Member Info for EarEyeAm

3,031,021 at the ASK price

86,690 at the BID price

Including a 1m and a 751k at the ASK price.

Here's what Google says. Nothing is guaranteed but Elevra do have a contract with Atlantic Lithium that would persist even with a takeover. If another company wanted 100% of Ewoyaa they would have to buy both ALL's share and buy Elevra out of their 50% contract. Quite possible, but you could easily imagine the orange-a-tang in the White House throwing it's toys out of the pram if Chinese companies like CATL or BYD wanted to take the 50% of Ewoyaa Lithium that's currently destined for the USA!!

Based on the provided information, Elevra (formerly part of the merged Piedmont Lithium/Sayona entity) has a significant earn-in and funding agreement with Atlantic Lithium regarding the Ewoyaa Lithium Project in Ghana.

If Atlantic Lithium were to be acquired, the following impact on the Elevra agreement is likely based on the current structure:

Earn-in Structure Remains Intact: Elevra currently holds a 22.5% direct interest in the Ewoyaa project (via funding the Definitive Feasibility Study) and has the right to earn up to a 50% interest in Atlantic Lithium's Ghana projects by funding further development costs.

Offtake Agreement Protection: Through this agreement, Elevra holds a 50% life-of-mine offtake right for spodumene concentrate from Ewoyaa, which is likely a key aspect of the agreement.

Acquisition Considerations: A potential acquirer of Atlantic Lithium would likely acquire the company subject to these existing, binding agreements with Elevra. Elevra’s position as both a major stakeholder (holding 4.9% of Atlantic Lithium directly) and the primary development partner (with a potential 50% interest) means their offtake and investment rights are tied to the asset (Ewoyaa) rather than just the corporate entity.

MIIF Impact: If the Ghanaian Minerals Income Investment Fund (MIIF) completes its 6% investment, the structure involves a complex partnership where Elevra, MIIF, and Atlantic Lithium (or its successor) share equity in the project.

In summary, an acquisition of Atlantic Lithium would likely see the new parent company assume the obligation to honor Elevra's 50% offtake rights and the contractual pathway to a 50% project interest, as these are foundational to the Ewoyaa project's development funding.

Here's the Satellite view today, we can see the ground clearance has moved past NT-1. It might continue to the CH-1 location or it might stop where it is and a Gas Hub be created there, with spur pipes to NT-2 and CH-1.

https://ibb.co/k2wrvq60

Elevra could seek US Government financial backing to buy Atlantic Lithium's share of Ewoyaa, then take a stake in the Côte d'Ivoire exploration which Atlantic Lithium would progress. That would give us a big Special Dividend and keep our shares for the Côte d'Ivoire upside, which again could be the sale of the project once Ratified unless an early bid came in for the company that was acceptable to the Directors.

The US Government is taking a $1.6Bn stake in a Rare Earth company.

https://www.bbc.co.uk/news/articles/ckgxrvln4qeo

Elevra Signs Non-Binding Memorandum of Understanding for Spodumene Concentrate offtake with Mangrove Lithium

https://www.mangrovelithium.com/elevra-signs-non-binding-memorandum-of-understanding-for-spodumene-concentrate-offtake-with-mangrove-lithium/

Low-cost lithium project targeting 365kt of high-grade, coarse-grained spodumene concentrate per annum

•Elevra has an offtake agreement with Atlantic Lithium for 50% of spodumene concentrate production at market prices on a life-of-mine basis2

•Elevra additionally exercised option to acquire 22.5% interest in Ewoyaa, having funded the Definitive Feasibility Study to completion

https://api.investi.com.au/api/announcements/sya/aad10345-f78.pdf

Assore International Holdings

Limited 211,800,865, 28.29%

Piedmont Lithium Limited 32,517,598, 4.34%

Minerals Income Investment Fund 19,245,574, 2.57%

Atlantic Lithium Directors already rejected a £222m offer from Assore way back, didn't even entertain discussions over that figure so must have been valuing Ewoyaa much higher. With Ratification and a ready to build mine, the Directors would reject an offer even higher that what they previously would have accepted. People can sell, Assore can buy, but if the board rejects the offer then Assore need to buy 90% of the stock to force a takeover, which just isn't going to happen at a low price. The only way Atlantic is getting bought out is with an offer high enough that the Directors recommend it.

"For an AIM-listed company (as a UK-registered public company), the takeover threshold is regulated by the City Code on Takeovers and Mergers. The key thresholds for a takeover are:"

Mandatory Offer (30%): A shareholder who acquires 30% or more of the voting rights in an AIM company must make a mandatory cash offer to purchase all remaining shares.

Control/Takeover Offer (>50%): A voluntary offer is usually conditional on receiving acceptances that take the bidder to over 50% of the voting rights (e.g., 50% plus one share).

Compulsory Squeeze-Out (90%): Once a bidder acquires or has accepted offers for at least 90% of the shares to which the offer relates, they can initiate a "squeeze-out" procedure to compulsorily acquire the remaining 10%.

Scotmair, yes, I was including Assore, CATL, BYD, US Government etc, it's open house once Ratification is signed off and a ready to Lithium build mine in a stable country is up for grabs.

40p would be a Market Cap of £1,788,000,000.

What's the basis for a Market Cap that high next year?

I can't see it getting anywhere near that next year, based on the income from CH-1, NT-1 and NT-2?

If they can produce 80mmscfd which is 80,000mcf at $3.7 is $108,040,000 which is £79,101,486. 25% to AEX is £19,775,371 minus all costs say 20% leaves £15,820,297.

At £1,788,000,000 with £15,820,297 profit would be a price to earnings ratio of 113 when you'd be lucky to see a P/E of 20 giving a market cap of £316,405,940 which is 7p per share.

If they hit commercial Oil at CH-1 then possibly a much bigger market cap. If they drill two or three more wells, yes.

If you can explain how you get to 40p I'm all ears.

Thanks Teddy! Look out for the Ewoyaa bidding war right after Ratification, USA vs China!

Bodes well for Zenith.

"Italy installs 6.4 GW of solar in 2025"

"The country’s cumulative installed PV capacity reached 43.5 GW at the end of December, according to the latest figures released by Italian grid operator Terna."

"The final quarter of 2025, buoyed by the commissioning of several utility-scale plants, saw an acceleration in connected capacity, with approximately 2.4 GW added out of a total 6.4 GW installed during the year."

"The utility-scale segment recorded 15% growth, with numerous large-scale plants connected to the grid — 2,910 MW in 2024 compared to 3,412 MW in 2025."

"This increase reflects the wave of authorizations issued in recent years. Data analysis shows a strong acceleration for plants above 10 MW, with a growing share of connections occurring in the final quarter alone (1,031 MW), exceeding the combined total of the previous three quarters (688 MW)."

https://www.pv-magazine.com/2026/02/06/italy-installs-6-4-gw-of-solar-in-2025/

Tomorrow at the Mining Indaba is GHANA DAY.

https://mlnr.gov.gh/for-immediate-release-2/

This is why Ratification is guaranteed; you can't go to the biggest mining conference in Africa and big up your mining sector for investment, including Lithium, and then not Ratify your biggest Lithium project with an Australian company, it would wipe out all of the credibility you just created at the event.

"Ghana Reaffirms Commitment to Stable Mining Partnerships"

"The Minister for Lands and Natural Resources, Emmanuel Armah Kofi Buah, has reaffirmed Ghana’s commitment to stable, transparent, and mutually beneficial mining partnerships, calling on Australian investors to deepen collaboration with Ghana as it advances its sustainable and value-driven mineral development."

"The Minister outlined opportunities for Australian collaboration in geological exploration, mineral processing, green technologies, lithium, and other critical minerals.

He also announced that the government has waived taxes on exploration to signal its readiness for business and partnership."

https://mlnr.gov.gh/ghana-reaffirms-commitment-to-stable-mining-partnerships/

The Sliding Scale Royalty LI was created to facilitate Ratification.

The Ewoyaa Agreement was changed to include the Sliding Scale Royalty LI.

It's only a process we are waiting for, not a decision, the decision has already been made, by the party that holds two thirds of the vote.

Another one with more details.

https://mlnr.gov.gh/ghana-shines-at-mining-indaba-showcases-continental-leadership/

Https://mlnr.gov.gh/mining-indaba-hon-minister-visits-the-exhibition-session/

Nice find Teddy! Going there and saying that can only mean one thing, Ratification GUARANTEED.

Maybe they'll give the ORCA licenses to ARA? ARA can then run those alongside Ntorya. The ORCA licenses can then decline as Ntorya increases, with no further spend required by Government on the ORCA licences.

So they did! Someone at lse needs to pay their Internet connection bill LOL!

Well that's LaryLoungeLizard filtered. I haven't got time in my life to waste on such nonsense. Like all the trolls infesting this board, why are they here if they think there is no money to be made by investing in AFC? The reasons are obvious.

I said we'd see Monday is it was the bounce off the bottom last Friday and what I see today is support creeping up, so it could well have been the bottom on Friday, only time will tell, but as they say, hindsight is a wonderful thing, but not much use when investing.

See https://ibb.co/GQ7mMn7C