REG - Atlantic Lithium Ltd - Statement re Media Speculation

Atlantic LithiumAnnouncement

07/08/2023 15:15

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RNS Number : 5493I  Atlantic Lithium Limited  07 August 2023

7 August 2023

Statement re Media Speculation

Atlantic Lithium remains confident of the grant of the Mining Lease

to advance the Ewoyaa Lithium Project

Atlantic Lithium Limited (AIM: ALL, ASX: A11, OTCQX: ALLIF, "Atlantic Lithium"
or the "Company"), the African-focused lithium exploration and development
company targeting to deliver Ghana's first lithium mine, notes recent media
speculation regarding the introduction of a new Green Minerals Policy by the
Government of Ghana and issues the following statement.

The Company acknowledges comments made by Ghana's Minister for Lands and
Natural Resources, Hon. Samuel A. Jinapor, which relate to potential
implications for mining companies from the introduction of the new policy,
including changes to the mining royalty rate and the state's carried interest
in minerals projects.

The Company confirms that it has been in regular discussion with Ghana's
Minerals Commission, which is responsible for the determination and
application of legislation within the mining sector, with regards to
establishing a framework which is attractive for companies aiming to extract
Ghana's natural resources, while also ensuring maximum value is delivered to
Ghana and Ghanaians.

Atlantic Lithium is not in a position to disclose the nature of these
discussions at this stage and will update the market with any developments
when it is appropriate to do so.

The Company recognises the strong support in-country to deliver a successful
production operation at its Ewoyaa Lithium Project ("Ewoyaa" or the
"Project"), which is on track to become Ghana's first lithium mine, and
remains of the belief that it will be granted the Mining Lease required to
advance the Project.

 

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               Company Broker

 Jeff Keating                        Bessie Elliot                 Raj Khatri / James Asensio

                                   atlantic@yellowjerseypr.com

 Charlie Bouverat
                             Harry Rees

                                   Tel: +44 (0)20 3004 9512

 Tel: +44 (0)20 3470 0470
                             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 and ASX-listed lithium company advancing a
portfolio of lithium projects in Ghana and Côte d'Ivoire through to
production.

The Company's flagship project, the Ewoyaa Project in Ghana, is a significant
lithium spodumene pegmatite discovery on track to become Ghana's first
lithium-producing mine. The Company signed a funding agreement with Piedmont
Lithium Inc. towards the development of the Ewoyaa Project. Atlantic Lithium
is currently advancing the Ewoyaa Project through feasibility studies and
intends to be producing a spodumene concentrate via simple gravity only
process flowsheet.

Atlantic Lithium holds 560km(2) and 774km(2) of tenure across Ghana and Côte
d'Ivoire respectively, comprising significantly under-explored, highly
prospective licences.

 

 

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