Sydney, Australia, July 30, 2015 - (ABN Newswire) - Valence Industries Ltd (ASX:VXL) (OTCMKTS:VLQCF) is Australia's only graphite company. Valence Industries will mine, process and sell flake graphite products from its Uley GraphiteTM facilities near Port Lincoln, South Australia for supply to global customers with an expansion program and focus on advanced high-margin product development.
Quarter Highlights
* The Phase I Plant resumed operations and is targeting nameplate feed-rate of 20 tph in September 2015.
* New US$50m three year Sales Contract signed at prices exceeding US$1,335 per tonne.
* Signing of major UK based Sales Agency underpinning strong demand in Europe.
* Significant increases in Ore Reserve for Uley Pit 2 extending current life of mine by more than 60%.
* Production growth strategy revised, with increased focus on higher value Advance Graphite products from 5% to 40% of total volumes.
* Increase in NPV by 38% to $90m for Uley GraphiteTM expansion.
* Finance facilities secured to support Valence Industries' current operations and growth strategy with first draw-down made after the quarter.
* Cash at end of reporting period at A$1.6 million
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http://media.abnnewswire.net/media/en/docs/ASX-VXL-869696.pdf
About Valence Industries Ltd:
Valence Industries Limited (ASX:VXL) (OTCMKTS:VLQCF) is an industrial manufacturing company producing high grade flake graphite products for distribution and sale to global markets. Valence Industries owns established processing facilities and infrastructure to manufacture a wide range of graphite product lines for multiple applications and multiple industries. Valence Industries produces and sells its graphite products from its Uley Graphite facilities in regional South Australia for delivery to diversified markets for graphite in the Asia Pacific, Europe and North America.
Contact:
Valence Industries Ltd
Corporate Headquarters
Investor Relations
T: +61-8-8418-8564
E: info@valenceindustries.com
WWW: www.valenceindustries.com
Source:
Valence Industries Ltd
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