12th June 2014 Exploration Results Confirm Significant Bauxite Resource at South Johnstone.
“The over 30 million tonne resource already identified from these initial results received is already sufficient for a major bauxite DSO export operation. The Company would initially look to ship approximately 5 million tonnes per year through Mourilyan Port. Based on current reported bauxite prices, an export operation of 5Mt per year of bauxite would mean revenue of between $200- 300 million per annum.”
Low Cost – High Revenue:
“Bauxite export prices have been recently reported at around $60 per tonne with surface deposit bauxite mining reported by other companies to cost around $10 per tonne in addition to transportation and port costs.”
QBL Price at posting:
1.4¢ Sentiment: Buy Disclosure: Held