reserves, with c. 180,000 tonnes of estimated sources.

Positioned between Europe, the USA and China, Ghana is completely situated to function a very powerful hub for the worldwide provide of the battery steel.

Building Ghana's First Lithium Mine

Australian lithium exploration and construction corporate Atlantic Lithium (ASX:A11, AIM:ALL, OTCQX:ALLIF) intends to leverage this chance via its flagship Ewoyaa challenge, set to turn into Ghana’s first lithium-producing mine. Atlantic intends to supply spodumene listen able to conversion to lithium hydroxide and carbonate to be used in electrical car batteries, serving to force the transition to decarbonisation.

A definitive feasibility learn about (DFS) launched in June 2023 displays that, taking into account its present 35.3 million heaps (Mt) @ 1.22 p.c lithium oxide JORC Mineral Useful resource Estimate and conservative life-of-mine listen pricing of US$1,587/t, FOB Ghana Port, Ewoyaa has demonstrable financial viability, low capital depth and superb profitability. Via easy open-pit mining, three-stage crushing and traditional Dense Media Separation (DMS) processing, the DFS outlines the manufacturing of three.6 Mt of spodumene listen over a 12-year mine existence, handing over US$6.6 billion life-of-mine revenues, a post-tax NPV8 of US$1.5 billion and an interior price of go back of 105 p.c.

Atlantic Lithium

Atlantic Lithium intends to deploy a Modular DMS plant forward of setting out operations on the large-scale primary plant to generate early income, which can scale back the height investment requirement of the primary plant. The challenge is predicted to ship first spodumene manufacturing as early as April 2025.

The improvement of the challenge is co-funded below an settlement with NASDAQ and ASX-listed Piedmont Lithium (ASX:PLL), with Piedmont anticipated to fund c. 70 p.c of the USA$185 million overall capex. According to the settlement, Piedmont is investment US$17 million against research and exploration and an preliminary US$70 million against the overall capex. Prices are cut up similarly between Atlantic Lithium and Piedmont thereafter.

In go back, Piedmont will obtain 50 p.c of the spodumene listen produced at Ewoyaa, offering a path to shoppers via a number of main battery producers, together with Tesla. With 50 p.c of its offtake nonetheless to be had, Atlantic Lithium is one among only a few near-term spodumene listen manufacturers with uncommitted offtake.

Concentrate Production

Already the most important taxpayer and employer in Ghana’s Central Area, Atlantic Lithium is predicted to offer direct employment to more or less 800 staff at Ewoyaa and, via its neighborhood construction fund wherein 1 p.c of retained profits might be allotted to native projects, will ship long-lasting advantages to the area and to Ghana.

Atlantic Lithium additionally has the prospective to capitalise upon substantial further upside throughout its intensive exploration portfolio — doable it intends to leverage to the fullest because it turns into an early mover in West African lithium manufacturing.

Ewoyaa

Set to be Ghana’s first lithium-producing mine, Atlantic Lithium’s flagship Ewoyaa Challenge is located inside of 110 kilometres of Takoradi Port and 100 kilometres of Accra, with get admission to to superb infrastructure and a talented native personnel. A definitive feasibility learn about (DFS) launched in June 2023 showed the challenge’s financial viability and profitability doable, indicating a three.6-Mt spodumene listen manufacturing over the mine’s 12-year projected existence.

Atlantic Lithium is lately within the means of securing a mining rent for the challenge, which can allow the graduation of the allowing procedure. During the deployment of a Modular DMS plant, which can procedure 450,000 heaps of ore as the primary 2.7-Mt processing plant is being built, the mine is predicted to ship first manufacturing in 2025.

u200bCu00f4te d'Ivoire

Atlantic Lithium lately has two programs pending for a space of more or less 774 sq. kilometres within the West African nation of Côte d’Ivoire. The underexplored but extremely potential area is understood to be underlain through prolific birimian greenstone belts, characterized through fractionated granitic intrusive centres with lithium and colombite-tantalum occurrences and outcropping pegmatites. The world could also be extremely well-served, with intensive street infrastructure, well-established mobile community and high-voltage transmission line inside of more or less 100 kilometres of the rustic’s capital, Abidjan.

Control Staff

Neil Herbert – Govt Chairman

Neil Herbert is a fellow of the Affiliation of Chartered Qualified Accountants and has over 30 years of revel in in finance. He has been focused on rising mining and oil and fuel firms each as an govt and as an investor for over 25 years. Till Might 2013, he was once co-chairman and managing director of AIM-quoted Polo Assets, a herbal sources funding corporate.

Previous to this, Herbert was once a director of useful resource funding corporate Galahad Gold, and then he changed into finance director of its maximum a success funding, the start-up uranium corporate UraMin, from 2005 to 2007. Right through this era, he labored to waft the corporate on AIM and the Toronto Inventory Change in 2006, elevate US$400 million in fairness financing and negotiate the sale of the gang for US$2.5 billion.

Herbert has held board positions at plenty of useful resource firms the place he has been focused on managing a lot of acquisitions, disposals, inventory marketplace listings and fundraisings. He holds a joint honours level in economics and financial historical past from the College of Leicester.

Keith Muller – Leader Govt Officer

Keith Muller is a mining engineer with over twenty years of operational and management revel in throughout home and world mining, together with within the lithium sector. He has a robust operational background in exhausting rock lithium mining and processing, in particular in DMS spodumene processing. Earlier than becoming a member of Atlantic Lithium, he held roles as each a trade chief and basic supervisor at Allkem, the place he labored at the Mt Cattlin lithium mine in Western Australia.

Previous to that, Muller served as operations supervisor and senior mining engineer at Simec. He holds a Grasp of Mining Engineering from the College of New South Wales and a Bachelor of Engineering from the College of Pretoria. He’s additionally a member of the Australian Institute of Mining and Metallurgy, the Board of Skilled Engineers of Queensland, and the Engineering Council of South Africa.

Amanda Harsas – Finance Director and Corporate Secretary

Amanda Harsas is a senior finance govt with a demonstrable monitor report and over 25 years’ revel in in strategic finance, trade transformation, industrial finance, buyer and provider negotiations and capital control. Previous to becoming a member of Atlantic Lithium, she labored throughout a number of sectors together with healthcare, insurance coverage, retail {and professional} services and products. Harsas is a chartered accountant, holds a Bachelor of Trade and has world revel in in Asia, Europe and the USA.

Len Kolff – Head of Trade Construction and Leader Geologist

Len Kolff has over 25 years of mining trade revel in within the main and junior sources sector. With a confirmed monitor report in deposit discovery and a specific center of attention on Africa, Kolff maximum not too long ago labored in West Africa and was once instrumental within the discovery and analysis of the corporate’s Ewoyaa Lithium Challenge in Ghana, in addition to the invention and analysis of the Mofe Creek iron ore challenge in Liberia. Previous to this, he labored at Rio Tinto with a focal point on Africa, together with the Simandou iron ore challenge in Guinea and the Northparkes Copper-Gold mine in Australia.

Kolff holds a Grasp of Financial Geology from CODES, College of Tasmania and a Bachelor of Science (Honours) level from the Royal Faculty of Mines, Imperial School, London.

Patrick Brindle – Non-executive Director

Patrick Brindle lately serves as govt vice-president and leader running officer at Piedmont Lithium. He joined Piedmont in January 2018. Previous to this, he held roles as vice-president of challenge control and due to this fact as leader construction officer.

Brindle has greater than twenty years’ revel in in senior control and engineering roles and has finished EPC initiatives in numerous jurisdictions together with the USA, Canada, China, Mongolia, Australia and Brazil. Earlier than becoming a member of Piedmont, he was once vice-president of engineering for DRA Taggart, a subsidiary of DRA World, an engineering company specialising in challenge supply of mining and mineral processing initiatives globally.

Kieran Daly – Non-executive Director

Kieran Daly is the manager of expansion and strategic construction at Assore. He holds a BSc Mining Engineering from Camborne Faculty of Mines (1991) and an MBA from Wits Trade Faculty (2001) and labored in funding banking/fairness analysis for greater than 10 years at UBS, Macquarie and Investec previous to becoming a member of Assore in 2018.

Daly spent the primary 15 years of his mining profession at Anglo American’s coal department (Anglo Coal) in plenty of world roles together with operations, gross sales and advertising, technique and trade construction. Amongst his key roles have been main and creating Anglo Coal’s advertising efforts in Asia and to metal trade consumers globally. He was once additionally the worldwide head of technique for Anglo Coal instantly previous to leaving Anglo in 2007.

Christelle Van Der Merwe – Non-executive Director

Christelle Van Der Merwe is a mining geologist chargeable for the mining-related geology and sources of Assore’s subsidiary firms (comprising the pyrophyllite and chromite mines) and could also be interested by the corporate’s iron and manganese mines. She has been the Assore workforce geologist since 2013 and concerned with strategic and useful resource funding choices of the corporate. Van Der Merwe is a member of SACNASP and the GSSA.

Aaron Maurer – Head of Operational Readiness

Aaron Maurer is a senior-level trade govt with over 25 years’ world multi-commodity mining revel in, overseeing strategic, operational and fiscal efficiency. Over his profession, he has held a number of engineering, manufacturing, operational and senior govt roles. Earlier than becoming a member of Atlantic Lithium, he served as govt basic supervisor – operations at Minerals Assets, the place he oversaw the Mt Marion Lithium mine and 3 iron ore mines in Western Australia. He was once prior to now the managing director and CEO of PVW Assets and basic supervisor (web site senior govt) at Peabody Power Australia.

His important experience spans the improvement and implementation of protection and cost-saving projects, exchange control, strategic making plans, trade construction and worker construction. Maurer holds a Grasp in Company Finance and a Bachelor of Engineering (Mining).

Roux Terblanche – Challenge Supervisor

Roux Terblanche is a mineral useful resource challenge supply specialist with confirmed African and Australian revel in operating for homeowners, EPCMs, specialists and contractors. He has quite a lot of commodity reports, together with lithium, gold, copper, diamonds and platinum. He has confirmed so as to add worth and ship initiatives safely, on time and inside of finances.

Terblanche has labored within the UAE and throughout Africa, together with Ghana, the DRC, Burkina Faso, Zambia, Rwanda, Botswana and Senegal. He was once instrumental in expanding the running footprint of a world building corporate throughout Africa and was once integral to the development of the Akyem, Tarkwa Segment 4 and Chirano mines in Ghana.

Terblanche holds a countrywide degree in mechanical engineering, a degree in challenge control and a Bachelor of Trade from the College of South Africa.

Iwan Williams – Exploration Supervisor

Iwan Williams is an exploration geologist with over twenty years’ revel in throughout a huge vary of commodities, mainly iron ore, manganese, gold, copper (porphyry and sed. hosted), PGE’s, nickel and different base metals, in addition to chromitite, phosphates, coal and diamond.

Williams has intensive southern and west African revel in and has labored in Central and South The us. His revel in comprises all facets of exploration control, challenge era, alternative evaluations, due diligence and mine geology. He has intensive research revel in having participated within the supply of more than one challenge research together with useful resource, mine design standards, baseline environmental and social research and metallurgical test-work programmes. He’s very accustomed to operating in Africa having spent 23 years of his 28-year geological profession in Africa. Williams is a graduate of the College of Liverpool.

Abdul Razak – Nation Supervisor

Abdul Razak has intensive exploration, useful resource analysis and challenge control revel in all through West Africa with a robust center of attention on data-rich environments. He has intensive gold revel in having labored all through Ghana with AngloGold Ashanti, Goldfields Ghana, Perseus and Golden Celebrity, in addition to world exploration and useful resource analysis revel in in Burkina Faso, Liberia, Ivory Coast, Republic of Congo, Nigeria and Guinea.

Razak is an integral member of the workforce, managing all web site actions together with drilling, laboratory, native groups, geotech and hydro, neighborhood consultations and stakeholder engagements and was once instrumental in established order of the present construction workforce and defining Ghana’s maiden lithium useful resource estimate. He’s primarily based on the challenge web site in Ghana.





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