“Atlantic Lithium – Trading Halt – What Does It Mean For Investors?

Atlantic Lithium Limited (ASX: A11) has been granted a trading halt by the ASX ahead of a potential capital raising. The trading halt will remain in place until the earlier of the commencement of normal trading on Monday, 21st December 2020, or when an announcement is released to the market or ASX withdraws the trading halt. The company is highly focussed on the exploration of lithium-bearing deposits in the region of Atlantic Canada. The company has been active in this region since it listed on the ASX in October 2011. Atlantic Lithium has an exploration licence in Nova Scotia which covers an area of 10,000 hectares of prospective land. This includes the haits and mcandrews resources, and two greenfield projects; East Stewiacke and Bear Head. The company conducted a post-listing, geologist-run exploration programme throughout its Nova Scotia concessions, comprising 420 reconnaissance line km of detailed grid and soil sampling. Following the reconnaissance, a lateritic diamond drill programme was conducted at the haits and mcandrews projects. The company also has exploration licences in New Brunswick and Newfoundland which covers an area of more than 5,000 hectares. The company also operates a wholly-owned mine in Quebec called Mont Carret, where it produces granite and granulation sand. The trading halt for potential capital raising will allow the company to further advance its exploration programs and provide additional capital to execute on its future plans. Funding is paramount for a junior explorer, and Atlantic Lithium is committed to maximizing value for its shareholders. The company believes that Atlantic Canada is highly prospective for lithium and is committed to developing its operations and projects in this region. Atlantic Lithium is using its expertise to target a number of high-grade lithium prospects in the Atlantic region. We can expect further news on the trading halt and the company’s plans in the near future.