Quarterly Activities Report to June 30, 2012
Sydney, July 30, 2012 AEST (ABN Newswire) - Australian Bauxite Limited (
ASX:ABZ) announce the quarterly report is dated 30 July 2012 and is for the three months to 30 June 2012.
PRINCIPAL POINTS
Corporate
- Mr Vincent Tan retired as a director
- Cash in hand at 30 June was $2.8 million
- Pre-feasibility study nearing completion
- $1.68 million capital raising completed 8 June 2012
- $0.45 million share purchase plan to eligible shareholders; completed 12 July
Exploration
- Goulburn - Taralga bauxite resource up by 50% to 38 million tonnes
- Binjour bauxite resource increased by 46% to 24.5 million tonnes
- Inverell - grade improvement
Goulburn Bauxite Project Pre-Feasibility Study (PFS) expanded
An engineering study by GHD consultants is in progress to provide a ramp-up option to export 2.5 to 3Mtpa bauxite in Panamax or Cape Size ships out of Port Kembla. This will complete the PFS work, expected during the September quarter.
Conclusions of the PFS will be reported on completion of the GHD study and once commercial negotiations with potential customers are well advanced. At the completion of the pre-feasibility study Marubeni can elect to acquire a 35% joint venture interest in the Goulburn-Taralga bauxite project.
Tenement status
Tenements are 100% in good standing.
Market Commentary
Bauxite Supply Volatility as Predicted Bauxite shipments from Indonesia jumped then fell sharply as bans and taxes took effect. This supports ABx's business plan.
View the full Quarterly Activities Report here:
http://media.abnnewswire.net/media/en/docs/ASX-ABZ-687666.pdf
About ABx Group Limited
ABx Group Limited (ABx) (ASX:ABX) started as a bauxite miner in Tasmania in 2014 & controls the Eastern Australian Bauxite Province. In 2020 to 2023, ABx also discovered Australia’s only true ionic adsorption clay Rare Earth Elements resource at Deep Leads in pine plantations 40km west of Launceston with a JORC-compliant resource of 89 million tonnes from only 29% of the mineralised outline, averaging 844 ppm total rare earth oxides that is the most enriched in the critically important rare earths, Dy and Tb, of any Australian REE deposit.
ABx has also developed a proprietary technology to produce fluorine chemicals from an aluminium smelter waste product and return the fluorine back into the smelters, thus reducing reliance on imported aluminium fluoride.
ABx has committed a large proportion of its expenditure into Research and Development and has found ways to capitalise on the main strengths of its bauxite type which is very clean, free of all deleterious elements and can be separated into different product streams using physical, chemical and geophysical methods. It has produced and marketed specialist bauxite products for the manufacturers of fertiliser, cement with high late strength for major infrastructure such as bridges and is in the advanced stages of approvals for production of metallurgical bauxite from its Binjour Bauxite deposit with JORC-compliant resources of 37 million tonnes of bauxite, in a joint development with a Chinese-focussed Australian trading company Good Importing International.
ABx is also preparing to produce fertiliser grade and cement grade bauxite from its DL130 bauxite quarry in northern Tasmania, 40km west of Launceston. This quarry is sited in the middle of the large Deep Leads REE deposit and may one day be a site for heap leaching of the REE using a low-cost, benign leachate with the same acidity as apple juice or tea.
ABx endorses best practices on agricultural land, strives to leave land and environment better than we find it. We only operate where welcomed.
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