From today's March 2016 Quarterly:
Bauxite Resources is in a strong financial position with significant cash reserves and no debt. As at 31 March 2016 the Company held AU$27.3 million in cash.
Future Operations:
The Board is now focussed on identifying new oportunities both within and outside the mining industry and is undertaking reviews of new projects.
The Company’s current cash burn rate has been reduced significantly, and it is expected to maintain these levels in the near term with surplus assets continuing to be reviewed and rationalised in an orderly manner as markets allow for reasonable prices to be achieved.
The Board will continue to manage the Company in the best manner in which to maximise returns to shareholders and these may include various capital management initiatives.
Cheers tela
Ann: March 2016 Quarterly Activities and Cashflow Report-BAU.AX, page-2
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