ATLAS LITHIUM DL -,001 Aktie

Atlas Lithium has signed contracts that cover around 71% of the direct capital expenditure for the fully permitted Neves project and are about 16% below the cost estimates in the definitive feasibility study. The awards include earthworks, civil and structural works, electromechanical assembly of the dense-media separation plant, crushing plants, electrical infrastructure, detailed engineering, construction management, building construction and domestic logistics. The processing plant is ready for installation in Brazil, and each contract was awarded at or below the budget values assumed in the feasibility study. » More on de.investing.com

Atlas Lithium has selected Promon Engenharia, TSX Engineering, Cerne Construções and RETC Infraestrutura as operational partners for the Neves lithium project in Brazil. All contracts are within or below the cost assumptions of the final feasibility study. The study forecasts about 146,000 tonnes of lithium concentrate per year, operating costs of US$489 per tonne, an NPV of US$539 million, an IRR of 145% and a payback period of 11 months; permits are in place and a sorting plant has already been transported to Brazil. Atlas shares recently fell 12% to US$4.44; the balance sheet shows more cash than debt and a current ratio of 2.56. » More on de.investing.com

Atlas Lithium appointed Admiral Flávio Augusto Viana Rocha as an independent member of the board of directors. Rocha brings extensive military and political experience from Brazil as well as experience in strategic advisory and international relations. The appointment comes against a background of high share volatility and a strained financial position for the company, which is focused on the Neves project in Brazil. » More on de.investing.com