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
  • Binding Offtake Agreement signed with Lionergy Limited for spodumene concentrate
  • Access and Compensation Deed signed with pastoral lease holders
  • Native Title Agreement signed with the Njamal people
  • Further exploration drilling being undertaken with eight (8) prospective lithium target areas identified
  • Work on Definitive Feasibility Study progressing with release scheduled for Q3 2016

Coal

  • During the quarter 97,089 tonnes of coal sold - Altura share 32,363 tonnes

Corporate

  • Share Placement with institutional investors raises $20 million
  • Expiry of 30 June 2016 Listed Options sees a 99.9% take-up rate and has provided $4 million in funds to the Company since their initial issue

Further details

Altura Mining Limited published this content on 29 July 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 29 July 2016 07:57:03 UTC.

Original documenthttp://alturamining.com/quarterly-activities-report-june-qtr-2016/

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