Morella Corporation

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 Pilbara Minerals has resolved to approve the stage two expansion at its Pilgangoora mine once all necessary approvals and funding have been secured.

ANNIVERSARY SPECIAL: The Pilbara has a diverse and colourful mining history, including gold, tantalum, beryl and lithium.

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.

Lithium producer Altura Mining has entered a trading halt, with a plan to raise about $30 million for working capital, a day after it reported production at its Pilgangoora processing plant was improving.

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.

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 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 increased its share purchase plan (SPP) by $4 million, just two days after it upsized the offer from $5 million to $10 million.

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 a new major shareholder, after Ningbo Shanshan acquired Shaanxi J&R Optimum Energy’s shares in the lithium miner.

Altura Mining and Pilbara Minerals have struck offtake agreements with Chinese firms for lithium concentrate from their respective Pilgangoora projects.

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.

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.

Galaxy Resources said it expects to record a non-cash impairment charge of between $US150 million ($222 million) and $US185 million ($274 million) for the first half of 2019, reinforcing the current bleak conditions in the lithium sector.

Galaxy Resources has confirmed interest in striking a downstream processing deal with Alita Resources’ offtake partner, just a day after placing the lithium miner into receivership, while Talison is reconsidering the timing of its $516 million stage three expansion project at Greenbushes.

Gold Road Resources and Silver Lake Resources will join the S&P/ASX 200 index, while Seven West Media was among the losers in the indices reshuffle, as the quarterly rebalance of the S&P/ASX indices was announced today.

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.

At least $1.6 billion of equity has been raised by WA-linked critical minerals hopefuls in the past five years, but achieving consistent returns is another battle.

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.

Civmec has filed a statement of claim against Altura Mining’s lithium subsidiary, with the contractor alleging it is owed $4.5 million in compensation.

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.

Pilbara Minerals has lodged a $US175 million bid for fellow lithium miner Altura Mining, though Altura is working on its own recapitalisation plan after being put in receivership.

Investors are already factoring in the opportunities a COVID-19 vaccine will deliver.

Galaxy Resources, Pilbara Minerals and Altura Mining will receive a 50 per cent rebate on royalties paid, due to the declining spodumene concentrate price.

Pilbara Minerals has moved closer to gaining control of Altura Mining’s key asset after striking a $US175 million agreement with the lithium miner’s receivers and managers.

Pilbara Minerals has launched a $240 million equity raising to fund its acquisition of Altura Mining’s Pilgangoora lithium project.

Several Perth companies executed value-creating mergers and acquisitions last year, none more so than Pilbara Minerals.

Shares in NRW Holdings fell sharply today after the contractor’s earnings were hit by higher operating costs and lower productivity in the Pilbara.

Lithium miner Pilbara Minerals has achieved record quarterly production from its Pilgangoora operations in WA while signalling an uptick in demand for spodumene concentrate.

The board of Pilbara Minerals has approved the restart of a lithium plant it acquired from Altura Mining, expected to boost the company’s overall production.

The noteholders in one-time lithium producer Altura Mining are set for a windfall gain, after the value of shares they are due to receive in Pilbara Minerals rocketed.

Lithium miner Pilbara Minerals has started commissioning its Ngungaju plant which it acquired from Altura Mining earlier this year.

From struggling junior explorers to booming miners, Tony Kiernan has a breadth of experience few company directors can match.

ASX-listed companies have detailed roughly $2 billion in JobKeeper payments spanning the last two financial years, with only a handful making voluntary repayments.