The Company has now acquired its own drill rig capable of rapid and efficient exploration. The bauxite at South Johnstone is located at surface with minimal to no overburden. This provides for a potential simple low operating cost mining operation. When drilling results are at hand, these will be released to the market.
Australian bauxite explorer, Australian Bauxite Limited (ABx) (ASX:ABX), has been granted its first mining lease, ML1961 at its Bald Hill Project in Northern Tasmania. Bald Hill is located 60 kms southwest of Launceston.
Maersk Oil, a wholly owned subsidiary of Copenhagen's AP Moller-Maersk AS, has decided to write off US$1.7 billion of investments in the Wahoo and Itaipu oil fields, while divesting its ownership in the Polvo field.
Hudson Resources Limited has accepted Sovereign Gold Company Limited's (ASX:SOC) (Sovereign Gold) offer for its Mount Adrah shares and options bringing Sovereign Gold's interest in Mount Adrah Gold Limited (Mount Adrah) to 95.9%.
Sovereign Gold Co Ltd (Sovereign Gold) (ASX:SOC) advises that Hudson Resources Limited (ASX:HRS) (Hudson) has acquired a 17.2% holding in Mount Adrah Gold Limited (Mount Adrah), a subsidiary of Sovereign Gold.
Bauxite Resources (ASX:BAU) Video Q&A with Peter Canterbury CEO who explained that the company recently undertook a review to determine where best to allocate shareholder funds and have decided to pay a 4 cents per share capital return.
Bauxite Resources Limited (ASX:BAU) (OTCMKTS:BXRDF) is pleased to announce a resource update for the Fortuna bauxite deposit in the Darling Range, Western Australia. Bauxite Resources Limited retains 100% beneficial interest to the bauxite.
