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| Lithium Production Up 68% |
SINGAPORE, Apr 8, 2019 - (ACN Newswire) - Alliance Mineral Assets Limited (ASX: A40; SGX: 40F) (Company) is pleased to announce record lithium production at its Bald Hill Lithium & Tantalum Mine in Western Australia (Mine) for the quarter ended 31 March 2019 (March Quarter).
The March Quarter also delivered a record shipping period for the Company:
* A total of 38,291 wmt of high grade spodumene concentrate produced for the March Quarter grading 6.1% Li2O. A 68% increase from the December 2018 quarter production of 22,724 wmt.
* Record monthly production in March 2019 of 15,012 wmt with a recovery of 70% of gross feed and 79% of net feed (after removal of unprocessed fines).
* A total of 44,305 dmt of concentrate was shipped during the March Quarter representing an almost 100% increase on the December 2018 quarter. The shipments comprised regular sales to Jiangxi Bao Jiang Lithium Industrial Limited and a trial parcel to a new customer.
* March Quarter tantalum pentoxide production of 34,380Lbs was in line with the December 2018 quarter production of 32,700Lbs. Three shipments totalling 38,935Lbs of contained tantalum pentoxide were made during the March Quarter.
* Bald Hill produces a premium coarse concentrate with very low levels of Fe, K, mica, moisture and less than 2% ultra-fines (less than 500 microns).
* 14 March 2019 marked the first anniversary of lithium production at the Mine.
Commenting on the March Quarter, Managing Director Mark Calderwood said: "It has been an excellent quarter as the Mine continues to ramp up concentrate production through increased throughput, improved grades and recovery. We are well on track to meet our guidance for the first half of 2019 of 65,000 wmt to 80,000 wmt of lithium concentrate produced. Bald Hill's coarse spodumene concentrate is being recognised by the industry as a premium product due to its coarse size, low fines and very low level of Fe and other deleterious elements. The Company expects to select its preferred customers for the remaining off-take over the next few months."
Mark Calderwood
Managing Director
Forward Looking Statements
This announcement may contain forward looking statements and projections including regarding estimated resources and reserves, production and operating costs profiles, capital requirements and strategies and corporate objectives. Such forward looking statements/projections are estimates for discussion purposes only and should not be relied upon as representation or warranty, express or implied, of the Company. They are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors many of which are beyond the control of the Company. The forward looking statements/projections are inherently uncertain and may therefore differ materially from results ultimately achieved. While the information contained in this announcement has been prepared in good faith, neither the Company, nor any of its directors, officers, agents, employees or advisors make any representation or give any warranty, express or implied, as to the fairness, accuracy, completeness or correctness of the information, forward looking statement, opinions and conclusions contained in this announcement. Accordingly, to the maximum extent permitted by law, none of the Company, nor any of its directors, officers, employees, agents or advisers, nor any other person accepts any liability whether direct or indirect, express or limited, contractual, tortious, statutory or otherwise, in respect of the accuracy or completeness of the information or for any of the opinions contained in this presentation or for any errors, omissions or misstatements or for any loss, howsoever arising, from the use of this presentation. The Company disclaims any obligation to update or revise any forward looking statements based on new information, future events or otherwise except to the extent required by applicable laws.
Glossary
The following abbreviations are used in this announcement.
dmt: dry metric tonnes
Lbs: pounds
Li2O: Lithium oxide
wmt: wet metric tonnes
Topic: Press release summary
Source: Alliance Mineral Assets Ltd
Sectors: Metals & Mining
https://www.acnnewswire.com
From the Asia Corporate News Network
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