Altech Chemicals Ltd (ASX:ATC) currently has a Share Purchase Plan (SPP) open allowing shareholders to apply to up to $15,000 worth of new shares, at $0.086 per share.
This follows a $1.2 million placement at the same price.
The SPP has a closing date of (WST) Friday 8 April 2016, and Altech has said there will be no extension.
Funds raised will be applied to finalising the detailed design of the company’s proposed high purity alumina (HPA) plant at Johor, Malaysia, for the completion of debt financing and for general working capital purposes.
Altech 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 artificial sapphire.
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