Atlantic Lithium (ALL) AI Stock Analysis

• Market Cap: £80.49M
• Dividend Yield: N/A
• Average Volume (3M): 1.70M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.49
• Revenue Growth: N/A
• EPS Growth: 54.72%
• Country: UK
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): >-0.01
• Shares Outstanding: 748,743,350
• 10 Day Avg. Volume: 1,785,114
• 30 Day Avg. Volume: 1,696,091
• PEG Ratio: 0.29
• Price to Book (P/B): 2.41
• Price to Sales (P/S): 9223.05
• P/FCF Ratio: -4.01
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: £11.93
• Price Target Upside: 10.98% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 48 Neutral
• Price Target: 11.00p ▲(2.33% Upside)

The score is primarily held down by weak financial performance (severe revenue decline, very negative profitability, and challenging cash flow), partially offset by constructive technical momentum (price above major moving averages and positive MACD). Valuation remains a risk due to negative earnings (negative P/E) and no dividend support.

Positive Factors

Flagship Ewoyaa lithium asset

Owning and advancing the Ewoyaa spodumene project provides a durable, project-level entry into the battery materials supply chain. A defined flagship resource under development positions the company to capture long-term EV battery demand if it reaches commercial production or secures strategic partners.

Business model aligned with battery supply chain

A business model focused on developing spodumene concentrate for battery and chemical converters is structurally aligned with secular EV and energy-storage growth. This alignment supports durable demand for potential future production and enables value capture via offtakes, JV structures, or project sales.

Very low financial leverage

Minimal leverage gives the company structural financial flexibility during the multi-year development cycle. Low debt reduces bankruptcy risk, preserves capacity to raise project financing or equity on development milestones, and supports longer runway for permitting and construction phases.

Negative Factors

Severe revenue collapse and large losses

A near-total revenue collapse and deeply negative margins reflect that the company is not yet generating commercial income. Persistently large operating losses limit reinvestment capacity, increase dependency on external capital, and heighten execution risk for project development over the medium term.

Negative free cash flow and weak cash conversion

Ongoing negative free cash flow and poor cash conversion indicate structural cash burn during the development phase. This creates recurring financing needs, increases dilution or borrowing risk, and can delay project milestones if capital markets or project financing become constrained.

Negative return on equity and profitability

A negative ROE and broad negative margins signal that current capital allocation is not generating shareholder returns. Even as a development-stage miner, prolonged negative profitability reflects structural execution or scale issues that must be resolved for long-term value creation.

Atlantic Lithium Business Overview & Revenue Model

Company Description

Atlantic Lithium Limited explores for and develops mineral properties in West Africa. It primarily explores for lithium deposits. The company's flagship project is the Ewoyaa lithium project located in Ghana. It also holds interest in a lithium property covering an area of 1,172 square kilometers in Côte d'Ivoire. The company was formerly known as IronRidge Resources Limited and changed its name to Atlantic Lithium Limited in November 2021. Atlantic Lithium Limited was incorporated in 2007 and is based in Sydney, Australia.

How the Company Makes Money

Atlantic Lithium generates revenue primarily through the exploration, development, and eventual production of lithium concentrate. The company’s revenue model is centered on the sale of spodumene concentrate to battery manufacturers and electric vehicle producers as demand for lithium continues to rise. Key revenue streams include direct sales agreements with customers, potential off-take agreements that secure future sales, and partnerships with other mining companies and stakeholders in the lithium supply chain. Significant factors contributing to its earnings include the increasing global demand for lithium due to the electric vehicle boom, strategic partnerships that enhance operational capabilities, and favorable government policies promoting mineral extraction in the regions where it operates.

Atlantic Lithium Financial Statement Overview

Summary

Financials are weak overall: revenue fell sharply (-98.66%) with very large losses (net margin -619.43%) and negative ROE (-16.20%). The main offset is a low-leverage balance sheet (debt-to-equity 0.0043), but negative free cash flow and a negative operating cash flow to net income ratio keep the score low.

Income Statement

Atlantic Lithium's income statement shows significant challenges with negative margins across the board. The company has experienced a drastic decline in revenue, with a revenue growth rate of -98.66%. The net profit margin is deeply negative at -619.43%, indicating substantial losses relative to revenue. These figures suggest severe profitability issues and a need for strategic changes to improve financial performance.

Balance Sheet

The balance sheet reflects a relatively stable financial structure with a low debt-to-equity ratio of 0.0043, indicating minimal leverage. However, the return on equity is negative at -16.20%, highlighting inefficiencies in generating returns for shareholders. The equity ratio is not explicitly calculated, but the company's equity position appears strong relative to its assets, suggesting some stability despite ongoing losses.

Cash Flow

Cash flow analysis reveals significant negative free cash flow, though there is a positive growth rate of 34.23% in free cash flow. The operating cash flow to net income ratio is negative, indicating operational challenges in generating cash. The free cash flow to net income ratio is high at 4.97, suggesting that while the company is generating some cash relative to its net losses, overall cash flow management remains a concern.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	693.86K	10.64K	717.86K	0.00	0.00	0.00
Gross Profit	693.86K	-109.88K	717.86K	-27.93K	-16.83K	-12.02K
EBITDA	-5.75M	-6.15M	-12.17M	-12.26M	-33.39M	-4.04M
Net Income	-6.59M	-6.59M	-12.48M	-12.99M	-34.65M	-4.90M
Balance Sheet
Total Assets	44.48M	44.48M	41.19M	36.69M	39.13M	72.19M
Cash, Cash Equivalents and Short-Term Investments	5.39M	5.39M	12.68M	15.31M	23.88M	19.14M
Total Debt	176.25K	176.25K	611.35K	0.00	0.00	0.00
Total Liabilities	3.78M	3.78M	5.74M	6.54M	4.35M	3.95M
Stockholders Equity	40.70M	40.70M	35.45M	30.15M	34.78M	68.24M
Cash Flow
Free Cash Flow	-24.01M	-24.45M	-34.16M	-28.85M	-10.60M	-17.41M
Operating Cash Flow	-4.64M	-4.92M	-9.14M	-6.96M	-5.38M	-2.86M
Investing Cash Flow	-13.67M	-12.57M	-8.39M	-4.47M	-12.66M	-14.65M
Financing Cash Flow	15.04M	10.02M	15.05M	2.88M	23.49M	28.76M

Atlantic Lithium Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 10.75
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:ALL, the sentiment is Positive. The current price of 10.75 is above the 20-day moving average (MA) of 9.96, above the 50-day MA of 9.62, and above the 200-day MA of 8.29, indicating a bullish trend. The MACD of 0.48 indicates Negative momentum. The RSI at 57.14 is Neutral, neither overbought nor oversold. The STOCH value of 60.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:ALL.

Atlantic Lithium Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
ZNWD	52 Neutral	£39.32M	-13.18	-7.78%	―	―	-19.57%
ALL	48 Neutral	£80.49M	-22.40	-17.14%	―	―	54.72%
CTL	48 Neutral	£21.31M	-1.52	-35.54%	―	―	―
KOD	47 Neutral	£101.40M	-10.00	-21.41%	―	―	-133.33%
SAV	47 Neutral	£123.56M	-26.67	-10.02%	―	―	―

Atlantic Lithium Corporate Events

Atlantic Lithium Advances with Successful EGM Resolutions

Atlantic Lithium announced that all resolutions at their Extraordinary General Meeting were passed, marking a significant step forward for the company. This development supports their strategic goal of advancing the Ewoyaa Lithium Project in Ghana, potentially enhancing their position in the lithium market and benefiting stakeholders by progressing towards production.

The most recent analyst rating on (GB:ALL) stock is a Hold with a £0.23 price target. To see the full list of analyst forecasts on Atlantic Lithium stock, see the GB:ALL Stock Forecast page.

Atlantic Lithium Advances Ewoyaa Project with New Agreements and Exploration Success

Atlantic Lithium has concluded negotiations with the Government of Ghana on revised fiscal terms for the Ewoyaa Mining Lease, awaiting parliamentary ratification as the final step in the permitting process. The company also reported promising lithium exploration results from its Côte d’Ivoire licenses and secured up to £28m in financing to advance the Ewoyaa project, which is poised to become Ghana’s first lithium mine. These developments are expected to enhance the company’s operational capabilities and long-term growth prospects, benefiting both shareholders and local stakeholders.

The most recent analyst rating on (GB:ALL) stock is a Hold with a £8.50 price target. To see the full list of analyst forecasts on Atlantic Lithium stock, see the GB:ALL Stock Forecast page.

Atlantic Lithium Announces Virtual AGM Amidst Progress on Ghana’s First Lithium Mine

Atlantic Lithium Limited has announced that its Annual General Meeting will be held online on 27 November 2025. This meeting is significant for stakeholders as it provides an opportunity to discuss the company’s progress, including the development of the Ewoyaa Lithium Project, which has received various permits and is moving towards production. The virtual format allows broader participation from shareholders, reflecting the company’s commitment to transparency and stakeholder engagement.

The most recent analyst rating on (GB:ALL) stock is a Hold with a £8.50 price target. To see the full list of analyst forecasts on Atlantic Lithium stock, see the GB:ALL Stock Forecast page.