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Pure Minerals gains new substantial holder in managing director John Downie

Proactive Investors Friday, 14 February 2020 ()
Pure Minerals Ltd (ASX:PM1) has gained a new substantial holder in managing director John Downie. Downie now holds 40.78 million shares increasing his stake in the company to 6.83%.  High-purity alumina (HPA) scoping study adds value Pure recently received results for a scoping study evaluating the production of high-purity alumina (HPA) from its Townsville Energy Chemicals Hub (TECH) Project in Queensland. The scoping study assessed the production of 4N HPA on a standalone basis, using the aluminium hydroxide as a feedstock. This scoping study followed the December 2019 pre-feasibility study (PFS) on the TECH Project which identified the production of HPA as a key value-add opportunity for the project. A 25-year operation producing 4,007 tonnes per annum (tpa) of 4N HPA would have a net present valuation (NPV) of $849 million. The scoping study will be updated to PFS standard and combined with the December 2019 TECH PFS to present the financial metrics of the overall project when producing HPA instead of aluminium hydroxide.
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