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Atlantic Lithium Ltd on Friday said it has cut costs to preserve cash as it awaits ratification of the mining lease for its flagship project in Ghana. The Sydney-based lithium exploration company said its pretax loss narrowed to A$1.8 million in the six months to December from A$2.0 million the year prior, with basic losses per share flat at 0.3 AUD cents. Chief Executive Keith Muller noted: ‘The lithium market has seen a strong recovery during the period, rising from lows of $590/tonne in June 2025 to over $1,500/tonne in January 2026, and onwards beyond $2,000/tonne more recently.’ Atlantic Lithium is currently awaiting the ratification of the mining lease in respect of its flagship Ewoyaa Lithium Project by the Parliament of Ghana. Parliamentary ratification of the lease represents the final step in the project’s permitting process. Muller said the firm continues to ‘receive positive indications in respect of the ratification process,’ and remains ‘confident’ that ratification will be forthcoming. Muller said Atlantic Lithium has undertaken work through the second half of 2025 to enhance the viability of the project through ongoing price volatility, ensuring it can survive price downturns but also capitalise on periods of improved pricing. This work is expected to support financing discussions, which will be further progressed post-ratification of the Ewoyaa lease. Atlantic Lithium said cash on hand at period-end was A$5.4 million, little changed from June 30. The firm said it has implemented further cost-saving measures focused on managing capital in light of the delay in the ratification of the Ewoyaa lease. It has cut headcount in Ghana and placed several full-time employees on reduced work schedules. In line with the reduced workforce in Australia, the company also terminated the lease on its Perth office early. Shares in Atlantic Lithium fell 4.3% to 15.60 pence each in London on Friday. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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