Name of the Project
Ewoyaa lithium project.

Location
Ghana.

Project Owner/s
Aim-listed lithium explorer and developer Atlantic Minerals. Piedmont has an earn-in right of 50% of Atlantic’s Ghanaian projects, including Ewoyaa, and the company holds a 10% equity interest in lithium explorer Atlantic Lithium.

Project Description
The Ewoyaa project is set to be Ghana’s first lithium-producing mine.

Over the 12-year life-of-mine, the project is expected to produce 3.58-million tonnes a year of 6% and 5.5% spodumene concentrate, as well as 4.7-million tonnes of secondary product as a by-product of dense-media separation (DMS).

Development involves the opencut mining of several lithium-bearing pegmatite deposits, conventional DMS processing and supporting infrastructure.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has an after-tax net present value, at an 8% discount rate, of $1.5-billion and an internal rate of return of 105%, with a payback of 19 months.

Capital Expenditure
$185-million.

Planned Start/End Date
Production of spodumene concentrate and secondary product is targeted for the second quarter of 2025.

Latest Developments
Atlantic Lithium has secured funding of up to £28-million through binding agreements with Long State Investments to advance the project. The financing package includes an £8-million share placement agreement and a £20-million committed equity facility, both spanning 24 months and structured to provide the company with flexibility while minimising shareholder dilution. An initial placement of £2-million has been raised, with further tranches available at the company’s discretion.

Atlantic Lithium CEO Keith Muller has said the agreements provide immediate and longer-term financial support, strengthening the company’s position during a critical stage of development. Long State’s participation, through Patras Capital, underscores its confidence in the project’s strategic importance and growth potential.

The company plans to hold an extraordinary general meeting in October 2025 to secure shareholder approval for the facility-related share and warrant issuances. Major shareholder Assore International Holdings has pledged support for the resolutions.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Atlantic Minerals, tel +61 2 8072 0640 or email info@atlanticlithium.com.au.