It is only two years ago that Bauxite Resources launched an IPO for a very modest $7.5m to get itself into the bauxite and alumina industries. It seemed a giant leap at the time. But earlier this year the junior pulled in Shandong Provincial Bureau of Geology and Mineral Resources as a 15 per cent shareholder, meaning a cash injection of $9.87m. Now BAU is looking at establishing an alumina processing plant in Western Australia, having signed a non-binding memorandum of understanding with Yankuang Group, another Shandong province outfit with interests in coal mining, electricity generation and aluminium smelting. Watch this space!
BAU Price at posting:
44.5¢ Sentiment: Buy Disclosure: Held
