Business
Corporate Update and Half-year Financial Report
Corporate Update and Half-year Financial Report.
About this update from Atlantic Lithium Limited.
[{"type":"text","content":"\n \n \n \n \n \n \n \n \n 15 March 2023\n \n \n \n \n \n \n \n \n \n Interim Results\n \n \n \n \n \n \n \n Highly successful operational, corporate and financial period\n \n \n \n \n Robust Pre-Feasibility Study significantly derisks Ewoyaa Lithium Project\n \n \n \n \n Further progress made towards building Ghana's first lithium mine\n \n \n \n \n \n \n Atlantic Lithium Limited (AIM: ALL, ASX: A11, OTCQX: ALLIF, \"Atlantic Lithium\" or the \"Company\"), the funded African-focussed lithium exploration and development company targeting to deliver Ghana's first lithium mine, is pleased to announce its unaudited Interim Results for the half-year period ended 31 December 2022\n .\n \n \n \n \n \n A full copy of today's report (including\n tables and diagrams referred to in this release) is available through the Investor Centre of the Company's website (\n \n \n https://www.atlanticlithium.com.au\n \n \n ) or can be viewed in the PDF version via the following link:\n \n \n http://www.rns-pdf.londonstockexchange.com/rns/0349T_1-2023-3-15.pdf\n \n \n \n \n \n \n Project Highlights\n \n \n \n ·\n Completed Pre-Feasibility Study (\"PFS\") on the Ewoyaa Lithium Project (\"Ewoyaa\"), demonstrating the significant profitability potential of this stand-out project:\n \n \n o \n LOM revenues exceeding US$4.84bn, Post-tax NPV8 of US$1.33bn, IRR of 224% over 12.5 years\n \n \n o \n US$125m capital cost with industry-leading payback period of <5 months\n \n \n o \n Maiden Ore Reserve of 18.9Mt at 1.24% Li20 declared, demonstrating sound resources to reserve conversion\n \n \n o \n 12.5-year mine life, 2Mtpa conventional dense media separation (\"DMS\") processing facility with average 255,000tpa 6% lithium spodumene concentrate (\"SC6\") production\n \n \n ·\n Mining Licence application lodged for\n the extraction of minerals from the proposed Ewoyaa Lithium Mine\n \n \n ·\n Awarded processing plant Front-End Engineering Design contract to Primero Group\n \n \n ·\n Completed a 47,000m resource infill and extensional reverse circulation (\"RC\") and diamond core (\"DD\") drilling programme. Results included:\n \n \n o \n Highest-grade assay result of 6.78% Li2O over a 1m interval in drilling at the Ewoyaa Main 'Starter Pit'\n \n \n o \n Multiple broad and high-grade inter...