News and Announcements
Altech Receives $1.75 million Balance of Sales Proceeds
- Published May 26, 2016 3:27PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
26th May 2016, ASX Announcement
Altech Chemicals Limited (Altech/the Company) (ASX: ATC) is pleased to confirm the receipt of $1.75 million, being the balance of proceeds from the sale of its Meckering exploration licence E70/3923 to Dana Shipping and trading S.A. (Dana). The funds will be applied towards finalising the detailed design of the Company’s proposed high purity alumina (HPA) plant at Johor, Malaysia for general working capital purposes.
As announced on 9 May 2016, Altech reached agreement with Dana for the sale of its Meckering exploration licence E70/3923 for $2.0 million cash.
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