Ghana-focused lithium developer Atlantic Lithium has started trading on the ASX.
The company’s secondary listing for 22.8-million shares, at a price of A$0.58 apiece, was fully subscribed to investors in Australia, New Zealand, Hong Kong and Singagore, on September 26.
Atlantic on September 22 announced a prefeasibility study in its Ewoyaa lithium project, in Ghana, which confirms its strong earnings prospects.
The company finds it viable to put up a 255 000 t/y 6% lithium spodumene concentrate operation, for a capital cost of $125-million.
The board believes the ASX listing reflects the global demand for a sustainable supply of lithium to facilitate the transition to a lower carbon future, and will raise the Ewoyaa project’s profile in a robust resources market.
The dual listing also extends Atlantic’s shareholder base, enabling wider trading of its shares and providing greater liquidity for its shares.
“As an Australia-headquartered company, the listing also allows us to reinforce the close communication we have with an expanded group of Australian investors,” says chairperson Neil Herbert.