Aterian PLC - Interim Results

Aterian PLC is pleased to announce its unaudited interim results for the six months ended 30 June 2024. The company is actively seeking to acquire and develop new critical metal resources in Africa to support ethical and sustainable supply chains. Aterian holds a diversified African portfolio of critical metals projects, with active projects in Rwanda, Morocco, and Botswana.

In Rwanda, Aterian is focusing on hard rock lithium potential through partnerships exploring and developing lithium-tantalum and tin opportunities. The Company has a joint venture with Rio Tinto to explore and develop lithium-tantalum-niobium-tin mining operations in southern Rwanda. Additionally, a metal trading agreement was secured with a significant international trading house for metal concentrates sourced from RWandan-based artisanal and small-scale mining operations.

In Morocco, Aterian holds copper-silver and base metal projects in the Kingdom of Morocco, focusing on sediment-hosted copper deposits in the Anti-Atlas region known for significant copper deposits. The Company is reviewing its existing portfolio to rationalize Moroccan project assets based on geology, geography, and infrastructure.

In Botswana, Aterian acquired a 90% interest in Atlantis Metals, which holds copper-silver licenses in the Kalahari Copperbelt and lithium brine licenses in the Makgadikgadi Pans. The Kalahari Copperbelt is considered highly prospective for copper deposits, and the Makgadikgadi Pans region has been declared a "Lithium Zone".

The Company's financial statements show a loss of £504,000 for the period, with revenue generated from administrative costs and operational expenses. A working capital facility of £500,000 is secured by a fixed and floating charge over all of the Company's property or undertaking.