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Latrobe Magnesium readies to raise funds

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Latrobe Magnesium (ASX:LMG) is developing a magnesium production plant in Victoria's Latrobe Valley using its world-first patented extraction process.

Last month the company progressed the first of its large-scale concrete trials on the supplementary cementitious material (SCM) from its recently processed China sample.

The SCM is being targeted as a commercial by-product of LMG’s process of extracting magnesium from large volumes of spent fly ash in Victoria’s Latrobe Valley.

The price of its SCM will be set somewhere between the cost of fly ash and the cost of cement delivered in Melbourne. These costs are between $120-180 per tonne.

The revenue generated by this product significantly enhances the value of the Latrobe Magnesium project.

LMG’s SCM is produced without emitting any CO².

LMG is now heading to market with a capital raising, and the ASX has granted the company a trading halt.

The halt will remain in place until the opening of trade on Wednesday 15th April 2015, or earlier if an announcement is made to the market.

 

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Quick facts: Latrobe Magnesium Ltd

Price: 0.016 AUD

ASX:LMG
Market: ASX
Market Cap: $20.74 m
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