Half Yearly Report and Accounts
Sydney, Sep 6, 2019 AEST (ABN Newswire) - Australian Bauxite Ltd (
ASX:ABX) provide the Half Yearly Report and Accounts, for the period ending June 30, 2019.
Corporate
- In May 2019, at Australian Bauxite Limited's (ABx) Annual General Meeting, all resolutions put to the meeting, were passed on a show of hands
- Group cash balance was $1.3 million at 30 June 2019 andi currently about $0.93 million with more than $0.5 million to be received in Q4 2019 in R&D rebate for research done in 2018
- Number of shareholders is approximately 2,100
Activities during the half-year
1. Sale of 32,477 tonnes of cement grade bauxite was loaded and shipped from Bell Bay in early June 2019, having been produced and delivered to port 3 weeks ahead of schedule
2. Sales of fertiliser-grade bauxite continue as superphosphate fertiliser made by acid-processing of ABx bauxite is gaining strong sales. Reinstating of soil at Bald Hill mine has also preserved and secured stockpiles of fine-grained bauxite that is ideal for ALCORE's bauxite refining project
3. ABx's subsidiary, ALCORE Limited commenced trial bauxite refining experiments at the ALCORE Research Centre to produce aluminium fluoride which is used to make aluminium smelters more efficient and in lithium ion batteries. ALCORE has discovered a powerful new reagent mixture to refine ores into valuable fluoride compounds and co-products
4. Bulk sampling at the Binjour Bauxite project in Queensland confirmed drillhole grades. Upgrading tests were successful
5. Assessment and development of the Penrose bauxite deposit, 90km inland from Port Kembla has received positive results from tests done by several large companies
To view the full report, please visit:
https://abnnewswire.net/lnk/E48CTD0B
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.
| ||
|
