First Bauxite Corporation (FBX- TSX-V) is taking all the right steps towards becoming a near term, medium size producer of high quality Refractory A grade Super Calcined (RASC) bauxite.
What is bauxite and what are it’s uses? Bauxite is a sedimentary rock most commonly used in the production of aluminum and is classified according to it’s commercial application which includes Metallurgical, Abrasive, Cement, Chemical and Refractory. Raw bauxite sells between US $35-$45/Mt, but First Bauxite is focused on the niche market of Refractory A grade Super Calcined (RASC) bauxite used in the steel industry to line high temperature furnaces and it sells for much more, ~ US $500/Mt.
As an AGORACOM client, assume I’m horribly conflicted but the numbers speak for themselves and warrant taking a closer look. Specifically, initial production is estimated to begin as early as Q1/2011 with projected annual production levels of 100,000 Mt of RASC at an estimated all in production cost of US $200/Mt.
It certainly looks like the market has noticed this Company and it shows with the stock up an impressive 66% since October 2009.
FIRST BAUXITE CORP. HIGHLIGHTS:
- Two advanced projects in Guyana, Bonasika and Waratilla Projects. Strong pipeline of projects.FBX controls half the Guyanese bauxite belt (Essequibo Project – Option agreement with Rio Tinto Alcan over Essequibo)
- Feasibility Study on Bonasika project in progress; to be completed in Q1 2010
- FBX already in direct and indirect discussions with consumers – Marketing agreements expected well before commencement of production
- Unique product: only Guyana & China supply the non-China world’s demand for Refractory bauxite
For an in-depth look at First Bauxite, please click on the image below to view a 10 minute comprehensive presentation on FBX, narrated by First bauxite President, Mr. Ioannis Tsitos.
First Bauxite Corp. Profile
First Bauxite Corp. IR Hub