Quarterly Activities Report – June Qtr 2016

     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

Posted in 2016 ASX