Key figures for Q1 2020
(quarter-on-quarter percentage change)
Total lithium concentrate production:
- The company's lithium concentrates shipping schedule in February and March to Chinese customers was severely affected by Covid-19 restrictions.
- The company reported a single shipment of 22,564 tonnes during the quarter, compared with shipments totaling more than 40,000 tonnes during the December quarter.
- Two shipments of 11,836 tonnes and 10,248 tonnes were delayed to April and will be reported in the June quarter update.
- 10.4% drop in lithium concentrate quarterly production at the Pilgangoora project in Western Australian was mainly due to cyclone activity during the quarter as well as marginally lower recoveries.
- Altura achieved a lower unit operating cost during the reporting quarter. The company aims to achieve unit operative costs below $300 per tonne fob in the near term.
- Altura ended the period with cash and cash equivalents of $9.6 million.
- Due to uncertainty surrounding the global impact of Covid-19, the company has not issued sales and production guidance for the third quarter of 2020, although it anticipates them to be in line with previous quarters.
42,282 tonnes, down 10.4%
Unit operative cost:
$345 per tonne fob, down 2.5%