Majors Express Interest - Virtual Data Room Established
Sydney, Dec 21, 2012 AEST (ABN Newswire) - Australian Bauxite Limited (
ASX:ABZ) has established a virtual data room in response to approaches made since its declaration of three State-Significant Projects (ASX 27 September 2012).
All participants have been afforded equal access, based on their commitment level, commencing with execution of a confidentiality agreement, and then progressing through term sheet and MoUs.
The data room is currently open to six international groups and their advisors, who are investigating the ABx opportunity, be it at tenement, project, subsidiary or company level.
Site visits have been conducted in each of the Projects and are ongoing.
ABx gives no assurance that any proposal, agreement or transaction will result.
ABx will update the market of further developments.
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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