A significant milestone has now been reached in Australia that has a major positive impact on the potential business, cashflow and profitability for Queensland Bauxite Limited's (ASX:QBL) investment in Medical Cannabis Limited.
Australian Bauxite Ltd (ASX:ABX) Heads of Agreement for ALCORE Project to Produce Aluminium Fluoride from Bauxite
Bauxite producer, Australian Bauxite Limited (ASX:ABX) is pleased to announce that it has finalised a Heads of Agreement with technology provider, Refined Ore Industries Limited for the ALCORE project which is the development of bauxite beneficiation and refining technology to produce from bauxite Aluminium Fluoride which is used in aluminium production and in lithium ion batteries.
During the September Quarter 2017, Queensland Bauxite Limited (ASX:QBL) continued to press to progress the development of its flagship South Johnstone DSO bauxite project in northern Queensland, with the Company aiming to generate positive net cash flows in the short term through the commencement of DSO bauxite production and shipping.
Australian Bauxite Ltd (ASX:ABX) provides the Company's Quarterly Report and Activity Statement for three months to 30 September 2017.
The Board of Queensland Bauxite (ASX:QBL) is most excited to announce that via its subsidiary Medical Cannabis Ltd, the initial sample range of hemp products under the name Vitahemp, will be ready for introduction to the Australian market in November 2017. Hemp foods are an extremely nutritious form of food product made from low THC Cannabis.
In accordance with the requirements of Listing Rule 3.1 Australian Bauxite Ltd (ASX:ABX) submit the attached material being presented at the TechKnow Invest Roadshow in Melbourne and Sydney.
Loading of the next two bauxite cargoes of bauxite producer, Australian Bauxite Limited (ASX:ABX) commenced at Berth 6, Bell Bay Port, Tasmania on 21st October. The ship, MV Marianna is scheduled to depart on 24th October. Ship scheduling and associated logistics in making the cargoes available have gone smoothly, with ABx delivering the two cargos weeks ahead of deadlines.
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