Altura To Raise $21.5 Million For Firing Up The Exploration at Pilbara Tenements

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Altura To Raise $21.5 Million For Firing Up The Exploration at Pilbara Tenements

Altura Mining Limited (ASX: AJM) plans to undertake a $21.5 million capital raising before cost to accelerate the exploration activities at recently acquired tenements in Pilbara.

  • Apart from the exploration activities, the company intends to expend the planned capital on incremental capital works at the lithium process plant at Pilgangoora; and on the working capital as the operation ramps up to the production of 220,000 wet metric tonnes of spodumene concentrate.
  • Altura would take the capital raising through a non-renounceable entitlement offer of two new fully paid ordinary shares for every thirteen existing fully paid ordinary shares held by Eligible Shareholders.

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