EWOYAA, GHANA
set to be Ghana’s first lithium-producing mine
The Company’s flagship project, the Ewoyaa Lithium Project, set to be Ghana’s first lithium-producing mine, is being advanced to production under an agreement with Piedmont Lithium.
The project is well located to excellent infrastructure and is proven to produce a spodumene concentrate product suitable for conversion to be used in EV batteries.
In June 2023, the Company announced its Definitive Feasibility Study (“DFS”) for the Ewoyaa Project, confirming the Project’s economic viability and profitability potential for the production of 3.6Mt spodumene concentrate over a 12-year Life of Mine (“LOM”).
The DFS considers the February 2023 Mineral Resource Estimate of 35.3Mt @ 1.25% Li₂O (increased in July 2024 to 36.8Mt @ 1.24% Li₂O), Ore Reserves of 25.6Mt @ 1.22% Li₂O and long-term concentrate pricing of US$1,410/t, FOB Ghana.
In October 2023, Atlantic Lithium was granted a Mining Lease for the Project, representing a major landmark for Ghana and the Company and paving the way for Ewoyaa to become one of the next major spodumene concentrate producers.
CAPE COAST LITHIUM PORTFOLIO
509km² land package secured via earn-in & application
Within 110km of Takoradi port and 100km of Accra
Flagship Ewoyaa Lithium Project
EWOYAA GRANTED MINING LEASE
Announced October 2023
First Mining Lease to be granted in Ghana for lithium
Ewoyaa on track to become one of the top 10 largest spodumene concentrate producers globally
Major de-risking milestone in advancing Ewoyaa towards production
DFS CONFIRMS PROJECT VIABILITY AND PROFITABILITY POTENTIAL
Announced June 2023
DFS indicates low capital and energy intensity
Modest capital cost
Short payback period
DFS improves confidence in Ewoyaa becoming Ghana’s first lithium mine
Based on US$1,410/t long-term spodumene concentrate price, FOB Ghana
MINERAL RESOURCE ESTIMATE
Announced July 2024
36.8Mt at 1.24% Li₂O, reported in accordance with the JORC Code (2012)
81% of the Total Resource now in the higher confidence Measured and Indicated categories
o 3.7Mt at 1.37% in the Measured category
o 26.1Mt at 1.24% in the Indicated category
o 7.0Mt @ 1.15% Li₂O in the Inferred category
Based on 168,015m of drilling completed to date
Significant potential to grow the Resource further
SIMPLE METALLURGY - PREMIUM PRODUCT
Coarse spodumene dominant pegmatites
Low contaminants
Conventional open-pit mining
3-stage crushing
Dense Media Separation processing
EXCEPTIONAL LOGISTICS
Multiple high voltage power lines adjacent to site
225kV, 161kV & 69kV with Subtransmission at 33kV and 11kV
Sealed bitumen road within 1km of deposit footprint
110km from project footprint to Takoradi port
Grid power adjacent to deposit footprint, fed by hydro and thermal plants
Funding Agreement with Piedmont
Piedmont investment
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•Initial earn in of 22.5% of Atlantic’s Ghana portfolio now complete;
•For regional exploration and to complete studies;
•Investment spend completed – all expenditure now shared equally; and
•Ghana Government approval for ownership transfer underway -
Sole funding: Initial US$70m of development expenditure
Shared funding: 50% of additional development expenditure after initial US$70m (as indicated by the DFS)
Upon completion of funding:
Piedmont will earn a further 27.5% interest in Atlantic Lithium’s holding in the Ghana portfolio, taking its total interest to 50%
Offtake agreement enabled for 50% of annual spodumene concentrate production at market prices from Ghana Portfolio – feedstock for Piedmont’s planned Tennessee Plant
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Atlantic Lithium maintains operatorship
Additional 27.5% ownership when Piedmont completes sole funding of development expenditure of US$70m
Atlantic Lithium discovered and advanced Ewoyaa through studies – Piedmont have an earn-in agreement
Offtake rights only enabled on completion of funding to achieve initial concentrate production (US$70m plus 50% additional expenditure)
Power at project site
Hydro power
Aerial photo of coast
Takoradi Port operations
110km to Takoradi port
Takoradi – Accra Highway