Quarterly Activities and Cash Flow Report
Perth, Jan 30, 2015 AEST (ABN Newswire) - Altech Chemicals Ltd (
ASX:ATC) announce the Quarterly Activities and Cash Flow Report for the period ending December 2014 with significant highlights.
Name change to Altech Chemicals Ltd
- The Company's name was officially changed to Altech Chemicals Ltd on 10 November, 2014
- New ASX ticker code: ATC
- New website: www.altechchemicals.com
Altech selects Johor Bahru (Malaysia) for HPA plant site
- HPA processing plant will be based in Johor Bahru (Malaysia)
- Estimated opex ~40% lower compared to Australianbased operation
- Capex for HPA plant estimated at ~50-60% lower
- Letter of Intent (LOI) to reserve lot in Johor Bahru's
Tanjung Langsat Industrial Park
- Local environmental consultant appointed to assist with project approvals
BFS optimisation of HPA plant output
- Altech's Bankable Feasibility Study (BFS) confirmed an optimised annual production rate for the proposed HPA plant
- Plant annual production rate increased to 4,000tpa
Altech optimises Meckering beneficiation process
- Wet processing selected for beneficiation of the Meckering aluminous clay deposit
- Significant benefits include:
- Superior alumina recovery
- Lower capital and operating costs
- Improvements in concentrate alumina grades
Altech receives $0.46m R&D tax refund
- R&D Tax Incentive refund of A$0.46 million for costs of R&D activities during 2013/2014 financial year
Annual General Meeting
- AGM held on 5 November, 2014
- Results of meeting in favour of all resolutions including proposed name change to Altech Chemicals Ltd
Non-renounceable pro-rata Entitlement Offer
- One (1) new share at $0.10 for every four (4) shares held, with a free attaching listed option (exercise price $0.10, expiring of 15 Dec 2015) closed 19 December, 2014
- In total, Entitlement Offer raised $402,774
Breakaway Research 'Initial Coverage' Report
- Mid-point valuation of $0.25/share by Breakaway Research
- Based on 7.5% of the full project value as the project is in the early stages
- Valuation ranged from US$260m - US$360m
Mineral sands joint venture finalised
- JV agreement finalised with Midas Engineering Group (formerly METS) for project co-operation at the South West Titanium Project (formerly Glenarty Creek mineral sands project)
To view the full quarterly, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-ATC-708284.pdf
About Altech Batteries Ltd
Altech Batteries Limited (ASX:ATC) (FRA:A3Y) is a specialty battery technology company that has a joint venture agreement with world leading German battery institute Fraunhofer IKTS ("Fraunhofer") to commercialise the revolutionary CERENERGY(R) Sodium Alumina Solid State (SAS) Battery. CERENERGY(R) batteries are the game-changing alternative to lithium-ion batteries. CERENERGY(R) batteries are fire and explosion-proof; have a life span of more than 15 years and operate in extreme cold and desert climates. The battery technology uses table salt and is lithium-free; cobalt-free; graphite-free; and copper-free, eliminating exposure to critical metal price rises and supply chain concerns.
The joint venture is commercialising its CERENERGY(R) battery, with plans to construct a 100MWh production facility on Altech's land in Saxony, Germany. The facility intends to produce CERENERGY(R) battery modules to provide grid storage solutions to the market.
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