West Africa-focused battery metals explorer Atlantic Lithium (ASX:A11) is set to make its debut on the lesser known Ghana Stock Exchange (GSE) at 8pm AEST today (13 May).
The GSE is the country’s main exchange with a market capitalisation of just under $80 billion Ghanaian Cedi ($8.76 billion).
The GSE has two listing categories — the main board and the Ghana Alternative Market (GAX), which together currently list 37 companies including major gold producer AngloGold Ashanti (GSE:AGA).
Atlantic Lithium’s entire issued share capital of around 650 million shares will begin trading on the Main Market of the exchange under the ticker ‘ALLGH’.
The company, which has a market capitalisation of $260 million on the ASX, says it will not issue any new shares in connection with the listing and the admission to the GSE will not have any impact on its existing listings.
Besides the ASX and the GSE, the company also has listings on London’s secondary exchange, AIM, and New York’s OTCQX for the trading of over-the-counter securities.
Atlantic Lithium’s flagship project is the Ewoyaa Lithium Project, which the company says is set to be Ghana’s first lithium-producing mine.
The project is being advanced to production under an agreement with Piedmont Lithium (ASX:PLL).
Atlantic Lithium released further drill results from the Dog-Leg target at the Ewoyaa Project earlier in May including 27m @ 1.85% lithium from 126m outside of the existing 35.3-million-tonne resource.
Executive Chairman Neil Herbert says the new GSE listing will provide Ghanaians a greater opportunity to share ownership in and contribute to the advancement of the project towards production.
“We look forward to commencing our journey on the GSE alongside the prospective Ghanaian investors that we hope to welcome through our admission,” he says.
“This represents an important new chapter for Atlantic Lithium in Ghana as we look to achieve long-term lithium production to support the country’s critical mineral objectives.”
Write to Angela East at Mining.com.au
Images: Atlantic Lithium
