logo-loader
Bauxite Resources

Bauxite Resources attracts speeding ticket

bauxite_resources_fortuna_deposit_358_54162541ce670.jpg

Bauxite Resources (ASX:BAU) shares have risen 43.5% to an intra-day high of $0.165 today from a close of $0.115 prompting the ASX to issue a price and volume query.

In response, the company said it was unaware of any reason not already announced that could explain the recent trading.

However, it noted that it had recently completed a $0.04 per share capital return to shareholders that was approved by shareholders at the extraordinary general meeting and paid yesterday.

It has also reached a conditional settlement with a proposed shareholder class action against the Company before commencement of any proceedings.

BAU had in July increased the Resource at its Athena bauxite deposit in the Darling Range, Western Australia by 59% to 36.2 million tonnes grading 32.8% (low temp) available alumina (41.8% total) and 2.8% reactive silica.

It also has a Resource of 40.2 million tonnes at 31.2% low temperature available AI2O3 and 1.8% reactive silica for its Fortuna deposit.

In addition, the company still has $31 million in cash following the capital return.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

Quick facts: Bauxite Resources

Price: $0.04

Market: ASX
Market Cap: $9.22 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Minotaur Exploration reveals high-grade copper shoots at Jericho JV

Minotaur Exploration Limited (ASX:MEP) managing director Andrew Woskett updates Proactive Investors on the company’s Jericho JV (OZ Minerals 80%, Minotaur 20%) copper discovery southeast of Cloncurry, northwest Queensland. Early intercepts show encouraging results, with thick and high...

1 hour, 4 minutes ago

2 min read