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

1 min read | October 17, 2019 01:54 PM AEDT | By Team Kalkine Media

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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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