Chalco is investing $3bil odd for new smelter in FNQ - could be Gladeston or Bowen. RIO/Chalco investing mil's to extend port at Weipa. Part of MKYs tenements butt up to Chalco. Chalco's smelters in China already process RIO's bauxite, so no problem with quality
Chalco are looking at investing in downstream bauxite - i.e. energy (clean coal). MKY happen to have acquired EPC (coal) not far away. They have high U readings+high Thorium+coal, which could suggest geothermal energy or some other clean coal energy
Chairman/major holder of MKY (Allan Blood)is also Chairman/major holder of AEC (they currently have around US$30billion worth of clean coal technology orders on their books - Nathan Tinkler is a director of AEC). Apart from this AEC sold one of their cct projects to yanks for US$2bil, and another urea project for $3 bil.
Chinese delegation is coming out next week(s) with view to discussing investment - they have been talking for some time, IMO talks are well advanced.
The RIO Weipa bauxite mine (one of MKY's tenements butts up to) is the 6th largest mine in the world - that covers ALL commoditites. RIO's mine opened in 1961 and has a 1,210 million tonne reserve, so it's been producing for over 40 years. Rio has the ports + a smelter in situ. MKYs' tenements are next door. MKY also have a couple of tenements next door to Cape Alumina"s Pisolite Hills project.
MKY's tenements are not near the Barrier Reef - they are on the western side of the Cape - WEIPA.
MKY have 3,000 sqk world-class bauxite, last time I looked BAU had 6,000 odd sqk
I'm a big fan of bauxite and BAU, but you have to admit MKY @ 1.4c doesnt look too shabby. Valuation of bauxite tenements will be made available soon - shareholders need to vote on share swap at AGM in November.
Good luck with BAU .... Exciting times ahead for bauxite
BAU Price at posting:
17.0¢ Sentiment: None Disclosure: Not Held
