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ALL Atlantic Lithium Limited

19.50
-0.80 (-3.94%)
19 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Atlantic Lithium Limited LSE:ALL London Ordinary Share AU0000237554 ORD NPV (DI)
  Price Change % Change Share Price Shares Traded Last Trade
  -0.80 -3.94% 19.50 797,653 16:35:20
Bid Price Offer Price High Price Low Price Open Price
19.62 20.20 19.36 19.36 19.36
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Iron Ores AUD AUD -12.19M AUD -0.0200 -9.68 117.95M
Last Trade Time Trade Type Trade Size Trade Price Currency
16:35:20 UT 59,772 19.50 GBX

Atlantic Lithium (ALL) Latest News

Atlantic Lithium (ALL) Discussions and Chat

Atlantic Lithium Forums and Chat

Date Time Title Posts
19/4/202415:10ATLANTIC LITHIUM (formally Ironridge resources)3,989
16/11/202316:27Allocate Software254
25/11/202211:42Just thought I'd say hello8
01/4/201419:21TA Analysis1
28/2/201410:04TA Analysis-

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Atlantic Lithium (ALL) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2024-04-19 15:35:2019.5059,77211,655.54UT
2024-04-19 15:22:4319.684,268840.10O
2024-04-19 15:18:3019.6840,0007,871.20O
2024-04-19 15:11:5720.013,000600.25O
2024-04-19 14:46:3319.7150,0009,856.70O

Atlantic Lithium (ALL) Top Chat Posts

Top Posts
Posted at 19/4/2024 09:20 by Atlantic Lithium Daily Update
Atlantic Lithium Limited is listed in the Iron Ores sector of the London Stock Exchange with ticker ALL. The last closing price for Atlantic Lithium was 20.30p.
Atlantic Lithium currently has 609,241,660 shares in issue. The market capitalisation of Atlantic Lithium is £117,949,185.
Atlantic Lithium has a price to earnings ratio (PE ratio) of -9.68.
This morning ALL shares opened at 19.36p
Posted at 26/3/2024 17:41 by lurker5
Management are right to be excited about 'the Eowaa project' - their bonny baby. But there is deafening silence about the share of its profits that ALL shareholders will see. For one, a 15% 'free carry' is pretty onerous. It will take away more than 15% of the NPV shareholders will see. On top will be the cost of any off-take deal. So far, by shouldering 38% of the capex, shareholders can expect 38% of the net profit after the free carry. But if ALL can only meet that cost by selling an offtake in advance (a stream deal, or however - the mechanism can vary but usually consists in selling the offtake at a substantial discount) there will be another cost that shareholders will have to bear. Eg if ALL got a loan, the repayments will take away the associated repayment NPV (ie the repayments wll dent ALL's profit share). But getting a loan against what is now ALL's minority share in the project just can't be done. Hence an off-take deal, which always turns out much more expensive than any borrowing. (Depends how the offtake is structured in relation to whatever is paid to ALL up front.) No wonder Amanda and Neil aren't discussiing it, and no wonder I can't find any analysts report which calculates the shares' true value. Thats not to say it probably won't be more than current (insider Assor has obviously done the summs) But it could turn out a lot less than is being bandied around, and the funding structure together with an erratic lithium market makes for a pretty highly geared ALL share. It is probably why potential investors are still wary.
Posted at 28/2/2024 15:02 by plasybryn
On share price Angel today - Lithium
Lithium - China experienced surge in lithium production in 2023
China saw a surge in production through 2023 on the back of strong demand for EV batteries
Lithium carbonate production rose 31.1% to 517,900t in 2023
China’s production capacity has now risen 83.3% to > 1.1mt as the nation gears up to meet strong anticipated growth in production and demand.
Lithium smelters ordered to halt work in Jiangxi as Australian spodumene price climbs
Lithium smelters in China’s lithium hub Jiangxi are reportedly halting production amid environmental inspections.
SMM reports smelters unable to ‘properly handle lithium slag will be restricted from starting operations.’
However, reports suggest major producers are continuing production.
February lithium carbonate in China produced from lepidolite has reportedly fallen 33% mom, reflecting the downtime over the Lunar New Year holiday.
Platts Australian spodumene price climbed to $870/t over the weekend, having hovered around the $850/t for most of the ytd period.
Zimbabwe continues to encourage miners to provide plans for this year’s production, despite the likely uneconomic price environment.
Posted at 23/1/2024 13:50 by pauliewonder
SP Angel seems to agree with this boards commentsAtlantic Lithium* (ALL LN) 20.20p, Mkt cap £126m – Assore notifies market of increase in shareholding to 28.4% as potential precursor to hostile offerAssore International Holdings Limited reports it has raised its stake to 28.40% from 25.06%.We suspect the move may be a precursor to an offer for the company .UK takeover provisions do not apply as Atlantic Lithium is incorporated in Australia but Assore have bought the maximum that the 3% creep provision allows every six months.Atlantic management have already rejected offers from Assore to take over the business on at least two occasions.Assore have been long-standing backers of Atlantic supporting the IPO in 2015 and continuing to back the company through its transition into lithium.The group runs a series of bulk commodity mines in South Africa and holds 50% of Assmang (manganese), 100% of Dwarsrivier Chrome mine and 100% of Wonderstone.Assore also holds 26.6% of Gemfields and ~14% of Vision Blue Resources as well as its 28.4% stake in Atlantic Lithium.Given the worsening political, security situation in South Africa we would not be surprised to see more South African based businesses move to consolidate assets outside the region.Conclusion: We suspect Assore will be preparing for another potentially less friendly run on the company*SP Angel acts as Nomad to Atlantic Lithium. Two mining analysts from share price Angel recently visited the Ewoyaa mine site in Ghana and drove onto Takoradi to check the quality of the road to port. Our analysts also visited the Ministry of Minerals Commission and MIIF, the Ghana Minerals Income Investment Fund.
Posted at 12/12/2023 11:16 by plasybryn
SP Angel Brokers today:
Atlantic Lithium* (ALL LN) 26.5p, Mkt Cap £162m – Feldspar mineral resource shows 15.7mt grading 40.2% feldspar at Ewoyaa Lithium project in Ghana
(Ewoyaa Ownership: 40.5% Atlantic, 40.5% Piedmont, 6% MIIF Sovereign Wealth fund, 13% government of Ghana)
STRONG BUY
Atlantic Lithium have reported their first feldspar Mineral resource Estimate at the Ewoyaa Lithium project in Ghana.
The initial mineral resource is estimated to be 15.7mt grading 40.2% representing approximately half of the total pegmatite volume with strong potential to double the resource.
The team have also started re-sampling previous drilling samples for sodium as the indicator mineral for feldspar with potential to expand the resource further before the inclusion of new extensions being drilled.
And a comment on the sub-region represents one of the fastest growing population centres globally which bodes well for ceramics demand.
Ghana had a thriving ceramics industry in the Salt Pond region with investors looking to revamp the Saltpond Ceramic Company ‘SCC’ and Ghana Ceramics Company factory in recent years.
The GCC factory has been defunct since the 1990s, partly due to the unreliable energy supply at the time.
New hydropower production coupled with a more stable power grid is seen as supporting the restart of the ceramics industry along with plans for new solar power in the region.
Atlantic’s metallurgical test work and ceramic application trials show the feldspar product is suitable for industry-standard ware and is comparable in all aspects, including contraction, water absorption, density, porosity, shape, colour and appearance.
The team’s expert processing skills and output should be able to supply local Ghanaian demand and may even find new export markets.
Conclusion: Atlantic is focussed on the production of lithium bearing spodumene from the Ewoyaa mine. The processing and sale of Feldspar should help to restart and rejuvenate local production of ceramics providing substantial new youth employment as well as opportunities for further export. This is good news for Atlantic, the Salt Pond ceramics industry and great news for local youth employment .
*SP Angel acts as Nomad to Atlantic Lithium. Two mining analysts from share price Angel recently visited the Ewoyaa mine site in Ghana and drove onto Takoradi to check the quality of the road to port. Our analysts also visited the Ministry of Minerals Commission and MIIF, the Ghana Minerals Income Investment Fund.
Posted at 22/11/2023 10:54 by ukgeorge
From share price Angel

Company News

Atlantic Lithium* (ALL LN) 26.6p, Mkt Cap £165m – Atlantic to start initial production at the Ewoyaa lithium project in early 2025

(Ewoyaa Ownership: 40.5% Atlantic, 40.5% Piedmont, 6% MIIF Sovereign Wealth fund, 13% government of Ghana)

STRONG BUY

Work is underway in planning for the construction of the Ewoyaa lithium mine and processing plant next year.
First spodumene concentrate production should roll off in early 2025 from the DMS ‘Dense Media Separation’ plant with construction of the flotation plant to start shortly after.
The Atlantic team have received the necessary permit for electrical power offtake from the Ghana grid which is reported to cut power costs by 30-50%. Ghana.
Ghana has over >7,000Gwh of hydropower capacity generating just over 35% of the countries needs.
The Atlantic team is busy working to prepare the way for construction next year on the:
EPCM ‘Engineering, Procurement, Construction and Management‘ for the main process plant and other infrastructure
Tendering for mining contractor and DMS procurement with DRA advising
Tendering for the mobile crusher to feed the DMS
Contract to move the high-tension transmission lines which cross the project site. This should happen in Q2 2024
Scoping study for the Flotation plant to follow on from the DMS plant. This will improve the overall performance of the plant.
Feldspar resource estimate due this year to support study for by-product production for local ceramics industry
EPCM on potential for lithium conversion plant in Ghana, as agreed in the terms of the grant of the Ewoyaa mining lease.
2.7mtpa flotation study supports viability of processing fines and the middlings along with enhanced recovery of P2 finer-grained pegmatite material.
Recruitment of three general managers for the mine development and ongoing operation:
Ahmed-Salim Adam joins as General Manager, Operations. He is an accomplished mining General Manager with >15 years' experience in Ghana.
Andrew Henry joins General Manager, Commercial and Finance. Previously Andrew was at Allkem, a lithium chemicals company and also Newcrest Mining.
Simone Horsfall joins General Manager, People. Previously Simone was a senior human resources professional at AngloGold Ashanti and at 29Metals.
Permitting:
“Following ministerial grant of the Mining Lease for the Project in October 2023, representatives of the Government of Ghana have publicly expressed their desire to ratify the Mining Lease before the end of the calendar year.

Concurrently, the Company is undergoing activities to obtain the necessary approvals and permits required ahead of construction of the Project.”

*SP Angel acts as Nomad to Atlantic Lithium. Two mining analysts from share price Angel recently visited the Ewoyaa mine site in Ghana and drove onto Takoradi to check the quality of the road to port. Our analysts also visited the Ministry of Minerals Commission and MIIF, the Ghana Minerals Income Investment Fund.
Posted at 01/10/2023 19:04 by echoridge
News has already come, which you are needlessly discounting and instead, making a common mistake and putting way too much emphasis on the share price's disappointing share price performance currently. Management's huge accomplishments to date, from growing the asset to unprecedented insider share buying, to gaining the commitments from both Piedmont and the local SWF, to Neil's almost unbelievable revelation regarding offtake demand and therefore the Company's massive cash inflow expectations in Q1 next year, have not yet been anywhere near adequately reflected in the share price not - as you obviously think - because of some poisonous hidden fear in the market, but rather from mostly some very old-fashioned large holders' forced selling as well as a continued miserable environment for AIM small caps. Sure, there is an exaggerated fear surrounding the issue of the ML (which Neil was - again - wildly bullish about in the webinar. I've known him for 20 years and he is a boy scout. He wouldn't have said what he did if he didn't honestly believe it), but small shareholders need to understand that the other reasons I mentioned are more influential at present but also, by their very nature, temporary. Translation: this share price is a coiled spring and one only really needs a bit of patience to see a significant return.
Posted at 08/9/2023 14:47 by sipptrader88
Yes indeed UK George the share price Angel note sure puts the recent "games played" into perspective and I guess a few weak hands lost some shares in the process.......Apart from MIIF investment ...certain individuals will have "worked out" or "helped to work out" what's being going down and will be coming through...and I sure a few RIs have accumulated without risk!

The share price Angel note sure also puts the mind at rest and looks to cement our price for now in the region of 50p + when PI/RI catch on to the opportunity presented here in ALL at 26p. There is definately no need for us to be below the Blue Orca short from 38p odd.

The MIIF is 95% coming through on the good terms presented today!

The ML is 99% coming through!

There will be cash of £26m to explore some of the other 97% land licences

There will be a new offtake for the other available 50% which will give us more than enough for our extra mine build capex and plenty left over.

There will be excellent revenue realised and faster than previously perceived.

There will be no need to dilute shareholders to raise capital unless it's adding more proportional value to ALL.

What's not to like about 26p....GLA
Posted at 08/9/2023 10:58 by ukgeorge
From SPAngel

Company News

Atlantic Lithium* (ALL LN) 25p, Mkt Cap £152m – Ghana Sovereign Wealth Fund signs non-binding heads of terms to buy 6% of Ewoyaa and the wider Ghana portfolio for US$27.9m alongside $5m placement at 41p/s

STRONG BUY from Buy

(Piedmont can earn into up to 50% of the Ewoyaa lithium project through the expenditure of around 70% of the project capex)

This is a refreshingly good day for mining in Ghana as well as a good day for Atlantic Lithium.

Negotiations with MIIF, the Minerals Income Investment Fund have progressed with the singing of non-binding heads of terms for a direct ‘contributing’ investment of US$27.9m into 6% of Atlantic’s Cape Coast portfolio including the Ewoyaa project.
The term ‘contributing’ is all important as it tells us that Ghana is not demanding something for nothing, as some other African nations are wont to do.
MIIF is also investing US$5m directly into Atlantic Lithium by way of a share placing at 21p/s and are subject to a series of lock-up dates.
If MIIF does not contribute to its share of the funding the MIIF fund will be diluted down.

Options: MIIF are also taking warrants at a 40% premium to the subscription price of 21p/s on a two-for-one basis with an 18-month term indicating that they expect to make a profit on the stock over a relatively short period.
The total investment is $32.9m
MIIF is effectively buying into five Ghanian subsidiaries and is committing to stand its corner as a partner with Atlantic Lithium.
This very much better than we had expected and shows MIIF to be working and acting as a true Sovereign Fund.

Director: MIIF also get to place a director at the Ghanaian subsidiary level and have a right to bid for Ewoyaa's available offtake.
Piedmont currently has a first right to acquire up to 50% off the offtake leaving the other 50% up for grabs.

Ghana press: Statements in the Ghana press had led investors to expect potential changes to mineral legislation in Ghana through rising royalties, free carry stakes, a potential ban on the export of DSO and concentrate material.
We are pleased to see none of this in today’s statement.

Mining license: We believe today’s deal with MIIF is a precursor to the award of the mining license by the MinCom, the Minerals Commission.
Capex: US$185m for Eowyaa DMS and second state flotation plant
Piedmont is contributing an initial $70m to the development of Ewoyaa and is likely to raise its investment if required due to its pressing need for spodumene concentrate.

Offtake: We believe Atlantic can use offers for offtake to potentially fund its share of the capex for the Ewoyaa project and reckon their remaining 50% share could command >US$100m in the market due to ongoing strong demand for spodumene concentrates.

Production: 350,000tpa SC6% spodumene concentrate from 2025.
Non-binding agreement: We have met with the MIIF team at their offices in Ghana. They are very professional, and we would be surprised if the non-binding agreement did not come to fruition. Having said that, nothing is ever concluded till final signatures are in place.

Ghana government: While the MIIF fund is not the Government of Ghana it does represent the nation from a financial perspective. We would expect a degree of coordination between the wishes of the government and the MIIF fund and we view today’s deal as declaring that Ghana is open for business for battery metals mining and exports.
While the government always retains the option to impose new rules and regulations, we see MIIF as having done much of the financial negotiation with the Government’s Minerals Commission focussing on other more practical and strategic matters.
Future exploration and development: Having MIIF as a partner is a hugely symbolic step towards a new and ongoing partnership with the government to the benefit of both parties and feels like a rare statement of practical support towards a Western company operating in Africa.

MIIF’s 6% partnership in the ‘Cape Coast’ licenses including the licenses within ‘Joy Transporters’ indicates to us that MIIF wishes to support further exploration and development for lithium.

Edward Nana Yaw Koranteng, CEO at MIIF states:
"The Minerals Income Investment Fund of Ghana is a minerals sovereign wealth fund with an underlying objective of supporting the growth of mining in Ghana and providing a de-risking option for investors in the mining space in Ghana. The investment in Atlantic Lithium underscores this underlying objective and is indeed a watershed moment as this is our first investment in the lithium space globally. The Ewoyaa project is world class, with huge prospects in the other tenements under Atlantic Lithium.

"The acquisition of a 6% contributing interest in the Company's Ghanaian subsidiaries will support the funding of ongoing capital and exploration expenditure requirements across Ewoyaa and the broader Atlantic Lithium portfolio. This is just our initial investment in Atlantic Lithium and its Ghanaian subsidiaries. We hope to later invest in the value chain and the development of other by-products, such as feldspar, in line with the Government of Ghana's critical minerals policy.

"Our investment highlights Ghana as arguably the best mining investment destination in Africa in view of the options MIIF provides to investors. For us at MIIF, this is the start of a partnership with Atlantic Lithium beyond Ghana. We are confident that this initial investment will enhance and accelerate Ghana's efforts as an African critical minerals hub and to establish the country's position in the global EV supply chain."

Recommendation: We are raising our recommendation to Strong Buy from Buy. Today’s news is very much better than we had expected given recent speculation and statements in the Ghana press.

The deal with MIIF goes a long way to de-risking the project in our view and we expect Atlantic to receive its mining license in short order and for construction to start relatively quickly

*SP Angel acts as Nomad to Atlantic Lithium. Two mining analysts from share price Angel recently visited the Ewoyaa mine site in Ghana and drove onto Takoradi to check the quality of the road to port. Our intrepid analysts also visited the Ministry of Minerals Commission and MIIF, the Ghana Minerals Income Investment Fund.
Posted at 22/8/2023 11:18 by ukgeorge
From SPAngel

Company News
Atlantic Lithium* (ALL LN) 21p, Mkt Cap £128m – Len Kolff acquires 3m shares in Atlantic

(Piedmonth can earn into up to 50% of the Ewoyaa lithium project through the expenditure of around 70% of the project capex)
BUY

• Atlantic Lithium report the acquisition of 3m new ESOP (employee stock ownership plan) shares at 30p/s for a total consideration of £900,000.
• The purchase along with other recent director stock buying brings the board’s total stock ownership to 2.96% of the company.
• Len Kolff worked as the acting CEO of Atlantic Lithium following the passing of Vincent Mascolo last year .
• Kolff continues to work, as head of business development and chief geologist, on extending and further defining the lithium-in-spodumene resource at Ewoyaa in Ghana and is a dedicated and critical part of the Atlantic Lithium team.
• Institutional investors like to see management buying and holding stock.
• Keith Muller, Altantic’s CEO, is also incentivised to see the shares go higher and also holds the following stock options:
o 2m @ 50p,
o 2m @ 60p
o 2m @ 70p.
• Atlantic’s recent director purchases should lend confidence to the market and hopefully reward all involved.
• News over the new ‘Green Minerals’ fiscal regime in the Ghana press has unsettled investors and led to a significant decline in Atlantic’s share price.
• We believe settlement of the fiscal agreement between Atlantic and the government of Ghana should be relatively close and we look forward to the issuance of a mining license for the Ewoyaa lithium project over the next two or three months.
*SP Angel acts as Nomad to Atlantic Lithium. Two mining analysts from share price Angel recently visited the Ewoyaa mine site in Ghana and drove onto Takoradi to check the quality of the road to port. Our intrepid analysts also visited the Ministry of Minerals Commission and MIIF, the Ghana Minerals Income Investment Fund.
Posted at 08/8/2023 10:56 by ukgeorge
From SPAngel


Atlantic Lithium* (ALL LN) 22.9p, Mkt Cap £138m – Infill and extension drilling shows high-grade results. Green minerals press speculation in Ghana.
(Piedmonth can earn into up to 50% of the Ewoyaa lithium project through the expenditure of around 70% of the project capex)

• Atlantic Lithium have responded to press speculation in Ghana in relation to potential new government legislation on ‘green minerals’ including lithium.
• Speculation suggests the government may impose a sliding scale royalty scheme with royalties exceeding gold royalties at certain price levels.
• The state’s carried interest is also expected to rise modestly from the current rate required from gold miners.
• We understand the government is keen to see downstream processing in Ghana but we are also told miners should be allowed to export lithium concentrates till a refinery is built.
• This follows a similar pattern to the gold industry where gold miners were allowed to export gold concentrates and dore but are now required to refine gold in Ghana.
• The government of Ghana has an underlying right to buy all minerals produced in country and like most other nations is understandably keen to see value added in country.
• Management are in regular and ongoing discussion with the Minerals Commission for the early development of the Ewoyaa lithium mine.
• Livista, a European refinery company, is currently considering a site which it has been offered close to the port of Takoradi for the construction of its first non-European lithium refinery.
• Infill and Extensional drill results:
• Management report results from the latest 5,444m of infill and exploration drilling at Ewoyaa as part of a larger 18,500m drill program.
• Two share price Angel mining analysts were recently at site to see Geodrills’ magnificent EDN2000HC automated drill rig churning out reverse circulation chippings with round the clock supervision and logging of drill chips.
• Drilling is designed to increase the proportion of ‘Indicated Resources’ from lower confidence ‘Inferred resources’ at Ewoyaa South-2 for future mine scheduling and resource growth.
• Intersections include:
o 23m at 1.75% Li2O from 184m
o 15m at 1.3% Li2O from 68m
o 14m at 1.27% Li2O from 48m
o 9m at 1.57% Li2O from 263m
o 14m at 0.99% Li2O from 6m
o 11m at 1.22% Li2O from 65m
o 13m at 0.97% Li2O from 96m
o 10m at 1.22% Li2O from 202m
o 9m at 1.33% Li2O from 94m
o 11m at 0.98% Li2O from 106m
• Seismic survey using passive seismic is being demobilised due to limitations with not all known pegmatites identified by the survey.
• The survey did identify a 10m wide pegmatite, an extension of a known pegmatite though the survey generally saw limitations on targets less than 20m true thickness.
• The team see greater value in drilling now the seismic survey has shown how the structures run.
• Broader exploration will continue to use soil sampling, geophysics and auger drilling ahead of RC drill testing.

Conclusion: The government of Ghana is treading carefully with its new ‘Green minerals’ legislation. Ministers do not want to risk losing out on investment at a critical time for the ‘Green metals’ industry by imposing overly harsh royalty, ownership and export regimes which could cause investment to move to other countries for lithium and other green metals supplies. Ewoyaa remains on track to be Ghana's first lithium mine and is currently waiting on the government to settle on its new ‘Green minerals’ regime for its mining license.

*SP Angel acts as Nomad to Atlantic Lithium. Two mining analysts from share price Angel recently visited the Ewoyaa mine site in Ghana and drove onto Takoradi to check the quality of the road to port and see the infrastructure for the potential new Livista refinery site. Our intrepid analysts also visited the Ministry of Minerals Commission and MIIF, the Ghana Minerals Income Investment Fund.
Atlantic Lithium share price data is direct from the London Stock Exchange

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