Atlantic Lithium Ltd (AIM:ALL, OTCQX:ALLIF, ASX:A11) chief executive Keith Muller has hailed the company’s progress over the past year and pointed out its new focus on transitioning from an explorer and developer to a producer.
Atlantic’s Ewoyaa mine in Ghana was last month awarded the first lease of its kind by the country.
Muller commented that he is “proud” to be developing Ghana’s first long-term lithium supply as a result, during a speech at the company’s annual general meeting on Thursday.
“Since joining the company, my focus has been on building a robust lithium mine,” he said, “capable of withstanding price pressures during potential downturns.”
Lithium prices have indeed faced hefty falls other the past year, though Muller said the Ewoyaa project is expected to still enjoy “impressive margins”.
“With prices having fallen from the highs we experienced in late 2022, it is important to note that Ewoyaa stands out as a low-cost project versus its peers,” he continued.
“The outlook for near-term spodumene projects, driven by the underlying demand for lithium for use in electric vehicles, remains strong.”
He pointed to June’s feasibility study, which indicated Ewoyaa’s capability of producing 3.6 million tonnes over its 12-year mine life, potentially offering revenue of US$6.6 billion based on long-term prices.
Looking ahead, Muller said Atlantic Lithium is looking into downstream production facilities, awaiting further drilling results, and also eyeing the likes of environmental certification and procurement contracts.
“Being within only two years from first production, our focus now lies on transitioning successfully from an explorer and developer, to one of the next major lithium producers,” Muller added.