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

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.