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Altech Chemicals positive technical report progresses debt

A technical report prepared as part of debt due diligence has positive findings.

folder labeled due diligence
Site establishment work is now underway at the Malaysian site

Altech Chemicals Ltd (ASX:ATC) continues to advance towards securing mezzanine debt for its proposed high-puriuty alumina (HPA) plant in Johor, Malaysia.

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

READ: Altech Chemicals begins site establishment work at Malaysian 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.

Quick facts: Altech Chemicals Ltd

Price: 0.041 AUD

Market: ASX
Market Cap: $35.69 m

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Full interview: Altech Chemicals progresses HPA plant construction in...

Altech Chemicals Ltd (ASX:ATC) managing director Iggy Tan updates Proactive on HPA plant construction activities at the company’s high purity alumina (HPA) plant site in Johor, Malaysia. The majority of Stage 1 construction is nearly complete, the workshop building and OSD Tank walls have...

on 19/9/19

2 min read