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Altech sells Western Australian exploration license for A$2M

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Altech sells Western Australian exploration license for A$2M

said May 9 that itagreed to sell exploration license E70/3923 at Meckering, Western Australia, toDana Shipping and Trading SA for A$2.0 million.

The licenseis surplus to the company's feedstock requirements for its high purity alumina facilityin Malaysia. Altech continues to hold licenses E70/4708, E70/4716 and E70/4717ELat Meckering.

Dana has alreadypaid a nonrefundable deposit of A$250,000, and the remaining A$1.75 million willbe paid within five business days of the grant of mining lease M70/1334, accordingto the statement.

The agreementalso settles the disputebetween the parties over Altech's termination of the kaolin mining rights deed.