Altech Chemicals (ASX:ATC) has reached agreement with Dana Shipping and Trading S.A. to extend the date by which Dana can elect to exercise its option to mine up to 10 million tonnes of bulk kaolin from the company’s Meckering kaolin deposit in Western Australia.
The option has been extended from 30 September 2015 to 15 October 2015.
Earlier in the year, Altech reached agreement with Dana to fund a Scoping Study to assess the commercial viability of mining and processing bulk kaolin from the Meckering Deposit.
Bulk kaolin is predominantly used in the ceramics, paper, rubber and paint industries.
The cost of the study was estimated at $100,000 and Dana has advised the company that the Scoping Study has now been completed.
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