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Atlantic Lithium
Overview
Atlantic Lithium Limited (AIM: ALL, ASX: A11,GSE: ALLGH, OTCQX:ALLIF) is an African-focused lithium exploration and development company advancing its flagship Ewoyaa Lithium project through to production as Ghana’s first lithium mine. Despite its long mining history, favourable regulatory climate and stable political backdrop, Ghana remains largely overlooked as an investment jurisdiction for battery metals. Situated on the West African coast, the country boasts a strong strategic location, between Europe, the Americas and Asia, to serve the global battery metals market. Ghana is also home to an abundance of mineral wealth, with c. 180,000 tonnes of estimated lithium resources.
Atlantic Lithium intends to produce spodumene concentrate capable of conversion to lithium hydroxide and carbonate for use in electric vehicle batteries, helping drive the transition to decarbonisation.
A definitive feasibility study (DFS) released in June 2023 shows that considering the 35.3 million tons (Mt) @ 1.25 per cent lithium oxide JORC Mineral Resource Estimate, that the Company announced in February 2023, and conservative long-term concentrate pricing of US$1,410/t, FOB Ghana, Ewoyaa has demonstrable economic viability, low capital intensity and excellent profitability.
Through simple open-pit mining, three-stage crushing and conventional Dense Media Separation (DMS) processing, the DFS (also considering the fiscal terms agreed upon the grant of the Mining Lease for the Project in October 2023) outlines the production of 3.6 Mt of spodumene concentrate over a 12-year mine life, delivering US$6.6 billion life-of-mine revenues, a post-tax NPV8 of US$1.3 billion and an internal rate of return of 94 percent.
The project is expected to deliver nameplate production from its plant as early as 2026.
Project Funding
The development of the project is co-funded under an agreement with NASDAQ and ASX-listed Piedmont Lithium (ASX:PLL), with Piedmont expected to fund c. 70 percent of the US$185 million total development expenditure indicated by the DFS.
In accordance with the agreement, Piedmont has completed funding of US$25 million towards studies and exploration, and will sole fund an initial US$70 million, plus 50 percent of costs thereafter (shared 50:50 between Atlantic Lithium and Piedmont), towards the total development expenditure for the Project, as indicated by the DFS.
In return, Piedmont will receive 50 percent of the spodumene concentrate produced at Ewoyaa, providing a route to consumers through several major battery manufacturers, including Tesla.
The Minerals Income Investment Fund (MIIF), Ghana’s minerals sovereign wealth fund, has also agreed to invest a total of US$32.9 million in the company and at the project-level to expedite the development of the project.
Representing the first part of the Strategic Investment, MIIF completed a Subscription for US$5 million Atlantic Lithium shares in January 2024, to become a major strategic shareholder in the company.
Representing the second part of the Strategic Investment, MIIF has agreed to invest, subject to the company reaching a binding agreement with MIIF, US$27.9 million in the company's Ghanaian subsidiaries to acquire a 6 percent contributing interest in the project. The US$27.9 million project-level investment and the contributing interest are expected to take the form of funding for development, exploration and studies expenditure to support the advancement of the project.
In addition, Atlantic Lithium is in the final stages of a competitive offtake partnering process to secure funding for a portion of the remaining 50 percent available feedstock from Ewoyaa.
The objective of the process is to attract funding offers to sufficiently cover the Company's allocation of development expenditure for the Project, to expedite and de-risk the development of the Project, realise attractive terms for any offtake contracted and secure a well-credentialled partner that will support the company's and Ghana's objectives of supplying lithium into the global electric vehicle market.
The Company has indicated its preferred terms of up to 500,000t of spodumene concentrate to be contracted over a 3-5-year period, using a favourable market-based pricing mechanism, for a consideration of up to US$100 million in the form of a pre-payment arrangement, which is expected to sufficiently cover the Company’s allocation of development expenditure.
Ghana
Ghana is a well-established mining region with access to reliable, existing infrastructure and a significant mining workforce. There are currently 16 operating mines in the country.
Already the largest taxpayer and employer in Ghana’s Central Region, Atlantic Lithium is expected to provide direct employment to over 800 personnel at Ewoyaa and, through its community development fund, whereby 1 percent of profits will be allocated to local initiatives, will deliver long-lasting benefits to the region and Ghana.
Through its proven lithium discovery, exploration and evaluation methodologies, Atlantic Lithium has the potential to capitalise on its extensive exploration portfolio and deliver upon its objectives of becoming a leading producer of lithium in West Africa.
Company Highlights
- A lithium exploration and development company operating in West Africa, Atlantic Lithium is set to deliver its flagship Ewoyaa Lithium Project as Ghana’s first lithium-producing mine.
- The June 2023 Definitive Feasibility Study for the Project indicates the production of 3.6Mt of spodumene concentrate over a 12-year mine life (steady state production of 365,000 tonnes per annum), making it one of the largest mines by production capacity globally.
- The DFS confirms Ewoyaa as one of the lowest capital and operating cost hard rock lithium projects globally, with strong commercial viability and exceptional profitability potential.
- The Ewoyaa Lithium Project was awarded a Mining Lease in October 2023 and is co-funded under an agreement with Piedmont Lithium. Atlantic Lithium holds a portfolio of lithium projects within 509km2 and 774km2 of granted and under-application tenure across Ghana and Côte d'Ivoire respectively.
Key Assets
Ewoyaa
Atlantic Lithium's flagship Ewoyaa Lithium Project is situated within 110 kilometres of Takoradi Port and 100 kilometres of Accra, with access to excellent infrastructure and a skilled local workforce.
Atlantic Lithium was granted a Mining Lease in respect of the Project in October 2023. The Company is currently advancing the Project through the permitting process towards production.
Highlights:
- Promising DFS Results: Atlantic Lithium's DFS reaffirmed Ewoyaa as an industry-leading asset with low capital intensity and excellent profitability. Highlights include:
- Estimated 12-year life of mine, producing 3.6 Mt spodumene concentrate.
- 365 ktpa steady state production
- Average LOM EBITDA of US$316 million per annum
- NPV of US$1.3 billion
- Life-of-mine revenues of US$6.6 billion
- Modest $185 million development expenditure
- Robust US$675/t All in sustaining cost and US$377 C1 cash cost.
- Favourable Location: The project's starter pits are positioned within one kilometre of its processing plant. Additionally, Ewoyaa has access to reliable existing infrastructure, located within 800 metres from the N1 highway and adjacent to grid power.
- Promising Reserves: Ewoyaa's current mineral resource estimate is 35.3 Mt at 1.25 percent lithium oxide, with ore reserves of 25.6 Mt at 1.22 percent lithium oxide.
- Potential for Further Exploration: There remains significant exploration potential, with only 1 percent of Atlantic Lithium's total tenure having been drilled to date.
- Strong Partnerships: Atlantic Lithium has a 50-percent offtake deal with Piedmont Lithium, which itself has offtake agreements with both Tesla and LG Chem, and has an agreed with Ghana’s Minerals Income Investment Fund to expedite the development of the Project.
- Positive Presence: Atlantic Lithium will generate significant economic benefits for the region. Once operational, the project is expected to employ over 800 personnel and deliver approximately US$4.9 billion in value to Ghana, including through taxes, royalties, employment and local procurement.
Côte d'Ivoire
Atlantic Lithium currently has two applications pending for an area of roughly 774 square kilometres in the West African country of Côte d'Ivoire. The underexplored yet highly prospective region is known to be underlain by prolific birimian greenstone belts, characterised by fractionated granitic intrusive centres with lithium and colombite-tantalum occurrences and outcropping pegmatites. The area is also incredibly well-served, with extensive road infrastructure, well-established cellular network and high-voltage transmission line within 100 kilometres of the country's economic capital, Abidjan.
Management Team
Neil Herbert - Executive Chairman
Neil Herbert is a fellow of the Association of Chartered Certified Accountants and has over 30 years of experience in finance. He has been involved in growing mining and oil and gas companies, both as an executive and as an investor, for over 25 years.
Until May 2013, he was co-chairman and managing director of AIM-quoted Polo Resources, a natural resources investment company. Prior to this, Herbert was a director of resource investment company Galahad Gold, after which he became finance director of its most successful investment, the start-up uranium company UraMin, from 2005 to 2007. During this period, he worked to float the company on AIM and the Toronto Stock Exchange in 2006, raise US$400 million in equity financing and negotiate the sale of the group for US$2.5 billion.
Herbert has held board positions at a number of resource companies where he has been involved in managing numerous acquisitions, disposals, stock market listings and fundraisings. He holds a joint honours degree in economics and economic history from the University of Leicester.
Keith Muller - Chief Executive Officer
Keith Muller is a mining engineer with over 20 years of operational and leadership experience across domestic and international mining, including in the lithium sector. He has a strong operational background in hard rock lithium mining and processing, particularly in DMS spodumene processing.
Before joining Atlantic Lithium, he held roles as both a business leader and general manager at Allkem, where he worked on the Mt Cattlin lithium mine in Western Australia and, prior to that, Muller served as operations manager and senior mining engineer at Simec.
Muller holds a Master of Mining Engineering from the University of New South Wales and a Bachelor of Engineering from the University of Pretoria. He is also a member of the Australian Institute of Mining and Metallurgy, the Board of Professional Engineers of Queensland, and the Engineering Council of South Africa.
Amanda Harsas - Finance Director and Company Secretary
Amanda Harsas is a senior finance executive with a demonstrable track record and over 25 years’ experience in strategic finance, business transformation, commercial finance, customer and supplier negotiations and capital management. Prior to joining Atlantic Lithium, she worked in several sectors, including healthcare, insurance, retail and professional services, across Asia, Europe and the U.S. Harsas holds a Bachelor of Business from the University of Technology, Sydney and is a member of Chartered Accountants Australia and New Zealand and the Australian Institute of Company Directors.
Kieran Daly - Non-executive Director
Kieran Daly is the executive of Growth and Strategic Development at Assore. He holds a BSc Mining Engineering from Camborne School of Mines (1991) and an MBA from Wits Business School (2001) and worked in investment banking/equity research for more than 10 years at UBS, Macquarie and Investec, prior to joining Assore in 2018.
Daly spent the first 15 years of his mining career at Anglo American’s coal division (Anglo Coal) in a number of international roles including operations, sales and marketing, strategy and business development. Among his key roles were leading and developing Anglo Coal's marketing efforts in Asia and to steel industry customers globally. He was also the Global Head of Strategy for Anglo Coal immediately prior to leaving Anglo in 2007.
Christelle Van Der Merwe - Non-executive Director
Christelle Van Der Merwe is a mining geologist responsible for the mining-related geology and resources of Assore’s subsidiary companies (comprising the pyrophyllite and chromite mines) and is also concerned with the company's iron and manganese mines. She has been the Assore group geologist since 2013 and is involved with the strategic and resource investment decisions of the company. Van Der Merwe is a member of SACNASP and the GSSA.
Edward Nana Yaw Koranteng - Non-executive Director
Edward Koranteng is a lawyer and an experienced corporate and investment banker with over 23 years of experience. He has served as the chief executive officer of the Minerals Income Investment Fund (MIIF), Ghana’s sovereign minerals wealth fund, since 2021.
Prior to joining MIIF, Koranteng held the role of Business Head for East, Central and Southern Africa for Ghana International Bank plc ("GHIB"), where he was responsible for GHIB's energy and mining portfolio. He also worked with the Chase Bank Group (Kenya), now SBM Bank of Mauritius, as group head for energy, oil, gas and mining. Koranteng currently sits on the boards of Asante Gold Corporation, MIIF and Glico General Insurance Ltd.
Koranteng holds a BA (Hons) from the University of Ghana, a Master of Laws in International Banking and Finance from the University of Leeds in the UK, a Postgraduate Diploma from BPP Law School in the UK and the Ghana School of Law. He has practiced as a barrister in both the UK and Ghana and holds various executive and postgraduate certifications, including in oil, gas and mining from the Blavatnik School of Government, University of Oxford in the UK.
Jonathan Henry - Independent Non-executive Director
Jonathan Henry is an experienced Non-Executive Director, having held various leadership and board roles for nearly two decades. Henry has significant expertise working across capital markets, business development, project financing, key stakeholder engagement, and the reporting and implementation of ESG-focused initiatives. Henry has a wealth of experience projects towards production and commercialisation to deliver shareholder value.
Henry also serves as non-executive chair of Toronto Venture Exchange-listed (TSX-V) Giyani Metals Corporation, a battery development company advancing its portfolio of manganese oxide projects in Botswana, having previously held the role of executive chair. His previous roles include as executive chair and non-executive director at Ormonde Mining plc, non-executive director at Ashanti Gold Corporation, president, director and chief executive officer at Gabriel Resources Limited and various roles, including chief executive officer and managing director, at Avocet Mining PLC. He holds a BA (Hons) in Natural Sciences from Trinity College, Dublin.
Michael Bourguignon – Head of Capital Projects
Michael Bourguignon is a distinguished project management professional with a rich history of leading significant initiatives in the mining and energy sectors. Most recently, he served as the COO at Evolution Energy Minerals in Tanzania, where he managed the optimisation and update of the Definitive Feasibility Study, managed the Front-End Engineering Design package, and oversaw the completion of the Relocation Action Plan and other community-related works.
Prior to this, Bourguignon worked with Rio Tinto in Australia as a consulting construction manager, as well as Glencore’s Mopani Copper Mines in Zambia, where he was the project director for the Mopani Synclinorium Concentrator, and Syrah’s Balama Graphite Mine in Mozambique, where he was project director. He has also previously worked in Ghana and Cote d’Ivoire with Perseus Mining.
Bourguignon holds an MBA from Murdoch University and is a member of the Australian Institute of Project Management.
Andrew Henry – General Manager, Commercial and Finance
Andrew Henry is an accomplished General Manager with over a decade’s experience in the operational mining sector, specialising in strategy, planning and analysis, contracts, large-scale project development and site operations.
Before joining Atlantic Lithium, Henry held the role of commercial manager at global lithium chemicals company Allkem and, prior to that, he spent over four years with major gold mining company Newcrest Mining.
Henry holds a Bachelor of Commerce from the University of South Australia and is a member of CPA Australia.
Ahmed-Salim Adam – General Manager, Operations
Ahmed-Salim Adam is an experienced mining general manager with over 15 years of experience leading various large-scale projects in Ghana across all stages of mine development, production, and closure, with a focus on safety and sustainability.
Adam has previously held a number of leadership roles, including as senior consultant of Metallurgy at GEOMAN Consult Ltd, as a director for FGR Bogoso Prestea Ltd’s Refractory Project and as general manager at Golden Star Resources Ltd.
He holds a MPhil Minerals Engineering and a Bachelor of Science (Hons) in Mineral Engineering, both from the University of Mines and Technology, Ghana. He is also a member of The Institute of Materials, Minerals and Mining (IOM3) in the United Kingdom and the Australasian Institute of Mining and Metallurgy (AusIMM) in Australia.
Simone Horsfall - General Manager, People
Simone Horsfall joins Atlantic Lithium as General Manager, People with over 25 years of experience working across a broad range of industries, with a focus on the mining sector. Previously, Horsfall spent over a decade at AngloGold Ashanti Australia as human resources manager and, more recently, at 29Metals as group manager of human resources.
Horsfall holds a diploma in Human Resource Management, a university certificate in Psychology from Edith Cowan University, Sydney, and a post-graduate diploma in Human Resources from Deakin University.
Belinda Gethin – General Manager, Corporate Finance and Company Secretary
Belinda assumed the role of general manager, corporate - finance and company secretary in January 2024, having initially joined the company as financial reporting manager in June 2023. To her role at Atlantic Lithium, Gethin brings a wealth of experience in all aspects of statutory, financial and corporate reporting, including the preparation of financial statements and accounting for complex transactions. Before joining Atlantic Lithium, Gethin worked as the chief financial officer for Lumus Imaging and, prior to that, as the group reporting manager at Healius. Gethin is a chartered accountant and holds a Bachelor of Commerce from UNSW in Sydney, Australia.
Iwan Williams – General Manager, Exploration
Iwan Williams is an exploration geologist with over 20 years' experience across a broad range of commodities, principally iron ore, manganese, gold, copper (porphyry and sed. hosted), PGE's, nickel and other base metals, as well as chromitite, phosphates, coal and diamond.
Williams has extensive southern and west African experience and has worked in Central and South America. His experience includes all aspects of exploration management, project generation, opportunity reviews, due diligence and mine geology. He has extensive studies experience having participated in the delivery of multiple project studies including resource, mine design criteria, baseline environmental and social studies and metallurgical test-work programmes. He is very familiar with working in Africa having spent 23 years of his 28-year geological career in Africa. Williams is a graduate of the University of Liverpool.
Abdul Razak – Exploration Manager, Ghana
Abdul Razak has extensive exploration, resource evaluation and project management experience throughout West Africa with a strong focus on data-rich environments. He has extensive gold experience having worked throughout Ghana with AngloGold Ashanti, Goldfields Ghana, Perseus and Golden Star, as well as international exploration and resource evaluation experience in Burkina Faso, Liberia, Ivory Coast, Republic of Congo, Nigeria and Guinea.
Razak is an integral member of the team, managing all site activities including drilling, laboratory, local teams, geotech and hydro, community consultations and stakeholder engagements and was instrumental in establishment of the current development team and defining Ghana’s maiden lithium resource estimate.
CleanTech Lithium
Overview
CleanTech Lithium (AIM:CTL,FWB:T2N,OTC:CTLHF) is a resource exploration and development company with four lithium assets with an estimated 2.72 million tons (Mt) of lithium carbonate equivalent (LCE) in Chile, a world-renowned mining-friendly jurisdiction. The company aims to be a leading supplier of ‘green lithium’ to the electric vehicle (EV) market, leveraging direct lithium extraction (DLE) – a low-impact, low-carbon and low-water method of extracting lithium from brine.
Lithium demand is soaring as a result of a rapidly expanding EV market. One study estimates the world needs 2 billion EVs on the road to meet global net-zero goals. Yet, the gap between supply and demand continues to widen. As the world races to secure new supplies of the critical mineral, Chile has emerged as an ideal investment jurisdiction with mining-friendly regulations and a skilled local workforce to drive towards a clean green economy. Chile is already the biggest supplier of copper and second largest supplier of lithium.
With an experienced team in natural resources, CleanTech Lithium holds itself accountable to a responsible ESG-led approach, a critical advantage for governments and major car manufacturers looking to secure a cleaner supply chain.
Laguna Verde is at Pre-Feasibility Study stage, which is due to be delivered by Q4 2024. The project is targeted to be in ramp up production from 2027. Laguna Verde has a JORC resource estimate of 1.8 Mt of lithium carbonate equivalent (LCE) while Viento Andino boasts 0.92 Mt LCE, each supporting 20,000 tons per annum (tpa) production with a 30-year and 12-year mine life, respectively. The latest drilling programme at Laguna Verde finished in June 2024, results from which will be used to convert resources into reserves.
The lead project, Laguna Verde, will be developed first, after which Veinto Andino will follow suit using the design and experience gained from Laguna Verde, as the company works towards its goal of becoming a significant green lithium producer serving the EV market.
CleanTech Lithium’s pilot DLE plant in Copiapó was commissioned in the first quarter of 2024. The plant will process brine from both Laguna Verde and Viento Andino to produce lithium chloride eluate, which will then be converted into battery-grade lithium downstream through a third-party partner.
The Company is carrying out the necessary Environmental Impact Assessments in partnership with the local communities. The indigenous communities will provide valuable data that will be in included in the assessments. The company also has two prospective exploration projects.
Llamara project is a greenfield asset and in the Antofagasta region and is around 600 kilometers north of Laguna Verde and Veinto Andino. The project is located in the Pampa del Tamarugal basin, one of the largest basins in the Lithium Triangle.
Salar de Atacama/Arenas Blancas comprises 140 licenses covering 377 sq km in the Salar de Atacama basin, one of the leading lithium-producing regions in the world with proven mineable deposits of 9.2 Mt.
CleanTech Lithium is committed to an ESG-led approach to its strategy and supporting its downstream partners looking to secure a cleaner supply chain. In line with this, the company plans to use renewable energy and the eco-friendly DLE process across its projects. DLE is considered an efficient option for lithium brine extraction that makes the least environmental impact, with no use of evaporation ponds, no carbon-intensive processes and reduced levels of water consumption. In recognition, Chile’s government plans to prioritize DLE for all new lithium projects in the country.
CTL has a DLE Pilot Plant which is located in Copiapó with the capacity to produce up to 1 tonne per month of lithium carbonate. The company recently sent 24m3 batches of concentrated eluate to North America for further downstream processing. This will produce battery-grade lithium in the coming weeks and months. The company will share with potential customers across car and battery manufacturers.
CTL’s experienced management team, with expertise throughout the natural resources industry, leads the company towards its goal of producing green lithium for the EV market. Expertise includes geology, lithium extraction engineering and corporate administration.
Company Highlights
- CleanTech Lithium is a lithium exploration and development company with four notable lithium projects in Chile and a combined total resource of 2.72 million tonnes JORC estimate of lithium carbonate equivalent.
- The company leverages direct lithium extraction (DLE), an efficient method for extracting lithium brine that minimizes environmental impact and reduces production time and costs, resulting in high-quality, battery-grade lithium
- The company’s DLE pilot plant in Copiapó, Chile has commenced operation and started producing highly concentrated to be converted into battery-grade lithium for car and battery manufacturers to test and verify. The pilot plant can produce up to 1 tonne per month of lithium carbonate.
- CleanTech Lithium’s flagship projects, Laguna Verde and Viento Andino, are located near existing power sources and established transport infrastructure that can support the scalability of each project.
- The company also has two greenfield exploration projects in the region: Llamara and Salar de Atacama.
- The board consists of the former CEO of Collahuasi, the largest copper mine in the world, having held senior roles at Rio Tinto and BHP. In-country experience developing major commercial projects runs through-out the team.
- CTL’s operations are underpinned by an established ESG-focused approach - a critical priority for governments introducing regulations that require a cleaner supply chain to reach net-zero targets.
- The Company aims to become a leading supplier of ‘green’ lithium to the EV market through environmentally and socially sound practices across its assets and corporate culture.
Key Projects
Laguna Verde Lithium Project
217 sq km and features a sq km hypersaline lake at the low point of the basin with a large sub-surface aquifer ideal for DLE. Laguna Verde is the company’s most advanced asset,
Project Highlights:
- Prolific JORC-compliant Resource Estimate: As of July 2023, the asset has a JORC-compliant resource estimate of 1.8 Mt of LCE at a grade of 200 mg/L lithium.
- Environmentally Friendly Extraction: The company’s asset is amenable to DLE. Instead of sending lithium brine to evaporation ponds, DLE uses a unique process where resin extracts lithium from brine, and then re-injects the brine back into the aquifer, with minimal depletion of the resources. The DLE process reduces the impact on environment, water consumption levels and production time compared with evaporation ponds and hard-rock mining methods.
- DLE Pilot Plant: The pilot DLE plant in Copiapo was commissioned in the first quarter of 2024, and will process brine from both Laguna Verde and Viento Andino to produce lithium chloride eluate, which will then be converted into battery-grade lithium downstream through a third-party partner.
- Scoping Study: Scoping study completed in January 2023 indicated a production of 20,000 tons per annum LCE and an operational life of 30 years. Highlights of the study also includes:
- Total revenues of US$6.3 billion
- IRR of 45.1 percent and post-tax NPV8 of US$1.8 billion
- Net cash flow of US$215 million
Viento Andino Lithium Project
CleanTech Lithium’s second-most advanced asset covers 127 square kilometers and is located within 100 km of Laguna Verde, with a current resource estimate of 0.92 Mt of LCE, including an indicated resource of 0.44 Mt LCE. The company’s planned second drill campaign aims to extend known deposits further.
Project Highlights:
- 2022 Lithium Discovery: Recently completed brine samples from the initial drill campaign indicate an average lithium grade of 305 mg/L.
- JORC-compliant Estimate: The inferred resource estimate was recently upgraded from 0.5 Mt to 0.92 Mt of LCE at an average grade of 207 mg/L lithium, which now includes 0.44 million tonnes at an average grade of 221 mg/L lithium in the indicated category.
- Scoping Study: A scoping study was completed in September 2023 indicating a production of up to 20,000 tons per annum LCE for an operational life of more than 12 years. Other highlights include:
- Net revenues of US$2.5 billion
- IRR of 43.5 percent and post-tax NPV 8 of US$1.1 billion
- Additional Drilling: Once drilling at Laguna Verde is completed in 2024, CleanTech Lithium plans to commence further drilling at Viento Andino for a potential resource upgrade.
Llamara Lithium Project
The Llamara project is one of the largest greenfield basins in the Lithium Triangle, covering 605 square kilometers in the Pampa del Tamarugal, one of the largest basins in the Lithium Triangle. Historical exploration results indicate blue-sky potential, prompting the company to pursue additional exploration.
Project Highlights:
- Promising Historical Exploration: The asset has never been drilled; however, salt crust surface samples indicate up to 3,100 parts per million lithium. Additionally, historical geophysics lines indicate a large hypersaline aquifer. Both of these exploration results indicate potential for significant future discoveries.
- Close Proximity to Existing Operations: The Llamara project is near other known deposits:
- Atacama (SQM / Abarmale): 18,100 square kilometers
- Hombre (Muerto Livent): 4,000 square kilometers
- Pampa del Tamarugal (CleanTech): 17,150 square kilometers
Arenas Blancas
The project comprises 140 licences covering 377 sq km in the Salar de Atacama basin, a known lithium region with proven mineable deposits of 9.2 Mt and home to two of the world’s leading battery-grade lithium producers SQM and Albermarle. Following the granting of the exploration licences in 2024, the Cleantech Lithium is designing a work programme for the project
The Board
Steve Kesler - Executive Chairman and Interim CEO
Steve Kesler has 45 years of executive and board roles experience in the mining sector across all major capital markets including AIM. Direct lithium experience as CEO/director of European Lithium and Chile experience with Escondida and as the first CEO of Collahuasi, previously held senior roles at Rio Tinto and BHP.
Gordon Stein - Chief Financial Officer
Gordon Stein is a commercial CFO with over 30 years of expertise in the energy, natural resources and other sectors in both executive and non-executive director roles. As a chartered accountant, he has worked with start-ups to major companies, including board roles of six LSE companies.
Maha Daoudi - Independent Non-executive Director
Maha Daoudi has more than 20 years of experience holding several Board and senior-level positions across commodities, energy transition, finance and tech-related industries, including a senior role with leading commodity trader, Trafigura. Daoudi holds expertise in offtake agreements, developing international alliances and forming strategic partnerships.
Tommy McKeith - Independent Non-executive Director
Tommy McKeith is an experienced public company director and geologist with over 30 years of mining company leadership, corporate development, project development and exploration experience. He's held roles in an international mining company and across several ASX-listed mining companies. McKeith currently serves as non-executive director of Evolution Mining and as non-executive chairman of Arrow Minerals. Having worked in bulk, base and precious metals across numerous jurisdictions, including operations in Canada, Africa, South America and Australia, McKeith brings strategic insights to CTL with a strong focus on value creation.
Jonathan Morley-Kirk - Senior Independent Non-executive Director
Jonathan Morley-Kirk brings 30 years of experience, including 17 years in non-executive director roles with expertise in financial controls, audit, remuneration, capital raisings and taxation/structuring.
Atlantic Lithium Investor Kit
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