viewAmerican Pacific Borates Ltd

American Pacific Borate & Lithium says US listing is possible given investor interest

Commencement of project construction is targeting the December quarter on a fully permitted basis, subject to financing and permitting.

Location of the Fort Cady and Salt Wells Projects in the USA
Basic engineering for the project is nearing completion

American Pacific Borate & Lithium Ltd (ASX:ABR) has had a busy June quarter for its flagship Fort Cady Borate Project in southern California.

Fort Cady, which was recently rated as the best development project globally in the rated peer group, is targeting commencement of construction in the December quarter this year.

The company raised $3.1 million through a share placement in May 2019, which has been deployed to progress construction related engineering activities.

Basic engineering work is expected to be completed in August 2019 with a view to quickly move into detailed engineering to ensure construction timelines can be met.

The financing process has commenced

ABR commenced an informal financing process in late April 2019  to test market appetite for substantially debt financing the capex required to build Phase One A of the project.

The company has been pleased with how these discussions are progressing in advance of potentially running a formal financing process over the coming months.

Dual-listing in US is a possibility

During June 2019, ABR presented at New York’s 121 Mining Conference and London’s Mining Journal Select Conference.

Given the positive investor response, over the coming weeks the company expects to engage US based investor relations professionals.

The increased engagement in the US is part of a strategy that may see a dual listing onto a New York exchange in the June half of 2020.

READ: American Pacific Borate and Lithium on track to begin Fort Cady construction in Q4

Earlier this year, a definitive feasibility study (DFS) valued the three-phase Fort Cady Project at US$1.08 billion.

Furthermore, since the release of the DFS, process optimisation work has shown the project can consistently deliver a technical grade premium boric acid product.

Proactive caught up with Orior Capital analyst Simon Francis in March 2019 to discuss his valuation range for company shares of $1.20 to $2.21.

Quick facts: American Pacific Borates Ltd

Price: 0.82 AUD

Market: ASX
Market Cap: $261.92 m

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American Pacific Borate & Lithium shares ‘incredibly cheap’, according to...

American Pacific Borate & Lithium Ltd (ASX:ABR) is developing the Fort Cady borate and lithium project in California, which has a 120.4-million-tonne deposit at 6.5% boron oxide.   Orior Capital analyst Simon Francis has completed a new report on ABR where he notes the...

on 28/3/19

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