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Atlantic Lithium Ltd on Monday said takeover discussions with a potentially interested party have ceased without an agreement and that it is still waiting to know the outcome of Ghana’s parliamentary committee on the ratification of its flagship mining lease. Atlantic Lithium shares were trading up 5.6% to to 19.00 pence each on Monday afternoon in London. The Sydney-based lithium exploration company said the 100% takeover proposal was rejected as it ‘did not fully encompass the true potential of the company, its asset portfolio, and the underlying demand trajectory for lithium products’, Chief Executive Officer Keith Muller said. The company had appointed Canaccord Genuity and HopgoodGanim Layers as assisting firms to evaluate the proposal and provide due diligence as it entered the exclusive discussions phase, and said the potential for its almost 1,300 square kilometres of combined under-explored lands in Ghana and the Ivory Coast wasn’t reflected in the valuation as it’s ‘highly prospective’ for further lithium discovery. Additionally, the company said it has not received an update on the outcome of a meeting of the committee on lands and natural resources of Ghana’s parliament, held on February 12, which focussed on the ratification of the Ewoyaa project’s mining lease. The project targets the achievement of commercial production of spodumene, a high-grade ore for lithium production, which the company notes say prices surging from $800 per tonne in October 2025 to $1,900 per tonne last week, as battery demand for electric vehicles and storage systems remains strong. ‘We remain confident that ratification of the Ewoyaa mining lease will be forthcoming, with positive signals currently being received in-country’, Muller added. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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