Altura Mining Limited: Quarterly Activities Report for March 2016
28.04.2016 | ABN Newswire
Perth, Australia - Altura Mining Ltd. (ASX:AJM) are pleased to provide the Company's Quarterly Activities Report for March 2016.Highlights:
Lithium
- Feasibility Study completed with the following key findings:
- Annual production of 215,000 tonnes (average) of spodumene concentrate
- LOM Net Revenue of A$1,562 million
- LOM Cash Generation of A$773.8 million
- NPV of A$382 million and IRR of 59.5% (10% discount rate)
- Project payback of 1.7 years
- 18.47 Mt of total ore feed to produce 2.744 Mt of spodumene concentrate production
- LOM Strip Ratio of 2.7:1
- LOM Cash Cost (FOB) of A$298 per product tonne; Gross Margin of A$348 per tonne
- Maiden Ore Reserve estimate of 18.4 million tonnes @1.07% Li2O
- Revised Mineral Resource estimate of 35.7 million tonnes @ 1.05% Li2O
- Binding Offtake Agreement with Lionergy Limited for spodumene concentrate
- Non-binding MOU signed with Optimum Nano
Coal
- During the quarter 114,342 tonnes of coal sold - Altura share 38,114 tonnes.
Corporate
- Share Placement with Lionergy Limited raises $3 million.
- Over 37 million listed options have been exercised since the start of the calendar year providing in excess of $750,000 in funds.
To view the complete report, please visit:
http://abnnewswire.net/lnk/C425586T
About Altura Mining Limited:
Altura Mining Ltd. (ASX:AJM) is building a leading position in the independent supply of lithium raw materials, with a world class lithium project at Pilgangoora ready to set the platform and be the first new hard rock lithium product supplier in 2017. The Altura team has a track record of delivering mining projects with Pilgangoora the most advanced stage, near term producing lithium project; solid offtake partners and a market providing substantial growth opportunities to ensure positive shareholder returns.
Contact:
James Brown, Managing Director
Altura Mining Ltd.
T: +61-427-988-898
www.alturamining.com