Our board moves wrap includes Andrew Muir, Philip Re, Stephen Carter, Paul Rennie, James Brown, Colin Noid, Joan Dabon, Loren King, Michael Higginson, and Jonathan Lea.
Perth-based lithium producer Altura Mining has been placed in receivership after the ASX-listed company was unable to refinance its debt, placing 100 jobs at risk.
Lithium producer Altura Mining has received a three-year extension on its existing $244 million loan facility, but at a price of adding 5 per cent to the total loan amount and issuing additional shares to the lenders.
Altura Mining has announced plans to raise approximately $21.5 million through a rights issue to primarily fund works on its flagship lithium operation in Western Australia.
Altura Mining has recorded solid June quarterly results, but its share price still dropped, amid concerns of a supply and demand imbalance in the lithium sector.
Ningbo Shanshan, which last month became Altura Mining's largest shareholder, has invested an additional $22.4 million in the lithium miner via a share placement.
Shares in Altura Mining have surged 37 per cent since late Wednesday, after the company announced positive production results and its struggling former biggest investor sold its remaining stake in the company.
Altura Mining has declared its Pilgangoora lithium project is now producing commercial amounts of lithium, while increasing its share purchase plan from $5 million to $10 million.
Altura Mining has announced it its closer to the production target at its Pilgangoora lithium project, after it made improvements to the processing plant.
Altura Mining has announced details of a capital raising to fund its Pilgangoora lithium project in the Pilbara, with company directors contributing $15.46 million towards the financing package.
This week's board moves wrap includes Chris Evans, James Brown, Bradley Boyle, Neil Hackett, Peter Spitalny, Mike Young, Tomer Segev, Eran Gilboa, Justin Walawski, Wen Qian, Jason Livingstone, Robert Klug, Paul Kitto, Paul Burton and Mark Strizek.
Processing plant problems at Altura Mining's Pilgangoora lithium mine have slowed output ramp-up, with about 24,000 tonnes of lithium shipped so far from the 220,000tpa facility, nearly six months after production began.
Shares in Altura Mining have finished 36 per cent higher today after the lithium producer announced an offtake deal with Chinese company Ganfeng Lithium.
Lithium producer Altura Mining has secured an additional $US15 million of debt funding to support a second stage expansion and the ongoing ramp-up of its Pilgangoora operation, after officially opening the project last week.
Talison Lithium has confirmed it will build a third concentrator at the Greenbushes lithium mine to boost output to 1.95 million tonnes per annum, but the owner of tantalum rights at the project has again warned the expansion will be subject to an ongoing legal battle.
Altura Mining has taken the next step to double capacity at its Pilgangoora project, approving a definitive feasibility study for expansion to 440,000 tonnes per annum of lithium concentrate, while confirming shipments from stage one of the mine are due in the second quarter of 2018.
Lithium-focused Altura Mining has raised $26 million from investors as it prepares for a second-stage development of its flagship project in the Pilbara.
Altura Mining has attracted a Chinese lithium battery producer for a $41.6 million investment in the business to assist with the development of its Pilgangoora lithium project in the Pilbara.
