News and Announcements
Altech Chemicals Quarterly Activities Report: New Cornerstone Investor, EL Sold for $2 million, Meckering Mining Lease Grant
- Published August 04, 2016 11:43AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
29th July 2016 , ASX Announcement
Highlights
Altech secures another quality cornerstone investor
- Altech secures Malaysian publicly listed MAA Group Berhad (MAAG) as cornerstone investor
- MAAG is an insurance, investment, creidt and finance group with total asset of RM1.45 billion
- Placement of $1.0 million of March 2016 shortfall shares
Meckering mining lease grant
- Meckering mining lease M70/1334 granted on 19 May 2016
- 250+ years kaolin feedstock for 4,000tpa Malaysian HPA plant
Altech sells EL for $2 million cash
- Dana legal action resolved
- Sale of surplus exploration licnece for $2 million
- Altech retains 1–% ownership of ML (M70/1334)
Update to kaolin resource for mining lease
- JORC 2012 kaolin resource estimiated for mining lease M70/1334
- Indicated Mineral Resource of 11Mt of kaolin @ 82.7% ISO brightness
- Sufficient to support high purity alumina plany for >250 years mine life at 4,000tpa production
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