Atlantic Lithium Ltd (AIM:ALL, OTCQX:ALLIF, ASX:A11) said it hopes to get the final mining lease from its Ewoyaa project in Ghana shortly, adding this would be the country’s first mining lease and also kickstart the permitting process.
A definitive feasibility study for Ewoyaa outlined production of 3.6Mt spodumene concentrate, free cash flow of US$2.4 billion from US$6.6 billion Life of Mine revenues, a post-tax NPV of US$1.5 billion and an Internal Rate of Return of 105%.
“These outcomes further showcase the project as an industry-leading asset,” said the company.
Results for the year to end June 2023 showed the group ended the period with A$15.3 million (2022: A$23.9 million).