REG - Atlantic Lithium Ltd - Result of AGM

Atlantic LithiumAnnouncement

29/11/2024 08:00

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RNS Number : 1836O  Atlantic Lithium Limited  29 November 2024

29 November 2024

Result of Annual General Meeting

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,
advises that Resolutions 1 to 6 and Resolutions 8 to 15 that were put to
shareholders at the Company's Annual General Meeting ("AGM"), held earlier
today in Perth, Australia, were passed by way of a poll.

Resolutions 7 and 16 were not passed. As less than 25% of votes cast on
Resolution 1 were against the adoption of the 2024 Remuneration Report,
Resolution 17, the conditional spill resolution, was not required to be
put to the meeting and accordingly was withdrawn.

In accordance with Listing Rule 3.13.2 and section 251AA(2) of the
Corporations Act 2001 (Cth), details of the results and the proxies received
in respect of each resolution are set out in the attached summary, which can
be found via the following link:

http://www.rns-pdf.londonstockexchange.com/rns/1836O_1-2024-11-29.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/1836O_1-2024-11-29.pdf)

 

Allotment and Admission of AGM-approved Shares

As per the AGM Notice, following shareholder approval at the AGM of the issue
of shares to Assore International Holdings Limited ("Assore"), the Company's
largest shareholder, and Atlantic Lithium Executive Chairman Neil Herbert,
Chief Executive Officer Keith Muller and Non-executive Director Edward
Koranteng, applications will be made to the London Stock Exchange and the
Australian Securities Exchange for admission of the shares to trading on AIM
and the ASX. Trading is expected to take place at 8:00 a.m. London time on 6
December 2024 on AIM and 10:00 a.m. on 6 December 2024 Sydney time on the ASX.

An application will also be made to the GSE for admission to trading of the
shares in due course.

 

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

 

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.(1 2)

The Project was awarded a Mining Lease in October 2023, an Environmental
Protection Agency ("EPA") Permit in September 2024, and a Mine Operating
Permit in October 2024 and is being developed under an earn-in agreement with
Piedmont Lithium Inc.

The Ewoyaa Mineral Resource Estimate (JORC) totals 36.8Mt @ 1.24% Li(2)O and
includes 3.7Mt @ 1.37% Li₂O in the Measured category, 26.1Mt @ 1.24% Li₂O
in the Indicated category and 7.0Mt @ 1.15% Li₂O in the Inferred
category.(1) Ore Reserves (Probable) of 25.6Mt @ 1.22% Li(2)O have been
reported for the Project. (1)

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.

 

End Note

(1) Ore Reserves, Mineral Resources and Production Targets

The information in this announcement that relates to Exploration Results, Ore
Reserves, Mineral Resources and Production Targets complies with the 2012
Edition of the Australasian Code for Reporting of Exploration Results, Mineral
Resources and Ore Reserves (JORC Code). The information in this announcement
relating to the Mineral Resource Estimate ("MRE") of 36.8Mt @ 1.24% Li₂O for
the Ewoyaa Lithium Project ("Ewoyaa" or the "Project") is extracted from the
Company's announcement entitled "New Dog-Leg Target Delivers Increase to
Ewoyaa MRE", dated 30 July 2024, which is available at
www.atlanticlithium.com.au (http://www.atlanticlithium.com.au) . The MRE
includes a total of 3.7Mt @ 1.37% Li₂O in the Measured category, 26.1Mt @
1.24% Li₂O in the Indicated category and 7.0Mt @ 1.15% Li₂O in the
Inferred category. The information in this announcement relating to the Ore
Reserves (Probable) of 25.6Mt @ 1.22% Li(2)O and relating to the Production
Target of 3.6Mt of spodumene concentrate over a 12-year mine life is extracted
from the Company's announcement entitled "Ewoyaa Lithium Project Definitive
Feasibility Study", dated 29 June 2023, which is available at
www.atlanticlithium.com.au (http://www.atlanticlithium.com.au) . The Company
confirms, in the case of Mineral Resources, Ore Reserves and Production
Targets, that all material assumptions and technical parameters underpinning
the estimates continue to apply. Material assumptions for the Project have
been revised on grant of the Mining Lease for the Project, announced by the
Company on 20 October 2023 in the announcement entitled, "Mining Lease Granted
for Ewoyaa Lithium Project". The Company is not aware of any new information
or data that materially affects the information included in this announcement,
the announcement dated 30 July 2024, the announcement dated 29 June 2023, or
the announcement dated 20 October 2023.

 

(2) Ewoyaa to become one of the largest spodumene concentrate producers
globally - Based on a comparison of targeted spodumene concentrate production
capacity (ktpa, 100% basis) of select hard rock spodumene projects globally
(refer Company presentation dated 8 September 2023).

 

Competent Persons

Information in this announcement relating to Mineral Resources was compiled by
Shaun Searle, a Member of the Australian Institute of Geoscientists.  Mr
Searle has sufficient experience that is relevant to the style of
mineralisation and type of deposit under consideration and to the activity
being undertaken to qualify as a Competent Person as defined in the 2012
Edition of the 'Australasian Code for Reporting of Exploration Results,
Mineral Resources and Ore Reserves' and is a Qualified Person under the AIM
Rules. Mr Searle is a director of Ashmore. Ashmore and the Competent Person
are independent of the Company and other than being paid fees for services in
compiling this report, neither has any financial interest (direct or
contingent) in the Company. Mr Searle consents to the inclusion in the report
of the matters based upon the information in the form and context in which it
appears.

 

Information in this announcement relating to Ore Reserves was compiled by Mr
Harry Warries. All stated Ore Reserves are completely included within the
quoted Mineral Resources and are quoted in dry tonnes. Mr Warries is a Fellow
of the Australasian Institute of Mining and Metallurgy and an employee of
Mining Focus Consultants Pty Ltd. He has sufficient experience, relevant to
the style of mineralisation and type of deposit under consideration and to the
activity he is undertaking, to qualify as a Competent Person as defined in the
'Australasian Code for Reporting of Mineral Resources and Ore Reserves' of
December 2012 ("JORC Code") as prepared by the Joint Ore Reserves Committee of
the Australasian Institute of Mining and Metallurgy, the Australian Institute
of Geoscientists and the Minerals Council of Australia. Mr Warries gives
Atlantic Lithium Limited consent to use this reserve estimate in reports.

 

The Company confirms that the form and context in which the Competent Persons'
findings are presented have not been materially modified from the original
market announcement.

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