Most interesting.
A company called Bauxite Australia is 100% owned subsidiary of UMC. Bauxite Australia ownes 6,830 km2 of exploration rights in the north Kimberley area.
IF TRUE and they are to IPO their bauxite prospect, it would be a strong endorsement for the likely success of their iron ore project in the central Pilbara - and for that matter the bauxite as well.
Info that should come via the ASX first though.
spin off bauxite , page-3
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