Atlantic Lithium Ltd (listed on AIM: ALL, OTCQX: ALLIF, and ASX: A11) announced that the initial phase of a competitive bidding process for the remaining 50% output from its Ewoyaa project in Ghana has received multiple proposals, leading the company to progress to the second phase.
Executive Chairman Neil Herbert commented: “Ewoyaa, as one of the few upcoming spodumene producers with uncommitted offtake, has attracted considerable interest through our partnership process with Macquarie, even against the backdrop of declining lithium prices.
“Before starting the offtake partnership process, we experienced significant interest from various entities in the battery minerals sector, including Original Equipment Manufacturers (OEMs), battery megafactories, traders, and chemical processors.
“In the first stage, we evaluated non-binding indicative offers, and now we are advancing to Stage 2 with selected preferred parties.”
The proceeds from the offtake agreement are expected to finance the company’s portion of the development costs for the project.
