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(Kitco News) - Atlantic Lithium (AIM: ALL) (OTCQX: ALLIF) today announced “exceptional” results of its definitive feasibility study (DFS) for the Ewoyaa lithium project in Ghana, West Africa.
The project development involves open cut mining of several lithium-bearing pegmatite deposits, conventional dense media separation processing and supporting infrastructure to target the production of spodumene concentrate and secondary product by Q2 2025.
In a statement, the company said that using conservative pricing, the DFS outlines 3.6Mt concentrate production over a 12-year mine life, delivering US$6.6bn life of mine revenues, a post-tax NPV8 of US$1.5bn and an IRR of 105%.
Atlantic Lithium added that the study indicates payback within only 19 months and maintains a low capital intensity, further reinforcing Ewoyaa's position among the leading pre-production hard rock lithium assets globally.
The company noted that the DFS incorporates mineral resource estimate of 35.3Mt @ 1.25 Li2O and conservative LOM concentrate pricing of US$1,587/t, FOB Ghana Port.
Atlantic Lithium also said that the project benefits from close proximity to operational infrastructure, low energy and water-intensity process flow sheet, proximity to potential off-takers and skilled Ghanaian workforce within surrounding communities.
CEO Keith Muller commented, "The definitive feasibility study has reaffirmed the Ewoyaa lithium project's impressive economic outcomes and profitability potential, providing improved confidence in Ewoyaa's ability to become a significant, near-term producer of spodumene concentrate.”
Atlantic Lithium is a lithium company advancing a portfolio of lithium projects in Ghana and Côte d’Ivoire through to production. The company’s flagship project, the Ewoyaa project in Ghana, is a significant lithium spodumene pegmatite discovery on track to become Ghana’s first lithium-producing mine. The company signed a funding agreement with Piedmont Lithium towards the development of Ewoyaa.
