An Initial Public Offering (IPO or share float) is proposed for the bauxite explorer Cape Alumina for mid 2008.
Cape Alumina is 40 per cent owned by Brisbane-based Metallica Minerals Ltd and is developing a Weipa bauxite project.
A 100% owned subsidiary of Metallica Minerals Ltd (ASX: MLM)] called Oresome Australia is also conducting an exploration program with Matilda Minerals (ASX: MAL) at the Urquhart Point mineral sand deposit, which is part of Matilda's Cape York Project.
The deposit is located 2km across Albatross Bay.
They also have interest in a few kilometres of beach frontage you might have heard of ... some call it the Western Cape!
1 comment:
What is wrong with our Mines Department - would they allow mining along Cairns, Sunshine Coast and Gold Coast beaches. There would be an absolute hue and cry but a remote ecosystem - who cares! I hope the 'powers that be' act to protect this wonderful environment for future generations.
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