from the ASX...Altura has been a shareholder in Lithium Corporation since 2012 and will now focus on upgrading its passive interest to active project involvement.
Letter of Intent for Earn-in Option for 60% of Fish Lake Valley project.
Fish Lake Valley is strategically located to support the North America lithium and electric vehicle market.
Altura to leverage its established battery materials relationships to uplift value for both Lithium Corporation and Altura.
Successfully raised $30 million to fully fund Rincon Lithium Project through to 2,000tpa lithium carbonate production and cash-flow generation.
Rincon 2,000tpa plant development on schedule with construction works 10% complete and first Li2CO3 product targeted from mid-2022, with fully modular design for planned expansion to 10,000tpa operation.
20 tonne cargo of high-purity battery quality >99.5% lithium carbonate product from Argosy’s industrial scale pilot plant delivered to Korean customer.
JORC Exploration Target delineated for Rincon Lithium Project demonstrates potential to materially expand current JORC Indicated Resource estimate and increase Project mine life & future production capacity.
Long-term pumping data confirmed positive results exceeding previous PEA results – permeability may be >2.5 times higher with aquifer transmissivity at production bore PRP1 estimated to be 7,500m/day after 120 days of pumping.
10,000tpa Environmental Impact Assessment report submitted to Salta Province regulatory authority.
The Company has an exclusive and proprietary environmentally clean/green chemical process technology with very low energy and raw water requirements to produce battery quality lithium carbonate acceptable for high-spec international markets, and pursue a complementary lithium hydroxide production strategy.
Salta government providing strong support for full development of Rincon Lithium Project, with plans to develop a mining logistics node for mining and energy activities in the Puna region adjacent to Rincon.
Argosy accepted as a member of the European Raw Materials Alliance (ERMA)
Highly experienced lithium industry executive, MrAlex Cheeseman appointed as Chief Executive Officer to guide the new Altura forward.
Appointment allows the next growth phase of Altura as a new team is assembled.
Director resignation of Mr Paul Mantell.
Appointment Mr John Lewis as Company Secretary.
New corporate address.
Richard Tucker and John Bumbak of KordaMentha were appointed as Receivers and Managers of the Group on 26 October 2020 by the security agent, BNY Trust Company of Australia Ltd. The Receivers and Managers understand that Voluntary Administrators have also been appointed to the Group.
Altura Mining Limited (ASX Code: AJM) requests an extension of the voluntary suspension currently in place on its securities under ASX Listing Rule 17.2 pending the finalisation of proposed changes to its current financing arrangements. The Company expects to be able to make an announcement to the market before the commencement of trading on Tuesday 25 August 2020.
Altura Mining Limited (ASX Code: AJM) requests that a voluntary suspension be placed on its securities immediately pursuant to ASX Listing Rule 17.2 in order to enable the Company to finalise with its lenders proposed changes to its current financing arrangements. The Company expects to be able to make an announcement to the market before the commencement of trading on Tuesday 18 August 2020.
Production Altura recorded its fifth consecutive quarter of commercial production, with quarterly production of 46,316 wet metric tonnes (wmt) of lithium concentrate (March quarter 42,282 wmt). Average quarterly operating cash cost of US$369/wmt produced (FOB basis), ((March quarter US$345/wmt (FOB basis)) and reaffirms Altura as one of the lowest cost hard-rock producers globally. Financial Year production of 181,264 wmt of lithium concentrate, representing 82% of nameplate capacity. Sales and Marketing Five-year Binding Offtake Agreement signed with Hunan Yongshan Lithium Co., Ltd. Record quarter with 60,950 wmt (58,208 dry metric tonnes (dmt)) sold and shipped (March quarter 24,500 wmt/ 22, 564 dmt).
Multi-year contracts to supply lithium concentrate; Five-year Binding Offtake Agreement with Hunan Yongshan Lithium Co.,Ltd (owned by parent company Ningbo Shanshan Co., Ltd) commencing in January 2021; Minimum of 60,000 dry metric tonnes (dmt) per annum from January 2022; Binding Offtake Agreement includes options to agree an increase in supply to 120,000 dmt per annum; Single year contract with Hunan Yongshan Lithium Co., Ltd to supply 44,000 dmt in 2020 to provide feedstock for plant commissioning and ramp up; Agreement underpins Shanshan’s focus on lithium chemicals/lithium battery supply chain integration.
Record quarter for sales with shipments of 60,950 wet metric tonnes (wmt); Quarterly production on track to achieve approximately 45,000 wmt; Further shipment scheduled to commence loading in early July 2020; Continued supply to existing off-take partners.
Strategic review of Earn-in Agreement with Sayona Mining. Refocused search in the world-class Pilbara lithium mining district. AItura commences detailed mapping and sampling of targeted tenements.
