Member Info for Major-Tom

Given the location of Ewoya, the potential scale of the Cape Coasts deposits, the Ghanaian governments aspirations to develop downstream processing in country and the cost associated with all of this. IMO, a JV between a mining major(s) and a major processor would be the ideal partnership. This would provide the expertise and capital required to turn Ghana into a Lithium powerhouse.

Exactly who is best to advance these assets depends on geo-politics. IMO, If the Chinese take control aJV llike Gangfeng and Zijin and / or Jiangxi would be good. If not, a JV like Albemarle and Rio Tinto and / or Glencore would be good.

Ewoya is a strategic lithium deposit as it is. Then, there is the massive potential exploration upside. IMO, in the right hands Ewoya and the Cape Coast assets could realistically become one of the most strategic Lithium assets in the world.

I see ALL clarified the Assore holding level post tranche 1 and post tranche 2 in yesterday's RNS. they confirm holding rising from 27.16% to 30.56%. Thats a 3.4% increase. Does this breach the ASX 3% creep rule? Does this mean Asoore will need to make another offer? If so, what price can we expect them to offer?

Don't let the -3.28%. If you want to buy share today you are paying ~9% more today than you were at close of play yesterday. That tells me all I need to know.

Look at that spread. Almost 13p on the Ask. qq.5 on the bid. They want shares!

Beyond the pre election comedy show Ghana is as stable as it gets in terms of African mining jurisdictions.

Ewoya is a strategic asset. Assore want it, I'm sure Ganfemg will want it and I would expect there a few more interested parties in the background. IMO if Assore want it they will have to bid again before ratification and signing of the offtake deal(s). If. It u think they will loose out to Gangfeng or a other major player. I suspect we will have a very interesting period between now and end of Q1.

Aded another £20k to my ALL holding this morning. Happy for now. Keep some powder dry just incase there is any more weakness or further opportunity to capitalise on bargain basement prices.

FWIW, I agree that ratification may slip into 2025. However, given the fall in the SP, to where we are now, when this became apparent, I believe that delay is largely priced in already.

To me, this weakness presents a good buying opportunity. So, I will be buying into this weakness and any further weakness. I thought ALL were exceptionally good value at 25p. So, now they are 100% more attractive now.

Assore valued ALL around £215m previousl. This was pre ratification, pre envitomental permit, pre mine operating permit. So I think its fair to say Assore must value. Arc North of £215m now that environmental permit and operating permit are in place.

Assore have shown their hand. They want to take this private. They will pay what they have to pay. And will be hindered on any hostile takeover by the 3% creep rule. So I think they will pay North of £215m.

IMO they will offer again before the offtake is signed off. I think it's nailed on the offtaker will be Gangfeng. With them no doubt taking some security over Ewoya as part of the offtaker deal IMO they will be in the driving seat once this is in place.

Any interested party will need to act relatively fast as they will all be running against a relatively short time frame to production and revenue. Of course I may be totally wrong.

Right I reckon I can now get a sizable chunk around the placing price. Can't see any reason bit to. So think I'm gonna have to go for it.

Look assore valued ALL at around £215m. There has only been positive progress since then. So for me we just need to ait tight and let the true value of this company be realised. Because at some point it must be.

Taking into account the 24.3m shares from September and the 32.6m share from this raise Assure will definitely exceed the 3% creep rules. Therefor they will be obliged to make another offer for ALL.

SP Angels take on it

Atlantic Lithium report the raising of A$9m at A$0.23 (11.73p/s). The company also reserves the ability to accept oversubscriptions for another A$3.0m (£1.5m) should they be offered.

Assore International, the South African based mining holding company has subscribed for up to A$7.5m (£3.9m).

Assore recently acquired a further 24.3m shares in ALL from Piedmont in September and offered to acquire Atlantic Lithium for 33p in November last year.

Three of the Atlantic directors have also indicated they will invest A$290,000 in the placing.

Use of proceeds:

DFS optimisation and technical refinement,

FID related expenditure including remaining permitting activities,

Site preparation, HSE reports Community Development Funding and monitoring of project impact processes.

Exploration of Rubino and Agboville licences in the Ivory Coast,

General working capital requirements.

Conclusion: It is great to see Assore continuing to support Atlantic Lithium through further funding. We wonder if this may be a precursor to a third offer by Assore to acquire the business?

Under ASX rules Assore would have to make an offer if they breach the 3% creep rule.

As per RNS their current holding is 27.56%. and their holding after the placing will be 30.56%. Obviously, this is within the 3% creep allowance.

However, Assore are not participating in tranche 1 of placing, as it needs approval at the AGM. This means that when Tranche 1 hits the market on 30th of October their holding reduces to 25.83%.

Therefore, when Assore participate in Tranche 2 their holding will increase by 4.73%, 25.83% upto 30.56%

Coud this trigger a compulsory offer. I suspect not but not 100% sure.

After my last 2 tranches and todays rise I am now showing a modest profit on my ARCM holding TNR. IMO anyone coming onboard at this level will have a reasonable good chance to make decent profit too.

Hopefully that removes any short to medium term funding concerns.

Now showing up almost 20%. Quite a significant move. Suspect there may be something quite significant behind it.

Been adding to my holding this week. Finished last of me 3rd tranche this morning. Kept a little back just in case but more than happy to see this moving upwards now.

Who knew the operating permit could be issues without ratification. I expect that ratificstion will still weigh heavily on SP but this makes ratification a bit of an insignificant formality.