Australian Bauxite Ltd (ASX:ABX) 2nd Milestone Achieved. ALCORE Lab Lock-Up Stage Completed

Sydney, Dec 3, 2018 AEST (ABN Newswire) - Australian Bauxite Ltd (ASX:ABX)(A7B:FRA) (ABx)'s wholly-owned subsidiary, ALCORE Limited has acquired the equipment needed to produce test samples of key products and constructed the Stage 1 Core Laboratory to lock-up stage, thus staying ahead of schedule and within budget.

An Open Day for seed investors was held last Wednesday 28 November. A video of construction made by members of the ALCORE team showing development of of the Lab can be seen at Australianbauxite.com.au/Interviews&News.htm and photos below show some images from the Open Day.

- ALCORE's patent (pending) application technology is designed to refine raw bauxite to produce Aluminium Fluoride (AlF3) and other valuable co-products including the Corethane gas-substitute - see Figures 1 & 2. AlF3 is a key electrolyte ingredient in aluminium production by aluminium smelters.

- Global demand for AlF3 and associated co-products continues to increase as aluminium smelter production increases and the use of AlF3 in lithium ion batteries increases.

- Site construction and design for Stage 1 of the ALCORE project commenced on 1 July as planned at ALCORE's pre-approved Pilot Plant site in Berkeley Vale, Central Coast NSW.

- Stage 1 is designed to produce AlF3 test samples for pre-qualified aluminium smelter customers & then produce Corethane, which is pure hydrocarbon powder refined from low-value coals.

- Corethane has been used to provide thermal and electrical power. It has been used as a gas-substitute to fuel a large gas turbine for 14 months and achieve accreditation as a turbine fuel to generate electricity, with very low CO2 emissions similar to natural gas.

- Corethane has also been used as a diesel substitute for fuel security purposes and is ideally suited for use as a sulphur-free bunker fuel.

- Corethane also has industrial applications and several potential customers have already requested test samples for their industrial plants.

- Graphite refining to a very high purity for use in high-efficiency batteries will also be tested.

- Discussions continue with governments, agencies and major companies in the aluminium industry.

ABx CEO, Ian Levy commented: "ABxs subsidiary ALCORE is sufficiently funded to deliver Stage 1 of the ALCORE project, thanks to strong support from seed capital investors. ALCORE's powerful new bauxite refining technology can lead to Australia's first production of AlF3 products to provide security of supply for Australasian aluminium smelters. ALCORE's production of Corethane hydrocarbon can change the energy supply and fuel security outlook for eastern Australia"

ALCORE Limited is expected to unlock considerable value for shareholders in the short and medium term."
Achieving another milestone ahead of schedule has taken an extreme effort by many ALCORE staff, which has given us the confidence to overcome any unexpected obstacles that may arise."

"ABx is also pressing ahead with its three core bauxite projects; the Tasmanian mine, the large Binjour Project in central QLD and the Penrose refractory bauxite project 90km inland of Port Kembla NSW.

Planning is underway for trial mining and processing testwork at the Binjour Project."

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About ABx Group Limited

ABx Group Limited (ABx) (ASX:ABX) is a uniquely positioned Australian company delivering materials for a cleaner future.

The three priority projects are:

- Heavy rare earths: Supplying light and heavy rare earths from Tasmania into Western supply chains

o Processing Options Analysis conducted in partnership with external experts

- Clean fluorine chemical production: Producing industrial chemicals from aluminium smelter by-product (ALCORE)

o Continuous pilot plant under construction in Bell Bay, Tasmania

- Near-term bauxite production: Mining bauxite resources for the aluminium, cement and fertiliser industries

o Agreements executed with Good Importing International for bauxite projects in Queensland and New South Wales, and $2.7 million initial payment has been received

o Approvals well advanced for DL130 bauxite project in northern Tasmania

ABx endorses best practices on agricultural land and strives to leave land and environment better than we find it. We only operate where welcomed.

   

Contact

Ian Levy CEO and MD Australian Bauxite Limited Telephone: +61-2-9251-7177 Mobile: +61-407-189-122