01 APRIL 2015www.proactiveinvestors.com.au
Queensland Bauxite directors increase shareholding
Edited by : AL CIRCLE
1 min read
Queensland Bauxite directors have acquired further shares in the company worth $367,500 from the recent entitlement offer to shareholders.
Executive chairperson Pnina Feldman and executive director Sholom Feldman acquired 26,250,000 shares at $0.014 in the offer through Volcan Australia as they took up their full allocation as the company.
QBL is looking to develop the South Johnston bauxite project near Innisfail and 20 kilometres from the Port of Mourilyan.
The company's coffers have been heartily filled with a raising of $910,000 in equity funding from a Chinese investment group, China Bauxite Trading & Investments Company, founded by a former China Non Ferrous Metal Corporation executive.
CBTIC took the placement at $0.014 per share at the same share price as the entitlement offer.
The rights issue raised $1,782,167 and was fully subscribed. The company also had $4,340,000 in cash at March quarter end.
South Johnstone is being positioned as one of few Australian bauxite projects that could move into production in 2015 given location to the Port, available export capacity, relative CAPEX and OPEX and mining costs.
Executive chairperson Pnina Feldman and executive director Sholom Feldman acquired 26,250,000 shares at $0.014 in the offer through Volcan Australia as they took up their full allocation as the company.
QBL is looking to develop the South Johnston bauxite project near Innisfail and 20 kilometres from the Port of Mourilyan.
The company's coffers have been heartily filled with a raising of $910,000 in equity funding from a Chinese investment group, China Bauxite Trading & Investments Company, founded by a former China Non Ferrous Metal Corporation executive.
CBTIC took the placement at $0.014 per share at the same share price as the entitlement offer.
The rights issue raised $1,782,167 and was fully subscribed. The company also had $4,340,000 in cash at March quarter end.
South Johnstone is being positioned as one of few Australian bauxite projects that could move into production in 2015 given location to the Port, available export capacity, relative CAPEX and OPEX and mining costs.
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