News and Announcements
Altech Chemicals Ltd Receives Speculative Buy from Perth Broker
- Published August 26, 2016 10:49AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
25th August 2016, Proactive Investors
Altech Chemicals Ltd (ASX:ATC) has received a Speculative Buy from Perth-based stockbroking firm DJ Carmichael.
The broker applied a valuation of $0.355 from $0.41 per share. The following is an extract from the report.
ECA financing steps in final throws
ATC are making good progress on their project funding application to the Federal Republic of Germany’s Export Credit Agency (ECA).
ATC are now at stage 7 of a 9 stage process that, if successful, will result in the majority of the project debt being provided at an extremely low interest rate.
In addition, ATC is seeking to increase the percentage of total project debt to be covered under export credit, thereby decreasing the repayments and increasing yearly project cash flows.
The recent successful $10m capital raise should see ATC funded through to first drawdown of the project funding Q1 CY17.
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