the next few months will be interesting

I love the low profile that this stock has, considering the potential. I guess the small amount of share that are not owned by the major holders 28% / 72% and the small cash holding on hand is keeping the price down along with most small cap stocks. I think that the results of the updated PFS for Goulburn and the decision to go to BFS will have a big impact on the share price. Time will tell.

Taken from the presentation to Proactive Investors on 22 August.

1. GOULBURN BAUXITE PROJECT
• Announce Pre Feasibility Study results End Aug 2012
• Mining Lease Application Process Commenced Feb-Apr 2012
• Decision to Proceed to Bankable Feasibility? 3rd Qtr 2012
2. BINJOUR
• Binjour Resource Upgrade DONE 29 Jun’12
• Commence Pre Feasibility Studies 2013 ?
3. TASMANIA – NEW FOCUS
• Resource drilling & estimation Aug-Dec 2012
• Scoping Study & ML Application Dec 2012 onward

As per the half yearly report released yesterday.

A Pre Feasibility Study for the Goulburn Bauxite Project completed studies for low-capital cases for production commencing at 1.25 million tonnes per year and growing sequentially to full production as markets grow.

? Recent major changes at Port Kembla for future access to shipping in Panamax (+60,000 tonnes) or larger ships occurred shortly after the draft PFS was completed and these changes are being assessed and incorporated into the PFS during August.

? In conjunction with the Marubeni Group which has an option to purchase a 35% interest in the Goulburn Bauxite Project, a Stage 2 Pre Feasibility Study was commenced by GHD Engineers to assess the costs and practicality of commencing a 2.5 to 3 million tonne per year, larger-scale operation from the outset. This expanded study is due in September.

? Whilst the Goulburn PFS work was continuing, 3 project areas were identified in parts of Tasmania where there should be no socio-environmental constraints to early shipments of bauxite.

Negotiations with various stakeholders, customers,contractors, ports and engineering firms are ongoing and drilling is expected to occur during late August.

? The large Binjour project in central QLD was diamond drilled to sample and identify the siliceous gel material that causes parts of the bauxite layer to appear subgrade when analysed by the company’s standard lab procedure. This material has been identified as veinlets of pure hydrous Halloysite – a translucent suspension of clay and water in a gel. Testwork on various simple procedures to remove this gel material are proving successful and show potential to expand the size and continuity of resources substantially.