Cape Alumina weighs funding option for DSO project
PERTH (miningweekly.com) – ASX-listed Cape Alumina on Thursday told shareholders that it was reviewing its fund-raising options for the Bauxite Hills project, as it considers a direct shipping ore (DSO) start-up operation.
Earlier this week, the junior announced a 19.85-million-tonne DSO inferred resource at Bauxite Hills, in addition to its previously announced 15.1-million-tonne inferred beneficiated bauxite resource.
The company said, at the time, that an internal review of the Bauxite Hills operation had indicated that a DSO product could be produced and shipped at low capital and operating costs, and had the potential to increase the economic viability of the project.
Cape Alumina said additional funding would be required to enable follow-up activities at Bauxite Hills, including to identify additional DSO resource, undertake technical and material handling studies, as well as further analysis of the in-fill drilling samples collected in 2012.
The company would also require additional funding to start dry-season environmental work to progress the environmental approvals for the project.
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