Montreal Gazette reported that Montreal based Orbite Aluminae Inc developing an alumina project in Quebec’s Gaspe region is filing a short form prospectus with provincial regulators to provide future financial flexibility in funding its diverse projects over the next 25 months. It plans to raise about USD 300 million.

Mr Richard Boudreault CEO of Orbite Aluminae said that “We’re a development stage company with multiple projects with different capital needs over the next two years. We’re assessing all financing options including JV partnerships, project debt and new equity all designed to maximize shareholder value.”

Orbite’s pilot plant at Cap Chat is nearing commercial production of super high grade alumina. The feasibility study for production of lower grade alumina for the aluminum smelting industry is due for completion shortly.