Member Info for Major-Tom

Why have they not resumed trading? Thought as soon as the results were released, they would have lifted the suspension.

If Huayou increase offer within next 3 months the purchase price they agreed with Elevra will also increase by same percentage.

Anyone starting to think this whole thing may be convenient off ranp for Elevra wirh Huayou taking over their place in the JV.

Elevra changed everything here. By not keeping their end of the bargain regarding funding etc. they through the whole future of the project into doubt. I think Atlantic simply decide cant progress project with them, best to sell out and this Huayou offer was a good starting point. I think the fact it sticks it up Elevra is simply a bonus.

Look even if nothing changes Assore could still change their mind and vote against. That alone would block the takeover. Assore are in the driving seat here. Have a look at who is behind Assore and tell me if they are the type to be bullied out of an asset on the cheap. They're not and i honestly don't think that they will be.

Yeah, I do not have any trust issues with Alex or the BOD. Sure it will be resolved with no long term damage to reputation. However they sadi it would be resolved within a week and its not. So, really need to get their finger out.

Apologies N2S was tying on phone on way to office. Was supposed to say They may just make an offer at previous valuation but came out as they must.

Anyway, the point I was making is that Assore have already shown they want ewoya for themselves and that they were willing to pay ~£200m for Atlantic. So, why on earth would they not counter the ~£155m Huayou bid? Not to bid now seems illogical. Even if they were eventually outbid they would increase have increased their profit from the Huayou deal. It is just getting started. IMO there will be more bids and agree the band for expected offers is probably min 18.8p max ~27p. Nowhere near real value but it will be an exciting 6 months ahead

Assore want Ewoya to themselves. They have alreqdy shown that. They must make a bid at previous valuation. IMO they may just be backing this Huayou until they make their own bid to ensure Sharholders are grat3eul and more supportive of their bid when it comes. Interesting game of corporate poker going on.

Totally, I can see why it looks weak to accept and recommend this low ball offer. It doesn't seem to make sense. However, given that the only thing that has changed to the negative since the rejected Assore offers is Elevras decision to delay funding. I see this as Atlantic saying without you committing to fund your share this will never be built. So we may as well accept this low-ball offer and let someone else take on the project for the benefit of the Ghanaian people. Calling out Elevra and IMO Assore whilst garnering further support from the Ghanina government in the process. Assore want Ewoya for themselves and Elevra do not want to walk away with nothing.

IMO Elevra been blocking progress as not in a position to advance with finance commitments. Sure if they had committed their funds the balance would have been easily fundable through development finance and offtake. But what to do if they are blocking progress? Sure they won't get very far playing such games with Huayou. Huayou will inherit the Elevra deal once takeover completes. Sure they will very quickly dilute down Eleva who will be left with no share in project and no right to offtake. They will not be dependent on external finance, will move fast so Elevra will need to put up or pee off.

Should add that IMO this bid is simply firing the staring pistol with an aim to flush out further bid. I'm not selling any share. If I am wrong and no other bids transpire then ill walk away with a small profit at 18.8. I certainly won't sell for any less than that. Why anyone would is beyond me.

Looking forward to hearing Elevras take on this. If they had just played ball and honored the agreement this bid today would not even have been considered.

100% ownership of a fully permitted, shovel ready lithium project is much easier to finance than a legacy agreement that sees you contribute disproportionately to you current AND final equity stake in the project. Elvera are not out of this and may well make a move, Assore are not out of this and may well make a move and we still haven't even seen any of the big players make a move. The POSCO / Min Res deal gives an idea of true value. Which is a lot more than £155m. Sure any of them would take Ewoya alone off Atlantics hand at that price.

Not sure if you are aware but that 33p bid was from Assore. They previously valued Atlantic ~£206 million. Why would they accept a lower offer for their share of Atlantic? Why would they not simply bid again at same valuation? That would be around 25.6p. IMO that's why they were happy to buy more at ~25p and in my opinion will bid again.

Assore previously valued Atlantic ~£206 million. Why would they accept a lower offer for their share of Atlantic? Why would they not simply bid again at same valuation? This would mean that they either get the asset they want for the for the price they want or, they get better value for their share of the asset that they already own if someone else out bids them. IMO they will bid again and that makes the real floor here around 25.6p.

We now know that Atlantic will not take Ewoya to production. The company will be sold and If no further offers are made it will be sold to Zhejiang Huayou for $210 million. Anyone else who is interested in buying Ewoya needs to bid higher. Simple as that.

From the release:

“The Atlantic Lithium Board has undertaken a detailed evaluation of its strategic options in relation to maximising

shareholder value assessed on a risk-adjusted basis and concluded that the Huayou proposal offers an attractive

proposition for Atlantic Lithium shareholders, particularly when considered amid ongoing lithium price volatility,

complex jurisdictional challenges and against the timing and execution risks attached to financing, developing and

operating the Ewoyaa Lithium Project under the Project’s current joint venture arrangements."

I reckon the key point here is this offer is the best option considered against "operating the Ewoyaa Lithium Project under the Project’s current joint venture arrangements."

It feels like a game of poker is being played here. Acceptance / recommendation of this offer could be a move to force the hand of Elevra. You don't want to progress the project now on agreed terms then we may as well sell up and avoid years of arbitration. Oh and good luck enforcing the 50% offtake agreement that you never quite fully earned with the new Chinese battery manufacturer who will no doubt want it all to themselves.

Be interesting to hear Elevras take and how they intend to vote on this deal.

All stars rise in the East. Could 2026 be the year that East Star finally sees a significant and prolonged rise? I am feeling pretty confident with this one.

At the end of the day Orosur are well funded for 18 moths to a year. IMO just a matter of time before we see a nice SP rerate.

Just nibbled another few shares. Agree great price considering the expected news flow and massive upside potential.

The situation with Elevra may cause some delays. However, this is clearly known about and IMOP must be priced in now. Hopefully 15p can act like a good support level until we start pushing ahead again once the news flow starts to flow again. At the end of the day Atlantic are funded for at least another 2 years. Sure it will happen before then