Perth, July 31, 2017 AEST (ABN Newswire) - Altech Chemicals Ltd (ASX:ATC) provides the Company's Quarterly Activities & Cash Flow Report for the period ending 30 June, 2017.

HIGHLIGHTS

- SMS group appointed as EPC contractor for Malaysian HPA plant

o Leading German global engineering and construction firm

o Prior experience in HPA processing

o Additional throughput, process and quality guarantees

- US$100,000 share subscription by SMS group

o Initial share subscription of US$100,000 by EPC contractor SMS group

o Demonstrates support and confidence for HPA project

o Project equity or subordinated debt support at project financial close

- HPA project due diligence update

o Update on project finance due diligence activities, nearing completion

o Independent due diligence reports are extensive and detailed

o No fatal flaws identified

- $1.85 million raised via share purchase plan and placement

o $1.85 million raised via SPP and share placement

o Issue price of $0.11 per share (5% discount to 5 day VWAP)

o >250 shareholders participated

- Completion of $2 million share placement to existing cornerstone investor

o $2 million received from share placement to existing cornerstone investor MAA Group Berhad

o Funds applied to detailed design and engineering

o Shares issued at $0.14 per share

- Completion of EPC data transfer to SMS group

o Transfer of engineering data to SMS group's EPC team successfully completed

o Key engineering personnel remain available to assist SMS's team

o High quality engineering work by previous contractor

o Malaysian site visit conducted by SMS

o EPC fixed price estimate well advanced

To view the full report, please visit:
http://abnnewswire.net/lnk/F7M1FBG4


About Altech Chemicals Ltd

Altech Chemical Ltd ASX:ATCAltech Chemicals Limited (ASX:ATC) (FRA:A3Y) is aiming to become one of the world's leading suppliers of 99.99% (4N) high purity alumina (HPA) (Al2O3).

HPA is a high-value, high margin and highly demanded product as it is the critical ingredient required for the production of synthetic sapphire. Synthetic sapphire is used in the manufacture of substrates for LED lights, semiconductor wafers used in the electronics industry, and scratch-resistant sapphire glass used for wristwatch faces, optical windows and smartphone components. There is no substitute for HPA in the manufacture of synthetic sapphire.

Global HPA demand is approximately 25,315tpa (2016) and demand is growing at a compound annual growth rate (CAGR) of 16.7% (2016-2024), primarily driven by the growth in worldwide adoption of LEDs. As an energy efficient, longer lasting and lower operating cost form of lighting, LED lighting is replacing the traditional incandescent bulbs.

    


Contact

Iggy Tan
Managing Director
Altech Chemicals Limited
Tel: +61-8-6168-1555
Email: info@altechchemicals.com

Shane Volk
Company Secretary
Altech Chemicals Limited
Tel: +61-8-6168-1555
Email: info@altechchemicals.com

Investor Relations (Europe)
Kai Hoffmann
Soar Financial Partners
Tel: +49-69-175-548320
Email: hoffmann@soarfinancial.com



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