Aim-listed Africa-focussed lithium explorer and developer Atlantic Lithium reports that incoming nonboard COO Keith Muller has assumed his new role in the company.
As part of his employment contract, Atlantic will issue Muller with four-million shares, half of which are at a strike price of 60p apiece and the remaining shares at 70p a piece, which will expire two years from issue.
The shares will be issued on November 28.
Atlantic is focussed on developing Ghana's first lithium mine – the Ewoyaa lithium project, with a mineral resource estimate of 30.1-million tons grading at 1.26% lithium oxide, including 20.5-million t at 1.29% lithium oxide in the indicated category and 9.6-million tons at 1.19% lithium oxide in the inferred category.
The project is proven to produce a premium spodumene product suitable for conversion for use in batteries.
Atlantic also has a 774 km2 lithium project in Côte d'Ivoire.