Altura Mining Ltd.

Published : December 24th, 2014

Atlas To Move To 100% Ownership Of Mt Webber

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Atlas To Move To 100% Ownership Of Mt Webber

ASX Announcement 24 December 2014

Atlas to move to 100% ownership of Mt Webber

Atlas Iron Limited (ASX:AGO) is pleased to advise it has reached agreement with its joint venture partner, Altura
Mining Limited (ASX:AJM), to purchase Altura's joint venture interest in the Mt Webber mine.
The Mt Webber project spans mining lease M45/1209 (Atlas 70%, Altura 30%), and the northern adjoining tenement M45/1197 (Atlas 100%), with Altura's share representing approximately 16% of the combined project.
The consideration payable is equivalent to the outstanding principal and interest under the loan from Atlas to Altura and other amounts due to Atlas. As a result of this transaction, Atlas will own 100% of the mine, having funded
100% of the development costs. The final calculation of the amount owing will be determined once the completion date is known, but is indicatively A$22 million. Completion of the transaction is subject to Altura shareholder approval.
In addition, Atlas has agreed to pay Altura a sales royalty of 1% of the FOB sales price on Altura's share of tonnes produced from the above mining licence and other jointly owned peripheral tenements when the 62% Fe price averages greater than A$95 in the month of delivery.
Atlas Managing Director, Ken Brinsden said "Our decision to purchase Altura's joint venture interest reflects our confidence in Mt Webber as a high quality, low cost asset, where Atlas is just finalising its expansion to 6MT pa. Atlas' significant infrastructure position and presence in iron ore markets means that it can bring the tonnes to market cheaper than Altura, who was paying Atlas a fee for those services. This makes Atlas the logical owner of the asset and we look forward to having the flexibility that full project ownership brings."
Mr Brinsden also acknowledged the contribution of Altura to the Mt Webber project "We have been working with
the Altura team for many years and they have been a reliable and supportive joint venture partner, we look forward to our continuing engagement on matters relating to Mt Webber."

Investor Enquiries:

Atlas Iron +61 8 6228 8000
Ken Brinsden, Managing Director
Mark Hancock, Chief Commercial Officer

Media Enquiries:

Read Corporate +61 8 9388 1474

Paul Armstrong +61 421 619 084

Atlas Iron Limited

ABN 63 110 396 168

Raine Square, Level 18

300 Murray Street Perth WA 6000

PO Box 7071

Cloisters Square Perth WA 6850

P: +61 8 6228 8000

F: +61 8 6228 8999

E: [email protected]

Read the rest of the article at

Altura Mining Ltd.

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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Corporate Presentations of Altura Mining Ltd.
7/25/2016Noosa Mining and Exploration Conference
Annual reports of Altura Mining Ltd.
Notice of AGM and Annual Report 2013
Notice of AGM & Annual Report 2012
Financings of Altura Mining Ltd.
11/8/2016(Pilgangoora)Pilgangoora Lithium-Strategic Partnership & $40M Placement
6/20/2016Capital Raising - Settlement of Placement
Nominations of Altura Mining Ltd.
12/18/2013s Announces Resignation of Roland Eschle as Director
Financials of Altura Mining Ltd.
7/29/2016Quarterly Activities Report June 2016
5/6/2016Quarterly Activities Report March 2016
4/29/2011March Activities & Cash Flow Reports
Project news of Altura Mining Ltd.
11/3/2016(Pilgangoora)Pilgangoora Lithium Project - Procurement Update
9/22/2016Pilgangoora Lithium Mineral Resource and Ore Reserve Update
4/22/2016(Pilgangoora)Pilgangoora Lithium - Acquisition of Additional Tenement and...
11/12/2013(Balline)Balline Garnet Project Update
9/19/2013Mt Webber DSO Project Update
7/24/2013Mt Webber Ore Reserve Update =E2?? 14% Increase
7/18/2013Noosa Mining & Exploration Conference Presentation
6/6/2013JORC Compliant Coal Reserve Estimate at Delta Coal
5/31/2013on Mt Webber Iron Ore Project
4/22/2013(Smithfield)Drilling Commences at Smithfield Lithium Project
10/3/201289% Increase in Mineral Resource Estimate
7/19/2012Noosa Mining and Exploration Conference
4/23/2012Acquisitions in South Kalimantan
3/27/2012(Tabalong Coal Project)Acquisition Expands Tabalong Coal Project
10/14/2011(Tabalong Coal Project)Approval - Tabalong Coal Project
8/19/2011Reserve Increase at Mt Webber JV
8/8/2011(Pilgangoora)Pilgangoora Maiden Resource
6/17/2011(Tabalong Coal Project)Further Drilling Planned for Tabalong Coal Project
5/11/2011(Pilgangoora)Exciting Results Pilgangoora Lithium Project
3/8/2011Drilling Commences at Mt Webber DSO Project
Corporate news of Altura Mining Ltd.
10/7/2016Research Report - Canaccord Genuity
8/5/2016Research Report - Beer & Co
6/9/2016Share Purchase Plan – Offer Document
5/24/2016Letter to option holders – advice of pending expiry
5/20/2016Appendix 3B
5/7/2016BCP Equities Research Report
5/7/2016Appendix 3B
5/7/2016Pilgangoora – Pastoral Lease Access Agreement Signed
5/3/2016Confirmation of Release – AJM – Quarterly Cashflow Report
2/1/2016Research Report – Beer & Co
1/28/2016Quarterly Activities Report – Dec Qtr 2015
1/28/2016Quarterly Cashflow Report – Dec Qtr 2015
1/28/2016Appendix 3B
12/17/2015Change of Directors’ Interest Notices
12/15/2015Change in Substantial Holding
12/14/2015Appendix 3B
11/2/2015Quarterly Cashflow Report – Sept Qtr 2015
10/28/2015Corporate Governance Statement
10/28/2015Appendix 4G
10/28/2015Appendix 3B
10/19/2015Notice of AGM 2015
9/9/2015Full Year Statutory Accounts
9/8/2015Full Year Results Guidance
9/1/2015Pilgangoora Lithium – Comminution Test Work Completion
8/11/2015Appendix 3B
8/5/2015Quarterly Activities Report – June Qtr 2015
8/5/2015Quarterly Cash Flow Report – Jun Qtr 2015
7/27/2015Appendix 3B
7/8/2015Investor Presentation July 2015
12/24/2014Atlas To Move To 100% Ownership Of Mt Webber
11/3/2014Quarterly Cash Flow Report – Sept Qtr 2014
11/3/2014Quarterly Activities Report – Sept Qtr 2014
11/3/2014Quarterly Cash Flow Report – Sept Qtr 2014
10/29/2014Annual Report 2014
3/28/2014Presentation to Hong Kong Mines and Money 2014
2/18/2014Morgans Research Report
1/31/2014Quarterly Activities Report - Dec Qtr 2013
11/19/2013AGM 2013 Managing Director's Presentation
11/1/2013Quarterly Activities Report - Sept Qtr 2013
10/17/2013BCP Equities Research Report Announcement
9/12/2013Full Year Statutory Accounts
7/29/2013Quarterly Activities Report June 2013
7/8/2013to become an Iron Ore Producer
4/30/2013Quarterly Activities Report March 2013
2/12/2013Coal Operating Contract in Philippines Awarded
2/1/2013Lithium Supply & Markets Conference Presentation
2/1/2013Quarterly Activities Report December 2012
10/31/2012Quarterly Activities Report Sept Qtr 2012
10/30/2012to acquite 15% of Lithium Corporation
9/12/2012Review of Operations & Annual Accounts
9/5/2012Presentation to Kalimantan Coal Forum
7/30/2012Quarterly Activities Report June Qtr 2012
7/4/2012BCP Equities Research Report
5/8/2012(Pilgangoora)Promising Drilling Results at Pilgangoora
5/1/2012Quarterly Activities Report Mar Qtr 2012
2/1/2012Quarterly Activities Report Dec Qtr 2011
10/31/2011Quarterly Cashflow Sept 2011
9/5/2011Strong Support for Altura Options
8/8/2011Company Update August 2011
8/3/2011(Pilgangoora)Further Drilling Results at Pilgangoora
8/2/2011Quarterly Activities Report June 2011
7/15/2011Presentation July 2011
6/16/2011(Pilgangoora)Pilgangoora Drilling Results
3/16/2011(Pilgangoora)Further Drilling Results at Pilgangoora Lithium Pr
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