Quarterly Activities & Cash Flow Report
Perth, Nov 1, 2017 AEST (ABN Newswire) - Altech Chemicals Ltd (
ASX:ATC) provides the Company's Quarterly Activities & Cash Flow Report.
HIGHLIGHTS
Works Approval granted for Meckering kaolin deposit
- Works Approval granted by WA Department of Water and Environmental Regulation (DWER)
o Construction of kaolin screening and loading facility at Meckering approved
o Works include ROM stockpile, evaporation pond, trommel screening unit, and loading facility
- Meckering kaolin mining also fully permitted to proceed, subject to funding
Export credit finance approval target date set
- Successful independent project finance due diligence program completed with no fatal flaws identified
- Target date of 14 December 2017 set for decision making by German government inter-ministerial committee (IMC) for German ECA cover approval
- Expert Opinion report for Euler Hermes (German ECA)
- Target date a significant milestone for the development of the HPA project
Option to purchase Meckering mining lease land exercised
- Option to purchase Meckering freehold land over Altech's granted mining lease M70/1334 exercised
- Construction of Meckering kaolin mine, screening and loading facility fully permitted
Altech finalises 4,500tpa HPA plant design
- Upgraded 4,500tpa capacity HPA plant design
- Plant process flow sheet optimised and finalised
- Flexible finishing line capable of producing sapphire grade and battery grade HPA
Positive Final Investment Decision Study (FIDS)
- Positive outcome from Final Investment Decision Study (FIDS) for 4,500tpa HPA project
- Study economics include:
o Pre-tax NPV7.5 US$ 505 million
o Internal Rate of Return (IRR) 22%
o Payback (full rate) 3.9 years
o EBITDA US$ 76 million p.a.
o Capital cost US$ 298 million
- Total target debt by KfW IPEX-Bank US$ 185 million
- US$ 165 million export credit finance, US$ 20 million at commercial terms
Successful A$17 million share placement
- US$4.0 million (~A$5.1 million) commitment from German engineering firm SMS group
- A$3.0 million commitment from Melewar Group
- Significant demonstration of confidence in Altech and its HPA project
To view the full report, please visit:
http://abnnewswire.net/lnk/PSXS49JY
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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