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Share Price: 21.20

Bid: 21.20

Ask: 21.55

Change: -0.05 (-0.24%)

Spread: 0.35 (1.651%)

Open: 21.75

High: 21.75

Low: 21.05

Prev. Close: 21.25

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Atlantic Lithium completes Ricca Resources demerger

Fri, 24th Dec 2021 10:37

(Alliance News) - Atlantic Lithium Ltd on Friday said it completed the demerger of its gold assets into Ricca Resources Ltd.

The lithium-focused exploration company said the in-specie distribution of all of the shares held in Ricca Resources to eligible Atlantic Lithium shareholders has been completed.

The demerger of Ricca and the company's gold assets completes a process that will enable Atlantic Lithium to focus exclusively on lithium. This will also support the company in realising the full potential of its asset portfolio and delivering value to Atlantic Lithium shareholders, it said.

Going forward, Atlantic Lithium will be solely focusing on its Ewoyaa Lithium project in Ghana. A recent scoping study retained the business case for 2 million tonnes per annum production operation with life of mine revenue exceeding USD3.43 billion.

Shares in Atlantic Lithium were up 1.9% at 22.92 pence each on Friday morning in London.

By Abby Amoakuh; abbyamoakuh@alliancenews.com

More News

23 Jun 2023 15:20

Atlantic Lithium makes two board appointments

(Sharecast News) - Africa-focussed explorer and developer Atlantic Lithium announced the appointment of chief executive officer Keith Muller and Patrick Brindle to its board.

20 Jun 2023 14:48

Atlantic Lithium reports latest assay results from Ewoyaa

(Sharecast News) - Africa-focussed explorer and developer Atlantic Lithium released initial assay results for its ongoing resource and exploration drilling program at the Ewoyaa Lithium Project in Ghana on Tuesday.

20 Jun 2023 14:22

IN BRIEF: Atlantic Lithium confirms mineralisation continuity at Ewoyaa

Atlantic Lithium Ltd - Africa-focused lithium exploration and development company - Says assay results for 2,208 metres of infill reverse circulation have been completed at the Ewoyaa project in Ghana. Notes results confirm mineralisation continuity. Adds drilling and regional exploration programmes are ongoing and its definitive feasibility study is on track for release in the second quarter of 2023.

13 Jun 2023 11:45

Atlantic Lithium senior director leaves to focus on other interests

(Alliance News) - Atlantic Lithium Ltd on Tuesday said Senior Non-Executive Director Stuart Crow stepped down from the board with immediate effect to focus on his other business interests.

13 Jun 2023 09:23

Atlantic Lithium senior director steps down after a decade

(Sharecast News) - Africa-focussed explorer and developer Atlantic Lithium announced the immediate resignation of Stuart Crow from the board on Tuesday.

1 Jun 2023 10:28

Atlantic Lithium appoints chief executive officer to board

(Alliance News) - Atlantic Lithium Ltd on Thursday said it formally appointed Chief Executive Officer Keith Muller to the board, following his promotion to the role earlier this month.

16 May 2023 17:33

IN BRIEF: Atlantic Lithium promotes Keith Muller to CEO

Atlantic Lithium Ltd - African-focussed lithium exploration and development company - Names Keith Muller as chief executive succeeding Len Kolff who has held the position on an interim basis since March 2022. Muller, who joined the company in November 2022 as chief operating officer, has over 20 years of operational and leadership experience and a background in hard rock lithium mining and processing, specifically in dense medium separation spodumene processing. Board believes the time is now right for him to lead the company through the construction phase and on to first production.

16 May 2023 12:03

Atlantic Lithium appoints new permanent chief executive

(Sharecast News) - Atlantic Lithium announced the appointment of Keith Muller as its chief executive officer on Tuesday, with Len Kolff moving to the position of head of business development and chief geologist.

28 Apr 2023 20:26

TRADING UPDATES: Nostrum Oil & Gas predicts drop in revenue

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:

19 Apr 2023 17:37

TRADING UPDATES: Angle partners with BioView; First Class hails nickel

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

19 Apr 2023 13:28

Atlantic Lithium upbeat on latest Ghana progress

(Sharecast News) - Atlantic Lithium updated the market on ongoing exploration and resource drilling at the Ewoyaa Lithium Project and broader 560-square kilometre Cape Coast Lithium portfolio in Ghana on Wednesday, as it aimed to deliver Ghana's first lithium mine.

24 Mar 2023 12:12

DIRECTOR DEALINGS: Vehicle of CLS deputy chair buys 1.4 million shares

(Alliance News) - The following is a round-up of share dealings by London-listed company directors and managers announced on Friday and not separately reported by Alliance News:

22 Mar 2023 11:09

Atlantic Lithium announces staged development for Ewoyaa

(Sharecast News) - Africa-focussed explorer and developer Atlantic Lithium announced plans for staged project developments to optimise the process flowsheet and mine throughput scenarios for the Ewoyaa Lithium Project in Ghana on Wednesday.

20 Mar 2023 08:29

IN BRIEF: Atlantic Lithium chiefs invest GBP670,000; starts drilling

Atlantic Lithium Ltd - developing lithium mine in Ghana - Executive Chair Neil Herbert buys 1.9 million shares at average GBP0.2748, worth GBP519,380, on Thursday last week. Finance Director Amanda Harsas buys 571,500 shares at average GBP0.2690, worth GBP153,734, on Thursday and Friday. Herbert now has 7.3 million shares, a 1.2% stake. Harsas has 733,371 shares.

15 Mar 2023 17:49

IN BRIEF: Atlantic Lithium progresses at Ewoyaa Lithium Project

Atlantic Lithium Ltd - Africa-focused lithium exploration and development company - Completes pre-feasibility study on the Ewoyaa Lithium Project in Ghana, adding that the study demonstrates "significant profitability potential" for the project. The project has a maiden ore reserve of 18.9 million tonnes at 1.24% lithium oxide and a mine life of 12.5 years. Life of mine revenue is expected to exceed USD4.8 billion. Company also completes a 47,000 metre resource infill and extensional reverse circulation and diamond core drilling programme. Highest grade assay result from the drilling is 6.78% lithium oxide over a 1 metre interval in drilling at the Ewoyaa main starter pit. Mineral resource estimate upgrades to 35.3 million tonnes at 1.25% lithium oxide.

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