High-Interest Lithium Project Announces Significant Milestone

1. Atlas Lithium is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$3,000 and US$6,000. 
2. As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of Atlas Lithium.
3. James Guttman wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee. 
4.  This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. 

For additional disclosures, please click here.

Atlas Lithium Corp. (ATLX:NASDAQ) recently revealed it has reached the final phase of selecting a contractor for project management and construction oversight at its Neves Project in Brazil's Lithium Valley. Located in Minas Gerais, the Neves Project is the company's primary development initiative, backed by a Definitive Feasibility Study (DFS) outlining a robust hard-rock lithium project. 

The contractor selected will oversee comprehensive construction management, including scheduling, budgeting, safety compliance, and quality control. Atlas Lithium's decision followed a rigorous review process involving five firms, with evaluations centered on each bidder's experience with Brazilian mining projects, technical qualifications, and methodology. 

According to the company, "securing a top-tier project management partner is a critical step in our disciplined approach to making Atlas Lithium a producer of lithium concentrate in short order," said Eduardo Queiroz, Vice President of Engineering and Project Management Officer. He added that the company is "methodically advancing toward production while maintaining our focus on cost discipline and schedule optimization," noting that key permits are in hand and the processing plant has already arrived in Brazil. 

The company confirmed that its lithium processing facility is in Brazil and ready for installation, with pre-operational testing to follow. The final contract awards are expected to take place in early 2026. 

Permits secured for the Neves Project include authorizations for installation, mining concessions, water usage, and vegetation clearance. The site will operate using 100% dry-stacking — eliminating the need for a tailings dam — and aims to recirculate approximately 95% of the water used in processing. 

Lithium Market Gains Momentum Amid Recovery in Demand and Prices

The lithium market began showing renewed strength in late 2025 following a prolonged downturn. Barry FitzGerald wrote in Stockhead on December 4 that prices for spodumene concentrate had surged 64% from mid-year lows to US$1,135 per ton, while lithium carbonate rose 45% to over US$13,000 per ton. This turnaround was driven by a combination of increased demand from battery energy storage systems (BESS) and tighter supply dynamics in China.

Leede Financial, in its December 9 analysis, noted that lithium pricing continued on an upward trajectory. Lithium carbonate reached US$12,871 per ton — 24% higher year-over-year — and spodumene concentrate was 43% higher than the previous year at US$1,115 per ton. The firm credited strong electric vehicle sales and AI-powered data center demand for supporting market momentum. Leede wrote that "producers have seen share price improvements over the past 3 months," even as developers trailed slightly in longer-term performance metrics.

On December 17, JP Morgan increased its expectations for lithium demand from energy storage systems, according to Stockhead. The firm now sees these systems making up 32% of lithium carbonate equivalent demand by 2026, rising to 38% by 2030. It projected a medium-term supply deficit of 4% to 7%, prompting the bank to raise its spodumene forecast to US$2,000 per ton and lithium carbonate to US$18,000 per ton by late 2026.

Two days later, FitzGerald reported again in Stockhead that lithium producers were seeing renewed investor enthusiasm. He attributed this to constrained supply, ongoing price recovery, and heightened demand from large-scale battery installations and AI infrastructure. "Christmas has arrived early for the ASX-listed lithium stocks," he wrote, noting that developers were also beginning to benefit from the market shift.

Competitive Bidding, Cost Advantages, and Long-Term Potential

In a November 17 note, Heiko Ihle of H.C. Wainwright highlighted robust interest in the Neves project, noting that September site visits drew as many as 17 contractors per session and prompted over 2,800 clarification questions from bidders. He wrote that "the competitive bidding process supports disciplined cost outcomes and validates the project's attractiveness," particularly as most procurement packages were tied to mine operations, electromechanical systems, and internal roads — representing nearly 70% of total CapEx.

Ihle further discussed Atlas Lithium's August DFS, calling it strong from a financial perspective. "We remain pleased with the contents and financial projections of Atlas' definitive feasibility study," he wrote, citing an after-tax net present value of US$539 million, a 145% internal rate of return, and a payback period of just 11 months. The cost advantage, he noted, was tied to low-impurity spodumene near surface and a fully paid-for DMS plant.

In a follow-up issued November 24, Ihle maintained a Buy rating and set a US$12 per share target for the company, reflecting a roughly 175% premium to the offering price. He factored in Atlas Lithium's ~28% stake in Atlas Critical Minerals Corp. (JUPGD:OTCQB), adding that the wider asset base provided optionality beyond the Neves project.

Ihle also addressed developments at the Salinas project, about 60 miles north of Neves. He described early drill results as confirming near-surface spodumene mineralization and called Salinas "a key area of future growth that is mostly ignored by the market thus far."

Positioned for Execution in a Rapidly Growing Lithium Region

The Neves Project sits within Brazil's Lithium Valley and benefits from extensive infrastructure, a streamlined permitting process, and a large 557 km² land position. The project is being developed as an open-pit operation, leveraging near-surface spodumene to target low-cost production estimated at US$489 per ton.

According to Atlas Lithium's investor presentation, its fully paid-for DMS plant has arrived in Brazil and is ready for assembly. The design is modular and compact, aiming to streamline processing logistics. The DFS forecasts 146,000 tons of spodumene concentrate annually, with direct capital expenditures of only US$57.6 million.

The company also holds a 100% interest in the Salinas Project and owns 28% of Atlas Critical Minerals, providing additional exposure to lithium and other strategic minerals. Offtake agreements with global partners such as Mitsui, Chengxin, and Yahua further enhance its position in the global battery materials supply chain. 

Ownership and Share Structure¹

As for ownership and share structure, management owns approximately 24% of Atlas Lithium common shares. Strategic partner Mitsui & Co. Ltd. has ~8%. Numerous institutions hold ~11%. Retail investors own the rest. 

Atlas Lithium has 26.5 million shares outstanding. Its market cap is ~US$122M. Its 52-week range is US$3.54–8.32 per share.