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    Altech receives $815,000 from R&D advance loan facility

  • China Aluminium Network
  • Post Time: 2015/3/31
  • Click Amount: 366

    Altech Chemicals Limited is pleased to announce that it has entered into a short-term debt-based instrument that provides the Company with immediate funds equivalent to its forecast research and development (R&D) tax incentive offset (R&D Scheme) for the year ended 30 June 2015.

    The advance of $815,000 from Platinum Road was based on the estimated R&D Scheme (relating to the Company's completed and remaining eligible R&D activities) being received in October 2015.

    The upfront funds will allow Altech to accelerate its bankable feasibility study (BFS) and ongoing R&D activities for its proposed high purity alumina (HPA) processing operation.

    The Company reported a cash position of $1,174,000 as at 31 December 2014.

    Source: http://www.alcircle.com
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