Ann: Request For Voluntary Suspension extension 7 days, page-190

Basically they are testing the market now that they have an MDL to ship a sample. The fact they didn't have any refineries signed up before the MDL ready to go should say something and the other fact of the matter is that juniors try to sell lower grade concentrates/ores all the time without results, so it's not like this is new.

The other option is they are exploring cement and other bauxite products which sell for cheaper but have lower grade requirements. Others on the ASX (I think ABX) is doing this but check the pricing because metallurgical bauxite is normally 2x or more the price of cement grade.

Heck, some others have succeeded (not bauxite but I've seen sub 20% copper concentrate sold as is when the market is 25% minimum) and if QBL succeed on this front (i.e. if they ever start selling from south johnstone) then I'll own up and say that my experience was outdated and incorrect.

I just don't see it in this case because the costs of refining bauxite to alumina are so high per tonne of feed. International export grade bauxite is 50% and over alumina, and usually low reactive silica (5% or so max). This means every 2 feed tonnes ends up with approximately 1 tonne of alumina product. If you reduce to 30% (rounding up for QBL) that means you need 3.33 tonnes for every 1 tonne of bauxite.

If you can feed 1000 tonnes to your plant normally with 50% alumina bauxite you get 500tonnes product, where as with QBL bauxite you're getting 300 tonnes. Same amount of energy, work, people, and you get 40% less product. You can see why I'm skeptical of the outcomes.