Progressing well in terms of funding and project: Altura Mining’s stock surged up 7.5% on September 14, 2017 while Canaccord Genuity has published an updated research report on the group at the back of positive developments. Altura has completed US$110 million Senior Secured Debt Facility and the conditions precedent required for the drawdown of the proceeds from Tranche 2 of the facility have now been met. Altura has therefore sent the Utilisation Request notification to the loan note holders for the Tranche 2 proceeds (US$77 Million), and the funds are scheduled to be received by Altura soon. The first Lithium Ore was mined at Pilgangoora Lithium Project from the pit in late August and has been stockpiled ready for processing. During August, over 180,000 banks cubic metres (BCM) of waste material was mined from the pit and used to construct site infrastructure including the Tailings Storage Facility (TSF).
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