The Ghana Stock Exchange’s (GSE) Listing Committee and the Securities and Exchange Commission (SEC) have approved Atlantic Lithium Limited to list the company’s ordinary shares on the bourse.
This agreement signifies an important move for Atlantic Lithium as Ghana’s first near-term lithium producer to be listed on the GSE.
According to the GSE, the indicative price for the listing is set at GH₵3.34, based on the Primary Listing Market per the company’s prospectus.
Per the agreement, Black Star Brokerage Limited has been appointed Transaction Advisor, Sponsoring Broker and Arranger for the listing.
Overview and project details of the company
Atlantic Lithium is an African-focused lithium exploration and development company, with its flagship project being the Ewoyaa Lithium Project in Ghana’s Central Region. The Project is anticipated to become Ghana’s first lithium mine and is expected to produce 365,000 tonnes of spodumene concentrate annually, making it one of the largest spodumene mines globally.
The project received a significant boost with the grant of a Mining Lease by Ghana’s Minister of Lands and Natural Resources, paving the way for commercial production. Additionally, Ghana’s mineral sovereign wealth fund (MIIF) has become a major strategic shareholder, investing USD 5 million in Atlantic Lithium. This investment signifies the Ghanaian government’s strong support for the project.
Atlantic Lithium’s commitment
Atlantic Lithium’s listing on the GSE aims to broaden its investor base, increase visibility within Ghana and globally, and provide wealth creation opportunities for Ghanaians and local financial institutions. The company says commitment to the long-term development of Ghana’s economy is evident through its listing on the GSE, enabling local stakeholders to share ownership in the country’s critical mineral production objectives.
The listing on the GSE will not involve the issuance of new Atlantic Lithium shares, and it will have no impact on the company’s listings on AIM or the Australian Securities Exchange.
Commenting on the approval, Neil Herbert, Executive Chairman of Atlantic Lithium, expressed pride in becoming the first lithium company to commence trading on the Ghana Stock Exchange. He emphasized the company’s commitment to driving Ghana’s lithium production ambitions and delivering generational benefits to the country and its citizens.
Atlantic Lithium’s journey in Ghana began in 2016 with initial exploration activities, making the listing on the GSE a significant milestone in the company’s Ghanaian journey.