Alliance Breaks Monthly Lithium Production Record at Bald Hill

Alliance Breaks Monthly Lithium Production Record at Bald Hill

Alliance Mineral Assets shaw its share price skyrocket 18.18 percent on the ASX on Thursday after the news hit.

Alliance Mineral Assets (ASX:A40) has achieved record monthly lithium production at its Bald Hill lithium-tantalum project in Western Australia.

In January 2019, the company produced 13,160 tonnes of lithium concentrate at an estimated grade of 6.15 percent lithium oxide (Li2O).

Bald Hill processed 131,400 tonnes of ore at an average rate of 237 tonnes per hour, putting it 30 percent above nameplate capacity and 23 percent higher than throughput in December 2018.

With a head grade of 0.93 percent Li2O and gross recovery of 64.2 percent, January’s lithium concentrate production was 28 percent higher than December 2018.

“Lithium concentrate production for January 2019 was up 28 percent on December 2018 total production and is an excellent start to the current quarter. The quantity of lithium concentrate shipped over the last week is also a record for Alliance,” Alliance Managing Director Mark Calderwood said in a statement.

The company shipped 20 tonnes of tantalum grading approximately 30 percent tantalum pentoxide (Ta2O5) in January. Shortly afterwards, Alliance sent off 23,232 wet metric tonnes of lithium concentrate on February 2 and 3; it is expected to bring in AU$26 million in revenue.

Alliance is planning to ship an additional 20 tonnes of tantalum, also grading 30 percent Ta2O5, on Friday (February 8). Going forward, the company intends to also ship — or prepare for shipment — 30,000 tonnes of lithium concentrate during the March 2019 quarter.

“A number of requests for lithium concentrate are currently being reviewed and we expect to ship, or have ready for shipment an additional 30,000 tonnes of premium quality lithium concentrate during the quarter. Interest in long term off take for Bald Hill’s high-grade lithium concentrate remains strong,” Calderwood added.

Lithium concentrate guidance for the half year to June 30 is still docketed at 65,000 to 80,000 tonnes.

Bald Hill was formerly a 50/50 joint venture between Alliance and Tawana Resources; however, the two companies merged in December 2018, making Alliance the sole owner and operator.

Alliance’s share price skyrocketed 18.18 percent on the ASX on Thursday (February 7), closing the trading day at AU$0.195 per share.

Don’t forget to follow us @INN_Resource for real-time news updates!

Securities Disclosure: I, Olivia Da Silva, hold no direct investment interest in any company mentioned in this article.

Petratherm Limited Announces Filing of Early Warning Report Related to the Disposition of Common Shares of Outback Goldfields Corp.

Petratherm Limited (ASX: PTR) (“Petratherm”) announces that it has filed an early warning report (the “Report”) announcing that it has disposed of 33,333,333 common shares (the “Disposed Shares”) of Outback Goldfields Corp. (CSE:OZ) (formerly, Skarb Exploration Corp.) (“Outback Goldfields“). Petratherm acquired the Disposed Shares as consideration for the sale of its gold projects located in Victoria, Australia. Unless permitted under securities legislation, Petratherm must not trade the common shares before April 16, 2021. Following the expiry of this restriction period, Petratherm distributed all of the Disposed Shares in specie to its shareholders effective today. Following the disposition of the Disposed Shares, Petratherm holds nil shares of Outback Goldfields.

This press release is being issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bids and Insider Reporting Issues in connection with the filing of the Report by Petratherm.

Keep reading... Show less

AU$4 Billion Galaxy/Orocobre Merger to Create Top 5 Lithium Company

Australia’s Orocobre (TSX:ORL,ASX:ORE) and Galaxy Resources (ASX:GXY,OTC Pink:GALXF) agreed this week to join forces in a AU$4 billion “merger of equals.” The deal comes as demand for lithium for electric vehicle (EV) batteries continues to pick up pace.

Once the merger is complete, the new company will become a top five lithium chemicals company globally — and top three outside of China — with production capacity of around 40,000 tonnes of lithium carbonate equivalent per year.

“The merged entity’s growth opportunities in both brine and hard rock position it uniquely to take advantage of expected rising EV demand for lithium,” Galaxy Chairman Martin Rowley said.

Keep reading... Show less

IIROC Trading Halt – TMRR

The following issues have been halted by IIROC:

Company: Tempus Resources Ltd.

Keep reading... Show less

Cleantech Investing in Australia

Climate change is a looming issue for Australians, with 82 percent concerned about bushfires and 81 percent worried that drought or flooding will affect crop production and food supply.

This is where conscious investors look to the cleantech sector, which covers everything from renewable energy to low-emission technologies to water technology to battery storage and more.

What should investors know about cleantech in Australia before they jump in? Read on for a look at key factors, including market size, the industries encompassed by cleantech and big players to watch.

Keep reading... Show less

Galaxy Resources Limited Announcement

Galaxy Resources Limited (ASX: GXY) ( Company ) advises that the following announcement has been made to the Australian Securities Exchange which appears on the Company’s platform (ASX):

  • Becoming a substantial holder

The announcement can be viewed at:
https://www2.asx.com.au/markets/trade-our-cash-market/announcements.gxy

Keep reading... Show less

Top News

Related News