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 Australian Bauxite Ltd
Australian Bauxite Limited (ABx) (ASX:ABX) has its first bauxite mine in Tasmania & controls the Eastern Australian Bauxite Province. ABx's 11 bauxite tenements in Queensland, New South Wales & Tasmania totalling 662 km2 are all 100% owned, unencumbered & free of third-party royalties. ABx's bauxite is gibbsite trihydrate (THA) bauxite that can be processed into alumina at low temperature.
ABx has committed a large proportion of its expenditure into Research and Development to find ways to capitalise on the main strengths of its bauxite type which is very clean, free of all deleterious elements and partitioned into layers, nodules, particles and grains of different qualities that can be separated into different product streams using physical, chemical and geophysical methods.
ABx has declared large Mineral Resources in northern NSW, southern NSW, Binjour in central QLD & in northern Tasmania.
ABx's first mine commenced at Bald Hill near Campbell Town, Tasmania in December 2014 - the first new Australian bauxite mine for more than 35 years.
ABx aspires to identify large bauxite resources in the Eastern Australian Bauxite Province and has created significant bauxite development projects in 3 states, Queensland, New South Wales and Tasmania. Its bauxite deposits are favourably located for direct shipping of bauxite to both local and export customers.
ABx endorses best practices on agricultural land, strives to leave land and environment better than we find it. We only operate where welcomed.
| ||
|
