Member Info for Chislehurst

Ghana

- Supportive Government plus strong Community programmes and engagement.
- Minerals Income Investment Fund (MIIF) provided an expression of Interest to invest US$30m in ALL.
- 98% Ghanaian and Ivoirian employment which equates to a low carbon footprint.
- Ghana has 1.58GW of hydro capacity i.e. green energy adjacent to deposit footprint.
- 110km (sealed road) from project footprint to Takoradi port.
- Takoradi being re-developed as a major West African oil, gas and bulk minerals hub.
- ALL retains 100% Côte d’Ivoire lithium assets.
- Strong cash position of AUS$19.1m as of 31st December 2022.
- Lithium supply / demand with be in deficit for many years to come underpinning prices.
- Now seeing evolution from explorer (and developer) towards producer, Company appointed Keith Muller as COO and Roux Terblanche as Project Manager. ALL have strong Management team and maintain excellent communication with shareholders providing total transparency.
- ALL will either be bought out at a large premium or will make huge profits from production

What can go wrong?
- WW3 (Russia / Ukraine escalates).
- Ghana Coup (stable now, but it's Africa...).
- Ghana corruption perceived by Blue Orca Capital report on 08 March 2023. Nothing to do with Ewoyaa permitting but may prompt greater scrutiny and delay.
- Lithium prices itself out of EV battery market reducing demand (but new technology would take time to develop >7 years).

I own many shares here, so of course my opinions are slightly biased, I have increased my shareholding over the past 12 months. Note, I still like Atlantic Lithium - very much so.
DYOR.

Last year 26/01/22 on LSE I posted "Why I like Atlantic Lithium". Most of what I wrote then still applies. Today I write an update based on financials and information just released.

If you have only just heard about Atlantic Lithium Limited (ALL) and wondered what the fuss is all about, here are my slightly biased views:
Relationship with Piedmont Lithium (PLL)

- ALL has a flagship Ewoyaa project ongoing in Ghana, it has vast proven lithium resources
- Project funded to production through co-development agreement with PLL.
- PLL has a 9.91% stake in ALL. PLL has the right to earn up to 50% interest at the project level for 50% SC6 spodumene concentrate offtake at market rates. PLL to provide US$17m towards studies and exploration and US$70m towards mine capex, with cost overruns shared equally.
- ALL remains with an unencumbered right to place remaining 50% of Ewoyaa’s production, this makes the Company an attractive takeover target for downstream customers.
- Cheaper to ship SC6 from Ghana to Carolina (PLL processing facility) than from Quebec
- PLL facing community and environmental issues in the US and Canada causing delays
- PLL has entered a supply contract with Tesla plus has relationship with other US based auto makers.

Project metrics

- 47,000 metre portfolio drilled to date in Ghana (out of 560km²) of granted and under application tenure. Company also has 774km2 (undrilled in Côte d’Ivoire) of under-application lithium tenure within the highly prospective Birimian terrain.
- Significant Mineral Resource Estimate (MRE) upgrade at Ewoyaa to 35.3Mt at 1.25% Li2O.
- High grade SC6 (Lithium Spodumene Concentrate 6%) with low contaminants.
- Significant potential to grow resource base within proven Li pegmatite field. Simple project with processing via conventional DMS only, producing a premium SC6 saleable product at a 10mm top size crush.
- Target production projected for end 2024 / early 2025.
- Further discoveries will likely extend Ewoyaa projected mine life of 12.5 years.
- PFS demonstrated the significant profitability potential of this stand-out project. DFS targeted for release Q2 2023 to evaluate extended mine life and increased throughput to further enhance project economics.
- LOM revenues exceeding US$4.84bn, Post-tax NPV8 of US$1.33bn. IRR of 224% over the 12.5 years and payback less than five months, with average LOM EBITDA of US$248 million per annum.
- Projected Annual Production 255,000tpa of SC6.
- Average Life of Mine Opex in Ghana US$278/t (after by-product credits).
- Forecasted long-term average SC6 price of US$1,359/t FOB over 12.5 years = huge netbacks to ALL at these prices - todays price (circa US$5,030/t).

Part 2 to follow.

Slide 21 just about sums it up "Zero Starts Here".

"MIIF is in advanced talks to make up to USD $30 million investment in the company. We have not bought any shares of Atlantic Lithium as yet."

Well there goes my theory that they had started to accumulate shares...
But they will soon. Patience required.

I'd hazard a guess that MIIF buying is underway. Those are bigger than normal trades at the close.

https://www.youtube.com/watch?v=qnMnbKyxpYU

Neil Herbert stating that MIIF investment will be at top-level, like any other investor (about 30 mins in). Mr008 as your first post on Atlantic Lithium was today, I am guessing you haven't really done any detailed research, which is borne out by your ill-informed comments.

They are looking to invest in circa 10% of Atlantic lithium US$30m. They will simply be another shareholder. They will not get discounted shares. Their intentions will be to invest long-term to increase the overall value of the Ghanaian Sovereign Wealth Fund who are looking at future dividend income to enrich the fund. Also, the participation of MIIF will do Atlantic's permitting requests no harm at all (as they are a Government organisation).
The off take agreement with Piedmont is to supply them with 50% of Ewoyaa product at spot value. For Piedmont's buy-in, Atlantic got funding to fast-track Ewoyaa, security of 50% sales (undiscounted) and potential supply links to the U.S. car industry.
I really can't understand why you believe this potential investment as a bad thing for Atlantic's shareholders.

9billion I agree - also think they (Ricca) overpaid for FRG. All seems a bit incestuous, they are going to need some more funds carrying on at this rate, plus they are a long way from production. Probably taking this chance whilst they have shareholders, who are unable to sell , on the hook.
Atlantic still looks the business though, thoroughly impressed with progress and regular updates.

I think it has been said that MIIF will be buying shares in the open market. They will also be seeking about 10% of the Company. This has been their policy with other Ghanaian companies.
"MIIF also holds ten percent (10%) free carried interest in all mining companies on behalf of the Republic of Ghana. Dividend pay-outs from these mines also constitute the Fund’s investible capital."
Source https://miif.gov.gh/income-investments/

GKP - Ah those were the days... GRH1, grharrison, KDC, Bobobob5, Gramacho, Nicebut, leesbillbob, **************, Frenchboy and many many more...multiple aliases, secret meetings, never knew who was on which side. Robert John Waterhouse and our Graham part of the same company RG Petroleum Ltd who'd have thought it....so much hype and yet so much tripe.
Predator Oil and Gas is an sea of tranquillity compared to that board and long may it continue. GKP taught me never trust what you read on a bulletin board as there are always vested interests.
News coming soon, we already know there's gas at Mou-1, hopefully a lot more at Mou-4 contracts to follow. Let's hope that Paul Griffiths keeps to his word that he will be seeking to monetising some of our assets soon.

Welcome to the PRD forum Keel1. Can't really tell from these images. The only flares seen so far in Guercif are on the dancefloor at the Hotel Atlas where Paul and Lonny are having a groove.

Hi Haggis,
It's MIIF because it specialises in Minerals. They do have a GIIF but that is their Ghanaian Infrastructure Investment Fund.

"The Minerals Income Investment Fund (MIIF) is a sovereign minerals fund mandated by the Minerals Income Investment Fund Act, 978 (as amended) to maximize the value of dividend and royalties income accruing to the Republic of Ghana in a beneficial, accountable and sustainable manner and to monetize Ghana’s mineral wealth in a manner which would bring long term value to Ghana. "

"The Ghanaian Infrastructure Investment Fund mandate is to mobilize, manage, coordinate and provide financial resources for investment in a diversified portfolio of infrastructure projects in Ghana for national development."

As long as they invest in Atlantic Lithium (with no dilution) I don't care which one it comes from. I suspect it will be the MIIF but in conversation it is easy to fall into the trap of saying Ghanaian Investment Fund etc.

Apologies post sent before completion. Break Ground Q4/23 - Q1/24.
Plus you have to throw in the Ghanaian Sovereign Wealth Fund who will be looking for an opportunity to invest sometime this year (at market price) making up some of the shortfall in capex.

Resource Upgrade Feb-23
DFS Jun-23
FEED Jun-23
Permitting Sep-23
Break Ground Dec-23

From Challenger's 2021 Annual Report
Cory Moruga Field The Group owns 83.8% of the Cory Moruga licence and is the operator, alongside its partner Touchstone Exploration Inc. which holds a 16.2% non-operated interest. The Cory Moruga field is presently not in production. The Cory Moruga licence includes the Snowcap oil discovery, with oil having previously been produced on test from the Snowcap-1 and Snowcap-2ST wells (but rapidly declined when the wells were put on production). The Group has formally written to the Trinidadian Ministry of Energy and Energy Industries (“MEEI”) proposing a programme of further appraisal work conditional on past dues being waived and annual licence fees being rebased to an appropriate level. To the extent a suitable arrangement of this nature cannot be agreed with MEEI, the Group intends to surrender the licence.

So why are we paying US$9m for something that Challenger were going to surrender for next to nothing?

FFS PG please concentrate on one project and see it through. Nothing happens quickly in TT absolutely nothing, this is a distraction. PRD has a two-man team which is thinly spread. I hope that sometime in 2023 when Morocco is a success, we bolster the Board with suitable additions because relying on two people to oversee 3 major projects you are bound to take your eye off the ball (and that includes churning out ambiguous RNS's).

PG must be very confident that there will be good news from Guercif (and contracts signed) which will fund a longer term TT project.

Happy New Year All

Lol - it does take all sorts to make a market.

Although past performance is no guarantee of future prices, this time last year the share price was 26p it's now circa 34p that's over 30% increase (and it's been a lot higher). I am expecting greater returns next year as we get closer to production. This will be my hedge against inflation.

There are absolutely no perceived problems about getting the mining licence, the process is on track and should be sorted by September 2023, if not sooner. Also cash is depreciating rapidly at the moment, I expect lithium stocks (especially Atlantic) to be an excellent hedge against inflation next year.
If the share price get anywhere close to 30p you'd better get in quick because I will be topping up with many more.

Has potential for takeover, but the Board have stated that they (and their largest shareholder) wish to take the Company through to production. Hostile bid would of course add monetary value say £1.50 - £2.00 if comparing value against other similar sized producers. But at the end of the day if the major shareholders don't agree to it (including the Ghanaian Sovereign Wealth Fund who will be investing soon) it won't happen.

Goolang, I doubt you will have time to do any research or listen to this excellent podcast from Market Musings and their interview with Neil Herbert. But this will allay all your fears about Atlantic Lithium. The initial 10 minutes or so is more about Neil's previous ventures but then it kicks on with some really good detail about our Company.
Once you have given it a listen, you should come to the conclusion that Atlantic is going to be a mega company in a couple of years' time. But I don't think research is your thing.

https://twitter.com/MarketMusing/status/1602294602664652800