Australian Bauxite Ltd: Half Yearly Report and Accounts
Sydney, Australia - Australian Bauxite Ltd. (ASX:ABX) provide the Half Yearly Report and Accounts, for the period ending June 30, 2019.Corporate
- In May 2019, at Australian Bauxite Ltd.'s (ABx) Annual General Meeting, all resolutions put to the meeting, were passed on a show of hands
- Group cash balance was $1.3 million at 30 June 2019 andi currently about $0.93 million with more than $0.5 million to be received in Q4 2019 in R&D rebate for research done in 2018
- Number of shareholders is approximately 2,100
Activities during the half-year
1. Sale of 32,477 tonnes of cement grade bauxite was loaded and shipped from Bell Bay in early June 2019, having been produced and delivered to port 3 weeks ahead of schedule
2. Sales of fertiliser-grade bauxite continue as superphosphate fertiliser made by acid-processing of ABx bauxite is gaining strong sales. Reinstating of soil at Bald Hill mine has also preserved and secured stockpiles of fine-grained bauxite that is ideal for ALCORE's bauxite refining project
3. ABx's subsidiary, ALCORE Limited commenced trial bauxite refining experiments at the ALCORE Research Centre to produce aluminium fluoride which is used to make aluminium smelters more efficient and in lithium ion batteries. ALCORE has discovered a powerful new reagent mixture to refine ores into valuable fluoride compounds and co-products
4. Bulk sampling at the Binjour Bauxite project in Queensland confirmed drillhole grades. Upgrading tests were successful
5. Assessment and development of the Penrose bauxite deposit, 90km inland from Port Kembla has received positive results from tests done by several large companies
To view the full report, please visit:
https://abnnewswire.net/lnk/E48CTD0B
About Australian Bauxite Ltd:
Australian Bauxite Ltd. (ABx) (ASX:ABX) has its first bauxite mine in Tasmania and holds the core of the Eastern Australian Bauxite Province. ABx's 22 bauxite tenements in Queensland, New South Wales & Tasmania exceed 1,975 km2 and were selected for (1) good quality bauxite; (2) near infrastructure connected to export ports; & (3) free of socio-environmental constraints. All tenements are 100% owned, unencumbered & free of third-party royalties. ABx's discovery rate is increasing as knowledge, technology & expertise grows.
The Company's bauxite is high quality gibbsite trihydrate (THA) bauxite that can be processed into alumina at low temperature.
ABx has declared large Mineral Resources at Inverell & Guyra in northern NSW, Taralga in southern NSW, Binjour in central QLD & in Tasmania, confirming that ABx has discovered significant bauxite deposits including some of outstandingly high quality.
At Bald Hill near Campbell Town, Tasmania, the Company's first bauxite mine commenced operations in December 2014 – the first new Australian bauxite mine for more than 35 years. ABx has created significant bauxite developments in 3 states - Queensland, New South Wales and Tasmania. Its bauxite deposits are favourably located for direct shipping of bauxite to both local and export customers.
ABx endorses best practices on agricultural land, strives to leave land and environment better than we find it. We only operate where welcomed.
Source:
Australian Bauxite Ltd.
Contact:
Ian Levy CEO and MD Australian Bauxite Ltd. Telephone: +61-2-9251-7177 Mobile: +61-407-189-122
