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Altura secures extra US$15 million for lithium project

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Global Mining Review,

Altura Mining Limited has arranged an amendment deed with its existing loan note holders to be provided with an additional US$15 million for the Altura lithium project.

The terms of the amendment deed are in line with the existing US$110 million senior secured loan note facility that was executed in July 2017. Importantly, this additional capital has been raised without the issue of further equity securities, which would have resulted in some dilution for existing shareholders.

Altura’s Managing Director James Brown said it was pleasing to continue to receive the strong support of our project financiers.

“The additional funds will ensure the efficient ramp-up of commissioning towards nameplate capacity at the Altura lithium project, continued exploration of the company’s portfolio of tenements and ongoing work on the Stage 2 expansion which targets a doubling of production to 440 000 tpy in the first half of 2020.”


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Lithium mining news