QBL now closer to start mining 2018 - this looks like a fantastic year.
MOURILYAN PORT AUTHORITY https://www.asx.com.au/asxp…/20150210/pdf/42whmz061x4cz7.pdf
On the 10/02/2015, QBL signed an H.O.A. with the Mourilyan Port Authority to ship a minimum of 800,000 tonnes of bauxite per annum from their port facility. The arrangement allows for full utilisation of the port infrastructure including F.O.B. costs. (getting the ore onto the ships)
The Port of Mourilyan is located 15-24klm west, by road, of the South Johnston mine site and has excellent road connections.
Logistics - Transportation/ore processing
The bauxite mineralisation at South Johnstone being close to the surface and right off the main highway adjacent to the port, close to Asian markets, means that the Company's capital and operational costs are estimated to be of the lowest cost producers in the world. As per the Company's released scoping study, capital expenditure is expected to be only approximately $5 million dollars, and operating expenditure is expected to be only AUD$20.87 per tonne FOB Mourilyan Harbour. https://www.asx.com.au/asxp…/20141229/pdf/42vrwl7fb881b7.pdf
* Approval of the MDL
* The DEHP has approved the Environment Authority
* Trial samples (PLURAL) are in international refineries currently being tested and assessed.
* The company has hired a professional mining marketing firm to source and assist in negotiations with large international bauxite customers in Asia.
QBL is ready to move forward as soon as negotiations are formalised and ore samples have been given the green light to be of interest to be processed for offtake by the refineries.
This latest progress is very encouraging - once they get the "go" sign from the refineries, they are fully permitted and ready start mining.
Considering the market for bauxite/aluminum is strong and growing, it will not be long til QBL get revenues from bauxite as well !
Imagine what this will do for the valuation of the company... I think we will see at least a 5-bagger within 2018.