Atlantic Lithium starts trading on the Ghana Stock Exchange

AFRICAN STOCKS AND FINANCEMay 20, 2024 at 4:12 PM UTC

TLDR

Atlantic Lithium Limited, leading the development of Ghana's first lithium mine, lists shares on Ghana Stock Exchange
Shares launched at 4.40 cedis each at Accra debut, projecting Ewoyaa Mine as Africa's third-largest hard rock lithium project
Company listed on GSE, Australian Securities Exchange, and London Stock Exchange AIM Board; Not seeking new capital in Ghana currently

Atlantic Lithium Limited, an Australian company leading the development of Ghana's first lithium mine, has listed all its outstanding shares on the Ghana Stock Exchange (GSE). At launch in Accra last Monday, the shares opened at 4.40 cedis ($0.31) each.

The company, which focuses on lithium, is also listed on the Australian Securities Exchange and the London Stock Exchange AIM Board. Its Ewoyaa Mine in Ghana is projected to become Africa's third-largest hard rock lithium project.

Despite the new listing on the GSE, Atlantic Lithium has not yet commenced production and is not seeking to raise new capital in Ghana at this time.

Key Takeaways

Atlantic Lithium began trading on the Ghana Stock Exchange on May 13, with executive chairman Neil Herbert expressing confidence that the recent slump in lithium prices will not adversely impact the prospects of the company's Ewoyaa project. The price of lithium dropped significantly from record highs above $80,000 per metric ton in 2022 to below $14,000 early this year, though it saw a modest recovery to $16,000 in March. The company's next major steps include securing ratification of its 15-year mining lease by the Ghanaian parliament and making a final investment decision to commence production before the end of the year. Despite the market fluctuations, Herbert remains optimistic about the project's potential.

Ghana

Lithium

GSE

Ghana Stock Exchange

Finance

Stocks

Commodities

Accra

Mining

Ewoyaa Mine