GCINeil Herbert of Atlantic Lithium: Activity this Quarter shows a Remarkable Period of Progress
Neil Herbert, Executive Chairman of discusses activities during the quarter, which he describes as a remarkable period of progress, which included the award of a Mining Lease for the Ewoyaa Lithium Project. He said it represents the Government's belief in the Company as its partner of choice in its long-term lithium production objectives and sets Ewoyaa on a path to become one of the next major hard rock spodumene mines.
Highlights from the Reporting Period:
- Commitment from partner Piedmont Lithium to sole fund the first US$70m, and 50% of any additional costs thereafter, of the total US$185m development expenditure indicated in the Definitive Feasibility Study ("DFS") for the Company's flagship Ewoyaa Lithium Project ("Ewoyaa" or the "Project") in Ghana, comprising the proposed Ewoyaa Lithium Mine and Processing Plant.
- Planned investment of a total US$32.9m (A$51.4m / £26.3m) by the Minerals Income Investment Fund of Ghana ("MIIF") in the Company and its Ghanaian subsidiaries to expedite the development of the Project.
- Commenced competitive offtake partnering process to secure Project funding for a portion of the remaining 50% available feedstock from Ewoyaa.
Post-period end
- Mining Lease granted for the Ewoyaa Lithium Project, representing a major de-risking milestone for the Project.
- Agreed terms maintain Ewoyaa's position as one of the lowest capital and operating cost hard rock lithium projects globally.
Disclaimer & Declaration of Interest
The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.