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Https://www.myjoyonline.com/lithium-mining-to-begin-in-central-region-by-december-2024-miif-ceo/
Mining of lithium dubbed the 'Ewoyaa Lithium Project' in the Central region is expected to begin by December 2024, according to the Minerals Income Investment Fund.
Chief Executive Officer of the Mineral Income Investment Fund, Edward Nana Yaw Koranteng, told Oxford Business Economics Africa, that Ghana’s lithium discovery is ranked among the best 10 in the world.
“They [Atlantic Lithium Limited] recently discovered lithium finds in the Central Region; is called the Ewoyaa project by Atlantic Lithium. This project should come on stream by December 2024, and be in the top 10 lithium finds in the world”.
Yup it's AIM but ALL is a different beast imo. Most of AIM survives of placing after placing that comes in lower and lower. ALL sure it's had a few fundraises, but for the most part it sources significant funding through offtakes, earn ins etc... because the project fundamentals are just that exceptional. Also the board here actually carries itself with a level of professionallism and organisation missing from the vast majority of AIM.
We've had Piedmont, MiiF, Assore all cash rich groups back the project above the current share price and commit truck loads of cash. Not to forget the Gov of Ghana. We're told another big group is about to come on board potentially throwing in up to US$100mil!
Overall, I trust the management and when Neil says the ratification is a formality I believe him. When the other board members also say this from the environmental perspective and that we're actually head of schedule, I also trust them.
Not to forget the regional house of chiefs supports the project, a big plus.
https://www.ghanaweb.com/GhanaHomePage/business/Central-Regional-House-of-Chiefs-backs-lithium-mining-project-1913119
Also this just came in an hour ago.
One percent revenue of Atlantic Lithium to go into community development
https://www.ghanaweb.com/GhanaHomePage/business/One-percent-revenue-of-Atlantic-Lithium-to-go-into-community-development-1917107
Full steam ahead!
Don't think the fence sitters realise the moment in the next 2 weeks it becomes apparent production at either sc6 or 7 level is made then then forget buying in at 0.2, 0.3, 0.4, 0.5. You'll be paying above 0.6p. :)
Conservatively I think this finishes at 0.35-0.38p tomorrow because of massive fomo with production starting next week.
Then 0.4p+ end of next week.
0.6p+ end of month once output confirmed.
If Not2sure is unable to verify what then I guess it's worth reporting them to LSE/FCA and sending screenshots of the misinformation to the company in case they want to pursue legalities against the individual for the spread of false information. :o
Good read, so Liontown and Core Lithium both have a much higher OPEX and also no solutions to their funding gaps yet. Whilst here we have a lower OPEX and various funding streams in the final stages.
The miif $28mil should comfortably cover downpayments to secure equipment then the substantial offtake money pays for long lead items. Piedmont money for the rest. Seems quite straightforward to me to make the necessary steps this year for production in 2025.
Lol, Assore just bought $7mil worth of shares at 25p, at a 25% premium to the SP at the time, now holding over 28% of the company and MiiF already paid in $5mil and is about to drop anothr $28mil. That tells me everything about the risk and what's developing here. The last investor call the board were very bullish. News is around the corner, great opportunity here if you just follow the money.
365,000 tonnes of concentrate per annum not far off now. One of the biggest lithium mines in the world.
Schroder has ceased selling for a while now which is strange considering the liqudity is there. Perhaps they've caught wind of good news either on the trading front or the acquistion front. Good news on either front takes this back over 20p.