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PEAK MINERALS LIMITED - Corporate Spotlight

Pure Alumina is focused on becoming the premier supplier of High Purity Alumina through... Pure Alumina is focused on becoming the premier supplier of High Purity Alumina through the strengths of our relationships and the quality of our product.More

Corporate Spotlight

Pure Alumina is focused on becoming the premier supplier of High Purity Alumina through the strengths of our relationships and the quality of our product.
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Investor Updates with Pure Alumina - June

VIDEO

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Investor Updates with David Leavy, MD Pure Alumina - June 2020


INVESTOR PRESENTATION

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QUARTERLY

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Pure Alumina makes progress on acquisition of Polar Sapphire to facilitate becoming a producer of premium quality low cost high purity alumina

ASX Announcement 30 July 2019 


Quarterly Highlights 

  • Pure Alumina is currently undertaking a $30m capital raise to fund the Polar acquisition and to build a 1,000tpa HPA plant. 
  • A global investor roadshow is at an advanced stage with site visits to Polar’s HPA pilot plant, investor due diligence and follow up meetings currently occurring. 
  • Due diligence for the Polar transaction is essentially complete. 
  • The timeline to complete the Polar transaction has been extended to 30 September 2019 with Pure Alumina no longer retaining exclusive rights to the acquisition of Polar Sapphire. 
  • Discussions are underway with the preferred bidder for the Hill End gold project to secure a binding purchase agreement. 
  • Pure Alumina successfully completed a share purchase plan and top up placement raising $1.75 million


During the June quarter Pure Alumina focussed efforts on satisfying the conditions necessary to acquire Polar Sapphire Limited (Polar) from private equity interests for C$25.75m in Pure Alumina shares and cash as outlined in the ASX announcement of 21 March 2019.


Polar has perfected its proprietary technology to produce premium 99.999% (5N) high purity alumina (HPA) at its Toronto pilot plant and is seeking capital to commercialise its process. Acquiring Polar and raising the necessary capital will enable Pure Alumina to fast track its plans to construct a 1,000 tpa plant to produce HPA within 12 months at a competitively low capital cost. Assuming completion of the acquisition, Pure Alumina aims to rapidly expand HPA production to 5,000tpa within three years to capture exceptional growth in HPA demand for use in LED lighting, coatings on lithium battery separators for electric vehicles and other uses.


Due diligence for the transaction is essentially complete. Pure Alumina has completed its due diligence of Polar and identified no material legal, financial, commercial or technical issues. Polar has similarly undertaken due diligence of Pure Alumina and has not informed the Company of any substantive issues. 


The $30m capital raise was the major activity during the quarter. After agreeing mandates with Patersons and Fraser McKenzie Merchant Capital, a global roadshow to brief investors in Europe, North America and Australia was undertaken. There was strong interest and positive feedback. Currently, follow up meetings, site visits by investors to Polar’s HPA pilot plant and investor due diligence is underway. The capital raise has been extended to capture those who were absent during the holiday periods in the northern hemisphere and Australia.


Pure Alumina is preparing a notice of meeting and independent expert report on the transaction to enable shareholders to consider and vote on the transaction once the capital raise and other conditions precedent are satisfied. The notice of meeting will be sent to shareholders once finalised and approved by the ASX.


Pure Alumina and Polar agreed to extend their acquisition agreement to 30 September 2019 to allow sufficient time to complete the transaction. However, PUA no longer has exclusivity for the acquisition of Polar (see ASX Release of 24 July 2019).


On 23 April 2019, Pure Alumina announced a Share Purchase Plan (SPP) and optional top up placement to raise up to $1.75 million. As announced on 30 May and 12 June 2019 the SPP and top up placement successfully raised $1,753,180 at the price of $0.0346 per share which was determined by applying a 20% discount to the volume-weighted average price (VWAP) of fully paid ordinary shares in the capital of the Company over the five trading days, on which the shares traded, prior to 29 May 2019.


Pure Alumina appreciates the support of its shareholders in delivering the successful SPP and top up placement


Click here to view the full announcement

STRONG SALES

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Pure Alumina target, Polar Sapphire, receives strong sales demand from outstanding HPA test results

ASX Announcement 11 April 2019 


Numerous sales orders received for 5N HPA produced by Polar Sapphire 


Pure Alumina Limited (ASX: PUA) is pleased to announce that Polar Sapphire, the Canadian company which is currently being acquired by Pure Alumina (see ASX release dated March 21, 2019), has received a number of orders for its top-quality 5N high purity alumina (HPA). 


The sales orders were received from a number of global sapphire producers as part of the final stage of qualifying Polar’s product or from Polar’s existing, qualified customers.


The customers represent a range of end-users, including LED lighting and optical lense manufacturers, all of which value the high purity and physical properties offered by Polar’s 5N HPA.


One customer which is in the final stages of qualifying Polar's HPA product has sent for testing a sapphire boule grown with Polar’s 5N HPA.


The test, undertaken by EAG Laboratories (shown in the attached appendix) show an extremely high-purity (6N) sapphire was achieved. The 6N sapphire will allow the customer to produce a higher-yielding boule than would be possible if it used alternative sources of HPA.


The continued demand and ongoing positive results from customers’ qualification processes provide a very high degree of confidence that production from Polar Sapphire’s planned commercial HPA plant will be in high demand.


Pure Alumina continues to see strong growth in the sapphire market from LED’s and semiconductor wafers to optical markets and also in battery separator markets. 


Upon successful completion of the Polar Sapphire acquisition, the planned construction of the commercial-scale production facility will see Pure Alumina become an HPA producer within 12 months capable of supplying the portfolio of customers which will have already qualified its HPA.


This will leave Pure Alumina well-positioned to supply the growing HPA market, with an initial target of 5,000tpa of production capacity and the ability to expand very quickly to meet future increases in demand.


Click here to view the full announcement 

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