Extra Remarkable Metallurgical Effects from McDermitt

Evaluation

In spite of its lengthy mining historical past, beneficial regulatory local weather and solid 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 powerful strategic location and abundance of mineral wealth.

In 2023, the rustic reclaimed its name 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 assets.

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

Australian lithium exploration and building corporate Atlantic Lithium (ASX:A11, AIM:ALL, OTCQX:ALLIF) intends to leverage this chance thru its flagship Ewoyaa venture, set to change into Ghana’s first lithium-producing mine. Atlantic intends to provide spodumene pay attention able to conversion to lithium hydroxide and carbonate to be used in electrical car batteries, serving to power the transition to decarbonisation.

A definitive feasibility learn about (DFS) launched in June 2023 displays that, bearing in mind its present 35.3 million heaps (Mt) @ 1.22 % lithium oxide JORC Mineral Useful resource Estimate and conservative life-of-mine pay attention pricing of US$1,587/t, FOB Ghana Port, Ewoyaa has demonstrable financial viability, low capital depth and superb profitability. Thru 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 pay attention over a 12-year mine lifestyles, handing over US$6.6 billion life-of-mine revenues, a post-tax NPV8 of US$1.5 billion and an inside charge of go back of 105 %.

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

The advance of the venture is co-funded below an settlement with NASDAQ and ASX-listed Piedmont Lithium (ASX:PLL), with Piedmont anticipated to fund c. 70 % of america$185 million general capex. According to the settlement, Piedmont is investment US$17 million against research and exploration and an preliminary US$70 million against the entire capex. Prices are break up similarly between Atlantic Lithium and Piedmont thereafter.

In go back, Piedmont will obtain 50 % of the spodumene pay attention produced at Ewoyaa, offering a path to customers thru a number of main battery producers, together with Tesla. With 50 % of its offtake nonetheless to be had, Atlantic Lithium is considered one of only a few near-term spodumene pay attention manufacturers with uncommitted offtake.

Already the most important taxpayer and employer in Ghana’s Central Area, Atlantic Lithium is anticipated to supply direct employment to more or less 800 staff at Ewoyaa and, thru its neighborhood building fund wherein 1 % of retained income shall 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 — attainable it intends to leverage to the fullest because it turns into an early mover in West African lithium manufacturing.

Set to be Ghana’s first lithium-producing mine, Atlantic Lithium’s flagship Ewoyaa Mission is positioned inside 110 kilometres of Takoradi Port and 100 kilometres of Accra, with get entry to to superb infrastructure and a talented native staff. A definitive feasibility learn about (DFS) launched in June 2023 showed the venture’s financial viability and profitability attainable, indicating a three.6-Mt spodumene pay attention manufacturing over the mine’s 12-year projected lifestyles.

Atlantic Lithium is recently within the strategy of securing a mining hire for the venture, which can permit the graduation of the allowing procedure. Throughout the deployment of a Modular DMS plant, which can procedure 450,000 heaps of ore as the principle 2.7-Mt processing plant is being built, the mine is anticipated to ship first manufacturing in 2025.

Atlantic Lithium recently has two packages 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 via prolific birimian greenstone belts, characterized via fractionated granitic intrusive centres with lithium and colombite-tantalum occurrences and outcropping pegmatites. The world could also be extremely well-served, with intensive highway infrastructure, well-established cell community and high-voltage transmission line inside more or less 100 kilometres of the rustic’s capital, Abidjan.

Control Crew

Neil Herbert – Government Chairman

Neil Herbert is a fellow of the Affiliation of Chartered Qualified Accountants and has over 30 years of enjoy in finance. He has been enthusiastic about rising mining and oil and fuel corporations each as an government and as an investor for over 25 years. Till Would possibly 2013, he used to be co-chairman and managing director of AIM-quoted Polo Sources, a herbal assets funding corporate.

Previous to this, Herbert used to be 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. All through this era, he labored to flow the corporate on AIM and the Toronto Inventory Alternate 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 quite a few useful resource corporations the place he has been enthusiastic about managing a large number 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 Government Officer

Keith Muller is a mining engineer with over twenty years of operational and management enjoy throughout home and world mining, together with within the lithium sector. He has a powerful operational background in exhausting rock lithium mining and processing, specifically in DMS spodumene processing. Prior to becoming a member of Atlantic Lithium, he held roles as each a trade chief and common 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 government with a demonstrable monitor document and over 25 years’ enjoy in strategic finance, trade transformation, business 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} products and services. Harsas is a chartered accountant, holds a Bachelor of Trade and has world enjoy in Asia, Europe and america.

Len Kolff – Head of Trade Construction and Leader Geologist

Len Kolff has over 25 years of mining business enjoy within the main and junior assets sector. With a confirmed monitor document in deposit discovery and a selected focal point on Africa, Kolff maximum not too long ago labored in West Africa and used to be instrumental within the discovery and analysis of the corporate’s Ewoyaa Lithium Mission in Ghana, in addition to the invention and analysis of the Mofe Creek iron ore venture in Liberia. Previous to this, he labored at Rio Tinto with a focal point on Africa, together with the Simandou iron ore venture 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 recently serves as government 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 venture control and due to this fact as leader building officer.

Brindle has greater than twenty years’ enjoy in senior control and engineering roles and has finished EPC initiatives in various jurisdictions together with america, Canada, China, Mongolia, Australia and Brazil. Prior to becoming a member of Piedmont, he used to be vice-president of engineering for DRA Taggart, a subsidiary of DRA World, an engineering company specialising in venture supply of mining and mineral processing initiatives globally.

Kieran Daly – Non-executive Director

Kieran Daly is the manager of enlargement and strategic building 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 occupation at Anglo American’s coal department (Anglo Coal) in quite a few world roles together with operations, gross sales and advertising, technique and trade building. Amongst his key roles had been main and growing Anglo Coal’s advertising efforts in Asia and to metal business consumers globally. He used to be additionally the worldwide head of technique for Anglo Coal right away previous to leaving Anglo in 2007.

Christelle Van Der Merwe – Non-executive Director

Christelle Van Der Merwe is a mining geologist answerable for the mining-related geology and assets of Assore’s subsidiary corporations (comprising the pyrophyllite and chromite mines) and could also be excited about the corporate’s iron and manganese mines. She has been the Assore staff 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.

Jonathan Henry – Impartial Non-executive Director

Jonathan Henry is a senior government with important, world indexed corporate enjoy, basically within the mining business, having held more than a few management and board roles for just about 20 years. Henry is recently the non-executive chair of Toronto Project Alternate-listed (TSX-V) Giyani Metals. He has been closely concerned within the strategic control and management of initiatives towards manufacturing, commercialisation and, in the long run, the realisation of shareholder price. He has won important enjoy running throughout capital markets, trade building, venture financing, key stakeholder engagement (together with public and investor family members), and the reporting and implementation of ESG-focused projects.
Henry used to be the manager chair and non-executive director at Euronext Expansion and AIM-listed Ormonde Mining, non-executive director at TSX-V-listed Ashanti Gold, president, director and CEO at TSX-listed Gabriel Sources and more than a few roles, together with CEO and managing director, at London and Oslo Inventory Alternate-listed Avocet Mining PLC.

Aaron Maurer – Head of Operational Readiness

Aaron Maurer is a senior-level trade government with over 25 years’ world multi-commodity mining enjoy, overseeing strategic, operational and monetary efficiency. Over his occupation, he has held a number of engineering, manufacturing, operational and senior government roles. Prior to becoming a member of Atlantic Lithium, he served as government common supervisor – operations at Minerals Sources, the place he oversaw the Mt Marion Lithium mine and 3 iron ore mines in Western Australia. He used to be up to now the managing director and CEO of PVW Sources and common supervisor (web site senior government) at Peabody Power Australia.

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

Roux Terblanche – Mission Supervisor

Roux Terblanche is a mineral useful resource venture supply specialist with confirmed African and Australian enjoy running for house owners, EPCMs, experts 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 price and ship initiatives safely, on time and inside funds.

Terblanche has labored within the UAE and throughout Africa, together with Ghana, the DRC, Burkina Faso, Zambia, Rwanda, Botswana and Senegal. He used to be instrumental in expanding the running footprint of a world building corporate throughout Africa and used to be 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 venture 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’ enjoy throughout a extensive 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 enjoy and has labored in Central and South The united states. His enjoy contains all sides of exploration control, venture era, alternative evaluations, due diligence and mine geology. He has intensive research enjoy having participated within the supply of a couple of venture research together with useful resource, mine design standards, baseline environmental and social research and metallurgical test-work programmes. He’s very conversant in running in Africa having spent 23 years of his 28-year geological occupation in Africa. Williams is a graduate of the College of Liverpool.

Abdul Razak – Nation Supervisor

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

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