Sign up Australia
Proactive Investors - Run By Investors For Investors

Altech Chemicals shares rise as project financing is advanced

A German regulatory body has provided support for the producer of high purity alumina.
Map of Germany
Shares have rallied more than 20% in this morning's trading session

Altech Chemicals Ltd (ASX:ATC) (FRA:A3Y) has been advised by the German government inter-ministerial committee (IMC) that it has reached a positive decision on its application for project finance export credit cover.

Altech has welcomed the decision as it strives to meet its goal of becoming one of the world’s leading suppliers of high purity alumina.

Investors have been equally impressed with Altech trading as high as $0.265 in mid-morning trading, up from the previous day’s close of $0.215, an increase of more than 20%.

READ: Altech Chemicals attracts US$11M funding for Malaysian alumina project

Tan highlights IMC decision as outstanding milestone for the company

Iggy Tan, Altech managing director, said: “News of the IMC decision for offer of cover is an outstanding milestone for the company’s high purity alumina (HPA) project.

“It is the culmination of many years of hard work by Altech staff, consultants, EPC contractor SMS group GmbH, KfW IPEX-Bank and many others associated with the project”.

Complete details of the offer of cover are expected to be received in the coming days. 

View full ATC profile View Profile

Altech Chemicals Ltd Timeline

Related Articles

August 08 2018
The company has a joint venture with Nova-Bollinger owner Independence Group that could allow the bigger company to snap up its prospective nickel projects in South Africa.
March 07 2018
Production at Thalanga is forecast to grow more than 50% between 2018 and 2019.
July 28 2018
MGX has a three pronged approach to its strategy and growth; commodities, processes and mass storage

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use