Atlantic Lithium: how does it stack up against its peers?

Last week Atlantic Lithium [LON:ALL] announced the final drill results from its Ewoyaa lithium project in Ghana, which confirmed new mineralised pegmatites at a number of targets. All assay results are now in from its 47,000m drilling program.

Regular readers will know that we met with the Atlantic Lithium management team in London last year. It is a stock that continues to attract a lot of investor interest. There are big expectations for a resource upgrade which is targeted for this quarter. The Pre-Feasibility Study looks very positive, with an estimated 2m tonnes per annum operation producing some 255,000 tpa of 6% Li20 spodumene concentrate.

Mine life is estimated at around 12.5 years. Revenues are predicted to come in at over US$4.8bn with a post-tax NPV of US$1.3bn. Drilling continues to deliver high grade drill intersections outside the current MRE. Management has put in place many of the building blocks for what is quickly shaping up to have the potential to be West Africa's premier lithium project.

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The mining licence application has been submitted and management have also confirmed a FEED engineering contract is now in place and it also has a funding agreement with Piedmont Lithium.

The share price had peaked last year at around 68p. It is now down at almost half that, raising the question as to whether, with all this positive news, now is the time to add a few extra shares? There is no argument that lithium miners were one of the hot tickets in 2022, but how does the company measure up against its closest competitors?

This can be a hard question to answer if you are doing this manually, but lucking we have access to the machine learning resources at Deshe Analytics, which did all the heavy lifting for us.