Perth, May 1, 2017 AEST (ABN Newswire) - Altech Chemicals Ltd (ASX:ATC) is pleased to provide the Company's Quarterly Activities & Cash Flow Report.

HIGHLIGHTS

Debt due diligence at an advanced stage

- Confirmatory pilot plant test work completed in South Africa, Australia and Germany

- HPA market study completed

- Technical due diligence at an advanced stage

- Permitting in Malaysia and Australia progressed

Fixed price EPC contract targeted for HPA plant construction

- Fixed price EPC contract framework agreed

- Warranty, performance and completion guarantees will apply

- Liquidated damages for late completion and bonus for early delivery of plant

- Significantly de-risks the HPA project for shareholders and debt providers

- Detailed engineering ongoing to determine EPC contract fixed price amount

Mining approval received for Meckering kaolin deposit

- Mining proposal approved for Altech's Meckering kaolin deposit (M70/1334)

- Important development milestone for supply of kaolin feedstock to Malaysian HPA plant

- Mining can proceed immediately when required

- Initial mining campaign of two-months to stockpile 3 years' supply of kaolin for HPA plant feedstock

Frankfurt Stock Exchange dual listing of Altech shares

- Dual listing of Altech shares on Frankfurt Stock Exchange

- Altech shares trade under the symbol "A3Y"

- Broadens Altech's European investor appeal, particularly in Germany

- Overcomes time zone and account issues for European retail investors

A$2 million share placement to cornerstone investor

- A$2 million raised via share placement to existing cornerstone investor

- Placement priced at $0.14 per share, an 8% premium

- Existing Malaysian shareholder MAA Group Berhad

- Funds applied to detailed design and engineering

HPA plant detailed engineering well advanced

- Plant detailed design and engineering well advanced

- 55 M+W Group personnel allocated to the project

- Progressing in accordance with revised schedule

- Supplier and vendor firm quotations being submitted

- Final design incorporates scope changes and recommendations from due diligence

To view the full report, please visit:
http://abnnewswire.net/lnk/06C7D76X


About Altech Chemicals Ltd

Altech Chemical Ltd ASX:ATCAltech Chemicals Limited (ASX:ATC) (FRA:A3Y) is aiming to become one of the world's leading suppliers of 99.99% (4N) high purity alumina (HPA) (Al2O3).

HPA is a high-value, high margin and highly demanded product as it is the critical ingredient required for the production of synthetic sapphire. Synthetic sapphire is used in the manufacture of substrates for LED lights, semiconductor wafers used in the electronics industry, and scratch-resistant sapphire glass used for wristwatch faces, optical windows and smartphone components. There is no substitute for HPA in the manufacture of synthetic sapphire.

Global HPA demand is approximately 25,315tpa (2016) and demand is growing at a compound annual growth rate (CAGR) of 16.7% (2016-2024), primarily driven by the growth in worldwide adoption of LEDs. As an energy efficient, longer lasting and lower operating cost form of lighting, LED lighting is replacing the traditional incandescent bulbs.

    


Contact

Iggy Tan
Managing Director
Altech Chemicals Limited
Tel: +61-8-6168-1555
Email: info@altechchemicals.com

Shane Volk
Company Secretary
Altech Chemicals Limited
Tel: +61-8-6168-1555
Email: info@altechchemicals.com

Investor Relations (Europe)
Kai Hoffmann
Soar Financial Partners
Tel: +49-69-175-548320
Email: hoffmann@soarfinancial.com



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