Altura Mining [ASX:AJM] (OTC:ALTAF)
On June 29, Altura Mining announced: "Sales and shipping update" Highlights include:
* “Record quarter for sales with shipments of 60,950 wet metric tonnes [WMT].
* Quarterly production on track to achieve approximately 45,000 wmt.
* Further shipment scheduled to commence loading in early July 2020.
* Continued supply to existing off-take partners"
On July 20, Altura Mining announced:
Altura Mining Limited notes the announcement by Civmec Limited on 17 July 2020 regarding a legal claim against Altura subsidiary Altura Lithium Operations Pty Ltd in relation to process plant construction and installation work at Altura’s Pilgangoora Lithium Project. Civmec was awarded the civil, construction, fabrication and commissioning work in 2017. The fabrication and construction works had a combined contract value of approximately $64 million. To date, Altura has paid Civmec $61.55 million for these works. As a result of the delay in reaching practical completion, Altura’s position is that liquidated damages of at least $2.35 million are payable by Civmec in accordance with the contract. Altura exercised its rights to offset the liquidated damages payable by Civmec against the certified outstanding amount payable and retention monies ($2.4 million in total) and has paid Civmec the balance including interest.
Altura Mining delivers a record quarter of sales
