Altech Chemicals Ltd publishes March 2015 Quarterly Report on 30th May.
Highlights of the report:
Altech appoints BFS partners and key suppliers for HPA operation
• Seatram appointed as Altech's transport and logistics services provider
• M + W Group appointed as the EPCM partner to facilitate transition from BFS to construction
• Tialoc Group (formerly Atea) appointed as composites supplier for Altech's Malaysian HPA plant
• Castle Group as mining and processing partner for Altech's Meckering aluminous clay operation
Malaysian subsidiary incorporated for HPA project
• Incorporation of wholly-owned Malaysian subsidiary 'Altech Chemicals Sdn Bhd' on January 6, 2015 to support Altech's Malaysian-based activities
Altech produces competitive HPA results
• Analysis of Altech's HPA samples confirmed lower levels of impurities compared to other HPA competitors
• Results of test work incorporated into process design for further optimization
Altech secures partner to fund bulk kaolin study
• Altech signed MOU with Dana Shipping to fund ~$100,000 bulk kaolin scoping study
• MOU provides a First Option over 10Mt of kaolin for a $1m share placement and 2% gross sales royalty
• Second Option for a further 10Mt of kaolin, for an additional $1m share placement and 2% gross sales royalty
$815,000 received from R&D advance loan facility
• Advance of $815k provides immediate funds equivalent to forecast R&D tax rebate for 2014/2015 year
• Funds will allow Altech to accelerate its BFS and ongoing R&D activities
Altech commences permitting process for HPA plant in Malaysia
• First stage of process involves the Preliminary Site Assessment (PAT)
• Altech’s HPA plant is designed to meet both international and Malaysian standards
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