(MENAFN- ABN Newswire) Perth, July 18, 2016 AEST (ABN Newswire) - Altura Mining Limited (ASX:AJM) (OTCMKTS:ALTAF) ("Altura" or the "Company") is pleased to advise that it has completed its Share Purchase Plan (SPP) capital raising announced on 9 June 2016.
The SPP was offered following the completion of a successful $20 million Placement as a means to offer existing shareholders the opportunity to acquire shares at the same price as the Placement. Altura has received funds from the SPP totalling $774,000 which was less than the maximum amount of $3 million offered.
Altura emphasises that the outcome of the SPP will have no bearing on the conducting of its current activities on the PIlgangoora Lithium project comprising:
- The completion of the Definitive Feasibility Study;
- Additional exploration of its Pilgangoora tenements; and
- Payments due on long lead items and deposits on plant.
Altura further notes that its Listed Options which expired on 30 June 2016 had a take-up rate of 99.9% and had provided additional proceeds for the Company of just over $4 million.
About Altura Mining Ltd
Altura Mining Limited (ASX:AJM) is building a leading position in the independent supply of lithium raw materials, with a world class lithium project at Pilgangoora ready to set the platform and be the first new hard rock lithium product supplier in 2017. The Altura team has a track record of delivering mining projects with Pilgangoora the most advanced stage, near term producing lithium project; solid offtake partners and a market providing substantial growth opportunities to ensure positive shareholder returns.
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