Australian Bauxite Limited (ABx) is a 100% owned subsidiary of Hudson Resources Limited (Hudson).
ABx directors, Peter Meers, Ian Levy and Wei Huang are currently attending and promoting ABx at the China Mining Congress and Expo (China Mining) being held at Tianjin, China.
China Mining is one of the world top 4 mining events and has become one of the largest mineral exploration and mining trading platforms. It plays an important role in creating greater communication and co-operation opportunities for Chinese and international mining corporations.
Peter Meers is the Chief Executive Officer of Hudson and Chairman of ABx; Ian Levy is the Managing Director of ABx; and Wei Huang is a non-executive director of both Hudson and ABx.
ABx is acquiring the bauxite interests of Hudson and raising funds through an IPO to advance the bauxite exploration program.
ABx is offering for subscription 20,000,000 shares at an issue price of $0.20 per share to raise $4 million.
Hudson holds 50 million shares in ABx and upon completion of the IPO will hold 71% of ABx.
The ABx team are making a number of presentations at China Mining and we provide the attached presentation.
HRS Price at posting:
25.5¢ Sentiment: LT Buy Disclosure: Held
