ASX200 marks seventh straight gain, which bauxite stock kicked 14.3%?

Australian stocks have risen for a seventh straight session with miners and bankers pulling the ASX200 up 60.9 points, or 1.1%, to 5,385.9.

Wall Street had rallied last night on upbeat earnings reports, sending the Dow Jones Industrial Average up 215 points to settle at 16,615, while the Nasdaq added 103 points to end at 4,419.

While the market continued its positive momentum, one bauxite explorer drew investor attention.

Queensland Bauxite (ASX:QBL) jumped 14.3% to $0.024 on very heavy volume of 22.8 million shares being traded. This is the most active for the company in five weeks.

Earlier this month, it flagged that it would soon deliver a Scoping Study for its South Johnstone Bauxite Project in Queensland.

This will assess the potential economic viability for the development of a bauxite mining operation.

Assaying of gibbsite sAMPles using the Innovex portable XRF instrument analyser has also identified levels of total alumina as high as 55% and total silica at less than 5%.

South Johnstone bauxite is consistently bauxitic, which the alumina refineries need. There have been reports Chinese alumina refiners may struggle to find new supplies of gibbsitic bauxite in 2015.

Queensland Bauxite aims to become a low cost bauxite producer in Australia with extensive surface bauxite and close distance to deep-water port at Mourilyan.