16 December 2024
TR-1 Notification of Major
Holdings
Atlantic Lithium Limited (AIM: ALL, ASX: A11,
GSE: ALLGH, OTCQX: ALLIF, "Atlantic Lithium" or the
"Company"), the Africa-focused lithium
exploration and development company targeting the delivery of
Ghana's first lithium mine, wishes to announce that the Company has
received the following TR-1 notification from major shareholder
Assore International Holdings Limited ("Assore").
The notification follows Assore's
purchase of Tranche 2 Shares in line with the
Company's successful Equity Placing (refer announcement of 25 October 2024) and shareholder
approval of Resolution 11 at the Company's Annual General Meeting
("AGM"), held on 29 November 2024.
The voting rights of Assore currently sit at
30.56% of the total issued capital of the
Company.
TR-1: Standard form for notification
of major holdings
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NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and
to the FCA in Microsoft Word format if possible)
i
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1a.
Identity of the issuer or the underlying issuer of existing shares
to which voting rights are attached ii:
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Atlantic
Lithium Limited
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1b.
Please indicate if the issuer is a non-UK
issuer (please mark with an
"X" if appropriate)
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Non-UK issuer
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X
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2.
Reason for the notification (please
mark the appropriate box or boxes with an "X")
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An acquisition or disposal of voting
rights
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X
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An acquisition or disposal of
financial instruments
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An event changing the breakdown of
voting rights
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Other (please specify)
iii:
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3.
Details of person subject to the notification
obligation iv
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Name
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Assore International Holdings
Limited
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City and country of registered office
(if applicable)
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Winchester, United Kingdom
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4.
Full name of shareholder(s) (if
different from 3.) v
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Name
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City and country of registered office
(if applicable)
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5.
Date on which the threshold was crossed or reached
vi:
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11 / 12 / 2024
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6.
Date on which issuer notified
(DD/MM/YYYY):
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12 / 12 / 2024
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7.
Total positions of person(s) subject to the notification
obligation
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% of
voting rights attached to shares (total of 8. A)
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%
of voting rights through
financial instruments
(total of 8.B 1 + 8.B 2)
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Total of
both in % (8.A + 8.B)
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Total number of voting rights held in
issuer (8.A + 8.B) vii
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Resulting situation on the date on
which threshold was crossed or reached
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30.56
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30.56
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211,800,865
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Position of previous notification
(if
applicable)
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27.16
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27.16
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179,025,852
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8.
Notified details of the resulting situation on the date on which
the threshold was crossed or reached
viii
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A:
Voting rights attached to shares
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Class/type of
shares
ISIN code (if possible)
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Number of voting rights ix
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% of
voting rights
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Direct
(DTR5.1)
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Indirect
(DTR5.2.1)
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Direct
(DTR5.1)
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Indirect
(DTR5.2.1)
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AU0000237554
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211,800,865
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30.56
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SUBTOTAL 8. A
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211,800,865
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30.56
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B 1:
Financial Instruments according to DTR5.3.1R (1)
(a)
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Type
of financial instrument
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Expiration
date x
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Exercise/
Conversion Period xi
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Number of voting rights that may be acquired if the instrument
is
exercised/converted.
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% of
voting rights
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SUBTOTAL 8. B 1
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B 2:
Financial Instruments with similar economic effect according to
DTR5.3.1R (1) (b)
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Type
of financial instrument
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Expiration
date x
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Exercise/
Conversion Period xi
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Physical or cash
Settlement xii
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Number of voting rights
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% of
voting rights
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SUBTOTAL 8.B.2
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9.
Information in relation to the person subject to the notification
obligation (please mark
the
applicable box with an
"X")
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Person subject to the notification
obligation is not controlled by any natural person or legal entity
and does not control any other undertaking(s) holding directly or
indirectly an interest in the (underlying) issuer
xiii
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X
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Full chain of
controlled undertakings through which the voting rights and/or
the
financial instruments are effectively held starting with the
ultimate controlling natural person or legal entity (please add additional rows as necessary)
xiv
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Name
xv
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% of voting rights if it
equals or is higher than the notifiable threshold
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% of voting rights through
financial instruments if it equals or is higher than the notifiable
threshold
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Total of both if it equals or
is higher than the notifiable threshold
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10. In case of proxy voting,
please identify:
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Name of the proxy holder
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The number and % of voting rights
held
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The date until which the voting
rights will be held
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11.
Additional information xvi
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Place of completion
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Johannesburg, South Africa
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Date
of completion
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12 December 2024
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For any further information, please
contact:
Atlantic Lithium Limited
Neil Herbert (Executive Chairman)
Amanda Harsas (Finance Director and Company
Secretary)
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www.atlanticlithium.com.au
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IR@atlanticlithium.com.au
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Tel: +61 2 8072
0640
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SP
Angel Corporate Finance LLP
Nominated Adviser
Jeff Keating
Charlie Bouverat
Tel: +44 (0)20 3470 0470
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Yellow Jersey PR
Limited
Charles
Goodwin
Bessie
Elliot
atlantic@yellowjerseypr.com
Tel: +44 (0)20 3004
9512
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Canaccord Genuity
Limited
Financial
Adviser:
Raj Khatri (UK)
/
Duncan St John,
Christian Calabrese (Australia)
Corporate
Broking:
James
Asensio
Tel: +44 (0) 20 7523
4500
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Notes to Editors:
About Atlantic
Lithium
www.atlanticlithium.com.au
Atlantic Lithium is an AIM, ASX, GSE
and OTCQX-listed lithium company advancing its flagship project,
the Ewoyaa Lithium Project, a significant lithium spodumene
pegmatite discovery in Ghana, through to production to become the
country's first lithium-producing mine.
The Definitive Feasibility Study for
the Project indicates the production of 3.6Mt of spodumene
concentrate over a 12-year mine life, making it one of the largest
spodumene concentrate mines in the world.1 2
The Project was awarded a Mining
Lease in October 2023, an Environmental Protection Agency ("EPA")
Permit in September 2024, and a Mine Operating Permit in October
2024 and is being developed under an earn-in agreement with
Piedmont Lithium Inc.
The Ewoyaa Mineral Resource Estimate
(JORC) totals 36.8Mt @ 1.24% Li2O and includes 3.7Mt @
1.37% Li₂O in the Measured category, 26.1Mt @ 1.24% Li₂O in the
Indicated category and 7.0Mt @ 1.15% Li₂O in the Inferred
category.1 Ore Reserves (Probable) of 25.6Mt @ 1.22%
Li2O have been reported for the Project.
1
Atlantic Lithium holds a portfolio of
lithium projects within 509km2 and 771km2 of
granted and under-application tenure across Ghana and Côte d'Ivoire
respectively, which, in addition to the Project, comprises
significantly under-explored, highly prospective
licences.
End Note
1 Ore Reserves, Mineral
Resources and Production Targets
The information in this announcement
that relates to Exploration Results, Ore Reserves, Mineral
Resources and Production Targets complies with the 2012 Edition of
the Australasian Code for Reporting of Exploration Results, Mineral
Resources and Ore Reserves (JORC Code). The information in this
announcement relating to the Mineral Resource Estimate ("MRE") of
36.8Mt @ 1.24% Li₂O
for the Ewoyaa Lithium Project ("Ewoyaa" or the "Project") is
extracted from the Company's announcement entitled
"New Dog-Leg Target Delivers Increase to
Ewoyaa MRE", dated 30 July 2024, which is
available at www.atlanticlithium.com.au.
The MRE includes a total of 3.7Mt @ 1.37% Li₂O in the Measured category, 26.1Mt @
1.24% Li₂O in the
Indicated category and 7.0Mt @ 1.15% Li₂O in the Inferred category. The
information in this announcement relating to the Ore Reserves
(Probable) of 25.6Mt @ 1.22% Li2O and relating to the
Production Target of 3.6Mt of spodumene concentrate over a 12-year
mine life is extracted from the Company's announcement entitled
"Ewoyaa Lithium Project Definitive
Feasibility Study", dated 29 June 2023,
which is available at www.atlanticlithium.com.au.
The Company confirms, in the case of Mineral Resources, Ore
Reserves and Production Targets, that all material assumptions and
technical parameters underpinning the estimates continue to apply.
Material assumptions for the Project have been revised on grant of
the Mining Lease for the Project, announced by the Company on 20
October 2023 in the announcement entitled, "Mining Lease Granted for Ewoyaa Lithium
Project". The Company is not aware of any
new information or data that materially affects the information
included in this announcement, the announcement dated 30 July 2024,
the announcement dated 29 June 2023, or the announcement dated 20
October 2023.
2 Ewoyaa to become one of
the largest spodumene concentrate producers globally - Based on a
comparison of targeted spodumene concentrate production capacity
(ktpa, 100% basis) of select hard rock spodumene projects globally
(refer Company presentation dated
8 September
2023).
Competent Persons
Information in this announcement
relating to Mineral Resources was compiled by Shaun Searle, a
Member of the Australian Institute of Geoscientists. Mr
Searle has sufficient experience that is relevant to the style of
mineralisation and type of deposit under consideration and to the
activity being undertaken to qualify as a Competent Person as
defined in the 2012 Edition of the 'Australasian Code for Reporting
of Exploration Results, Mineral Resources and Ore Reserves' and is
a Qualified Person under the AIM Rules. Mr Searle is a director of
Ashmore. Ashmore and the Competent Person are independent of the
Company and other than being paid fees for services in compiling
this report, neither has any financial interest (direct or
contingent) in the Company. Mr Searle consents to the inclusion in
the report of the matters based upon the information in the form
and context in which it appears.
Information in this announcement
relating to Ore Reserves was compiled by Mr Harry Warries. All
stated Ore Reserves are completely included within the quoted
Mineral Resources and are quoted in dry tonnes. Mr Warries is a
Fellow of the Australasian Institute of Mining and Metallurgy and
an employee of Mining Focus Consultants Pty Ltd. He has sufficient
experience, relevant to the style of mineralisation and type of
deposit under consideration and to the activity he is undertaking,
to qualify as a Competent Person as defined in the 'Australasian
Code for Reporting of Mineral Resources and Ore Reserves' of
December 2012 ("JORC Code") as prepared by the Joint Ore Reserves
Committee of the Australasian Institute of Mining and Metallurgy,
the Australian Institute of Geoscientists and the Minerals Council
of Australia. Mr Warries gives Atlantic Lithium Limited consent to
use this reserve estimate in reports.
The Company confirms that the form
and context in which the Competent Persons' findings are presented
have not been materially modified from the original market
announcement.
