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 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.
| ||
|
X/Twitter
Facebook
LinkedIn
