Altura Mining Ltd.

AJM mobilising to site

On-site construction to start mid-March

AJM on-track for first for product early in 2018 � Prices still high

AJM has cash and revenue, but debt still to be finalised

Beer & Co affirms Strong BUY, High Risk recommendation

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On 27 February, AJM announced that it had received the final approval from DMP to commence operations on site.

AJM announced that it is mobilising to site and that earthworks will begin in mid-March, after

Mobilisation of site offices; Installation of bore infrastructure; and
Site survey and set out.

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From mid-March to mid-April, on site earthworks will include :

Clearing and stockpiling top-soil
Start bulk earthworks, pre-strip for mining and establishing tailings dams
Complete base pad for process plant.

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AJM has ordered long lead time items and will be able to install them on site from late May, to ensure first product in early 2018.

While Beer & Co expects prices for spodumene concentrate to fall over time, we expect AJM, as the next Australian producer, to receive strong cashflows early in the project life.

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AJM has over $40m in cash due to its equity placement to off-take partner, J&R Shaanxi.

AJM is receiving revenue from AGO due to the high iron price; AJM receives 1% of revenue above $A 95/t from the 30% interest it previously held.

Beer & Co is confident will have the required debt in place before the plant is to be shipped to site, when the major payments are to be made.

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AJM affirms Beer & Co.�s confidence in progress to first product.

Beer & Co affirms our 31c valuation and Strong BUY recommendation.

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Beer&Co.
ACN 158 837 186
Authorised representative Melbourne Venture Securities Pty Ltd
www.beerandco.com.au

Author:
Pieter Bruinstroop
pbruinstroop@beerandco.com.au

Copyright 2015 beerandco.com.au, All rights reserved.
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	EXPLORATION STAGE
	CODE : AJM.AX
	ISIN : AU000000HDN5

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Altura is a gold and iron development stage company based in Australia.

Altura produces gold, iron, tantalum in Australia, develops lithium in Australia, and holds various exploration projects in Australia, in Canada and in Indonesia.

Its main asset in production is BALD HILL in Australia, its main asset in development is PILGANGOORA in Australia and its main exploration properties are SHOOBRIDGE, BALLINE and YALLABURRA in Australia and TABALONG COAL PROJECT in Indonesia.

Altura is listed in Australia. Its market capitalisation is AU$ 33.9 millions as of today (US$ 24.5 millions, € 21.4 millions).

Its stock quote reached its lowest recent point on May 01, 2015 at AU$ 0.01, and its highest recent level on January 05, 2018 at AU$ 0.51.

Altura has 1 541 280 000 shares outstanding.

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	Mine development
	Discovery
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