- During the quarter 228,624 tonnes of coal produced from the Delta Coal mine – Altura share 76,208 tonnes.
- Focus continues on lowering costs via reductions in stripping ratio and mining costs.
- The Indonesian Government benchmark price for coal sales was 5% higher in March 2015 as compared with December 2014.
- Shareholder approval obtained for the sale of the Mt Webber iron ore joint venture interest for A$24m with settlement occurring on 17 February 2015, and for the Singapore listing of the Indonesian coal assets into a new separate coal focused entity.
- Future corporate profile of Altura Mining Limited is that of a company with a controlling interest in a Singapore listed coal investment entity, a developer of the World Class Pilgangoora lithium deposit and a provider of mining services.
- Altura conducting a non-renounceable rights issue to raise A$3.12 million (before issue costs).
- The rights issue is partially underwritten to an amount of A$2.4 million.
- Shareholders can purchase 2 New Shares for every 3 Existing Shares held, and will also receive 1 free attaching New Listed Option for every 2 New Shares acquired.
- Altura continues search for a strategic investment partner to develop the world class Pilgangoora project.
- Capital raising will allow for completion of feasibility studies and progression of the mining lease towards grant.
- Altura is encouraged with the progress to date having gained a better understanding of the concentrated nature of the Chemical Grade Lithium supply market.
- The Chemical Grade Lithium market continues to demonstrate encouraging long term fundamentals.