Shares in Perth-based bauxite explorer Bauxite Resources were up today after the company reported it would begin mining at its South Darling Range project next month.
The company plans to transport its direct shipping ore through the nearby port of Bunbury.
Bauxite Resources this month reported an initial JORC-compliant inferred resource comprising 18.2 million tonnes at 43.1 per cent total aluminium oxide, 31.6 per cent available aluminium oxide and 3.2 per cent reactive silicon dioxide.
The company said it would initially undertake a trial mining operation targeting 160,000 tonnes of bauxite (approximately four shiploads) which will be transported to a stockpile storage area close to the Bunbury port for direct loading to the ship loading conveyor and subsequent loading onto Handimax-class ships.
Bauxite Resources managing director Daniel Tenardi said the move would provide the company with the early cash flow required to fast track its full-scale development plans for a sustainable bauxite operation producing three million tonnes per annum.
Bauxite Resources was trading up two cents, or 10.81 per cent, to 20.5 cents at 10.33am.
STUART McKINNON
BAU Price at posting:
20.0¢ Sentiment: Buy Disclosure: Held
