Member Info for GaiasKidney

With this:-

" Development of an early production DMS plant ahead of completion of the main process plant, for early production of spodumene products for early revenue streams, as well as training of operators and developing co-ordination between mining and operations departments"

It may be so. Pre shipment payment? (Table 12 stated first shipment date). Getting some modular revenue (est total 150m) before having to pay for all the main plant (~70m) could do wonders for reducing pos ALL dilution.

I don't exclude it.

AISI it's this in particular that has instigated the sell off. The primary driver for your average AIM PI nowadays is quick return it seems. There is little patience.

Apart from this delay being finally quantified there is little that departs much from what had already been flagged up for those paying attention. Not pay back or IRR, even though the numbers depart significantly from the PFS this is explained because the initial modular operation has lower ROM input.

Looks as for continuity sake SC6 pricing has adhered to the previous, sensible but the outcome I expect l have high confidence will turn out mistaken. Double l would say, 4k today regardless of severe Li selloff. With AISC around 600 and selected sc6 price at circa 1600 there is around 1.7x gearing on cash flow vs sale price. 3k spod offers some 3 1/2x cash flow/NPV.

With a committed partner covering 70% of capex, 50% of product not contracted and no debt obligations (think PREM) as Africa projects go this remains best in class IMO.

Been adding.

GLHs.

Is it that time of day?

It is said that around 3-30 / 4ish certain parties have access to the lists of who is releasing news in the morning, but not what is in it.

Just maybe.

Https://investingnews.com/fastmarkets-lithium-supply/

Https://twitter.com/proactive_UK/status/1673715479314157572?s=20

https://www.eventbrite.co.uk/e/proactive-one2one-forum-wednesday-28th-june-tickets-654028164847

I wrote this the other day:

"From June 2020 to now PREM has 8 bagged"

Reckon best I shut up about them now....... and just quietly wait for Atlantic to grow.

;-/

Https://www.nytimes.com/2023/06/22/business/energy-environment/ford-battery-plants-loan.html

NH was appointed chair at PREM in June '20 until he moved over to Atlantic.

From June 2020 to now PREM has 8 bagged.

Just sayin' ;-)

Https://twitter.com/AmandaHarsas/status/1671734165346320386?s=20

Interesting.

Done.

...... Morning.

D_Jimenez_Sch:

⁩ " the fastest path to production will be from teams that have done the job before"

https://twitter.com/ACheesey/status/1671301154410725376?s=20

Https://www.afr.com/companies/mining/lake-resources-says-its-flagship-lithium-project-will-be-6-years-late-20230619-p5dhos

SW feel free with that 'indelicate' thingy !!

2 things to note

Friday's UT close was a high departure from the trading just before, mid was 33.2. 2 1/2% lower.

Dummy trades now for both buy and sell show that some of the trades allocated as 'buys' were below the mid derived from the dummy test, so in all likelihood they were sells.

At times the bid/offer the machine offers are a mystery.

With hard rock various countries are now banning export of raw Li ore (DSO) but AFAIAA none are restricting export of lithium concentrate (SC whatever % it is).

If Ghana were to mandate that only lithium downstream processed to hydroxide/carbonate or further was acceptable for export it would kill Ewoyaa stone dead for some years I suspect. Peidmont would walk, a Tennessee equivalent in Ghana would have no grant. Atlantic would only be able to continue with Ewoyaa as a junior in a JV partnering with someone who would have to stump up some 5x the Ewoyaa capex to build a domestic hy/ca plant. Or worse Atlantic becomes very devalued and gets taken out at fire sale pricing.

In all cases it would then be far longer before Ghana reaped any financial lithium benefit from their excellent resources..... and there there is a lot to be had!

FWIW my take.

Well Radnaksi further research and as I knew I'd seen elsewhere there it is...

"Upon termination of your employment, your options will ordinarily expire 3 months from your termination date."

Buried at end of sec 12.2 regarding ESOP options. SC's all ESOP.

Mind it's a 3m termination period. Some could well be in the money by then!

ATB.

Cont..

Labour: There is a surplus of skilled mining labour in Ghana with many young men having worked on various gold mines.

It is rare to find a country where there is so much available skilled mining labour.

Even the guys managing security at the Komase airport had all worked at local mines and they recognise a mineral sample when they see one.

Offtake: Atlantic has been careful not to commit 50% off the available offtake to any third party. The other 50% is with Piedmont who are funding the development of the Ewoyaa project.

Funding: Piedmont have already invested US$16m into Atlantic plus another US$18m for 22.5% of the Ghana portfolio.

Piedmont are also sole funding the US$70m capex for the DMS to qualify for their 50% offtake.

This should process 1.5-2.0mtpa for 255,000tpa of SC6 spodumene concentrate.

Conclusion: Atlantic Lithium is evolving from an exploration venture into a mining company at a rapid rate with Keith Muller’s recent appointment reflecting the move to production. We see the combination of skills with Keith Muller and Len Kolff as key to the rapid development of the project and the issuance of a mining license later this year.

*SP Angel acts as Nomad to Atlantic Lithium.

Atlantic Lithium* (ALL LN) 33.5p, Mkt Cap £205m – Site visit comments; Stuart Crow steps aside as non-executive director

Atlantic Lithium report the resignation of Stuart Crow from his role as Senior non-executive director.

We understand from discussion with the company that the move is entirely due to Stuart’s other business commitments.

We recently visited the Ewoyaa lithium mine project site in Ghana with Keith Muller, the new CEO and Len Kolf, the Chief Geologist and former acting CEO.

Keith is focussed on the development of a DMS ‘Dense Media Separation‘ circuit to accelerate the move to spodumene concentrate production.

Len is busy on extending the lithium resources at Ewoyaa along with better definition of the existing proposed open cast pits.

Piedmont recently appointed their COO, Patrick Brindle as a non-executive director of Atlantic Lithium. Piedmont Lithium holds 9.34% of Atlantic stock.

The board also has two nominated NEDs from Assore Int. which holds 24.92% of Atlantic stock. They are Christelle Van Der Merwe, a geologist and Kieran Daly, a mining engineer from CSM.

Processing: The current plan is to use a very simply gravity process flow sheet to concentrate the spodumene to >6% at a 10mm crush using a conventional DMS.

Spodumene is a relatively uniform, hard and dense mineral at 6.5-7 on Mohs scale and a specific gravity of around 3–3.2 making it relatively easy to separate from the country rock.

The heavy liquid separation shows recoveries of up to 90% with low contaminants.

Test work at the Australian ANSTO facilities show successful battery-grade Li carbonate and Li hydroxide conversion. We have a number of Spodumene samples in our offices for inspection.

Exploration: The team are drilling some 20,000m of auger drilling with a further 6,500m of RC drilling as follow up exploration depending on the results to expand the resource portfolio.

A further 10,000m of RC and DD drilling is infilling and extending the known 35.5mt @ 1.25% Li resources along with a further 2,000m of DD for project studies such as geotechnical work.

Infrastructure: Ewoyaa is just minutes off the main highway from the capital Accra to Takoradi, a major port on the Cape Coast.

Ewoyaa is within 110km from the Takoradi port and is just a few miles of the coast. We took a local taxi from Ewoyaa to Takoradi in under two hours.

A high-tension power line runs across the Ewoyaa property giving good access to power. The power line will need to be moved at some stage and could supply power for the process plant.

Ghana has around 1.58GW of hydro capacity and two 40MW solar projects within 40km of the Ewoyaa mine site.....

AIUI they were options awarded under the Employee Share Option Plan, terms detailed in sec 10,10 of last year's ASX Prospectus. FMU in most cases these get cancelled or are foregone on a resignation of an employee, but admittedly it does not say so in the Prospectus that I can see!

One for a Q to IR @ ALL perhaps?

Giving up 6m options- worth some 1.7m @ sp = 1 quid- and has 750k shares.

Suspect there are already some selling on the 'does he know something we don't ' trope.

Tho I agree it's far more probable it's becoming full on at LAK to get the money to go beyond experimental. His job, his skill set.

Hmm.... A hint that there may be some discussions going on between say a miner, a gov and one or more refiners in a country that will have a source of material supply a lot quicker than will Morocco perhaps?