Bauxite Resources Limited Sept 2013 Quarterly Activities and Cashflow Report
25.10.2013 | ABN Newswire
Perth, Australia (ABN Newswire) - Bauxite Resources Ltd. (ASX:BAU) ("BRL" or the "Company") continues to focus primarily on the exploration and evaluation of bauxite prospectivity in BRL's extensive tenement holding in Western Australia's Darling Range, the largest bauxite and alumina producing region in the world. Currently the Company holds ~17,710 km2 (9,595 km2 granted).Highlights:
- Bauxite resources of Bauxite Resources Ltd. ("BRL") and its joint ventures partners totals 256.4Mt - resources are near surface, situated close to existing road, rail and port infrastructure.
- BRL's 100% Fortuna bauxite deposit upgraded to 39.5Mt @ 37.3% Total Al2O3 (28.8 % available @ 148degC), 5.2% SiO2 (1.6% reactive @148degC) (all grades are unbeneficiated).
- BRL enters development evaluation phase for supply into the international bauxite market of its 100% owned bauxite resources.
- Robert Nash named new Chairman of BRL following retirement of Barry Carbon AM.
- New Yankuang Chairman visits Felicitas deposit.
- Yankuang Resources and HD Mining nominate Australian based executives to be appointed as BRL board members.
- Share buyback program continued with 1.8 million shares purchased. Currently suspended (see below).
- Cash at bank A$43.7 million and no debt.
Fortuna - 100% BRL
During the quarter, the Company announced an increase to its Fortuna Deposit (100% BRL) to 39.5 million tonnes and the commencement of development evaluation for the project.
The resource defined to date on this tenement has attributes similar to other Darling Range bauxites which supply the existing refineries in Western Australia.
The BRL Fortuna bauxite project area is:
- situated on a small number of private landholdings;
- located approximately 60km north east of Perth, being 10km from the town of Wundowie;
- approximately 12km to the south of existing infrastructure providing a link to Kwinana port approximately 120km away.
The Company is pleased with the increase of the resource, first reported in the June 2013 quarter, further exploration is planned during the coming six months following the company finalising additional land access agreements on the deposit.
To view the quarterly report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-BAU-654176.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