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Cape Alumina in pre-open pending resource statement and capital raising details
Edited by : AL CIRCLE
1 min read
Cape Alumina (ASX: CBX) has been granted a trading halt by the ASX pending the release of a proposed capital raising and the finalisation of a resource statement, with the company's shares placed in pre-open.
Cape Alumina has not yet indicated where the funding injection will be allocated or the location of the resource statement, but the company has recently been very busy.
The company's operations are focused on bauxite and are located in the highly prospective western Cape York bauxite province in Queensland - which is strategically located close to the Asian markets.
Cape Alumina said that the area is set to become the world’s largest source of export bauxite, which is estimated to contain over 3 billion tonnes.
Rio Tinto Alcan has been the only Weipa bauxite producer for over 50 years and remains the only exporter of Australian bauxite.
The halt will last until the announcement is made to the market, or the opening of trade on Tuesday 29 November.
Cape Alumina has not yet indicated where the funding injection will be allocated or the location of the resource statement, but the company has recently been very busy.
The company's operations are focused on bauxite and are located in the highly prospective western Cape York bauxite province in Queensland - which is strategically located close to the Asian markets.
Cape Alumina said that the area is set to become the world’s largest source of export bauxite, which is estimated to contain over 3 billion tonnes.
Rio Tinto Alcan has been the only Weipa bauxite producer for over 50 years and remains the only exporter of Australian bauxite.
The halt will last until the announcement is made to the market, or the opening of trade on Tuesday 29 November.
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