03 FEBRUARY 2015www.proactiveinvestors.com.au
Queensland Bauxite reports strong cash balance to support project development
Edited by : AL CIRCLE
1 min read
Queensland Bauxite has reported $4.34 million in cash reserves as it embarks on the next stage of positioning its South Johnstone bauxite project for development.
During the September quarter, QBL defined at initial JORC Indicated Mineral Resource and a Scoping Study that detailed financial outcomes and profit metrics for a direct shipping ore (DSO) bauxite mining and export operation.
The company noted it is continuing discussions with refineries and commodity trading groups toward best development option.
Applications for environmental approval and a Mining License are underway to enable production to commence in 2015.
Capital expenditure reported in the Scoping Study was relatively low befitting a mining and quarrying operation to produce a DSO product with a favorable location to the nearby Port of Mourilyan.
During the September quarter, QBL defined at initial JORC Indicated Mineral Resource and a Scoping Study that detailed financial outcomes and profit metrics for a direct shipping ore (DSO) bauxite mining and export operation.
The company noted it is continuing discussions with refineries and commodity trading groups toward best development option.
Applications for environmental approval and a Mining License are underway to enable production to commence in 2015.
Capital expenditure reported in the Scoping Study was relatively low befitting a mining and quarrying operation to produce a DSO product with a favorable location to the nearby Port of Mourilyan.
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
China’s bauxite imports from Australia peak at 1.87 million tons in Dec. 2014
Next articleIllegal mining on Solomons' Rennell Island
Grow with
AL Circle
