Member Info for RamonM

"Elevra has stated publicly that Ewoyaa sits lower on its list of priorities in terms of capital deployment and that it wishes to amend the structure of the joint venture with the Company in respect of the Project. The Company is in discussions with Elevra with regards to this matter and is assessing options available to the Company to advance the Project while maximising value for shareholders."

EarEyeAM, So you think Elevra are actually contributing any more? The content is self explanatory, its not rocket science, anybody with an IQ of 80 can understand what it means

The company is broke, but there will always be money for KM and AH Starbucks tab

One of the positives i take from the RNS is that the Board has finally admitted that this is not a priority to Elevra and that as a consequence they cannot rely on their funding and that this wont be a 50/50 JV - get funding in place, dilute Elevra as much as possible, sell it, let whoever wants to buy it bully Elevra out

The company motto should be:

"Atlantic Lithium - the only thing we cant do is to produce spodumene"

That is my fear, unfortunately i think it will be a very wishy washy update, nothing more than "we are working through issues with elevra" without actually going into some specifics of what the issues are

Like everyone else, I think 5toamillion is a tool, but he is right on one thing: can you honestly say that you believe that the Board has done anything so far that justifies the over inflated wages?

Please tell.me why then

I seriously think that on the $6m issue, Elevra are right. It is not their fault if the Ghanaian government dragged their heels for 2.5 years to ratify, if the Exec was rewarding themselves with overinflated wages or doing unnecessary trips, or employing a lot more people than required. for s project that was going nowhere..!

I genuinely think him and Amanda have spend a third of their wages at the nearest Starbucks sipping fancy coffee during work hours for the last 24 months, as they haven't done much during that period

I think they just dont pay the $70m upfront, they can't afford it

@Major-Tom, if they dont progress they'll lose their 22.5% share, trust me. We had this discussion on the forum several times recently

2. If Elevra does NOT commit to FID, what actually happens?

Assuming the contract says:

Failure to fund at FID results in forfeiture of the 22.5% interest and the 50% offtake

The consequences are typically:

✅ Automatic contractual loss, not a breach

(this is not Atlantic “taking” Elevra’s stake — it’s the agreed outcome)

✅ Elevra cannot claim damages for losing the interest

✅ Atlantic Lithium is free to advance the project without Elevra

This is known as a “pay‑to‑play” or “fund‑or‑forfeit” clause, extremely common in mining developments.

3. Given that, can Elevra litigate to stop or delay the mine?

Short answer: No — not successfully

Once Elevra:

declines FID funding, and

contractually loses its equity and offtake,

then Elevra loses standing to interfere with project development.

At that point:

Elevra is no longer a JV participant

Elevra has no proprietary interest in Ewoyaa

Elevra has no basis to seek injunctions or restraining orders

Courts and arbitral tribunals are very clear on this:

A party that voluntarily triggers its own forfeiture cannot then seek to restrain the project it chose not to fund.

I don’t know whether the Board is exploring alternative ways to finance the project beyond relying on Elevra (one would hope so, for everyone’s sake and mental sanity). That said, I do wonder whether this is a deliberately tactful approach—giving Elevra every reasonable opportunity to make good on their commitments—rather than showing them the door at the first misstep. In other words, a carefully documented “we tried repeatedly, you didn’t deliver, let’s shake hands and part ways” scenario, rather than an abrupt breakup.

Does anybody know when the quarterly report will be issued? Which day of next week?

Major Tom, the Royalties in the DFS were at a fixed rate of 10%. New royalty sliding scale ws agreed in early 2026

Well, there is another aspect to take into account. If there is no progress, the government can retract ratification, so ALL will need to find alternative solutions for financing regardless...

Or Elevra might want twice what they already spent for their 22.5% share of the project, let's say $100m?

So, what happens now? We pray for a miracle and that our Exec hasn't spend their days since ratification on the nearest Starbucks sipping coffee, stratching their bum and "thinking big"?

So what Elevra want to do is to held us ransom until they have money to push the project forward. This is going to turn sour.

Their stance seems to be either wait for us to be ready to invest or go at it on your own, but we'll keep on sabotaging the path forward so that you cannot get to that position and we dont loose our part of the project.

Tomorrow when we wake up, Elevra has already released their comms and wont be good news for us.

Share will go down even further

Am I being negative? No, just realistic

.I could see if Elevra would refuse to sign-off the optimization, on the premise they would look absolute idiots if ewoyaa turns out to a lot cheaper to build and is a lot more profitable than their own mine, which they insist on prioritising