Update re Release of Resource Upgrade
The directors of QBL wish to inform shareholders and the market, that the
process of preparing the report relating to the upgrading of the resource
underpinning the scoping study is still ongoing.
Further positive results from the project have been received over the past week
and are being incorporated within the model and being prepared in accordance
with the requirements and expectations of the JORC 2012 and the ASX Listing
Once the release is finalised and approved for release, the Company will
resume trading. This process may yet take another few days.
The directors look forward to providing this important release as soon as
Sholom D Feldman
Executive Director / Company Secretary
Scoping Study South Johnstone Bauxite Project Released
The Scoping Study for South Johnstone Bauxite Project has been released and the results confirm the significant potential and benefits from development of the project.
The Study assesses the potential economic viability of the development of a bauxite mining operation at South Johnstone.
This study was undertaken by an independent consultant as well as with key input from other contributors including independent industry experts and consultants and produced compelling Net Present Value and Internal Rate of Return metrics as well as low capital and operating cost estimates for the major facets of the South Johnstone project.
The Directors of Queensland Bauxite are excited by the opportunities presented by the Study.
Progress Report on South Johnstone Project – 10 September 2014
The Scoping Study is proceeding to assess the potential economic viability of the development of a bauxite mining operation at South Johnstone.
This study is being undertaken by an independent consultant and will produce capital and operating cost estimates for the major facets of the South Johnstone project.
Site visits have taken place which included discussions with relevant landowners, ports, councils and other authorities and to date they have all been favourable towards the development of the project.
The Scoping Study is anticipated to be completed in September/October 2014.
Drilling has recommenced at South Johnstone and seeks to upgrade the Inferred Resource inventory. Results will be released when at hand.
The completion of the Scoping Study will further strengthen the Company’s position in the discussions with potential off-take partners.
Update on South Johnstone Bauxite Project – 18 August 2014
Work is continuing at the South Johnstone Project in north Queensland.
A number of activities are being progressed that aim to deliver positive outcomes at the Project.
The Scoping Study is expected to be completed within the next six to eight weeks.
Quarter Activities – June 2014
Queensland Bauxite has been focused on defining significant bauxite resources to enable a feasibility study to be undertaken to develop a bauxite mining and export operation.
With the recent confirmed bauxite discovery at South Johnstone, the Company is evaluating the economics of developing a DSO bauxite export operation.
The Company is engaging independent consultants to prepare a scoping study to provide baseline data on development options.
The Company is currently looking at the potential economics of mining and shipping through Mourilyan Port.