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Altura Mining Ltd.
Summary
| Project: | Pilgangoora | |
|---|---|---|
| Deposit: | Pilgangoora | |
| Location: | Australia | |
| Commodities: | Lithium | |
| Date: | 4/30/2018 | |
| Report Code: | JORC | |
| Report Type: | Feasibility Study | |
| Project Stage: | Mine Development | |
| Report details: | 30-4-2018: Altura Mining Ltd. announces a Feasibility Study report for its Pilgangoora deposit at the Pilgangoora project. DFS results incl. post-tax NPV of A$834.6M (10%), IRR of 62.6%, and 13yr LOM at the project. Altura Mining Limited (ASX: AJM) (“Altu | |
| Resources: | (Reserve, P+P): 34.2Mt @ 1.04% Li2O, 2.16% Fe2O3 for 356.6Kt Li2O contained | |
| CP/QP: | [Resources]: Stephen Barber (Internal) | |
| ABSTRACT: | Altura Mining Limited (ASX: AJM) (“Altura” or the “Company”) is pleased to announce the results of the Stage 2 Definitive Feasibility Study (DFS) completed on its 100% owned Pilgangoora Lithium Project in Western Australia’s Pilbara region. The DFS demonstrates that expanding output would be an extremely robust opportunity that would add significant project value over a short period of time. The potential expansion of the project comes as the global lithium market continues to remain strong. The Stage 2 DFS has included the substantial growth in the Mineral Resource and Ore Reserve estimate inventory that Altura has realised over the past eighteen months since the Stage 1 study completion. The Stage 2 DFS was able to incorporate lessons learnt from the nearly completed Stage 1 project to position Altura in effectively meeting the growing global demand for lithium Altura has significantly de-risked the execution of the Stage 2 project by already having all major statutory approvals in place, having all product for the first three years already accounted for through existing offtake agreements and having the personnel and contractors already in place to commence construction. Managing Director of Altura, Mr James Brown said that the recently completed DFS was an excellent result for both the Company and shareholders. “The swift completion of the Stage 2 DFS has provided excellent outcomes and provides the platform to move Altura into a strong global supply position. The DFS team has been able to utilise the knowledge from Stage 1 and effectively provide opportunities to capitalise on that experience. The Company focus remains on commissioning Stage 1 as planned which will allow for a formal investment decision to move to Stage 2 reaching total nameplate production of 440,000 tpa in early 2020.” | |
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