Quarterly Report to 30 June 2016
Sydney, July 25, 2016 AEST (ABN Newswire) - Australian Bauxite Limited (
ASX:ABX) Quarterly report & activities statement dated 24 July 2016 for 3 months to 30 June 2016.
PRINCIPAL POINTS
Corporate
- Current group available cash plus R&D incentive due is in the order of $2.9 million
- Annual general meeting held, all resolutions passed
- Approval given by shareholders to issue 662,423 shares to the directors in lieu of cash consideration for their services
- ABx welcomes 100 new shareholders over the last month, bringing the total to 2,794 shareholders.
Operations: Bald Hill mine to produce new shipments
- Strong sales totalled 40,000 tonnes of cement-grade bauxite stockpiled at Bell Bay port from ABx's Bald Hill mine - the first new bauxite project in Australia for more than 35 years. Sale prices are satisfactorily profitable & commercial in confidence ? Fertiliser-grade bauxite sales continued at moderate tonnages
- New markets are emerging for both cement-bauxite and metallurgical bauxite for the aluminium industry with its marketing partner, Rawmin Mining Industries
- R&D by ABx achieves proof of concept that an all-weather technology (dubbed "TasTech") can produce 3 bauxite product types at good tonnages all year round, namely:
1. high grade metallurgical-grade gibbsite bauxite exceeding 45% Al2O3 for the aluminium industry
2. cement-grade bauxite for the production of cement
3. fertiliser-grade and other bauxite-types.
Bauxite Markets
- Markets for metallurgical bauxite may have bottomed in May-June 2016. Prices have risen in recent weeks.
Assessment of Binjour Bauxite Project, Queensland
- Binjour project, centred on the large Binjour resource, 115km inland from Bundaberg Port in central Queensland.
ABx is re-assessing the optimum way to develop this statesignificant new bauxite province with potential to become the flagship project for ABx over the next few years.
- A staged development commencing with cement-grade production at 150,000 to 550,000 tonnes per annum, using existing infrastructure appears to be an attractive, low-risk option for the Binjour project.
- Testwork of "TasTech" will be conducted on Binjour bauxite samples in coming months
- Discussions have begun with companies holding adjacent bauxite-bearing tenements to determine if additional economies of scale can be achieved.
Tenement status
- All tenements are in good standing and 100% owned.
To view the report, please visit:
http://abnnewswire.net/lnk/0BZQF5D9
About ABx Group Limited
ABx Group Limited (ABx) (ASX:ABX) is a uniquely positioned Australian company delivering materials for a cleaner future.
The three priority projects are:
- Heavy rare earths: Supplying light and heavy rare earths from Tasmania into Western supply chains
o Processing Options Analysis conducted in partnership with external experts
- Clean fluorine chemical production: Producing industrial chemicals from aluminium smelter by-product (ALCORE)
o Continuous pilot plant under construction in Bell Bay, Tasmania
- Near-term bauxite production: Mining bauxite resources for the aluminium, cement and fertiliser industries
o Agreements executed with Good Importing International for bauxite projects in Queensland and New South Wales, and $2.7 million initial payment has been received
o Approvals well advanced for DL130 bauxite project in northern Tasmania
ABx endorses best practices on agricultural land and strives to leave land and environment better than we find it. We only operate where welcomed.
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