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Sydney, Oct 30, 2012 (ABN Newswire) - Australian Bauxite Limited (
ASX:ABZ) quarterly report is dated 30th October 2012 and is for the three months to 30th September 2012 with the following principal points
Corporate
- Share Purchase Plan raises $455,850
- Cash in hand at 30 September was $2.29 million Exploration
- Tasmanian bauxite project taking shape
-- 334 holes & 1,521 samples have defined best bauxite zones in central Northern Tasmania.
- Drill success at Tasmanian deposit DL-130 showing 6 metre thick Bauxite over wide area
-- 97km trucking distance to Bell Bay deep water port on heavy duty highway
- Three State Significant projects - Study, results and development updated
-- Expediting development of two nearterm bauxite export operations to ship bauxite from Port Kembla and Bell Bay ports
-- Goulburn Pre Feasibility completed
-- Binjour metallurgical studies commenced
Tenement status
Tenements are 100% in good standing.
For the full quarterly report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-ABZ-703477.pdf
ASX:ABZ) quarterly report is dated 30th October 2012 and is for the three months to 30th September 2012 with the following principal pointsCorporate
- Share Purchase Plan raises $455,850
- Cash in hand at 30 September was $2.29 million Exploration
- Tasmanian bauxite project taking shape
-- 334 holes & 1,521 samples have defined best bauxite zones in central Northern Tasmania.
- Drill success at Tasmanian deposit DL-130 showing 6 metre thick Bauxite over wide area
-- 97km trucking distance to Bell Bay deep water port on heavy duty highway
- Three State Significant projects - Study, results and development updated
-- Expediting development of two nearterm bauxite export operations to ship bauxite from Port Kembla and Bell Bay ports
-- Goulburn Pre Feasibility completed
-- Binjour metallurgical studies commenced
Tenement status
Tenements are 100% in good standing.
For the full quarterly report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-ABZ-703477.pdf
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About Australian Bauxite Limited
Australian Bauxite Limited (ABx) (ASX:ABZ) holds the core of the newly discovered Eastern Australian Bauxite Province. Its 37 bauxite tenements in Queensland, NSW and Tasmania covering 8,500 km2 were rigorously selected on 3 principles: 1. good quality bauxite; 2. proximity to infrastructure connected to export ports; and, 3. free of socio-environmental or native title land constraints.
All tenements are 100% owned and free of obligations for processing and third-party royalties. ABx has already discovered many bauxite deposits and new discoveries are still being made as knowledge and expertise grows.
The company's bauxite is high quality and can be processed into alumina at low temperature – the type that is in short-supply globally. Global resources declared to date are 68 million tonnes. At the company's first drilling prospect in Inverell, northern NSW, an interim resource of 35 million tonnes has been reported from drilling 15% to 20% of the area prospective for bauxite and a resource of 25 million tonnes of bauxite has been reported at the Taralga project in southern NSW. 6 million tonnes maiden resource was declared at Guyra. Results from the Binjour Plateau in central QLD confirm that ABx has discovered a significant bauxite deposit including some bauxite of outstandingly high quality. Australian Bauxite Limited aspires to identify large bauxite resources in the Eastern Australian Bauxite Province which is emerging as one of the world's best bauxite provinces.
ABx has the potential to create significant bauxite developments in three states - Queensland, New South Wales and Tasmania. Its bauxite deposits are favourably located for direct shipping of bauxite to both local and export customers.
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Financial General | Mining | Bauxite | |
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