Altura Mining Limited: Assignment of a first-time issuer rating
High grade lithium concentrate & long mine life, but small operations with limited track record, single commodity concentration, expansion execution risks & expected negative free cash flowsAltura Mining is engaged in the exploration and development activities, including completion of its 100% owned Pilgangoora Lithium Project in the Pilbara region of Western Australia. Co. also has interests in the producing Delta Coal project in Indonesia, and the Tabalong Coal project. As of June 30 2016, Co.'s assets comprised of: The Delta coal mine in East Kalimantan, where Co. held 331/3% interest; and The Tabalong coal project in South Kalimantan in which Co. held 70% interest in three Mining Permits (SPK, SCC and SP); and 56% interest in two Mining Licences (KM and MBM).
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