Atlantic Lithium (AIM:ALL) said today that it rejected an offer by Assore International Holdings to acquire all of Atlantic at an offer price of £0.33 per share (A$0.63).
Atlantic said the offer undervalued the company.
Atlantic Lithium is a mine in Ghana. In October Atlantic was granted a mining lease for its Ewoyaa lithium project. The Company signed a funding agreement with Piedmont Lithium Inc. towards the development of the Project. At the Ewoyaa Project, Atlan?c Lithium intends to be producing spodumene concentrate via a simple gravity only process flowsheet.