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.
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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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