Mar. 19, 2010
Australian Bauxite Ltd has raised $3.5 million for additional working capital through a 10 million-share placement - 14.29% of the company's issued capital.
According to an announcement on March 18, 2010, there are now 80 million shares on issue. This represents a market capitalisation of $30.4 million.
Separately, the company has lodged eight exploration permits with the Tasmanian government. It says mining in the area has the advantage of short-haul distances, allowing for increased export volumes.
