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Atlantic Lithium Limited acknowledged media coverage on 24 April 2025 regarding its appeal to the Ghanaian Government for fiscal concessions for the Ewoyaa Lithium Project. Since the Ewoyaa Mining Lease was granted in October 2023, lithium prices declined significantly, leading the company to engage key stakeholders, including government representatives, to discuss fiscal terms, with discussions remaining ongoing.
| Date | 24 Apr 2025 |
| Time | 11:56:48 |
| Category | Corporate updates |
| ID | 0798G |
24 April 2025
Response to Media Reporting
The Board of Atlantic Lithium Limited (AIM: ALL, ASX: A11, GSE: ALLGH, OTCQX: ALLIF, "Atlantic Lithium" or the "Company"), acknowledges the recent media coverage regarding its appeal to the Ghanaian Government for fiscal concessions to ensure the successful development of the Ewoyaa Lithium Project, Ghana's first lithium-producing mine.
Since the Ewoyaa Mining Lease was granted in October 2023, lithium prices have declined significantly. Accordingly, the Company has engaged key stakeholders, including government representatives, to discuss fiscal terms that reflect the current lithium price environment. Discussions remain ongoing.
Despite the challenging global lithium market, Atlantic Lithium remains steadfast in its commitment to progressing the Ewoyaa project to production, working closely with the Government of Ghana and local communities. The Company continues to engage in constructive discussions with all stakeholders to ensure that the project delivers long-term benefits for Ghana, including critical revenues, local employment and skills development.
Commenting, Neil Herbert, Executive Chairman of Atlantic Lithium, said:
"We are dedicated to working in a spirit of partnership with the Government of Ghana and our host communities to ensure Ewoyaa becomes a flagship project for the country and the region. While current lithium prices present headwinds, we believe that through collaboration and prudent fiscal measures, we can advance Ewoyaa to production and deliver lasting value for all stakeholders."
Authorised for release by Amanda Harsas, Finance Director and Company Secretary, Atlantic Lithium Limited.
Neil Herbert (Executive Chairman)
Amanda Harsas (Finance Director and Company Secretary)
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www.atlanticlithium.com.au |
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Tel: +61 2 8072 0640 |
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SP Angel Corporate Finance LLP Nominated Adviser Jeff Keating Charlie Bouverat Tel: +44 (0)20 3470 0470 |
Yellow Jersey PR Limited Charles Goodwin Bessie Elliot Tel: +44 (0)20 3004 9512
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Canaccord Genuity Limited Financial Adviser: Raj Khatri (UK) / Duncan St John, Christian Calabrese (Australia)
Corporate Broking: James Asensio Tel: +44 (0) 20 7523 4500 |
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Notes to Editors:
About Atlantic Lithium
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 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.
Atlantic Lithium holds a portfolio of lithium projects within 509km2 and 771km2 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.
