We’re trying to achieve a greater than 15-year mine life and we’re one of the lowest capex and opex producers globally.
IT’S been a banner year for Vincent Mascolo, who started out 2021 as the CEO of one company, IronRidge Resources, and ended it in charge of two: Atlantic Lithium and Ricca Resources. Atlantic is essentially rump IronRidge, stripped of its high-quality gold assets in Côte D’Ivoire and Chad and transformed instead into a pure-play lithium company centred on a key asset in Ghana, Ewoyaa. Depending on how long a view you want to take, that looks to have been a pretty good move.
Shares in the new Atlantic Lithium are now hovering at around three-year highs, helped along by the buoyant lithium price; by the positive results of a recent scoping study; and by a funding deal that negates any need for further dilution. And since shares in Ricca were distributed to IronRidge shareholders at the time of the demerger, in November last year, what’s essentially happened is a focusing of the upside into two distinct vehicles.
Gold in Chad, after all, isn’t everyone’s cup of tea, although if it’s supported by an asset as prospective as Zaranou, the Côte D’Ivoire asset, why not just see where it goes? Mascolo has shown himself to be a dab hand at manoeuvring his companies through complexities and in making sure he stays fully in charge and not overawed by the big egos that have in the past run along in support behind him.