Source: Streetwise Reports 08/23/2024
The modular DMS lithium processing plant is slated for transport to the explorer's project in Brazil from South Africa. Read on to learn why two analysts believe the company's stock offers 150%-plus upside.
Atlas Lithium Corp. (NASDAQ: ATLX) has team members on the ground in South Africa, overseeing the weighing and packaging of all components of the company's modular dense media separation (DMS) lithium processing plant in preparation for transcontinental shipment to Brazil. So far, 48 containers of an estimated 100 have been readied.
"Our direct involvement ensures that every detail is accounted for as we ship it" said Brian Talbot, founder and director of RTEK International DMCC, the company doing the work.
Atlas representatives also visited the South African facilities where some remaining parts of the processing plant are still being fabricated, such as effluent components and conveyors.
Atlas Lithium's plant, the first of its kind for Brazil, uses a modularized and optimized version of the long-used and proven DMS method of processing lithium. Using a heavy liquid medium, several times denser than water, materials are efficiently separated by density, for example, heavier lithium minerals are isolated from lighter waste materials.
The plant's modular design "streamlines transportation, installation and commissioning while its significantly reduced height, weight and overall physical footprint make it an environmentally-friendly solution" wrote H.C. Wainwright & Co. analyst Heiko Ihle in a July 9 research report. Further, the plant's reduced water requirement sets a new standard for water conservation in lithium production, the release noted.
"Atlas Lithium's modular plant represents a significant step for Brazil's lithium industry" Talbot said.
Moving Toward Production
U.S.-based Atlas Lithium Corp. is a mineral explorer-developer that aims to become "the mineral resources company for the green energy revolution" according to its website.
Currently, Atlas is aiming to transition from exploration to lithium concentrate production with its flagship Neves Project hard-rock lithium project in Brazil's state of Minas Gerais. "We remain confident that the firm can start recording revenue from spodumene at Das Neves once production begins" Ihle commented on July 9.
The Neves Project, comprising 85 mineral rights over 468 square kilometers (468 sq km), is one of the largest exploration projects for lithium and other battery minerals in Brazil, a premier mining jurisdiction. The property is located mostly the country's Eastern Pegmatitic Province, known for its hard rock formations, or pegmatites, containing lithium-bearing minerals like spodumene and petalite, according to the Brazilian Geological Survey.
Minas Gerais is also home to Sigma Lithium Corp.'s (NASDAQ: SGML) producing Grota do Cirilo project with a Measured and Indicated resource of 94,300,000 tons (94.3 Mt) of 1.4% lithium ...
