Atlantic Lithium Limited (A11), an Africa-focused lithium exploration and development company aiming to establish Ghana’s first lithium mine, has provided an update following a trading halt on the ASX since February 19, 2026. The halt was prompted by speculation surrounding the ratification of the Mining Lease for its flagship Ewoyaa Lithium Project in Ghana. The company confirms a meeting was held on February 12, 2026, by the Committee on Lands and Natural Resources in Ghana to discuss the ratification. Atlantic Lithium states it is unaware of the meeting’s outcome but remains confident ratification will occur.
Atlantic Lithium also announced the cessation of discussions regarding a potential corporate transaction. The company had received a conditional, non-binding proposal for the acquisition of 100% of its share capital. Canaccord Genuity and HopgoodGanim Lawyers were appointed to assess the proposal, and exclusive discussions ensued with a potential suitor. However, exclusivity and discussions have now ended without any agreement. Shareholders do not need to take any action.
The company cited several factors contributing to the decision to discontinue discussions, including the status of the Ewoyaa Mining Lease, the potential of its exploration portfolio in Ghana and Côte d’Ivoire, and improved sentiment and market dynamics within the lithium industry. The Board believes ratification of the Mining Lease is a major de-risking milestone. Atlantic Lithium also holds 509km² of granted and under-application tenure in Ghana and 771km² of granted tenure in Côte d’Ivoire, which it believes hold potential for further lithium discovery.
According to CEO Keith Muller, the Board determined the proposal did not fully encompass the company’s true potential, its asset portfolio, or the underlying demand for lithium. Trading in Atlantic Lithium shares on the ASX will resume following this announcement.
