Hill End changes name to Pure Alumina, officially ditches gold for HPA
Mining & Resources
One of the most highly valued substances among ASX investors... High Purity Alumina.
Explorer Hill End Gold is finally changing its name to reflect its focus on the burgeoning high purity alumina (HPA) sector.
Hill End is now Pure Alumina – the name of the company Hill End bought in July 2017. This deal included its now-flagship Yendon HPA project.
Pure Alumina is already knee deep in a Definitive Feasibility Study (DFS) on the 8000 tonnes per annum Yendon HPA project.
Miners undertake up to four different types of studies to determine whether or not a resource can be mined economically. These are scoping, preliminary feasibility (PFS), definitive feasibility (DFS) and bankable feasibility (BFS).
Pure Alumina’s ASX code will be changed from ‘HEG’ to ‘PUA’ on Monday.
The sale of the gold assets is well underway as they’ve received firm offers, the company told investors.
“PCF Capital is running the gold asset sale process and following strong participation in the data room review, a number of indicative offers were received,” it said.
“From this a short list of candidates was formed to undertake detailed due diligence. This process is almost finished.
“Final offers have been received and will be considered when the current phase closes.”
Hill End shares opened flat at 5.6c.