20 FEBRUARY 2015www.proactiveinvestors.com.au
Queensland Bauxite extends time for entitlement issue
Edited by : AL CIRCLE
1 min read
Queensland Bauxite has offered shareholders additional time to take up shares under its one-for-four entitlement issue priced at $0.014 per share to raise up to $1,782,167.
The issue, which now closes on 10th March 2015, includes one free attaching option exercisable at $0.10 and expiring 31st July 2016 for every two shares subscribed.
Proceeds will be used to prove up larger tonnages of Indicated bauxite resource from drilling an initial surface only Exploration Target area at the South Johnstone Bauxite Project.
Funds will also be used to prepare for the mining of the existing indicated resources.
A Scoping Study for the South Johnstone Bauxite Project in Queensland indicated a highly profitable bauxite business could be achieved based on low capital costs, low operating costs and current Port capacity.
QBL recently beefed up its ranks to fast track environmental and mining lease applications at South Johnstone and mine planning retaining Northern Resource Consultants and John Joseph Howard.
The company’s directors have previously indicated their intention to take up their full entitlements under the offer.
The issue, which now closes on 10th March 2015, includes one free attaching option exercisable at $0.10 and expiring 31st July 2016 for every two shares subscribed.
Proceeds will be used to prove up larger tonnages of Indicated bauxite resource from drilling an initial surface only Exploration Target area at the South Johnstone Bauxite Project.
Funds will also be used to prepare for the mining of the existing indicated resources.
A Scoping Study for the South Johnstone Bauxite Project in Queensland indicated a highly profitable bauxite business could be achieved based on low capital costs, low operating costs and current Port capacity.
QBL recently beefed up its ranks to fast track environmental and mining lease applications at South Johnstone and mine planning retaining Northern Resource Consultants and John Joseph Howard.
The company’s directors have previously indicated their intention to take up their full entitlements under the offer.
Unlock full access – sign up for FREE.
Key benefits
Find exclusive data-driven insights and in-depth analysis
Get our daily newsletter delivered straight to your inbox
Access real-time and historical price trends from global indices
Post and respond to latest business leads
Stay ahead with alerts on learning tools
...and so much more!SIGN UP / LOGIN
Previous article
Indian Govt. plans to ease export duties to boost mining
Next articleCanyon Resources signs MoU with Bolloré Africa Logistics for Birsok Bauxite Project
Grow with
AL Circle
