Equity Analysis /
United Kingdom

GB : Atlantic Lithium - Resources upped 42%, beats short-term target; very good potential for more

    Tom Price
    Tom Price

    Analyst - Strategy, Accounting and Sustainability

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

    The late Vincent Mascolo would be very proud of today’s news: resources at Atlantic’s Ewoyaa spodumene lithium project in Ghana have increased 42%, to 30.1Mt @ 1.26% Li2O (0.5% cut-off). This comfortably bettered Atlantic’s short-term targets of a >80% Inferred-to-Indicated conversion rate and >24Mt. And there remains ample potential for further resource upgrades from exploration at Ewoyaa and its surrounds. We reiterate our BUY rating.