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 vessel is loaded up, ready to leave Esperance port with Bald Hill lithium concentrate bound for China
January 17 2019
The merged companies had been equal partners on WA’s Bald Hill spodumene mine.
Chris Giles signs the Kalkaroo Native Title Mining Agreement
January 15 2019
Kalkaroo is Australia’s largest undeveloped open pit copper-gold deposit on a copper-equivalent basis.
worker on a hill
April 19 2018
The turnaround plan at the Drakelands mine is beginning to take effect

© 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