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American Pacific Borates completes name change as Fort Cady project advances

Snapshot

Since release of the Fort Cady DFS, process optimisation work has shown the project can deliver a technical-grade premium boric acid product.

American Pacific Borates Ltd - American Pacific Borates Ltd successfully changes name ahead of Fort Cady progress

Quick facts: American Pacific Borates Ltd

Price: 0.3 AUD

ASX:ABR
Market: ASX
Market Cap: $62.73 m
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American Pacific Borates Ltd (ASX:ABR) has changed its name from American Pacific Borate & Lithium following approval by shareholders at the Annual General Meeting on October 16.

The Western Australian and Californian company’s ASX code, registered office and contact details will remain unchanged.

Shares have been up almost 8% to an intra-day high of 29.5 cents after the Perth-registered company reached a new 12-month high of 40 cents in early September.

Fort Cady progress

Apple Valley-based ABR’s flagship Fort Cady Borate Project in southern California has recently achieved several milestones including the completion of basic engineering, electricity connected to site, receipt of air quality permits and the beginning of gas connection to site.

Basic engineering has delivered definitive layouts to enable the company to move into the final phase of engineering.

Managing director and CEO Michael Schlumpberger said: “We are focused on the ongoing completion of milestones that will enable us to commence construction of our flagship Fort Cady Borate Mine in the current calendar year.”

The project has been rated as the best development project globally in its rated peer group.

Earlier this year, a definitive feasibility study (DFS) valued the three-phase Fort Cady project at US$1.08 billion.

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