ALTECH BATTERIES LIMITED 9 January, 2015
Addendum to 2014 Annual ReportAltech Chemicals Limited (Altech/the Company) (ASX: ATC) wishes to provide additional information to the
Company's 2014 Annual Report in accordance with Australian Securities Exchange (ASX) Listing Rule 5.21.
Annual Report - Page 12: Mineral Resource Statement and Mineral Resource Ore Reserve Estimation Governance StatementAltech Chemicals Limited ensures that its Mineral Resource and Ore Reserve estimates are subject to appropriate levels of governance and internal controls. Mineral Resource and Ore Reserve estimation procedures are well-established and are subject to periodic systematic peer and technical review by competent and qualified professionals.
Altech reviews and reports its Mineral Resource and Ore Reserve estimates at a minimum on an annual basis and in accordance with the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' (the JORC Code) 2012 Edition. The most recent annual review for the year ended 30 June 2014 has not identified any material issues.
The tables below set out the Mineral Resources and Ore Reserves comparatives as at 30 June 2014 and 30 June 2013.
1. Meckering Kaolin (Aluminous Clay) DepositMineral Resources (JORC 2004) as at 30 June 2014 | Mineral Resources (JORC 2004) as at 30 June 2013 | |||||
Classification | Tonnes | -45 micron (%)1 | Brightness2 | Tonnes | -45 micron (%)1 | Brightness2 |
Indicated | 16,770,000 | 42.3 | 83.2 | 16,770,000 | 42.3 | 83.2 |
Inferred | 48,280,000 | 41.8 | 83.5 | 48,280,000 | 41.8 | 83.5 |
Total Mineral Resources* | 65,000,000 | 41.9 | 83.4 | 65,000,000 | 41.9 | 83.4 |
* rounded to the nearest one hundred thousand tonnes
Notes: | 1. | The minus 45 micron percentage was measured by wet screening |
2. | Brightness is the ISO brightness of the minus 45 micron material |
Mineral Resources (JORC 2004) as at 30 June 2014 | Mineral Resources (JORC 2004) as at 30 June 2013 | |||||
Classification | Tonnes (millions) | Heavy Mineral (%) | Ilmenite (%) | Tonnes (Mt) | Heavy Mineral (%) | Ilmenite (%) |
Inferred (Rover Range) 1 | 701.1 | 3.75 | 2.61 | 701.1 | 3.75 | 2.61 |
Inferred (Miller's Mill) 2 | 105.9 | 3.66 | 2.82 | 105.9 | 3.66 | 2.82 |
Total Mineral Resources | 807 | 3.74 | 2.64 | 807 | 3.74 | 2.64 |
For more information, please contact:
Corporate
Iggy Tan
Managing Director
Altech Chemicals Limited
Tel: +61 8 9389 5557
Email: info@altechchemicals.com
Media Contact Tony Dawe Consultant
Professional Public Relations
Tel (office): +61 8 9388 0944
Email: tony.dawe@ppr.com.au
About Altech Chemicals (ASX: ATC)
Altech Chemicals Limited (Altech/the Company) is aiming to become one of the world's leading suppliers of 99.99% (4N) high purity alumina (HPA) (Al2O3). HPA is a high-value product because it is the major source material for scratch-resistant artificial sapphire glass. Sapphire glass is used to produce a range of high-performance electronic applications such as LEDs, semi-conductors, phosphor display screens, as well as new emerging products such as smartphones and tablet devices. The global HPA market is approximately 19,040tpa (2014) and is expected to at least double over the coming decade.
Current HPA producers use an expensive and highly processed feedstock material such as aluminium metal to produce HPA. Altech produces 4N HPA directly from an ore feedstock, aluminous clay, from its
Meckering deposit in Western Australia. The Company is now advancing a Bankable Feasibility Study (BFS) to develop a full-scale
4,000tpa HPA production facility. The Altech process employs conventional and proven "off-the-shelf" plant and technology to extract
HPA from its low-cost and low-impurity aluminous clay feedstock, which results in lower operating costs.
Altech is a chemical processing group focused on creating a high-margin product to meet the growing global demand for the next generation of high-performance technologies.
Forward-looking Statements
This announcement contains forward-looking statements which are identified by words such as 'anticipates', 'forecasts', 'may', 'will', 'could', 'believes',
'estimates', 'targets', 'expects', 'plan' or 'intends' and other similar words that involve risks and uncertainties. Indications of, and guidelines or outlook on, future earnings, distributions or financial position or performance and targets, estimates and assumptions in respect of production, prices, operating costs, results, capital expenditures, reserves and resources are also forward looking statements. These statements are based on an assessment of present
economic and operating conditions, and on a number of assumptions and estimates regarding future events and actions that, while considered reasonable as at the date of this announcement and are expected to take place, are inherently subject to significant technical, business, economic, competitive, political and social uncertainties and contingencies. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of our Company, the Directors and management. We cannot and do not give any assurance that the results, performance or achievements expressed or implied by the forward-looking statements contained in this announcement will actually occur and readers are cautioned not to place undue reliance on these forward-looking statements. These forward looking statements are subject to various risk factors that could cause actual events or results to differ materially from the events or results estimated, expressed or anticipated in these statements.
Competent Persons Statement - Meckering Kaolin Deposit
The information in this report that relates to Mineral Resources for the Company's Meckering Kaolin (Aluminous Clay) Deposit is based on information compiled by Ms Sue Border, who is a Fellow the AusIMM and of AIG and is a consultant to the Company. Ms Border has sufficient experience that is
relevant to the style of mineralisation and type of deposit under consideration and to the activity that she is undertaking to qualify as a Competent Person as defined in the 2004 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". The information contained in this report is extracted from the ASX announcement entitled "new exploration licence granted with JORC Kaolin Resource of 65Mt at AMMG's Meckering project" dated 13 January 2011 and is available to view on the Company web site www.altechchemicals.com. Ms Border has reviewed this statement and can confirm the resource figures are current, and approves the inclusion in this 2014 annual report addendum in the form and context in which they appear.
Competent Persons Statement - South West Titanium Project
The information in this report that relates to Mineral Resources for the Company's South West Titanium Project is based on information compiled by Mr Michael O'Mara, B.Sc Geology who is a member of the Australasian Institute of Geoscientists and is employed as the Company's Chief Geologist. Mr O'Mara has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity that he is undertaking to qualify as a Competent Person as defined in the 2004 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". The information contained in this report is extracted from the ASX announcement entitled "JORC inferred resource of 807 million tonnes at 3.7% heavy minerals at Glenarty Creek mineral sands project" dated 18 June 2013 and is available to view on the Company web site www.altechchemicals.com. Mr O'Mara has reviewed this statement and can confirm the resource figures are current and approves the inclusion in this
2014 annual report addendum in the form and context in which they appear.
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