REG - Atlantic Lithium Ltd - Grant of Mine Operating Permit

Atlantic LithiumAnnouncement

08/10/2024 07:00

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RNS Number : 3283H  Atlantic Lithium Limited  08 October 2024

08 October 2024

Grant of Mine Operating Permit

Ewoyaa Lithium Project granted final regulatory approval in the permitting process for the Project

Atlantic Lithium Limited (AIM: ALL, ASX: A11, GSE: ALLGH, OTCQX: ALLIF,
"Atlantic Lithium" or the "Company"), the Africa-focused lithium exploration
and development company targeting the delivery of Ghana's first lithium mine,
is pleased to announce that the Minerals Commission of Ghana has issued a Mine
Operating Permit in respect of the Company's flagship Ewoyaa Lithium Project
("Ewoyaa" or the "Project").

The Mine Operating Permit serves as the final regulatory approval required by
the Company ahead of commencing construction of the Project, comprising the
Ewoyaa Lithium Mine and Processing Plant, and represents an important
milestone towards reaching a Final Investment Decision.

The Company currently awaits the ratification of the Ewoyaa Mining Lease by
Ghana's parliament. The Company understands that parliament will resume
sitting on 15 October 2024 and will provide further updates to shareholders as
appropriate.

Commenting, Neil Herbert, Executive Chairman of Atlantic Lithium, said:

"Representing the final regulatory approval required by the Company before we
can commence construction, the issuance of the Mine Operating Permit marks a
critical milestone in the permitting process for the Ewoyaa Lithium Project.

"With our sights set on achieving first production of lithium in Ghana, we now
eagerly await parliamentary ratification of the Ewoyaa Mining Lease. We hope
that ratification can occur in the coming sitting, expected to resume on the
15(th) of this month, which would set us on the path towards construction and
operation of this globally significant lithium project."

 

Authorised for release by Amanda Harsas, Finance Director and Company
Secretary, Atlantic Lithium Limited.

 

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)

                   www.atlanticlithium.com.au
                   IR@atlanticlithium.com.au
                   Tel: +61 2 8072 0640
 SP Angel Corporate Finance LLP      Yellow Jersey PR Limited                                           Canaccord Genuity Limited

 Nominated Adviser                   Charles Goodwin                                                    Financial Adviser:

 Jeff Keating                        Bessie Elliot                                                      Raj Khatri (UK) /

                                   atlantic@yellowjerseypr.com (mailto:atlantic@yellowjerseypr.com)

 Charlie Bouverat
                                                                  Duncan St John, Christian Calabrese (Australia)

                                   Tel: +44 (0)20 3004 9512

 Tel: +44 (0)20 3470 0470

                                                                                                        Corporate Broking:

                                                                                                        James Asensio

                                                                                                        Tel: +44 (0) 20 7523 4500

Notes to Editors:

 

About Atlantic Lithium

www.atlanticlithium.com.au (http://www.atlanticlithium.com.au/)

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 509km(2) and
771km(2) 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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