Sept 2013 Quarterly Activities and Cashflow Report
Perth, Oct 25, 2013 AEST (ABN Newswire) - Bauxite Resources Limited (
ASX:BAU) ("BRL" or the "Company") continues to focus primarily on the exploration and evaluation of bauxite prospectivity in BRL's extensive tenement holding in Western Australia's Darling Range, the largest bauxite and alumina producing region in the world. Currently the Company holds ~17,710 km2 (9,595 km2 granted).
Highlights:
- Bauxite resources of Bauxite Resources Limited ("BRL") and its joint ventures partners totals 256.4Mt - resources are near surface, situated close to existing road, rail and port infrastructure.
- BRL's 100% Fortuna bauxite deposit upgraded to 39.5Mt @ 37.3% Total Al2O3 (28.8 % available @ 148degC), 5.2% SiO2 (1.6% reactive @148degC) (all grades are unbeneficiated).
- BRL enters development evaluation phase for supply into the international bauxite market of its 100% owned bauxite resources.
- Robert Nash named new Chairman of BRL following retirement of Barry Carbon AM.
- New Yankuang Chairman visits Felicitas deposit.
- Yankuang Resources and HD Mining nominate Australian based executives to be appointed as BRL board members.
- Share buyback program continued with 1.8 million shares purchased. Currently suspended (see below).
- Cash at bank A$43.7 million and no debt.
Fortuna - 100% BRL
During the quarter, the Company announced an increase to its Fortuna Deposit (100% BRL) to 39.5 million tonnes and the commencement of development evaluation for the project.
The resource defined to date on this tenement has attributes similar to other Darling Range bauxites which supply the existing refineries in Western Australia.
The BRL Fortuna bauxite project area is:
- situated on a small number of private landholdings;
- located approximately 60km north east of Perth, being 10km from the town of Wundowie;
- approximately 12km to the south of existing infrastructure providing a link to Kwinana port approximately 120km away.
The Company is pleased with the increase of the resource, first reported in the June 2013 quarter, further exploration is planned during the coming six months following the company finalising additional land access agreements on the deposit.
To view the quarterly report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-BAU-654176.pdf
About Bauxite Resources Limited
Bauxite Resources (ASX:BAU) (OTCMKTS:BXRDF) was established with a substantial tenement holding in Western Australia to develop new bauxite supply for the global alumina/aluminium industry. The Company listed on the Australian Securities Exchange (ASX) in October 2007.
The Darling Range in the south-west of Western Australia (WA) is the world's largest bauxite mining and alumina refining region producing around 20% of the world's alumina. This area has mined bauxite and refined alumina since the 1960s. These industries are leaders in sustainable resource development and represent the fifth largest sector of WA's resource industry.
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