GB : Atlantic Lithium - Len Kolff to take mantle of interim CEO

Following the tragic passing of CEO Vincent Mascolo earlier this month, COO Len Kolff is to become interim CEO and join Atlantic’s board. CFO Amanda Harsas has already been appointed to the board as Finance Director. Meanwhile, Piedmont Lithium (ASX: PLL) has completed a Preliminary Economic Assessment (PEA) on a lithium hydroxide plant that will source spodumene concentrate (SC6) largely from Atlantic’s flagship Ewoyaa project in Ghana. The PEA assumed an SC6 price of US$1,200/t, at which our Atlantic valuation would be 73p/share. We reiterate our BUY rating.