Altura Mining Ltd Stock Market Press Releases and Company Profile
Quarterly Activities Report for June 2016
Quarterly Activities Report for June 2016

Perth, July 29, 2016 AEST (ABN Newswire) - Altura Mining Limited (googlechartASX:AJM) (googlechartALTAF:OTCMKTS) provide the Quarterly Activities Report for the period ending June 2016 with the following significant highlights.

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

To view the full report, please visit:
http://abnnewswire.net/lnk/0O6LF9CS


About Altura Mining Ltd

Altura Mining LimitedAltura Mining Limited (ASX:AJM) is building a leading position in the independent supply of lithium raw materials, with a world class lithium project at Pilgangoora ready to set the platform and be the first new hard rock lithium product supplier in 2017. The Altura team has a track record of delivering mining projects with Pilgangoora the most advanced stage, near term producing lithium project; solid offtake partners and a market providing substantial growth opportunities to ensure positive shareholder returns.

abnnewswire.com 


Contact

James Brown
Managing Director
Altura Mining Limited
T: +61-427-988-898
www.alturamining.com



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