Ann: Pilgangoora - Native Title Agreement & Project Update-AJM.AX, page-55

Six companies leveraging the Lithium Boom

By:Team Kalkine
FacebooklinkedinTwitterGoogle+

Altura Mining LtdAJM DetailsRaising capital to strengthen balance sheet: Altura Mining Ltd (ASX: AJM) has announced that it has agreed to terms and executed the Native Title Agreement (NTA) with the Njamal people with regard to the Altura’s 100% owned Pilgangoora Lithium Project. The company also reported for settlement of $20 million share placement as per the recent capital raising initiative. Further key updates for the project include Definitive Feasibility Study (DFS) process design being awarded to DRA Pacific Pty Ltd, identification of 8 prospective lithium target areas within existing tenement package and achievement of 4 tonnes of mineralised core for process flow optimisation testwork. In addition, AJM is conducting a Share Purchase Plan (SPP) to raise almost $3m.Pilgangoora FS Project Details (Source: Company Reports)The Pilgangoora FS Project with a mineral resource estimate of 35.7mt @ 1.05% Li2O and ore reserve estimate of 18.47mt @ 1.07% Li2O would start production from Q3 2017. AJM stock rose 227.27% in the six months (as of July 06, 2016). Still, the company is one of the cheapest lithium producers with reserves in excess of 25 MT (yielding approximately 310,000 tonnes of lithium oxide) at its flagship mine in Western Australia and accordingly we maintain our “Buy” recommendation on the stock at the current price of $0.185AJM Daily Chart (Source: Thomson Reuters)Pilbara Minerals LtdPLS DetailsOfftake agreement and acquisition of Pilgangoora ...

http://www.kalkine.com.au/stockresearch/six-companies-leveraging-the-lithium-boom.aspx