Proactiveinvestors USA & Canada American Pacific Borate & Lithium Ltd https://www.proactiveinvestors.com Proactiveinvestors USA & Canada American Pacific Borate & Lithium Ltd RSS feed en Wed, 19 Jun 2019 02:08:21 -0400 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - American Pacific Borate & Lithium raises A$3.1 million for borate project engineering ]]> https://www.proactiveinvestors.com/companies/news/219518/american-pacific-borate--lithium-raises-a31-million-for-borate-project-engineering-219518.html American Pacific Borate & Lithium Ltd (ASX:ABR) has raised A$3.1 million in a placement to institutional and sophisticated investors with funds to progress construction-related engineering activities at Fort Cady Borate Project in California.

The placement at 18 cents per share includes one listed option for every two ordinary shares with a strike price of 25 cents, which expires on August 10, 2020.

These options are designed to provide working capital during the construction work.

ABR expects to begin the construction-related engineering activities with its preferred contractor this month.

READ: American Pacific Borate & Lithium optimisation work delivers high-purity boric acid

The placement was completed at an 11.3% discount to the 10-day VWAP of 0.3 cents with 15.27 million shares and 7.63 million placement options to be issued.

Management is seeking to contribute A$350,000 of the $3.1 million on the same terms and subject to stakeholder approval at a general meeting, which will take place soon.

The company continues to target the beginning of construction in quarter four of 2019 on a fully permitted basis, subject to financing.

Sydney-based Peloton Capital was sole lead manager for the placement.

Earlier this month the company delivered a high-purity plus 99.9% pure boric acid crystal with minimal impurities from process optimisation works at the Fort Cady Borate Project in California, USA.

The works, which were on April 10, 2019, were designed to ensure consistent delivery of a technical grade quality boric acid crystal from the project.

ABR chief executive officer Michael Schlumpberger said this was another hurdle for the company to begin production of borates from the project and ultimately become a globally significant producer in high purity borate products.

“Our focus now turns to the completion of detailed engineering and securing the modest financing for the low capital starter project.”

]]>
Thu, 02 May 2019 10:50:00 -0400 https://www.proactiveinvestors.com/companies/news/219518/american-pacific-borate--lithium-raises-a31-million-for-borate-project-engineering-219518.html
<![CDATA[News - American Pacific Borate & Lithium optimisation work delivers high-purity boric acid ]]> https://www.proactiveinvestors.com/companies/news/218457/american-pacific-borate--lithium-optimisation-work-delivers-high-purity-boric-acid-218457.html American Pacific Borate & Lithium Ltd (ASX:ABR) has delivered a high-purity plus 99.9% pure boric acid crystal with minimal impurities from process optimisation works at the Fort Cady Borate Project in California, USA.

The works, which were on April 10, 2019, were designed to ensure consistent delivery of a technical grade quality boric acid crystal from the project.

Shares on the ASX are up 12.5% to an intra-day high of 22.5 cents.

 Location of Fort Cady and Salt Wells projects in the USA

 

ABR chief executive officer Michael Schlumpberger said: “This is another hurdle in our aspiration to commence production of borates from our flagship Fort Cady Borate Project and ultimately to become a globally significant producer of high purity borate products.

“Our focus now turns to the completion of detailed engineering and securing the modest financing for the low capital starter project.

“Importantly, we have delivered a very low capital starter project with brilliant financial metrics that sees us on the pathway to becoming a globally significant producer of borates targeting an EBITDA of over US$340 million per annum.

“When you consider borates are a vital input into new world technologies including electric vehicles, clean energy and food security related micro-nutrients for optimal plant growth, we are sure the demand for borates will only continue to grow.”

 

Fort Cady boric acid assay results

ABR is focused on completing process optimisation works to ensure it can consistently deliver a technical grade premium boric acid product.

The results of these works have been very encouraging with a final process now designed to ensure that a high-grade product with minimal impurities will be delivered.

Optimisation works include:

Treating liquor (pregnant leach solution or PLS) retrieved on site from the Fort Cady ore body by solvent extraction using isoctanol as the organic extractant; Further treating the resulting liquor in a scrubbing stage to purify the liquor; and Crystallising the final liquor via a crystalliser manufacturer where the liquor was sent for evaluation and testing of the crystallisation steps of the process. ]]>
Fri, 12 Apr 2019 11:48:00 -0400 https://www.proactiveinvestors.com/companies/news/218457/american-pacific-borate--lithium-optimisation-work-delivers-high-purity-boric-acid-218457.html
<![CDATA[Media files - American Pacific Borate & Lithium MD discusses enhanced DFS metrics ]]> https://www.proactiveinvestors.com/companies/stocktube/12155/american-pacific-borate--lithium-md-discusses-enhanced-dfs-metrics-12155.html Mon, 11 Feb 2019 11:41:00 -0500 https://www.proactiveinvestors.com/companies/stocktube/12155/american-pacific-borate--lithium-md-discusses-enhanced-dfs-metrics-12155.html <![CDATA[News - American Pacific Borate & Lithium delivers low-capex boric acid and SOP starter project for Fort Cady ]]> https://www.proactiveinvestors.com/companies/news/213659/american-pacific-borate--lithium-delivers-low-capex-boric-acid-and-sop-starter-project-for-fort-cady-213659.html American Pacific Borate & Lithium Ltd (ASX:ABR) has enhanced the definitive feasibility study (DFS) released on December 17 for its Fort Cady Borate Project with a low capital expenditure starter project.

The cost-saving development measure was achieved by splitting phase one into two components, which delivers a pathway to production but substantially lowers targeted financing.

All other areas of the DFS remain consistent including the mining and processing of boric acid and the life-of-mine.

The company plans to advance financing discussions and start detailed engineering, with phase-one construction targeted to begin in quarter four 2019.

 

ABR chief executive officer Michael Schlumpberger said the company was delighted with the DFS enhancements, including the standalone low-capex project.

The first phase in the starter project, phase one-A, will target the production of 40,000 tonnes of sulphate of potash (SOP) and 6,000 tonnes of boric acid.

Phase one-B will increase boric acid production to 90,000 tonnes a year while using knowledge obtained through the smaller-scale phase one-A operation to optimise production.

Fort Cady is rare and large colemanite deposit and is the largest known contained borate occurrence in the world not owned by the two major borate producers Rio Tinto and Eti Maden.

The JORC-compliant resource at Fort Cady comprises 13.93 million tonnes of boric acid.

READ: American Pacific Borate & Lithium prepares for site visit from Fortune 500 company

Splitting the first phase has delivered exceptional financial metrics including a capex of US$36.8 million inclusive of a 13% contingency, reduced from the initial estimate of US$138 million.

Unlevered post-tax net present value with a 10% discount is $315 million and the internal rate of return is 58.3%.

With the decrease in pre-production capex of about 75%, the starter project will be financeable on a standalone basis.

Total capex for the project has increased by 7% but ABR expects the financing and technical benefits delivered will far outweigh the additional cost.

Summary of Fort Cady production by phase

  READ: American Pacific Borate & Lithium highlights strong financials of ‘low-risk’ US project

Schlumpberger continued: “We now have pre-production capex of only US$36.8 million and a pathway to phase three that has an annual EBITDA in the first full year of production of more than US$340 million.

“We have made the Fort Cady Project easier to finance, while limiting likely share dilution and preserving a massive EBITDA target in full production.

“Our ability to include such a low-capex starter project emphasises how unique the Fort Cady project is in the world of mining.”

READ: American Pacific Borate & Lithium’s DFS values Fort Cady Borate Project at $1.7 billion

The enhanced DFS estimates total cash costs of production, including by-product credits, as less than US$100 a tonne.

SOP prices in the high-priced Californian market are estimated to be over US$700 a tonne.

The production and sale of the 40,000 tonnes of SOP is unlikely to result in a reduction of selling price as the US is currently a new importer of SOP.

Route from Fort Cady to the port of Los Angeles

]]>
Wed, 30 Jan 2019 20:09:00 -0500 https://www.proactiveinvestors.com/companies/news/213659/american-pacific-borate--lithium-delivers-low-capex-boric-acid-and-sop-starter-project-for-fort-cady-213659.html
<![CDATA[Media files - American Pacific Borate & Lithium working to be 'globally significant borate producer' ]]> https://www.proactiveinvestors.com/companies/stocktube/11645/american-pacific-borate--lithium-working-to-be--globally-significant-borate-producer--11645.html Wed, 19 Dec 2018 09:00:00 -0500 https://www.proactiveinvestors.com/companies/stocktube/11645/american-pacific-borate--lithium-working-to-be--globally-significant-borate-producer--11645.html