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Atlantic Lithium Limited Announces Exceptional Lithium Scoping Study Update Ghana

News Provided by Accesswire2021-12-07
33 Views

SCOPING STUDY UPDATE YIELDS SIGNIFICANT UPSIDE
Ewoyaa Lithium Project 11 Year Mine Life
Post-Tax NPV Increases to US$789m
Scoping Study Update Confirms Ewoyaa Lithium Project is an Industry-leading Asset

SYDNEY, AUSTRALIA / ACCESSWIRE / December 7, 2021 /Atlantic Lithium Limited (AIM:ALL)(OTCQX:ALLIF), "Atlantic Lithium" or the "Company"), the African focussed lithium exploration and development company, is pleased to announce an updated Scoping Study (the "Study Update") on the Ewoyaa Lithium Project ("Ewoyaa" or the "Project") in Ghana, West Africa, reaffirming it is an industry-leading asset. The Scoping Study Update incorporates the increased JORC resource of 21.3Mt, resulting in a significant improvement in project economics and life of mine.

HIGHLIGHTS:

  • Scoping Study Update retains business case for 2 million tonnes per annum ("Mtpa") production operation with life of mine ("LOM") revenues exceeding US$3.43bn.
  • Study Update increases Project's LOM operations to over 11 years, producing an average 300,000tpa of 6% Li2O spodumene concentrate.
  • In addition to spodumene production, the Study Update incorporates two additional revenue streams:
    • A saleable direct shipping ore ("DSO") Fines product
    • A saleable Feldspar by-product
  • Study Update delivers exceptional financial outcomes:
    • LOM revenues exceeding US$3.43bn, Post-tax NPV8 of US$789m, IRR of 194% over 11.4 years
    • US$70m capital cost with industry-leading payback period of <1 year
    • C1 cash operating costs of US$249 per tonne of 6% lithium spodumene concentrate Free on Board ("FOB") Ghana Port, after by-product credits
    • Pre-tax NPV8 of US$1.23bn and EBITDA of US$2.02bn for LOM
    • Average EBITDA of US$178m per annum
  • Preliminary Australian Nuclear Science and Technology Organization ("ANSTO") test-work confirms Ewoyaa concentrate produces high purity, battery-grade Lithium Carbonate ("LC") and Lithium Hydroxide Monohydrate ("LHM").
  • Project provides outstanding asset fundamentals, logistics and access to infrastructure:
    • Conventional open cut mining operation from surface with low to moderate stripping ratios
    • Simple processing via conventional Dense Media Separation only ("DMS"), producing a premium 6% spodumene concentrate saleable product at a 6.3mm coarse crush
    • Excellent geology and metallurgy with potential upside for improved DMS recoveries
    • First quartile cash costs; low capital and operating costs with a low carbon footprint
    • Significant exploration upside potential from the historic Egyasimanku Hill deposit (1.5Mt @ 1.66% Li2O, non-JORC) and surrounding 560km2 portfolio
    • Close proximity to excellent logistics and infrastructure - only 110km by road from the deep-sea port of Takoradi, adjacent to highway and high voltage ("HV") powerlines, including hydroelectric sources
  • Significant potential for resource upgrades; project metrics substantially improve with increased LOM beyond 12 years.

Please click on or paste the following URL into the web browser to view the announcement in full:
http://www.rns-pdf.londonstockexchange.com/rns/8028U_1-2021-12-7.pdf

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: Atlantic Lithium Limited



View source version on accesswire.com:
https://www.accesswire.com/676308/Atlantic-Lithium-Limited-Announces-Exceptional-Lithium-Scoping-Study-Update-Ghana



© 2021 Accesswire. All Rights Reserved.

The news, reports, views and opinions of authors (or source) expressed are their own and do not necessarily represent the views of CRWE World.


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