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ABX GROUP LIMITED Capital/Financing Update 2015

May 27, 2015

64283_rns_2015-05-27_c51f27e6-c6fd-4afc-9353-36f106d01a85.pdf

Capital/Financing Update

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ASX ANNOUNCEMENT 28 May 2015

AUSTRALIAN BAUXITE LIMITED

ASX: ABX

About Australian Bauxite Limited ASX Code ABX

Australian Bauxite Limited (ABx) has started its first bauxite mine in Tasmania and holds the core of the Eastern Australian Bauxite Province. ABx’s 37 bauxite tenements in Queensland, New South Wales & Tasmania exceed 5,000 km2 and were rigorously selected for (1) good quality bauxite; (2) near infrastructure connected to export ports; & (3) free of socio-environmental constraints. All tenements are 100% owned, unencumbered & free of third-party royalties.

ABx’s discovery rate is increasing as knowledge, technology & expertise grows.

The Company’s bauxite is high quality gibbsite trihydrate (THA) bauxite & can be processed into alumina at low temperature – the type in shortsupply globally.

ABx has declared large Mineral Resources at Inverell & Guyra in northern NSW, Taralga in southern NSW, Binjour in central QLD & in Tasmania confirming that ABx has discovered significant bauxite deposits including some of outstandingly high quality.

In Tasmania, at Bald Hill, the Company’s first bauxite mine commenced operations on schedule on 9 December 2014 – the first new Australian bauxite mine for more than 35 years, with first shipments targeted for June or early 3[rd] Quarter, 2015.

ABx aspires to identify large bauxite resources in the Eastern Australian Bauxite Province, which is emerging as a globally significant bauxite province. ABx has created significant bauxite developments in 3 states - Queensland, New South Wales and Tasmania. Its bauxite deposits are favourably located for direct shipping of bauxite to both local and export customers.

ABx endorses best practices on agricultural land, strives to leave land and environment better than we find it.

We only operate where welcomed.

Directors / Officers
Paul Lennon
Ian Levy
Ken Boundy
Chairman
CEO & MD
Director
Leon Hawker Chief Operating Officer
Rob Williams General Manager
Jacob Rebek Chief Geologist
Henry Kinstlinger
Julian Rockett
Secretary
Secretary
ASX Symbol: ABX
Latest News:www.australianbauxite.com.au

Bauxite Discovery at New Portside Production Centre

  • Australian Bauxite Limited (ABx) has received highgrade assays from drill hole samples into the PR-18 bauxite deposit located north of Launceston and close to the Bell Bay export port, northern Tasmania.

  • Results are mainly high-grade, direct shipping bauxite (DSO)[1]

  • ABx considers this Portside area to be the most likely third Bauxite Production Centre. ABx’s business plan is to produce from 3 production centres so as to maximise blending to produce consistent products

  • ABx’s first two production centres are (1) the Campbell Town production centre which includes ABx’s operating mine at Bald Hill and (2) the DL-130 Production Centre west of Launceston – see Figure 1.

  • Initial bauxite resources for the Campbell Town production centre total 3.5 million tonnes.[2]

  • ABx’s total bauxite resources for all regions total 119 million tonnes, of which 9.2 million tonnes are in Tasmania[2]

  • The drilling program for the DL-130 area has concluded for 2015 and revised resource estimation will be conducted over coming months

  • Once all assays from the new PR-18 discovery are received and interpreted, additional drilling of several other known targets within the Portside Production Centre area will be undertaken as a matter of some urgency and in Spring, important base line environmental studies will be conducted to confirm the initial assessment that there are no socioenvironmental barriers to development.

Australian Bauxite CEO Ian Levy said; “This discovery is a result of ABx’s proprietary exploration technology and efficient drilling by the ABx exploration team.

Bauxite potential in this area was downgraded by early explorers because surface samples were low grade. ABx encountered similar surface results but the ABx exploration technology showed that good bauxite should exist in this area.

So ABx drilled 68 reconnaissance drill holes and the 18[th] hole discovered this excellent bauxite in an ideal location.”

For further information please contact:

Ian Levy, CEO and MD

Australian Bauxite Limited Telephone: +61 (0) 2 9251 7177 Mobile: +61 (0) 407 189 122

AUSTRALIAN BAUXITE LIMITED

ACN 139 494 885

Level 2 Hudson House 131 Macquarie Street Sydney NSW 2000 p: +61 2 9251 7177 f: +61 2 9251 7500

1 See Definitions 2 See Resources Summary

w: australianbauxite.com.au e: [email protected]

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ASX: ABX

Three Tasmanian production centres taking shape

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Figure 1: location of three Tasmanian Bauxite Production Centres, Campbell Town, DL-130 and Portside (new)

  • ABx’s business plan is to produce bauxite from 3 production centres to achieve a consistent product specification. Portside is the most likely 3[rd] production centre.

  • Bell Bay is the largest export port in Tasmania and is the bulk export for bauxite.

  • All highways, rail and port infrastructures have sufficient spare capacity for the planned bauxite exports.

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ASX: ABX

Bauxite Drill Results

Sixty-eight (68) reverse circulation drillholes, holes PR001 to PR068 were drilled in the Portside area during March-April. A total of 715 metres were drilled, and 63 metres were in bauxite.

See Figure 2 for drillhole distribution and locations.

Based on inspection, the bauxite layer occurs beneath an overlying layer of unconsolidated sediments ranging up to 12 metres thick in places which has concealed the majority of this bauxite deposit.

The bauxite formation is a flat-lying layer ranging in thickness from 2 to 4 metres.

After careful logging of the drill samples, 171 metres of samples have been sent to the ALS Laboratory in Brisbane. Results are pending.

Initial results received: To confirm that good quality bauxite had in fact been discovered, nine (9) representative samples of the bauxite were collected and dispatched to the ALS Laboratory for prompt assaying. The results from these 9 samples are shown in Table 1 following:

Table 1

Results from first assaying of bauxite drill samples from PR-18 discovery in the Portside Production Centre

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Explanations: All samples are from samples logged as bauxite and are considered representative of the bauxite encountered in these first 68 drillholes at the PR-18 bauxite discovery site. All assaying done at NATA-registered ALS Laboratories, Brisbane. Chemical definitions: Leach conditions to measure available alumina "Al2O3 Avl" & reactive silica "Rx SiO2" is 1g leached in 10ml of 90gpl NaOH at 143°C for 30 minutes. LOI = loss on ignition at 1000°C. "Avl/Rx" ratio is (Al203 Avl)/(Rx SiO2) and "A/S" ratio is Al203/SiO2. Values above 6 are good, above 10 are excellent. These samples are all raw, unsieved bauxite.

Notes

  • Results for the samples from holes PR013 and PR019 are moderate to poor grade bauxite, similar to the surface sample results that confused early explorers in this area.

  • Results for deeper samples are generally high grade. Hence, this bauxite requires assessment by drillholes rather than by surface exploration alone.

  • 7 of the 9 samples could be sold as mined, with a minimum of processing (ie. DSO-grade)[3] .

3 See definitions

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ASX: ABX

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Figure 2: First 68 drillholes at the PR-18 bauxite discovery, Portside Production Centre

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ASX: ABX

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Region Resource
Category
Million
Tonnes
Thick-
ness
Al2O3 SiO2
A/S Fe2O3 TiO2
LOI
Al2O3���
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Rx
SiO2
Avl/
Rx
Lab
Yield
O'Bur
den
Int.
Waste
mt
m
%
%
ratio
%
%
%
%
%
ratio
% m
m
������������ Inferred
1.8
3.0
42.6
3.5
12
25.4
3.5
24.6
36.7
3.0
12
50 2.1
0.1
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Indicated
1.7
3.2
42.5
3.2
14
26.4
3.0
24.5
36.2
2.8
14
55 1.8
0.1
Total
3.5
3.1
42.5
3.3
13
25.9
3.3
24.5
36.5
2.9
13
52 2.0
0.1
�������������
�Inferred
5.7
3.8
44.1
4.3
10
22.8
3.1
25.0
37.6
3.2
12
55 1.5
0.1
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9.2
3.5
43.5
3.9
11
24.0
3.2
24.8
37.2
3.1
12
54 1.7
0.1
����������
Inferred
9.0
3.9
43.7
4.5
10
22.4
3.6
24.2
38.0
3.8
10
59 8.2
0.3
DSO Indicated
15.5
5.3
44.2
3.1
15
23.4
3.7
24.9
39.5
2.6
15
62 9.4
0.3
Total
24.5
4.8
44.1
3.6
12
23.1
3.7
24.6
39.0
3.0
13
61 8.9
0.3
�����������
Inferred
3.5
4.9
40.2
7.2
6
25.3
4.9
21.7
32.8
5.2
6
67 1.5
0.0
������������
�Inferred
9.9
3.1
40.4
5.7
7
24.6
4.1
22.2
35.2
1.9
18
54 0.1
0.2
Indicated
10.2
3.7
41.3
5.3
8
25.9
4.0
22.9
36.1
1.9
19
55 0.7
0.4
Total
20.1
5.6
40.8
5.5
7
25.3
4.0
22.6
35.7
1.9
19
55 0.5
0.3
PDM-DSO* Inferred
7.6
2.5
37.0
6.0
6
38.4
3.5
13.3
22.1*
1.3
17
72 0.2
0.1
Indicated
10.3
3.1
37.6
3.9
10
40.4
3.7
13.5
22.4*
1.1
20
71 0.7
0.4
Total
17.8
5.8
37.3
4.8
8
39.6
3.6
13.5
22.3*
1.2
18
72 0.5
0.3
������������37.9
5.7
39.2
5.2
8
32.0
3.8
18.3
35.4
1.6
23
63 0.5
0.3
�������������
�Inferred
17.5
4.7
39.8
4.8
8
27.7
4.3
22.2
31.0
4.2
7
61 2.3
Indicated
20.5
4.8
40.6
4.7
9
26.9
4.1
22.5
32.0
4.0
8
60 2.4
Total
38.0
4.8
40.2
4.7
9
27.3
4.2
22.4
31.6
4.1
8
61 2.4
����������
Inferred
2.3
4.2
41.4
3.6
12
26.2
3.3
24.6
35.0
2.8
13
56 3.4
Indicated
3.8
5.9
43.1
2.6
16
27.3
3.9
24.5
37.4
2.0
18
61 4.4
Total
6.0
5.3
42.5
3.0
14
26.9
3.7
24.5
36.5
2.3
16
59 4.0
119.1
* PDM is Al2O3spinel. Al2O3Avl at 225°C is >35%
GRAND TOTAL ALL AREAS
Explanations: All resources 100% owned & unencumbered. Resource tonnage estimates are quoted as in-situ, pre mined tonnages. All assaying done at NATA-registered ALS
Laboratories, Brisbane. Chemical definitions: Leach conditions to measure available alumina "Al2O3 Avl" & reactive silica "Rx SiO2" is 1g leached in 10ml of 90gpl NaOH at
143°C for 30 minutes. LOI = loss on ignition at 1000°C.
"Avl/Rx" ratio is (Al203 Avl)/(Rx SiO2) and "A/S" ratio is Al203/SiO2. Values above 6 are good, above 10 are excellent.
Tonnage is for bauxite in-situ. Lab Yield is for drill dust samples screened by ALS lab at 0.26mm. Production yields are not directly related and are typically between 60% and
75%. Tonnages requiring no upgrade will have 100% yield. Resource estimates excludelarge tonnages of potential extensions, overburden & interburden detrital bauxite and
underlyingtransitional bauxite mineralisation. Production will clarifythese materials.

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ASX: ABX

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ASX: ABX

Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves “The JORC Code”: Table 1

Section 1 – Sampling Techniques and Data

Criteria JORC Code explanation
Commentary
Sampling
techniques

Nature and quality of sampling

Reverse circulation aircore drillhole samples at 1
metre depth intervals.

Measures to ensure sample representivity
and the appropriate calibration of any
measurement tools or systems used.

Representivity verified by twinned holes, drill sampling
tests at 0.5 metre intervals, core holes and bulk pits.
Correlations are moderate togood.

Material aspects of the determination of
mineralisation.

Bauxite identified geologically & field lab tests, ¼ samples
sent to ALS Laboratories Brisbane. Wet-screened at
0.26mm; recovered bauxite is assayed. Representative
unscreened bauxite-samples are assayed. Laboratory yields
bear an indirect relationship with actual production yields
which have averaged above 65% in bulk tests & mining.
Drill method
Drill type

Reverse circulation aircore drilling.
Drill sample
recovery

Recording and assessing chip sample
recoveries and results assessed.

Weigh samples, volume estimates, comparisons with
bulkpits.

Measures taken to maximise sample
recovery & ensure representative samples.

Lowest practical air pressure used, steady drill speed.
Drillingcontractor ispaidper daynotper metre.

Relationship between sample recovery
andgrade andpossible sample bias.

No relationship has been observed between core
recovery&grade.
Logging
Have chip samples been geologically &
geotechnically logged to a level of detail to support
appropriate Mineral Resource estimation, mining
studies & metallurgical studies.

Every metre of drill chips is logged geologically,
photographed, assayed and all data recorded in
ABacus database. Geotechnical tests are done
duringbulk testpits and trial mining.

Whether logging is qualitative or
quantitative in nature. Core (or costean,
channel, etc) photography.

Geological logging & field lab tests. Channel sampling, bulk
sampling & screened samples of bulk pits. All samples are
photographed & stored in database.

The total length and percentage of the
relevant intersections logged.

100% logged. Report lists total metres drilled,
sampled & assayed.
Sub-sampling
techniques
and sample
preparation

For non-core samples, whether riffled,
tube sampled, rotary split, etc & if
sampled wet or dry.

Quartered sampling done on undried aircore chip
samples, as drilled. Bauxite is dry.

Nature, quality and appropriateness of
the samplepreparation technique.

Sample preparation technique suits bauxite type.
Confirmed bymulti-tests.

Quality control procedures adopted for all
sub-sampling stages to maximise
representivity of samples.

Repeated sub-sampling and twinned holes produces
comparable laboratory results within natural variance
range.

Measures to ensure sampling representa-
tiveness of the in situ material collected.

Repeated sub-sampling & twinned holes produces
comparable results within natural variance range.

Whether sample sizes are appropriate to the
grain size of the material being sampled.

Sample sizes are appropriate to the grain size of the material
beingsampled. Complies with samplingtheory.

Nature, quality and appropriateness of
the assaying and laboratory procedures
used and whether the technique is
consideredpartial or total.

ALS uses industry-standard techniques for total
analysis for trihydrate bauxite types. Confirmed by
inter-lab tests & customers are satisfied with ALS
laboratoryresults after testingmanysamples.
Quality of
assay data
and laboratory
tests

For geophysical tools, spectrometers, handheld XRF
instruments, etc, the parameters used in determining the
analysis including instrument make, model, reading
times, calibrations factors applied & their derivation, etc.

Handheld XRF results in field laboratory used to
select samples for ALS laboratory analyses.

Calibration studies done and standards used.
Machine is serviced regularly.

Nature of quality control procedures adopted
(eg standards, blanks, duplicates, external
laboratory checks) & whether acceptable
levels of accuracy (ie lack of bias) & precision
have been established.

Repeated sub-sampling & twinned holes produces comparable
laboratory results within natural variance range.

Laboratory standards statistically assessed during
resource estimation.
Verification of
sampling and
assaying

The verification of significant intersections
by either independent or alternative
company personnel.

Repeated sub-sampling and twinned holes produces
comparable laboratory results within natural variance
range.

The use of twinned holes.

Twinned holes done often.

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ASX: ABX

Criteria JORC Code explanation
Commentary

Documentation of primary data, data entry
procedures, data verification, data storage
(physical and electronic) protocols.

Well-established professional database procedures,
including links back to Lab data certificates, original
loggingsheets and samplephotos.

Discuss any adjustment to assay data.

When not material, some in-situ data can be
estimated mathematically from screened lab results
of the same samples.
Location of
data points

Accuracy and quality of surveys used to locate
drill holes (collar and down-hole surveys),
trenches, mine workings and other locations
used in Mineral Resource estimation.

Drill holes sited using hand-held GPS accurate within 2
metres horizontally and within 3 metres vertically.

No down-hole surveys required for 15 metre deep
vertical holes.

Specification of thegrid system used.

MGA94

Quality and adequacy of topographic
control.

Digital 5 metre topographic contours

Pre-mining, landform is professionally surveyed,
accurate to within 0.1 metres by Leica GS15 dual
frequencyreceiver.
Data spacing
and
distribution

Data spacing for reporting of Exploration Results.

Not specified.

Is data spacing and distribution sufficient to
establish degrees of geological and grade
continuity appropriate for the Mineral
Resource and Ore Reserve estimation?

Drill spacing is suitable for estimation of Inferred &
Indicated resources but not Measured which may
need mine confirmation.

Spacings confirmedgeostatistically.

Has sample compositing been applied?
No sample compositing done.
Orientation of
data in
relation to
geological
structure

Whether the orientation of sampling
achieves unbiased sampling of possible
structures and the extent to which this is
known, considering the deposit type.

Shallow vertical holes are used to test surface layer of
bauxite as done by all bauxite companies.

Comparisons with bulk pits samples are satisfactory

Has orientation of drilling & key mineralised
structures introduced a sampling bias?

No bias has been detected from comparisons
between drillhole results and bulkpit results.
Sample
security

Measures taken to ensure sample
security.

Chain of custody methods, wire-tying & plastic
wrappingofpallets of samples.
Audits or
reviews

Results of any audits or reviews of
sampling techniques and data.

Audits by major firms and potential customers have
been satisfactory.
Section 2 – Reporting of Exploration Results
Criteria JORC Code explanation
Commentary
Mineral
tenement and
land tenure
status

Type, reference name/number, location
and ownership including agreements or
material issues with third parties such as
joint ventures, partnerships, overriding
royalties, native title interests, historical
sites, wilderness or national park and
environmental settings.

Exploration Licences are listed in this report and all
held 100% by ABx4 Pty Limited, a wholly owned
subsidiary of Australian Bauxite Limited and free of
3rdparty encumbrances, joint ventures, royalties,
native title, historical sites, wilderness or national
parks or socio-environmental constraints.

The security of the tenure held at the
time of reporting along with any known
impediments to obtaining a licence to
operate in the area.

All tenements are in good standing. A licence to operate
requires a landholder access agreement, a granted Mining
Lease and an acceptable Development Plan and
Environmental Management Plan.
Exploration done
by other parties

Acknowledgment and appraisal of
exploration by otherparties.

The bauxite deposits are new discoveries by ABx
usingitsproprietaryexploration technology.
Geology
Deposit type, geological setting and style
of mineralisation.

Bauxite formed on Tertiary volcanic tuffs.
Drill hole
Information

A summary of all information material to
the understanding of the exploration results
including a tabulation of the following
information for all Material drill holes:
o coordinates of hole collar
o dip and azimuth of the hole
o down hole length & interception depth
o hole length.

Material exploration results are reported in the
release.

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ASX: ABX

Criteria JORC Code explanation
Commentary

If the exclusion of this information is
justified, the Competent Person should
clearly explain why this is the case.

The Bauxite deposits have hundreds of holes,
thousands of samples & assays; too many data to list
in this manner.
Data
aggregation
methods

In reporting Exploration Results, weighting
averaging techniques, maximum and/or
minimum grade truncations (eg cutting of
high grades) and cut-off grades are usually
Material & should be stated.

Uncut assays used due to normal distribution.

Cut-off grades are documented in the report,
including 30% available Al2O3 for screened samples.

Where aggregate intercepts incorporate short
lengths of high grade results and longer lengths of
low grade results, the procedure used for such
aggregation should be stated.

Not applicable: simple length weighting of standard 1
metre long samples grading above the cut-off grades
is used.

Metal equivalent value assumptions.

None used.
Relationship
between
mineralisation
widths and
intercept
lengths

These relationships are particularly important
in the reporting of Exploration Results.

Intercept length down hole equals the bauxite
mineralisation true width.

If the geometry of the mineralisation with
respect to the drill hole angle is known,
its nature should be reported.

Holes are vertical and the bauxite is horizontal
geometry.

If it is not known and only the down hole
lengths are reported, there should be a
clear statement to this effect.

Not applicable: bauxite mineralisation is horizontal;
perpendicular to the vertical holes.
Diagrams
Appropriate maps & sections (with scales) & tabulations
of intercepts should be included for any significant
discovery being reported These should include, but not
be limited to a plan view of drill hole collar locations &
appropriate sectional views.

Summarised maps are shown in the report.
Balanced
reporting

Where comprehensive reporting of all Exploration Results
is not practicable, representative reporting of both low and
high grades and/or widths should be practiced to avoid
misleading reporting of Exploration Results.

Summarised in the report, with examples shown as
appropriate.
Other
substantive
exploration
data

Other exploration data, if meaningful & material,
(but not limited to): geological observations;
geophysical survey results; geochemical survey
results; bulk samples – size & method of
treatment; metallurgical test results; bulk density,
groundwater, geotechnical & rock characteristics;
potential deleterious or contaminating substances.

Material exploration data included in the report.
Further work
Nature & scale ofplanned further work.

Summarised in the report.

Diagrams clearly highlighting areas of possible
extensions, including the main geological
interpretations & future drilling areas.

Summarised in the report except where commercially
sensitive.

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ASX: ABX

Figure 3: ABx Project tenements and major infrastructure in eastern Australia

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