Altona Mining Limited

FIRB genehmigt Cloncurry-Projekttransaktion - Seite 3

 

The Project will be 100% owned by an incorporated joint venture company; Roseby Copper Pty Ltd (“Roseby Copper”). On closing of the transaction, CSII will make a cash contribution of US$213.53 million to purchase shares in Roseby Copper and will own 66%. Roseby Copper is currently a 100% owned subsidiary of Altona, Altona will contribute US$25 million and will retain 34% ownership.  Altona’s cash contribution may be reduced by up to US$3.1 million of its agreed expenditure on the Project since June 2015.

 

Roseby Copper will have approximately US$235.5 million in cash at closing. The cash exceeds the capital cost estimate of A$294 million (including an A$18 million contingency). 

 

About Altona

 

Altona Mining Limited is an ASX listed company focussed on the Cloncurry Project in Queensland, Australia.  The Project has Mineral Resources containing some 1.67 million tonnes of copper and 0.43 million ounces of gold. It is envisaged that a 7 million tonnes per annum open pit copper-gold mine and concentrator will be developed at the Project. The development is permitted with proposed annual production(1) of 38,800 tonnes of copper and 17,200 ounces of gold for a minimum of 13 years. A Definitive Feasibility Study was published in March 2014.  Altona has completed a Framework Agreement with Sichuan Railway Investment Group to fully fund and develop the Project through its Hong Kong subsidiary, China Sichuan International Investment Limited. The transaction is scheduled to close prior to 31 July 2017.

 

1Refer to the ASX release ‘Cost Review Delivers Major Upgrade to Little Eva’ dated 13 March 2014 which outlines information in relation to this production target and forecast financial information derived from this production target.  The release is available to be viewed at www.altonamining.com or www.asx.com.au.  The Company confirms that all the material assumptions underpinning the production target and the forecast financial information derived from the production target referred to in the above-mentioned release continue to apply and have not materially changed.

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Englische Originalmeldung
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Übersetzung

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