Equity Analysis /
United Kingdom

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

    Tom Price
    Tom Price

    Analyst - Strategy, Accounting and Sustainability

    Contributors
    Yuen Low
    Ben Davis
    CGS-CIMB
    25 March 2022
    Published by

    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.