Altura Mining Ltd: Share Purchase Plan - Offer Document
09.06.2016 | ABN Newswire
Perth - Altura Mining Ltd. (ASX:AJM) (OTCMKTS:ALTAF) (Altura or the Company) invites eligible shareholders to participate in a share purchase plan (SPP), to subscribe for ordinary fully paid shares (Shares) in the Company on the Terms and Conditions enclosed with this document to acquire Shares at a price of A$0.20 per Share (Offer).The SPP is being conducted as part of a wider fund raising exercise that includes funds to be raised by way of a fully underwritten placement of A$20 million (Placement).
Funds raised from the SPP and the Placement will be spent to fast track development and expansion of the Company's Pilgangoora Lithium Project including:
- Timely completion of the Definitive Feasibility Study,
- Payments due on long lead items and deposits on plant;
- Additional exploration of its Pilgangoora tenements; and
- For general working capital requirements.
It is planned that a full funding package for construction of the Pilgangoora Lithium Project will be in place by the end of 2016. The proceeds from the SPP and the Placement will ensure that the Company has a strong balance sheet with sufficient funds to allow the project to continue to be progressed up until that time. The additional drilling on the tenements will include provision of feedstock for further metallurgical testing geotechnical data for the planned mining area, for upgrade of existing Inferred Resources to Indicated Resources within the initial pit shell and for resource extension and exploration drilling within the tenements.
Existing shareholders are now being invited to participate in helping to support the future of Altura. The SPP gives eligible shareholders the opportunity to increase their Altura shareholding without paying brokerage fees or other transaction costs, irrespective of the size of their shareholding, to purchase blocks of shares in various increments starting at A$500 worth of Shares up to a maximum of A$5,000 worth of Shares at A$0.20 per Share.
The Board recommends this Offer under the SPP and welcomes your ongoing support. Should you wish to discuss any information contained in this letter further, do not hesitate to contact the Company Secretary, Damon Cox, on +61 8 9488 5110.
To view the offer document, please visit:
http://abnnewswire.net/lnk/78ANEDR2
To view the Capital Raising Presentation, please visit:
http://abnnewswire.net/lnk/W04730S
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