Queensland Bauxite confirms the progress of South Johnstone Bauxite Project in June quarter report

Queensland Bauxite Limited has published its June Quarter 2017 report and updated on its progress on the development of its flagship South Johnstone DSO bauxite project in northern Queensland. The company aims to generate positive net cash flows in the short term once they start production and shipping from DSO bauxite project. 

The company has completed meetings with the Department of Environment and Heritage Protection and Department of Infrastructure, Local Government and Planning on the South Johnstone Bauxite Project and awaits the grant of Minerals Development Licence (MDL) for the project.

The MDL would enable practical feasibility and export from South Johnstone Bauxite project. They are also completing final environmental studies and monitoring to enable the grant of a full Mining Licence for the project.

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The bauxite project with the lowest projected production cost has already generated long term viability for the company. Mining engineering and environmental consultants for the company continue to work towards gaining Mining Lease (ML) to enable mining of all the feasible ore at Camp Creek. QBL has also hired a marketing agency to assist in the process of obtaining sales agreements with alumina refineries. 

Queensland Bauxite has also acquired a 55% Controlling Stake in Premier Australian Cannabis and Hemp Company Medical Cannabis Limited (MCL).