Neil Herbert, Executive Chairman of Atlantic Lithium #ALL discusses their quarterly activities and cash flow report underlining that Ewoyaa remains one of the lowest capital and operating cost hard rock lithium projects globally, which possesses strong commercial viability and exceptional profitability potential. Highlights Historic Mining Lease, the first for a lithium project in Ghana, granted in respect of the Company's flagship Ewoyaa Lithium Project ("Ewoyaa" or the "Project"). · Grant of the Mining Lease represents a major endorsement from the Government of Ghana and serves as a significant de-risking milestone for the advancement of the Project towards production. · The agreed terms of the Mining Lease position Ewoyaa as one of the lowest capital and operating cost hard rock lithium projects globally and indicate the Project's strong commercial viability and exceptional profitability for a 2.7Mtpa steady state operation, producing a total of 3.6Mt of spodumene concentrate (approximately 350,000tpa) over a 12-year mine life1: o Ewoyaa to become one of the top 10 largest spodumene concentrate producers1; o Payback period of main processing plant of 9.5 months; o C1 cash operating costs of US$377/t of concentrate Free-On-Board ("FOB") Ghana Port, after by-product credits, All in Sustaining Cost ("AISC") of US$675/t; o Development cost estimate of US$185m; to be substantially funded by Piedmont Lithium Inc. ("Piedmont") and planned investment by Ghana's sovereign wealth fund, the Minerals Income Investment Fund ("MIIF"); o Post-tax NPV8 of US$1.3bn, with free cash flow of US$2.1bn from Life of Mine ("LOM") revenues of US$6.6bn, considering a US$1,410/t long-term concentrate price, FOB Ghana. TO READ THE FULL RNS CLICK HERE

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