Altura Mining Ltd.: Capital Raising Presentation June 2016
09.06.2016 | ABN Newswire
Perth - Altura Mining Ltd. (ASX:AJM) (OTCMKTS:ALTAF) has attained several key commercial milestones at Pilgangoora placing it ahead of its peers in the Lithium sector and on track to deliver on its strategy of being a near term, low cost, low capex exposure to Lithium.Investment Highlights
Reserve Established:
- Reserve established 18.4mt @ 1.07% Li2O
- Resource 35.7mt @ 1.05% Li2O (with material exploration upside)
Robust Feasibility Study (FS) Tabled:
- Net Present Value (NPV) A$382M, Internal rate of return (IRR) 59.5%
- Forecast EBITDA A$73.9m from annual production of 215,000tpa Chemical Grade Lithium Concentrate
- Low cost producer of concentrate with a forecast total cash cost of A$298/t
- Modest Capital intensity with forecast capex of A$129M
Offtake Agrement Signed:
- Binding offtake agreement signed for up to 50% production*
- Memorandum of understanding (non-binding MOU), signed for up to additional 50% of production*
Pilgangoora is a near term exposure to robust lithium markets defined by low cost, a modest capital intensity and straightforward geology as broad consensus emerges in investment markets surrounding the robust, long term demand supply equation for Lithium.
* Refer to ASX announcement 11 February 2016 and 11 April 2016
To view the presentation, please visit:
http://abnnewswire.net/lnk/W04730S6
About Altura Mining Ltd:
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