Atlas Lithium Corporation
5.18+0.14 (+2.78%)
Oct 29, 4:00:01 PM EDT · NasdaqCM · ATLX · USD
Key Stats
Market Cap
106.37MP/E (TTM)
-Basic EPS (TTM)
-2.14Dividend Yield
0%Recent Filings
10-Q
Q2 FY2025 results
Atlas Lithium narrowed its Q2 net loss to $5.6 million, or $0.31 per share, from $9.2 million, or $0.67 per share, a year earlier, while six-month losses eased to $14.6 million from $22.1 million as exploration costs shifted to capitalization. Revenue from quartzite operations dipped to $32K quarterly from $183K, with gross margins turning negative amid higher costs, but operating cash burn improved to $8.3 million YTD from $11.3 million, fueled by $11.9 million in ATM equity raises. Cash stood at $13.9 million against $9.9 million in convertible debt at 6.5% maturing 2026, supporting Neves Project advances like the mining concession grant and modular plant delivery. Yet escalating U.S.-Brazil tariffs threaten lithium exports.
8-K
Annual meeting approvals passed
Atlas Lithium Corporation's stockholders approved all proposals at the May 28, 2025 annual meeting, electing five directors including Ambassador Roger Noriega and Marc Fogassa with strong majorities exceeding 26 million votes for each. They ratified Pipara & Co. LLP as auditors for fiscal 2025, greenlit equity grants to non-employee directors, and amended the 2023 Stock Incentive Plan. Governance continuity solidified. No major dissent emerged.
8-K
Atlas gains lithium mining concession
Atlas Lithium Corporation secured a mining concession for its 1,536.45-hectare lithium mineral right in Brazil's Neves Project on May 27, 2025, as published in the official gazette. This top-tier title grants perpetual ownership and unlimited mining rights for lithium, covering most discovered ore bodies. It unlocks full extraction potential. Yet regulatory reporting persists.
10-Q
Q1 FY2025 results
Atlas Lithium narrowed its Q1 operating loss to $9.8 million from $13.2 million a year earlier, thanks to capitalizing exploration costs that slashed expenses by $3.2 million y/y while general and administrative costs climbed $1.7 million on team growth and marketing. Net loss eased to $10.2 million, or $0.55 per diluted share on 16.5 million shares, versus $1.02 on 12.8 million shares last year; the gap between operating and net loss stems from $0.4 million in finance costs. Cash dipped to $14.0 million after $4.4 million in operating outflows and $4.2 million in investing for plant and exploration, offset by $7.1 million from stock sales. The modular lithium plant arrived in Brazil, advancing the Neves project. Yet tariffs and trade restrictions threaten demand for critical minerals.
8-K
Agreement terminated amid breaches
Atlas Lithium terminated its technical services agreement with RTEK on March 20, 2025, citing RTEK's breaches like failing to deliver an updated study and violating exclusivity terms, while rejecting RTEK's earlier termination notice from March 12. The company anticipates no penalties and has pivoted to SGS for the Neves Project's Definitive Feasibility Study, due mid-2025. Internal hires bolster engineering expertise. Potential litigation looms over the dispute.
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