Atlantic Lithium Shareholders Action Group

We are Atlantic Lithium Shareholders and we are passionate about extracting full value from our long term investment in the Ewoyaa project. We are equally committed to ensuring all Ghanaians share in the benefits of this globally significant Lithium project.

@Atlanticlithium shareholders are being asked to accept a 10.8% premium to hand over control of one of the lowest cost shovel ready #lithium development projects in the western hemisphere. Some simple numbers cross referencing the valuation on ZHC take'under' proposal: o ZHC paying $71m for $ELV 22.5% stake in Ewoyaa o Values 100% of Ewoyaa at $315m o #ALL $A11 own 58.5% of the project ($ELV 22.5%, MIIF 6%, Govt free carry 13%) o => #ALL $A11 stake valued at $184m o #ALL $A11 net cash of $13.9m at end last Q o Assume $3.5m of cash burn/q til deal close at Y/E (no idea what they are spending this on!!!!) o =>Y/E end cash ~$3.4m. o ZHC offer at $210m, less $3.4m cash, less $184m for stake in Ewoyaa - implies ZHC paying $22.6m for change of control and exploration upside in Ghana and Cote d'Ivoire. All when SC6 is trading >$2000/tn and AISC is close to $700!!! #ALL $A11 @AtlanticLithium are being taken for a ride

Following the recent announcement by @AtlanticLithium earlier today, we provided our response to the company #lithium

Very interesting to see this transaction from Global Lithium Resources recently that included a $75m USD offtake pre-pay with a $1000 floor and no upside! Talk about a tight market. Not the only one we've seen. Why weren't $A11 #ALL been able to replicate this for Ewoyaa funding?

Ewoyaa DFS flagged $1.5billion NPV and 105% IRR with $377 cash cost using a LOM spodumene price of $1587t. Current price $2,700/t #Lithium #ALL

@WayneHines24470 Wayne, there is lot of water to go under the bridge before the vote.

@AtlanticLithSAG Clearly many will be voting against this, but key question.. Do you have access to alternate source of capital and support of sufficient number of share[holder]s to support a spill of the BoD? Some months ago, I suggested a change of management required, which fell of deaf ears.

This very conservative DFS with its $1587 LOM spodumene price values #ALL 62.775% share of the ewoyaa project NPV at $941m. The proposed offer for #ALL for $210m equates to 22.3c/$ of NPV. This is ludicrous given the strength of both the lithium macro and the Ewoyaa metrics

2023 DFS summary for the Ewoyaa project. Outstanding metrics including 105% IRR, this project is an absolute screamer. LOM spodumene price used for the DFS $1587 vs £2810 today. Payback likely even shorter than 19 months #Lithium DYOR

We are Atlantic Lithium Shareholders and we are passionate about extracting full value from our long term investment in the Ewoyaa project. We are equally committed to ensuring all Ghanaians share in the benefits of this globally significant Lithium project.