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CHARGING

THE CHANGE

“We said to ourselves ‘let’s employ the
whole team out of Ghana’ so we can show

support to the community”

A major resource upgrade and rampant spodumene concentrate “It takes off pressure of raising capital and mineralogy. The project is unique because it Lithium developers are coming under
increased scrutiny for their performance
is non dilutive to existing shareholders,
is so simple - that’s what drives the value.”
prices are about to transform the economics of Atlantic Lithium allowing us to focus on delivering results. Completion of the PFS will pave the way for across the ESG spectrum but Kolff is
Piedmont has been very supportive and
confident Ewoyaa can deliver on every level.
Ltd’s Ewoyaa project in Ghana, making it one of the most highly Atlantic Lithium is running the programmes the mining licence application to begin; a “The project has an extremely low
and study,” Kolff says. “They help us with
process which could take 12 months.
sought-after development assets in the global lithium space. learnings from their own project, so it is great Key to success in the approvals process will environmental impact and, because it is
be winning the support of the community.
essentially a dense media separation project,
to have them as a partner. It is in their interest
to see us succeed too.” Kolff believes Atlantic Lithium is already well it will be a lower power consumer,” he says.
advanced in this area. “We have grid power adjacent, largely
As well as calling on the Piedmont “For any project, community and social hydro and two 20MW solar plants 40km
experience, Atlantic Lithium can lean on performance is one of the most important away, so green energy is going to be a big
the lithium knowledge of Noel O’Brien and operational factors,” he says. “We said to tick with investors.
Atlantic Lithium – listed on AIM under the operation producing 300,000 tpa premium Steve Zaninovich.
Key Details ticker AIM: ALL and planning a listing spodumene concentrate, Life of Mine
on ASX – has already proven Ewoyaa’s revenues exceeding US$3.43bn, Post-tax “Both gentlemen have commissioned DMS “The project is unique because it is so simple -
AIM: ALL economic credentials with a robust Scoping NPV 8 of US$789m and an IRR of 194% lithium projects before and that is rare in
Study, released in 2021. Following a major over 11.4 years, on the back of a $70 million the lithium space, where a lot is driven by that’s what drives the value”
OTC: ALLIF drilling campaign last year, however, the capex investment. mineralogy.”
Website: www.atlanticlithium.com.au Company will release a PFS this quarter
LinkedIn: Atlantic Lithium Limited based on a significantly larger resource, Kolff says the updated study will likely In that regard, Atlantic Lithium is already ourselves ‘let’s employ the whole team out “It has been a challenging six months
while looking to further grow the resource to deliver an increased mine life and improved enjoying the advantages that Ewoyaa is of Ghana’ so we can show support to the since former CEO Vincent Mascolo sadly
Twitter: @AtlanticLithium
plug into a DFS next year. economics. presenting. community. Other than one expat on site, passed away, but the team is determined
the majority of the workforce come from to fulfil his vision and see the project reach
“The Scoping Study was completed last year “In terms of throughput, mine life will be “The metallurgical testwork has repeated the local community. There are not many production. I’ve been involved with several
and that is now being rolled into the PFS,” longer but 2 mtpa seems the sweet spot at very well on almost four times the sample operations which can say that.” projects in Africa and, with the support of the
An improvement to Interim CEO Len Kolff says. “The two major this stage. 37,000m of drilling is currently size. The process so far has been in line with Government, I think we are well on-track to
underway, which will grow the resource,
achieve our goal.”
expectations, which is testament to the simple
changes are the resource – up from 21Mt to
the economics and 30.1Mt – and the spodumene concentrate confidence ahead of the DFS. There is
define measured resources and improve
pricing used. It will be much higher than the
technical aspects $US900/t used in the Scoping Study - that category, and the programme will infill the
already more than 20Mt in the Indicated
is looking very conservative now. They’re
of Ewoyaa could the two biggest levers on the project’s first 1.5 years of planned production to
Measured, as well as exploration step-
economics.”
elevate it to the top of An improvement to the economics and out drilling which will hopefully add more
tonnes.”
the pegmatite lithium technical aspects of Ewoyaa could elevate Atlantic Lithium is supported by NASDAQ-
it to the top of the pegmatite lithium
development pack. development pack. listed Piedmont Lithium Ltd, which is backing “Green energy is going to be a big
the company through to production by
The December 2021 updated Scoping Study funding studies and $US70 million of capex.
indicated the project could host a 2 mtpa tick with investors”