Atlantic Lithium Ltd (AIM:ALL, ASX:A11, OTCID:ALLIF) has told investors it is entering 2026 in a stronger position, despite delays to approvals in Ghana and a difficult year for lithium prices.
In a statement prepared for its AGM, the company said it had spent much of 2025 tightening costs, reshaping its teams and working with the Ghanaian government to keep the Ewoyaa project moving.
Ewoyaa is set to become Ghana’s first lithium mine and is crucial to Atlantic Lithium’s future. Progress stalled earlier in the year when the project’s revised Mining Lease was slow to reach Parliament.
That step has now been completed, with the document referred to a Select Committee for review. The company said it remains confident ratification “will follow soon”, noting the strategic importance of the mine to both the country and its Central Region.
Lithium prices rebounded slightly after mid-year lows but remain below levels typically required to support new investment.
Atlantic Lithium said it had responded by reducing leadership pay, slashing non-essential spending and streamlining operations in both Ghana and Australia. It also worked with the government to agree fiscal terms better suited to the current market environment.
To enhance its finances, the company secured two funding arrangements with Long State Investments worth up to £28 million over two years.
Management said the facilities give it flexibility to draw capital only when needed and help limit dilution, calling Long State’s backing a vote of confidence in the Ewoyaa project.
Away from Ghana, the exploration portfolio in Côte d’Ivoire delivered encouraging results at the Agboville and Rubino licences. The company said early work suggests meaningful lithium potential, with its exploration team adding “long-term value” through a disciplined approach.
Atlantic Lithium said demand trends in electric vehicles and energy storage remain supportive over the longer term. With Ewoyaa viewed as a low-cost, near-term development opportunity, the company expects to be well placed when the wider lithium market recovers.