Atlantic Lithium (ALL) Q4 2024 TU earnings summary

Executive summary

• Advanced permitting for Ewoyaa Lithium Project, including final EPA public hearing and draft EIS submission.

• Mining Lease submitted to Ghana's parliament for ratification, a key step toward construction.

• Listed entire share capital on Ghana Stock Exchange, enhancing local stakeholder engagement.

• Appointed MIIF CEO Edward Koranteng as Non-Executive Director following MIIF's US$5m investment.

• Fatal incident at Ewoyaa site post-period, with operations resuming after regulatory review.

Financial highlights

• Cash on hand at quarter-end was A$12.7m, with no debt.

• Quarterly cash outflows: A$2.5m operating, A$5.7m exploration/feasibility/development.

• Piedmont Lithium contributed A$4.4m during the quarter under the co-development agreement.

• Estimated 1.6 quarters of funding available at current expenditure rates.

Outlook and guidance

• Awaiting Mining Lease ratification, expected in current or next parliamentary session.

• Main DMS plant commissioning targeted for H1 2026, subject to permitting.

• Ongoing offtake partnering process and MIIF's US$27.9m project-level investment to support funding.

• Step-out drilling and new exploration targets planned to further grow resources.