Proactive Investors - Run By Investors For Investors

Australian Bauxite granted halt pending capital raising announcement

Australian Bauxite granted halt pending capital raising announcement

Australian Bauxite (ASX: ABZ) has been granted a trading halt by the ASX pending details of a proposed capital raising, with the company's shares placed in pre-open.

Australian Bauxite has not yet indicated where the potential inflow of funds will be allocated, but the company recently expanded Pre-Feasibility Studies at the Goulburn Bauxite Project due to thick bauxite discovered earlier in the year.

Importantly - over half of the 38 million tonne resource has been identified as high grade.

Pre Feasibility Study Metallurgical Tests confirmed that the remaining 47% of total identified bauxite resources, called PDM-DSO bauxite, contains dense, hard, magnetic emery nodules that are easily recovered by gravity screening for sale, leaving the remaining 70% light fraction as DSO grade bauxite.

The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Wednesday 6th June.

 

Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

View full ABX profile View Profile

Australian Bauxite Ltd Timeline

Newswire
December 10 2013

Related Articles

A gold pour
February 27 2019
Metalla aims to leverage precious metal exposure by acquiring royalties and streams to build value for shareholders
1547791194_RNX-757.JPG
January 18 2019
The company’s focus is the Yandal East Gold Project and it also has base metal exposure through a prospective Canadian asset.
1528701921_Minto-mine.jpg
June 11 2018
Pembridge has secured US$30mln from a major Japanese trading house

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use