Cape Alumina (CBX)

Shares / Stock Code

CBX

Stock Exchange / Sharemarket

Australian Securities Exchange

Cape Alumina (CBX) was formed on 2 February, 2004 to explore for metallurgical bauxite resources in Queensland. The company expanded its interest into Cape York on 8 March, 2004 and changed its name to Cape Alumina Pty Ltd on 23 February, 2005 reflecting the shift in primary focus to western Cape York. Cape Alumina then set about securing key untenured areas of potential bauxite mineralisation in western Cape York. A funding arrangement between Metallica Minerals and Anegada Metals Corporation was agreed on 20 May, 2005 to advance the project. Investors can trade Cape Alumina shares on the Australian Stock Exchange (ASX).

On 11 November 2008, Cape Alumina opened its Initial Public Offer, which presented the public with a unique opportunity to invest in Australia's leading pure-play bauxite company. Despite the tumultuous climate arising from the global financial crisis, the IPO was a success after raising approximately $15 million. It closed on 20 January 2009 resulting in the issuing of 30 million shares listing on the Australian stock market at $0.50c per share. Cape Alumina attracted 500 new shareholders, who are mainly Queensland-based.

Cape Alumina listed on the ASX on 29 January, 2009. In addition to the public-held shares, major shareholders in Cape Alumina include ASX-listed Metallica Minerals Limited (MLM 33%), Chiping Xinfa Huayu Alumina Co Ltd (Xinfa 18.6%) China's largest independent alumina-aluminium company and Resource Capital Fund, a respected, resources focused private equity firm.

Cape Alumina has identified seven priority bauxite exploration areas but has as yet drilled only one of these - focusing its attention on one of Australia's largest undeveloped export-quality bauxite resources at Pisolite Hills, situated 50km NE of Weipa. The company is evaluating this project for development of a greenfield mine and export operation. Cape Alumina intends to systematically assess it's remaining exploration areas over the next two years.

Western Cape York Bauxite Project

The Western Cape York Bauxite Project is situated in the world class Weipa Bauxite Province approximately 2000km NW of Brisbane in Queensland, Australia. The project comprises five mining lease applications, twelve granted Exploration Permits for minerals and six exploration permit applications covering over 2400km2 of land prospective for bauxite mineralisation. The applications contain several bauxite deposits discovered in the 1960’s and 70’s as well as numerous un-tested plateau areas of potential bauxite mapped using remote sensing techniques by Cape Alumina geologists.

Cape Alumina plans to initially evaluate key bauxite deposits for potential surface mining, beneficiation, haulage and barging to offshore-moored ships for export. The envisaged operations will likely use conventional mining and beneficiation techniques and large capacity, heavy-haul road trains coupled with barge-loaded Panamax ships for export. At the completion of each annual mining campaign subsoil and top soil will be replaced and re-spread, contoured and seeded in preparation for the wet season.

Cape Alumina will seek to prove sufficient reserves to justify and sustain an annual production and shipping rate of 5.0 to 7.0 mtpa of bauxite with ≥50% Al2O3 and <9% Reactive Silica over a 10 to 20 year mine life. Cape has been conducting a community consultation programme in Western Cape York and has negotiated land access for exploration with a number of aboriginal groups.

Cape Alumina (CBX) Products and Services

  • Securing bauxite deposits in Queensland to establish a major bauxite export operation and to assess the options for an integrated bauxite-alumina business.

Cape Alumina (CBX) Locations and Subsidiaries

Cape Alumina Head Office
Suit 6,, 56 Peel Street, South Brisbane,
QLD, AUSTRALIA, 4101
Phone: (07) 3844 9911
Fax: (07) 3844 9919

Cape Alumina (CBX) Share Price

Submitted by ASX Listed Company on 8 July, 2010 - 17:00