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IN BRIEF: Atlantic Lithium shareholders approve gold demerger steps

Thu, 25th Nov 2021 17:52

Atlantic Lithium Ltd - lithium-focused exploration company - Shareholders approve capital reduction and in-specie distribution which will facilitate the demerger of company's gold assets into Ricca Resources Ltd.

Demerger is expected to be completed on December 22, with Atlantic Lithium providing Ricca with AUD7 million in start-up capital.

In mid-October, Atlantic first proposed to demerge its gold assets and focus on lithium, meaning it would be solely focused on its Ewoyaa project in Ghana.

Current stock price: 22.25 pence

Year-to-date change: up 78%

By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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