News and Announcements
Altech Chemicals Ltd (ASX: ATC) FY15 Company Update
- Published January 29, 2015 2:40PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
After launching into a BFS for its high purity alumina (HPA) project, Altech selected Johor Bahru (Malaysia) as its preferred plant location due to significant cost savings – 40% opex and 50% capex savings. With its BFS progressing well, an optimised plant production rate of 4,000tpa; and wet processing for the aluminous clay beneficiation, was confirmed.
In November Altech appointed highly experienced accountant, Mr Shane Volk, as CFO/Company Secretary; Altech also received $0.46m R&D rebate.
Finally, Breakaway Research delivered a mid-point valuation of $0.25/ATC share; based on US$20/kg for HPA and Altech’s estimated opex US$8/kg, EV/EBITDA and DCF evaluation for only 7.5% of the full value of Altech’s HPA project ranged from US$260m-$360m.
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ABOUT ALTECH CHEMICALS
Altech Chemicals Limited is aiming to become one of the world’s leading suppliers of a high-value product, 99.99% (4N) high purity alumina (HPA) (Al2O3).
HPA is the major source material for scratch-resistant artificial sapphire glass, which is used in the next generation of smartphones as well as a growing range of high performance electronic applications such as LED’s, semi-conductors, and phosphor TV screens. The global HPA market is approximately 19,040tpa and is expected to double over the coming decade.
Current HPA producers use an expensive and highly processed feedstock material such as aluminum metal to produce HPA. Altech has reported the ability to produce 4N HPA directly from an ore feedstock, such as aluminous clay. Altech employs a proven processing technology to extract HPA from its low-cost and low-impurity aluminous clay feedstock in Western Australia. The Company is now advancing a Bankable Feasibility Study (BFS) to develop a full-scale 3,000tpa production facility.
Altech is a chemical processing group focused on creating a high-margin product to meet the growing global demand for the next generation of high-performance technologies.
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