REG - Atlantic Lithium Ltd - TR-1 Notification of Major Holdings
16/12/2024 07:00
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RNS Number : 1964Q Atlantic Lithium Limited 16 December 2024
16 December 2024
TR-1 Notification of Major Holdings
Atlantic Lithium Limited (AIM: ALL, ASX: A11, GSE: ALLGH, OTCQX: ALLIF,
"Atlantic Lithium" or the "Company"), the Africa-focused lithium exploration
and development company targeting the delivery of Ghana's first lithium mine,
wishes to announce that the Company has received the following TR-1
notification from major shareholder Assore International Holdings Limited
("Assore").
The notification follows Assore's purchase of Tranche 2 Shares in line with
the Company's successful Equity Placing (refer announcement of 25 October
2024) and shareholder approval of Resolution 11 at the Company's Annual
General Meeting ("AGM"), held on 29 November 2024.
The voting rights of Assore currently sit at 30.56% of the total issued
capital of the Company.
TR-1: Standard form for notification of major holdings
NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the
FCA in Microsoft Word format if possible) (i)
1a. Identity of the issuer or the underlying issuer of existing shares to Atlantic Lithium Limited
which voting rights are attached (ii):
1b. Please indicate if the issuer is a non-UK issuer (please mark with an
"X" if appropriate)
Non-UK issuer X
2. Reason for the notification (please mark the appropriate box or boxes with
an "X")
An acquisition or disposal of voting rights X
An acquisition or disposal of financial instruments
An event changing the breakdown of voting rights
Other (please specify) (iii):
3. Details of person subject to the notification obligation (iv)
Name Assore International Holdings Limited
City and country of registered office (if applicable) Winchester, United Kingdom
4. Full name of shareholder(s) (if different from 3.) (v)
Name
City and country of registered office (if applicable)
5. Date on which the threshold was crossed or reached (vi): 11 / 12 / 2024
6. Date on which issuer notified (DD/MM/YYYY): 12 / 12 / 2024
7. Total positions of person(s) subject to the notification obligation
% of voting rights attached to shares (total of 8. A) % of voting rights through financial instruments Total of both in % (8.A + 8.B) Total number of voting rights held in issuer (8.A + 8.B) (vii)
(total of 8.B 1 + 8.B 2)
Resulting situation on the date on which threshold was crossed or reached 30.56 30.56 211,800,865
Position of previous notification (if 27.16 27.16 179,025,852
applicable)
8. Notified details of the resulting situation on the date on which the
threshold was crossed or reached (viii)
A: Voting rights attached to shares
Class/type of Number of voting rights (ix) % of voting rights
shares
ISIN code (if possible)
Direct Indirect Direct Indirect
(DTR5.1) (DTR5.2.1) (DTR5.1) (DTR5.2.1)
AU0000237554 211,800,865 30.56
SUBTOTAL 8. A 211,800,865 30.56
B 1: Financial Instruments according to DTR5.3.1R (1) (a)
Type of financial instrument Expiration Exercise/ Number of voting rights that may be acquired if the instrument is % of voting rights
date (x)
Conversion Period (xi)
exercised/converted.
SUBTOTAL 8. B 1
B 2: Financial Instruments with similar economic effect according to DTR5.3.1R
(1) (b)
Type of financial instrument Expiration Exercise/ Physical or cash Number of voting rights % of voting rights
date (x)
Conversion Period (xi)
Settlement (xii)
SUBTOTAL 8.B.2
9. Information in relation to the person subject to the notification
obligation (please mark the
applicable box with an "X")
Person subject to the notification obligation is not controlled by any natural X
person or legal entity and does not control any other undertaking(s) holding
directly or indirectly an interest in the (underlying) issuer (xiii)
Full chain of controlled undertakings through which the voting rights and/or
the
financial instruments are effectively held starting with the ultimate
controlling natural person or legal entity (please add additional rows as
necessary) (xiv)
Name (xv) % of voting rights if it equals or is higher than the notifiable threshold % of voting rights through financial instruments if it equals or is higher Total of both if it equals or is higher than the notifiable threshold
than the notifiable threshold
10. In case of proxy voting, please identify:
Name of the proxy holder
The number and % of voting rights held
The date until which the voting rights will be held
11. Additional information (xvi)
Place of completion Johannesburg, South Africa
Date of completion 12 December 2024
For any further information, please contact:
Atlantic Lithium Limited
Neil Herbert (Executive Chairman)
Amanda Harsas (Finance Director and Company Secretary)
www.atlanticlithium.com.au
IR@atlanticlithium.com.au
Tel: +61 2 8072 0640
SP Angel Corporate Finance LLP Yellow Jersey PR Limited Canaccord Genuity Limited
Nominated Adviser Charles Goodwin Financial Adviser:
Jeff Keating Bessie Elliot Raj Khatri (UK) /
atlantic@yellowjerseypr.com (mailto:atlantic@yellowjerseypr.com)
Charlie Bouverat
Duncan St John, Christian Calabrese (Australia)
Tel: +44 (0)20 3004 9512
Tel: +44 (0)20 3470 0470
Corporate Broking:
James Asensio
Tel: +44 (0) 20 7523 4500
Notes to Editors:
About Atlantic Lithium
www.atlanticlithium.com.au (http://www.atlanticlithium.com.au/)
Atlantic Lithium is an AIM, ASX, GSE and OTCQX-listed lithium company
advancing its flagship project, the Ewoyaa Lithium Project, a significant
lithium spodumene pegmatite discovery in Ghana, through to production to
become the country's first lithium-producing mine.
The Definitive Feasibility Study for the Project indicates the production of
3.6Mt of spodumene concentrate over a 12-year mine life, making it one of the
largest spodumene concentrate mines in the world.(1 2)
The Project was awarded a Mining Lease in October 2023, an Environmental
Protection Agency ("EPA") Permit in September 2024, and a Mine Operating
Permit in October 2024 and is being developed under an earn-in agreement with
Piedmont Lithium Inc.
The Ewoyaa Mineral Resource Estimate (JORC) totals 36.8Mt @ 1.24% Li(2)O and
includes 3.7Mt @ 1.37% Li₂O in the Measured category, 26.1Mt @ 1.24% Li₂O
in the Indicated category and 7.0Mt @ 1.15% Li₂O in the Inferred
category.(1) Ore Reserves (Probable) of 25.6Mt @ 1.22% Li(2)O have been
reported for the Project. (1)
Atlantic Lithium holds a portfolio of lithium projects within 509km(2) and
771km(2) of granted and under-application tenure across Ghana and Côte
d'Ivoire respectively, which, in addition to the Project, comprises
significantly under-explored, highly prospective licences.
End Note
(1) Ore Reserves, Mineral Resources and Production Targets
The information in this announcement that relates to Exploration Results, Ore
Reserves, Mineral Resources and Production Targets complies with the 2012
Edition of the Australasian Code for Reporting of Exploration Results, Mineral
Resources and Ore Reserves (JORC Code). The information in this announcement
relating to the Mineral Resource Estimate ("MRE") of 36.8Mt @ 1.24% Li₂O for
the Ewoyaa Lithium Project ("Ewoyaa" or the "Project") is extracted from the
Company's announcement entitled "New Dog-Leg Target Delivers Increase to
Ewoyaa MRE", dated 30 July 2024, which is available at
www.atlanticlithium.com.au (http://www.atlanticlithium.com.au) . The MRE
includes a total of 3.7Mt @ 1.37% Li₂O in the Measured category, 26.1Mt @
1.24% Li₂O in the Indicated category and 7.0Mt @ 1.15% Li₂O in the
Inferred category. The information in this announcement relating to the Ore
Reserves (Probable) of 25.6Mt @ 1.22% Li(2)O and relating to the Production
Target of 3.6Mt of spodumene concentrate over a 12-year mine life is extracted
from the Company's announcement entitled "Ewoyaa Lithium Project Definitive
Feasibility Study", dated 29 June 2023, which is available at
www.atlanticlithium.com.au (http://www.atlanticlithium.com.au) . The Company
confirms, in the case of Mineral Resources, Ore Reserves and Production
Targets, that all material assumptions and technical parameters underpinning
the estimates continue to apply. Material assumptions for the Project have
been revised on grant of the Mining Lease for the Project, announced by the
Company on 20 October 2023 in the announcement entitled, "Mining Lease Granted
for Ewoyaa Lithium Project". The Company is not aware of any new information
or data that materially affects the information included in this announcement,
the announcement dated 30 July 2024, the announcement dated 29 June 2023, or
the announcement dated 20 October 2023.
(2) Ewoyaa to become one of the largest spodumene concentrate producers
globally - Based on a comparison of targeted spodumene concentrate production
capacity (ktpa, 100% basis) of select hard rock spodumene projects globally
(refer Company presentation dated 8 September 2023).
Competent Persons
Information in this announcement relating to Mineral Resources was compiled by
Shaun Searle, a Member of the Australian Institute of Geoscientists. Mr
Searle has sufficient experience that is relevant to the style of
mineralisation and type of deposit under consideration and to the activity
being undertaken to qualify as a Competent Person as defined in the 2012
Edition of the 'Australasian Code for Reporting of Exploration Results,
Mineral Resources and Ore Reserves' and is a Qualified Person under the AIM
Rules. Mr Searle is a director of Ashmore. Ashmore and the Competent Person
are independent of the Company and other than being paid fees for services in
compiling this report, neither has any financial interest (direct or
contingent) in the Company. Mr Searle consents to the inclusion in the report
of the matters based upon the information in the form and context in which it
appears.
Information in this announcement relating to Ore Reserves was compiled by Mr
Harry Warries. All stated Ore Reserves are completely included within the
quoted Mineral Resources and are quoted in dry tonnes. Mr Warries is a Fellow
of the Australasian Institute of Mining and Metallurgy and an employee of
Mining Focus Consultants Pty Ltd. He has sufficient experience, relevant to
the style of mineralisation and type of deposit under consideration and to the
activity he is undertaking, to qualify as a Competent Person as defined in the
'Australasian Code for Reporting of Mineral Resources and Ore Reserves' of
December 2012 ("JORC Code") as prepared by the Joint Ore Reserves Committee of
the Australasian Institute of Mining and Metallurgy, the Australian Institute
of Geoscientists and the Minerals Council of Australia. Mr Warries gives
Atlantic Lithium Limited consent to use this reserve estimate in reports.
The Company confirms that the form and context in which the Competent Persons'
findings are presented have not been materially modified from the original
market announcement.
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