Australian Bauxite Limited (ABx) released results for the just-ended quarter yesterday, as well as announcing plans to develop technology aimed at large-scale production of aluminium fluoride by the end of 2019.
ABx reports cash on hand at the quarter’s end of A$242 million, with A$173 million remaining after payment of port costs and product transportation. Though no prices were given, ABx reported two significant sales in the quarter, namely the sale of 30 thousand metric tons of mixed grade blended cement-grade bauxite ore, and 5 thousand metric tons of cement-grade bauxite ore. Both sales were delivered three weeks early and shipped from Bell Bay Port on October 24.
The firm reported progress in its Binjour project, noting that ABx and its partner Rawmin applied for a government grant to aid in staffing up the central Queensland bauxite project. In addition, resource modeling was conducted in the quarter, with plans in the works of collecting between 500 and 2,000 metric tons of bauxite marketing samples in the near future.
ABx also verified the effectiveness of its TasTech technology in the quarter by successfully completing a bulk-scale mining project at the Fingal Rail project area, using bauxite ore from both Fingal Rail and Bald Hill projects.
In addition to reports of business already conducted, ABx announced the imminent development of ALCORE technology. Per the firm, the technology produces aluminium fluoride (AlF3) for which ABx says there currently exists a demand of around 50 thousand metric tons per year in Australia. ABx’s current plans consist of completing the design and cost plans by the end of next February, raising funds through the first half of next year, and ultimately commissioning the plant by the end of 2019.
Based in Sydney, ABx conducts operations in Tasmania, Queensland, and New South Wales. The firm boasts combined JORC resources of 124 million metric tons in twenty-two tenements covering almost two thousand square kilometers in Eastern Australia. Its Binjour tenement in Queensland is considered by the company to be its flagship project.