10 December 2024
Issue of
Equity
Director/PDMR
Dealings
Atlantic Lithium Limited (AIM: ALL, ASX: A11, GSE:
ALLGH, OTCQX: ALLIF, "Atlantic Lithium" or the "Company"),
the Africa-focused lithium exploration and
development company targeting the delivery of Ghana's first lithium
mine, wishes to advise the allotment and issue on 11 December 2024
of a combined total of 34,035,8821 ordinary shares of no par value
each in the Company ("Ordinary Shares") at a price of A$0.23
(equivalent to 11.73 pence) per share to Assore
International Holdings Limited ("Assore"), the Company's largest
shareholder, and Atlantic Lithium Executive Chairman Neil Herbert,
Chief Executive Officer Keith Muller and Non-executive Director
Edward Koranteng (the "Participating Directors") in line with the Equity Placing completed on 25 October 2024
and following shareholder approval at the Company's Annual General
Meeting ("AGM"), held on 29 November 2024.
Following the issue of the shares, the shareholdings
of Assore and the Participating Directors (who are considered
Directors and persons discharging managerial responsibilities
("PDMRs") of the Company) will be as follows:
|
|
Subscription for Tranche 2
Shares
|
Resultant number of Ordinary
Shares beneficially held
|
Resultant percentage of
issued share capital
|
|
Assore International Holdings
Limited
|
32,775,013
|
211,800,865
|
30.56%
|
|
Neil
Herbert
|
565,217
|
8,671,522
|
1.25%
|
|
Keith
Muller
|
565,217
|
765,217
|
0.11%
|
|
Edward
Koranteng
|
130,435
|
130,435
|
0.02%
|
1 The combined
total of 34,035,882 ordinary shares noted above differs by 1 share from the figure
included for Tranche 2 Shares in the announcement of 25 October
2024. There has been no change to the number of shares allotted to
Assore and the Participating Directors as detailed in the table
above.
Total Voting Rights
Following admission of the Ordinary Shares, there
will be 693,147,313 Ordinary Shares in issue carrying voting rights
admitted to trading (on AIM, ASX and the GSE). This figure may be
used by shareholders as the denominator for the calculations by
which they will determine if they are required to notify their
interest in, or a change to their interest in, the Company under
the FCA's Disclosure Guidance and Transparency Rules.
Exchange Rates
The exchange rates used in the announcement are as
follows (as at 23 October 2024):
·
AUD -
GBP: 0.51
Authorised for release by Amanda Harsas, Finance
Director and Company Secretary, Atlantic Lithium Limited.
NOTIFICATION AND
PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL
RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH
THEM:
PURCHASE OF ORDINARY
SHARES
|
1.
|
Details of the
person discharging managerial responsibilities/person closely
associated
|
|
a)
|
Name:
|
Neil Herbert
|
|
2.
|
Reason for the
notification
|
|
a)
|
Position/status:
|
Executive Chairman
|
|
b)
|
Initial
notification/Amendment:
|
Initial notification
|
|
3.
|
Details of the
issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
|
|
a)
|
Name:
|
Atlantic Lithium Limited
|
|
b)
|
LEI:
|
213800H1JY3J7BB6BN06
|
|
4.
|
1.
Details of the transaction(s): section to be repeated for (i)
each type of instrument; (ii) each type of transaction; (iii) each
date; and (iv) each place where transactions have been
conducted.
|
|
a)
|
Description of the
financial instrument, type of instrument:
Identification
code:
|
Ordinary Shares of no par in the Company
ISIN: AU0000237554
|
|
b)
|
Nature of the
transaction:
|
Purchase of Ordinary Shares
|
|
c)
|
Price(s) and
volume(s):
|
|
Price(s)
|
Volume(s)
|
|
A$0.23 (11.73 pence)
|
565,217
|
|
|
d)
|
Aggregated
information:
|
Purchase of 565,217 Ordinary Shares at an average
price of A$0.23 (11.73 pence) per Ordinary
Share
|
|
e)
|
Date of the
transaction:
|
11 December 2024
|
|
f)
|
Place of the
transaction:
|
ASX (A11)
|
NOTIFICATION AND
PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL
RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH
THEM:
PURCHASE OF ORDINARY
SHARES
|
1.
|
Details of the
person discharging managerial responsibilities/person closely
associated
|
|
a)
|
Name:
|
Keith Muller
|
|
2.
|
Reason for the
notification
|
|
a)
|
Position/status:
|
Chief Executive Officer
|
|
b)
|
Initial
notification/Amendment:
|
Initial notification
|
|
3.
|
Details of the
issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
|
|
a)
|
Name:
|
Atlantic Lithium Limited
|
|
b)
|
LEI:
|
213800H1JY3J7BB6BN06
|
|
4.
|
1.
Details of the transaction(s): section to be repeated for (i)
each type of instrument; (ii) each type of transaction; (iii) each
date; and (iv) each place where transactions have been
conducted.
|
|
a)
|
Description of the
financial instrument, type of instrument:
Identification
code:
|
Ordinary Shares of no par in the Company
ISIN: AU0000237554
|
|
b)
|
Nature of the
transaction:
|
Purchase of Ordinary Shares
|
|
c)
|
Price(s) and
volume(s):
|
|
Price(s)
|
Volume(s)
|
|
A$0.23 (11.73 pence)
|
565,217
|
|
|
d)
|
Aggregated
information:
|
Purchase of 565,217 Ordinary Shares at an average
price of A$0.23 (11.73 pence) per Ordinary
Share
|
|
e)
|
Date of the
transaction:
|
11 December 2024
|
|
f)
|
Place of the
transaction:
|
ASX (A11)
|
NOTIFICATION AND
PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL
RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH
THEM:
PURCHASE OF ORDINARY
SHARES
|
1.
|
Details of the
person discharging managerial responsibilities/person closely
associated
|
|
a)
|
Name:
|
Edward Koranteng
|
|
2.
|
Reason for the
notification
|
|
a)
|
Position/status:
|
Non-executive Director
|
|
b)
|
Initial
notification/Amendment:
|
Initial notification
|
|
3.
|
Details of the
issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
|
|
a)
|
Name:
|
Atlantic Lithium Limited
|
|
b)
|
LEI:
|
213800H1JY3J7BB6BN06
|
|
4.
|
1.
Details of the transaction(s): section to be repeated for (i)
each type of instrument; (ii) each type of transaction; (iii) each
date; and (iv) each place where transactions have been
conducted.
|
|
a)
|
Description of the
financial instrument, type of instrument:
Identification
code:
|
Ordinary Shares of no par in the Company
ISIN: AU0000237554
|
|
b)
|
Nature of the
transaction:
|
Purchase of Ordinary Shares
|
|
c)
|
Price(s) and
volume(s):
|
|
Price(s)
|
Volume(s)
|
|
A$0.23 (11.73 pence)
|
130,435
|
|
|
d)
|
Aggregated
information:
|
Purchase of 130,435 Ordinary Shares at an average
price of A$0.23 (11.73 pence) per Ordinary
Share
|
|
e)
|
Date of the
transaction:
|
11 December 2024
|
|
f)
|
Place of the
transaction:
|
ASX (A11)
|
For any further information, please
contact:
Atlantic Lithium Limited
Neil Herbert (Executive Chairman)
Amanda Harsas (Finance Director and Company
Secretary)
|
|
www.atlanticlithium.com.au
|
|
|
IR@atlanticlithium.com.au
|
|
|
Tel: +61 2 8072
0640
|
|
SP
Angel Corporate Finance LLP
Nominated Adviser
Jeff Keating
Charlie Bouverat
Tel: +44 (0)20 3470 0470
|
Yellow Jersey PR Limited
Charles
Goodwin
Bessie
Elliot
atlantic@yellowjerseypr.com
Tel: +44 (0)20 3004
9512
|
Canaccord Genuity Limited
Financial Adviser:
Raj Khatri (UK) /
Duncan St John, Christian
Calabrese (Australia)
Corporate Broking:
James
Asensio
Tel: +44 (0) 20 7523
4500
|
|
Notes to Editors:
About Atlantic
Lithium
www.atlanticlithium.com.au
Atlantic Lithium is an AIM, ASX, GSE
and OTCQX-listed lithium company advancing its flagship project,
the Ewoyaa Lithium Project, a significant lithium spodumene
pegmatite discovery in Ghana, through to production to become the
country's first lithium-producing mine.
The Definitive Feasibility Study for
the Project indicates the production of 3.6Mt of spodumene
concentrate over a 12-year mine life, making it one of the largest
spodumene concentrate mines in the world.1 2
The Project was awarded a Mining
Lease in October 2023, an Environmental Protection Agency ("EPA")
Permit in September 2024, and a Mine Operating Permit in October
2024 and is being developed under an earn-in agreement with
Piedmont Lithium Inc.
The Ewoyaa Mineral Resource Estimate
(JORC) totals 36.8Mt @ 1.24% Li2O and includes 3.7Mt @
1.37% Li₂O in the Measured category, 26.1Mt @ 1.24% Li₂O in the
Indicated category and 7.0Mt @ 1.15% Li₂O in the Inferred
category.1 Ore Reserves (Probable) of 25.6Mt @ 1.22%
Li2O have been reported for the Project.
1
Atlantic Lithium holds a portfolio of
lithium projects within 509km2 and 771km2 of
granted and under-application tenure across Ghana and Côte d'Ivoire
respectively, which, in addition to the Project, comprises
significantly under-explored, highly prospective
licences.
End Note
1 Ore Reserves, Mineral
Resources and Production Targets
The information in this announcement
that relates to Exploration Results, Ore Reserves, Mineral
Resources and Production Targets complies with the 2012 Edition of
the Australasian Code for Reporting of Exploration Results, Mineral
Resources and Ore Reserves (JORC Code). The information in this
announcement relating to the Mineral Resource Estimate ("MRE") of
36.8Mt @ 1.24% Li₂O
for the Ewoyaa Lithium Project ("Ewoyaa" or the "Project") is
extracted from the Company's announcement entitled
"New Dog-Leg Target Delivers Increase to
Ewoyaa MRE", dated 30 July 2024, which is
available at www.atlanticlithium.com.au.
The MRE includes a total of 3.7Mt @ 1.37% Li₂O in the Measured category, 26.1Mt @
1.24% Li₂O in the
Indicated category and 7.0Mt @ 1.15% Li₂O in the Inferred category. The
information in this announcement relating to the Ore Reserves
(Probable) of 25.6Mt @ 1.22% Li2O and relating to the
Production Target of 3.6Mt of spodumene concentrate over a 12-year
mine life is extracted from the Company's announcement entitled
"Ewoyaa Lithium Project Definitive
Feasibility Study", dated 29 June 2023,
which is available at www.atlanticlithium.com.au.
The Company confirms, in the case of Mineral Resources, Ore
Reserves and Production Targets, that all material assumptions and
technical parameters underpinning the estimates continue to apply.
Material assumptions for the Project have been revised on grant of
the Mining Lease for the Project, announced by the Company on 20
October 2023 in the announcement entitled, "Mining Lease Granted for Ewoyaa Lithium
Project". The Company is not aware of any
new information or data that materially affects the information
included in this announcement, the announcement dated 30 July 2024,
the announcement dated 29 June 2023, or the announcement dated 20
October 2023.
2 Ewoyaa to become one of the largest spodumene concentrate
producers globally - Based on a comparison of targeted spodumene
concentrate production capacity (ktpa, 100% basis) of select hard
rock spodumene projects globally (refer
Company presentation dated 8
September 2023).
Competent Persons
Information in this announcement
relating to Mineral Resources was compiled by Shaun Searle, a
Member of the Australian Institute of Geoscientists. Mr
Searle has sufficient experience that is relevant to the style of
mineralisation and type of deposit under consideration and to the
activity being undertaken to qualify as a Competent Person as
defined in the 2012 Edition of the 'Australasian Code for Reporting
of Exploration Results, Mineral Resources and Ore Reserves' and is
a Qualified Person under the AIM Rules. Mr Searle is a director of
Ashmore. Ashmore and the Competent Person are independent of the
Company and other than being paid fees for services in compiling
this report, neither has any financial interest (direct or
contingent) in the Company. Mr Searle consents to the inclusion in
the report of the matters based upon the information in the form
and context in which it appears.
Information in this announcement
relating to Ore Reserves was compiled by Mr Harry Warries. All
stated Ore Reserves are completely included within the quoted
Mineral Resources and are quoted in dry tonnes. Mr Warries is a
Fellow of the Australasian Institute of Mining and Metallurgy and
an employee of Mining Focus Consultants Pty Ltd. He has sufficient
experience, relevant to the style of mineralisation and type of
deposit under consideration and to the activity he is undertaking,
to qualify as a Competent Person as defined in the 'Australasian
Code for Reporting of Mineral Resources and Ore Reserves' of
December 2012 ("JORC Code") as prepared by the Joint Ore Reserves
Committee of the Australasian Institute of Mining and Metallurgy,
the Australian Institute of Geoscientists and the Minerals Council
of Australia. Mr Warries gives Atlantic Lithium Limited consent to
use this reserve estimate in reports.
The Company confirms that the form
and context in which the Competent Persons' findings are presented
have not been materially modified from the original market
announcement.