Altura Mining Limited (ASX:AJM) has announced a scoping study has confirmed that duplicating the size of its flagship Altura Lithium Project is the best expansion option.
As a result the company has approved the immediate start of a Definitive Feasibility Study, expected to be completed in April 2018.
After assessing options against net present value, anticipated time to market and minimizing disruption, doubling production was found to be the best option to maximize shareholder value/
First production from the duplicated plant is expected to be achieved within 17 months after an investment decision.
Shares in Altura Mining Limited (ASX:AJM) are trading 0.57 per cent higher at $0.44.