In May 2018, the company received an indicative non-binding mezzanine debt term sheet for US$90 million from a global investment bank.
Since this time, a technical report has been compiled and updated to extensively review the proposed HPA project.
Notably, the report concludes that Altech has suitably proposed mitigation steps to manage the identified technical risk areas and the report is currently been reviewed by the mezzanine debt provider.
Proposed lender now reviewing report
Altech’s HPA project has now been the subject of two detailed independent technical reviews, both of which have culminated in positive and satisfactory conclusions.
The proposed mezzanine lender is reviewing technical advisor report thoroughly and will advise the company of its next steps and timeline.
Model of proposed HPA plant
Last week, Altech received approval for a development order at the company’s HPA plant.
Site establishment work is now underway and once this is completed stage I construction will begin.