Atlantic Lithium Limited (AIM:ALL, OTCQX:ALLIF, ASX:A11) has said the definitive feasibility study (DFS) for its Ewoyaa lithium project in Ghana is progressing well and on track for release in the next quarter.
Included in the study will be the recently increased mineral resource at Ewoyaa, Atlantic Lithium said, with the DFS also to evaluate an extended mine life and increased throughput to enhance the project's economics.
The company said it also hopes its application for a mining licence will be approved before it commences the EPA process.
In a corporate update and half-year financial report, Neil Herbert, Atlantic Lithium chair, commented that it will continue to explore its other licences in Ghana in tandem with the Ewoyaa development.
The company's results for the half year to end December 2022 showed losses of A$4.4mln (A$20.7mln) with cash at the period end of A$19.1mln (2021: £10.5mln).
Atlantic Lithium is fully funded to construct a mine at Ewoyaa through a deal with Piedmont Lithium.