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Understood Basher. It's good to discuss these things and your investments.

If there's a better value hard-rock (spodumene) project out there that's near production and in a decent jurisdiction I want to know about it. At the moment, I can't find anything better value than Atlantic Lithium.

With the mining license in hand, I see this valued close to Core Lithium which has a market cap of AUS$2.16bln (GBP1.2billion). Currently, we have a market cap of only GBP240m. And our JV partner will pay for most of the capex.

In the meantime, I'm hoping for more drill assays next week!

Hi Basher,

On the presentation (p11), it says that the Tantalum project will generate $750,000/month which is $9million. And that, "Lithium anticipated to come into production during first quarter of 2023, with similar (or greater) profitability". (Which is an odd statement because we haven't been told the profitability of the Tantalum, just the revenue.)

None the less, this looks to be a small project.

Atlantic Lithium's Ewoyaa is slated to produce 255,000 tonnes of Spodumene concentrate. ALL's 50% share is 127,500 tonnes which at the last BMX spot auction of about $8,500 / t would be about US$1billion.

The projects don't compare in terms of scale.

I wish you and Kazera well with the project. The scale, grade and lepidolite factors are just not for me. (Namibia is a decent jurisdiction though)

It's good to have you post on this board Basher. Atlantic's message board is far too quiet for a project of this quality.

On your timeline question. It's worth watching the LSE interview with Atlantic's Chairman Neil Herbert. I seem to remember he guided towards September 2023 for the mining license.

Basher,
Looking at Kazera, it says the following: "Purple Haze is an LCT complex LEPIDOLITE type pegmatite that dips to the south-west at between 30° and 35° and is approximately 10 m thick." Page 2 and paragraph 3.

https://kazeraglobal.com/wp-content/uploads/2019/08/J3890_Kazera_Purple-Haze-Mineral-Resource-Statement_Final_28-06-19-.pdf

My interest is with Hard Rock SPODUMENE projects, which our Chairman describes as the Holy Grail of lithium minerals. Simply because the processing of SPODUMENE is tried and tested and the converters love the stuff.

I try to avoid LEPIDOLITE, PETALITE, ZINNWALDITE and other Lithium minerals due the higher risk with processing. Doesn't mean it can't be processed but just it tends to be more complex to process than the mineral SPODUMENE. Atlantic's Ewoyaa is a SPODUMENE deposit. Good luck with Kazera.

Basher, You are correct that a mining license is important. This is why, when my late father and I were looking for a stock to invest in a while back, we decided against lithium projects located in the EU and USA, due to the difficulties getting approvals. Since then, note the problems Savannah Resources has had in the EU and Piedmont's challenges in North Carolina. It doesn't mean these projects won't happen but there are challenges. We also decided against projects in Mali and Zimbabwe due to other risks. We were comfortable with Australia, Canada and Ghana as possible destinations, due to their long history in mining and a more pragmatic approach.

I see that you have made some favourable comments on Kodal Minerals on your posting history. Kodal's Bougani Lithium project, we dismissed because it is located in Mali. The military coup of 2021 hasn't helped. I believe that the military have promised a general election in Feb 24 and in exchange ECOWAS have removed sanctions. I think many will wait on the sidelines to see if Mali returns to democracy or not. https://www.bbc.co.uk/news/world-africa-62037317

But taking the geopolitics aside, Atlantic has the advantage of being on the coast and not hundreds of kilometres inland like Kodal's Bougani and Leo Lithium's Goulamina. It's just one less challenge to overcome (ie logistics) and I have a principle in life to try and keep things simple.

As for the JV partner spending money, well, you'll have to ask them. They are getting 50% of an amazing project in return for their money and I'm guessing are happy to do so based on their due diligence.

There are always risks with projects, I'm not prepared to take processing risk on DLE, Clays or brines. I'm also not prepared to take risks with military juntas etc. But I'm prepared to take the risk with Atlantic Lithium's Ewoyaa. I wish you well with Kodal, if you have a holding.

Atlantic Lithium are the main story on this site:

https://tinyurl.com/bdfdzydz

If you've been following the Ghana / IMF loan negotiations, the IMF are in Ghana from Dec 1 to 13. ie. NOW! see link here:

https://www.imf.org/en/News/Articles/2022/11/29/pr22411-ghana-imf-staff-to-visit

From what I've read, the objectives of an IMF loan to Ghana would include:

"Specifically, in the fiscal sector, an important policy objective would be TO INCREASE REVENUES, critical for debt sustainability while safeguarding spending on health, education, and social protections."

Tax revenue from Ewoyaa would be handy TO INCREASE REVENUES. Ghana might want to highlight this to the IMF, would they not?

What's interesting is that IF the Ghana Sovereign Wealth fund comes on board and Ghana expedites the mining license, perhaps then Atlantic and Piedmont just start building the mine rather than complete the DFS?!!!

No idea if this will happen, but it seems to me that it's in EVERYONE'S interest.

Great to see Neil Herbert scheduled for the LSE Natural Resources event. Also, an excellent video from Klein and Hooper. Thanks T-KGB and GK. It made me wonder what Rio Tinto might do next in the lithium sector?

I'm looking forward to the next set of drill results from Atlantic:

If you look at the last drill update and scroll down to figure 1 you can see some pending assays (white circles) to the left of the Ewoyaa North-East label and at the top of the figure. Hopefully plenty more tonnage found here.

http://ir.q4europe.com/Tools/newsArticleHTML.aspx?solutionID=3674&customerKey=IronRidge&storyID=15625377

Then we get the Resource update early next year. ALL the time (pun intended, apologies!) were moving towards DFS and a potential Core Lithium / Sigma Lithium style re-rate!.....

Yes T-KGB, looking much better in the US.
Sigma Lithium +8% at the moment.

GK, S42, R1971, bankrupty and Dr Jamain,

I added too. I picked up a few just above 40p. I couldn't wait and then picked some up late on below 40p.

I couldn't tell you where it'll go from here short-term. But longer-term, for me, it was too good a price to resist.

Also, I'm expecting more drill results soon. Maybe Wednesday?

No apology needed T-KGB,

And thanks for posting the article. It's important to follow what's going on.

The political support for a supply chain seems to be there from western governments. With Alkemy's Tees Valley, I'm just fascinated with their ambitious plans. Where the lithium feedstock comes from is still a mystery to me. Good luck them though.

GK, agreed. Keeping life simple is a good principle. It's something that Ewoyaa has in its favour. Processing is SIMPLE and will be amazingly profitable at current spot prices and still amazingly profitable if lithium spot prices drop about 80% to US$1,395 / t, where our PFS was done.

Atlantic Lithium do NOT need to be going upstream into producing Lithium Sulphate, in my opinion.

What's the saying? Keep it simple....

Receive mining permit, build plant and make nearly a billion USD in revenue once ramped up and at current spot lithium con. prices (see Pilbara's BMX auction), for Atlantic's share of production.

We do NOT need any distractions with producing Lithium Sulphate.

Once, cash is flowing then maybe we can think about this. But otherwise, keep KEEP IT SIMPLE!

Many thanks Teddy KGB,

I just don't understand where they are going to get their lithium feedstock from.

https://www.alkemycapital.co.uk/news

If you click on the recent announcement it says:

"To address this challenge, the Company plans to import high-grade lithium feedstock in the form of technical grade lithium carbonate and lithium sulphate from spodumene producers in Australia and elsewhere. This, in turn, helps to avoid loading up the world’s shipping fleets with low grade spodumene concentrates and reduce waste."

Then if you click on the announcement from 8/8/2022 about a Lithium Sulphate plant in Australia, it says:

"Working with leading global metals trader Traxys to source the spodumene feedstock for the Port Hedland LSM plant, Alkemy is now progressing discussions to finalise and secure the optimal site for the Port Hedland LSM plant and the definitive spodumene feedstock agreement to underwrite the development of the plant."

It looks to me that they're still short lithium feedstock!...

Teddy KGB + GK,

This is a great discussion from Klein and his guest. It really highlights the huge efforts that the US is making in building and securing the critical minerals supply chain. Sounds like much more government support, grants and loans to come. Which makes me believe that Atlantic Lithium are in the right place at the right time!

One item that I don't think has been discussed here yet, is LG Chem announcing they plan to build a US$3bln battery cathode plant in Tennessee. Our partner Piedmont are understandably happy with this, since Piedmont plan to build a lithium hydroxide plant in Tennessee. Here's a tweet from Piedmont:

https://twitter.com/PiedmontLithium/status/1595486326622765061

We should be happy too. Where is the spodumene concentrate for Piedmont's Tennessee plant going to come from?

Go Tennessee!

We must be due some more drill assays soon?!....

Ham123,

This is my thinking too. The lithium price for spodumene concentrate will have to drop about 85% from the US$8,575/t (6%) that Pilbara recently received.

And what about the possibility of the price going higher still? I'm not saying this will happen but maybe it will!

Hi Senderos,
Just saw the news. Great to see Assore upping their stake! Agreed, massive endorsement!

For those, with Ricca Resources shares from the spin-out, it's worth reading Endeavour Mining's news release today on Tanda-Iguela in the Ivory Coast.

https://www.endeavourmining.com/media/news/endeavour-makes-major-greenfield-discovery-cote-divoire-maiden-11moz-indicated-and-19moz

It looks like it's near Ricca tenements in the north east of the country.

https://www.riccaresources.com.au/cote-divoire-1

Good luck with the graphite investments everyone. I wish you well.

For me, my interest remains with lithium.

It is the lightest metal in the periodic table. This is important because a lightweight material is needed to make a car battery. In its solid metal form lithium FLOATS on water, it is so light!

We also need a metal because we need lots of electrons to carry the charge in the battery.

There is no lighter metal in the periodic table than lithium! And so there is LIKELY no better material to use in the cathode, in my opinion.

We should all watch out for technological change and maybe the scientists find a better battery technology. I have no idea.

But because lithium is the lightest metal there is, I see the risk of SUBSTITUTION as lower.

Then we have a lower risk path to production from Ewoyaa's spodumene deposit, which is why I like Atlantic Lithium.

The most interesting fact that I've seen recently:

1) Pilbara BMX auction from YESTERDAY that showed a US$8,575/dmt for SC6.0%, CIF China basis.

Atlantic Lithium is undervalued using US$1,359/t 6% con... NPV(8%) of US$1.33bln.......ALL's 50% share would be US$665m.

The spot price is 6 times what was used in the PFS!