Queensland Bauxite requests trading halt, pending placement

Queensland Bauxite has requested a trading halt for its shares from the ASX pending an announcement of a placement.

The company said the halt is requested until commencement of trading on Thursday 5th March 2015.

Recently, QBL extended its one-for-four entitlement issue priced at $0.014 per share to raise up to $1,782,167 until 10th March 2015.

The offer also had one free attaching option exercisable at $0.10 and expiring 31st July 2016 for every two shares subscribed.

In February, an agreement was struck with Far North Queensland Ports Corporation Limited for a confirmed allocation of 800,000 tonnes per annum of bauxite through the Port of Mourilyan.

The Heads of Agreement was signed with Ports North. There could be scope for additional tonnage over time.

The Port of Mourilyan is located within 16-25 kilometres by road of the South Johnstone Bauxite Project.

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