Bauxite Resources Limited - Annual Report to Shareholders
14.10.2013 | ABN Newswire
Perth, Australia (ABN Newswire) - During the year Bauxite Resources Ltd. (ASX:BAU) focused on the development of its bauxite interests in Western Australia with the objective of commercial development of bauxite and alumina capacity to support a developing market in China.Achievements during the financial year were:
- Exceptional resource growth of 96% to 243.7 million tonnes
- Successful cash conservation strategy achieved cash balance at end of year of $44 Million
- Implementation of inaugural share buyback for the Company for up to 10% of the issued capital
- Selective reduction of non-prospective tenement holdings from approximately 25,000km2 to now 17,710km2
- Appointment of highly respected mining professional Mr Peter Canterbury as CEO/Executive Director
- Effective expenditure review and implementation resulting in significant cost reductions
To view the annual report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-BAU-652463.pdf
About Bauxite Resources Limited:
Bauxite Resources Ltd. (ASX:BAU) was established in May 2006 to become a part of the bauxite and alumina industries in Western Australia where four of the seven Australian alumina refineries and four of Australia’s bauxite mines are located. The Company listed on the Australian Securities Exchange (ASX) in October 2007.
Bauxite Resources is the largest tenement holder in the Darling Range with approximately 22,500 km2 of ground. This area in south-west Western Australia is acknowledged as the largest producing alumina region in the world supplying approximately 23% of global production.
Contact:
Bauxite Resources Ltd.
T: +61-8-9200-8200
F: +61-8-9200-8299
WWW: www.bauxiteresources.com.au