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) started as a bauxite miner in Tasmania in 2014 & controls the Eastern Australian Bauxite Province. In 2020 to 2023, ABx also discovered Australia’s only true ionic adsorption clay Rare Earth Elements resource at Deep Leads in pine plantations 40km west of Launceston with a JORC-compliant resource of 89 million tonnes from only 29% of the mineralised outline, averaging 844 ppm total rare earth oxides that is the most enriched in the critically important rare earths, Dy and Tb, of any Australian REE deposit.
ABx has also developed a proprietary technology to produce fluorine chemicals from an aluminium smelter waste product and return the fluorine back into the smelters, thus reducing reliance on imported aluminium fluoride.
ABx has committed a large proportion of its expenditure into Research and Development and has found ways to capitalise on the main strengths of its bauxite type which is very clean, free of all deleterious elements and can be separated into different product streams using physical, chemical and geophysical methods. It has produced and marketed specialist bauxite products for the manufacturers of fertiliser, cement with high late strength for major infrastructure such as bridges and is in the advanced stages of approvals for production of metallurgical bauxite from its Binjour Bauxite deposit with JORC-compliant resources of 37 million tonnes of bauxite, in a joint development with a Chinese-focussed Australian trading company Good Importing International.
ABx is also preparing to produce fertiliser grade and cement grade bauxite from its DL130 bauxite quarry in northern Tasmania, 40km west of Launceston. This quarry is sited in the middle of the large Deep Leads REE deposit and may one day be a site for heap leaching of the REE using a low-cost, benign leachate with the same acidity as apple juice or tea.
ABx endorses best practices on agricultural land, strives to leave land and environment better than we find it. We only operate where welcomed.
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