Quarterly Report
Sydney, Oct 31, 2018 AEST (ABN Newswire) - Australian Bauxite Ltd (
ASX:ABX) provides the Company's Quarterly Report.
Corporate
- Group available cash at the end of the quarter was $1.74 million and now stands at about $2.2 million
Sales & Operations
- Sales in the quarter totalled 978 tonnes as part of regular sales of fertiliser grade bauxite
- A letter of intent to supply chemical-grade bauxite was signed for treatment of industrial waste water in Bangladesh
- A tender submission for a cement-grade bauxite shipment was completed and samples of a suite of products provided for customer assessment
Bauxite Refining Technology
- ABx incorporated ALCORE Limited as a wholly owned subsidiary to fund and manage the ALCORE Project, leading to the construction of an ALCORE Production Plant to produce Aluminium Fluoride (AlF3) & valuable co-products
- ALCORE technology is used to beneficiate and refine raw bauxite with a market price of $50 into high-value products worth more than $US 800 per tonne, including:
a. Aluminium Fluoride (AlF3) used as an electrolyte for aluminium smelters & lithium ion batteries;
b. Silica fume for our cement industry customers and manufacturers of low-CO2 geopolymer cement;
c. Corethane which is an ultra-pure hydrocarbon that can substitute for natural gas for electricity and industrial heat generation and can be used for metallurgical use and brickmaking; and,
d. Refractory-grade bauxite & potentially high purity alumina (HPA) for making scratch-resistant sapphire glass.
- ALCORE will be the first Australian supplier of AlF3 to the Australasian Aluminium Smelters
- Funding is in place to complete Stage 1, scheduled to take 3 months for final design (now completed), 1 month for final permitting, followed by 3 months construction and up to 5 months of production.
- ALCORE completed on schedule, the design of the Stage 1 plant the ALCORE Research Centre at Berkeley Vale on the NSW Central Coast and has now acquired the required equipment
- Production of AlF3 test samples could commence before year-end, well ahead of schedule
- Once sufficient AlF3 is produced for rigorous testing, the pilot plant will test the production of Corethane, which will provide the fuel for heat and electrical power for the ALCORE Production Plant and will also demonstrate its use as a gas-substitute in gas turbine electrical generators and its use as a diesel substitute for fuel security purposes. Corethane has significant energy and industrial potential
- ALCORE technology is relatively low-risk because it operates at ambient temperatures and pressures
- The ALCORE business plan targets long-established, broad industrial markets with many potential buyers
- Subject to regulatory, statutory and shareholder approvals as required, the ALCORE project is holding discussions with governments, agencies and companies that have showed strong interest in both AIF3 and the main co-products, Corethane and silica fume.
To view the full report, please visit:
http://abnnewswire.net/lnk/K7I24N46
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.
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