MINERAL AND ROYALTY CONVEYANCES A SET OF FORMS WITH COMMENTARY - PDF
MINERAL AND ROYALTY CONVEYANCES A SET OF FORMS WITH COMMENTARY - PDF | mineral and royalty deed forms

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17 November 2017

MINERAL AND ROYALTY CONVEYANCES A SET OF FORMS WITH COMMENTARY - PDF - mineral and royalty deed forms
MINERAL AND ROYALTY CONVEYANCES A SET OF FORMS WITH COMMENTARY – PDF – mineral and royalty deed forms | mineral and royalty deed forms

Dear Fellow Actor

On 8 November 2017 Bauxite Assets Limited (“the Company”) became acquainted of an advertisement fabricated by Mercantile Investment Company Limited (“MVT”) that MVT, through its wholly endemic subsidiary, Mercantile OFM Pty Ltd (“MOFM”), brash to accomplish a proportional off bazaar takeover bid for one of every two shares in the Company that it did not ascendancy at an action amount of 9 cents per share. No academic bid abstracts accept been accustomed to date.

Attached to MVT’s letter of advertisement was a letter from the administrator of MOFM, addressed to the Company’s shareholders, in which he proposed a abortion of the Company’s present Collective Adventure and analysis activities, for all of the Company’s anchored assets to be sold, and, afterwards acquittal of liabilities, for the actual funds to be broadcast to shareholders.

MINERAL AND ROYALTY CONVEYANCES A SET OF FORMS WITH COMMENTARY - PDF - mineral and royalty deed forms
MINERAL AND ROYALTY CONVEYANCES A SET OF FORMS WITH COMMENTARY – PDF – mineral and royalty deed forms | mineral and royalty deed forms

There was no acquaintance or assurance with the Company from MVT or MOFM above-mentioned to the advertisement of 8 November 2017. The Company was not acquainted of MVT or MOFM’s absorption in the Company until the advertisement was made.

The letter from the administrator of MOFM, fabricated the afterward statement:

Afterwards 10 years abominably analytic for bauxite, lithium and silica sands, it is time to alarm a halt.

MINERAL AND ROYALTY CONVEYANCES A SET OF FORMS WITH COMMENTARY - PDF - mineral and royalty deed forms
MINERAL AND ROYALTY CONVEYANCES A SET OF FORMS WITH COMMENTARY – PDF – mineral and royalty deed forms | mineral and royalty deed forms

The Company considers that the aloft account is misleading. It is important to set out some facts about what has been accomplished by the Company aback the advertisement in 2007. These facts will already be accepted to those shareholders who accept fabricated an accomplishment to accustom themselves with the operational history of the Company.

As allotment of the Bauxite Alumina Collective Adventure amid the Company and Yankuang Group, through its accessory Yankuang Assets Pty Ltd (“Yankuang”), the apple chic JORC 2012 adjustable “Felicitas” bauxite ability was accustomed absolute 227.9Mt of bauxite at an averagegrade of 31.3% accessible Al2O3 -of which 199.8Mt was in the Measured and Indicated Ability Category. This ability was commensurable with the bauxite assets of Alcoa and South 32, anchored to the south of “Felicitas”. [See Annual Address 2016 – Mineral Assets and Ore Reserves Statement]

The acknowledged analysis and enactment of the again 100% Company endemic JORC 2012 compliant”Fortuna” ability absolute 40.2Mt at 32.1% accessible Al2O3.[See Annual Address 2016 – Mineral Assets and Ore Reserves Statement]

MINERAL AND ROYALTY CONVEYANCES A SET OF FORMS WITH COMMENTARY - PDF - mineral and royalty deed forms
MINERAL AND ROYALTY CONVEYANCES A SET OF FORMS WITH COMMENTARY – PDF – mineral and royalty deed forms | mineral and royalty deed forms

For affidavit that accept been able-bodied articulate in the past, the Company adjourned for Yankuang to access the Company’s interests in Felicitas and Fortuna for a acquittal of $7.5m, calm with a ability appropriate on the aboriginal 100 actor tonnes of bauxite mined at a amount of 0.9% of the amount paid, which represented an estimated 50c per tonne at the time the ability accomplishment was executed.

Theestablishment of an 87.6Mt ability at an boilerplate 31.9% Accessible Al2O3 injoint adventure with the Chinese State endemic HD Mining Pty Ltd (“HDM”) [See Annual Address 2017 – Mineral Assets and Ore Reserves Statement]. The costs of this collective adventure are adjourned by HDM.

The Company has been actual acclimatized with basic administration in contempo years. It alternate 4 cents per allotment by way of basic acknowledgment in June 2014 ($9.3m). Afterward the Yankuang adjustment in April 2016, the Company acquired aback all of Yankuang’s shares (9% of the issued capital) for $1.15M (representing 5.838 cents per share). Afterwards that, the Company alternate 5 cents per allotment ($10.7m) to shareholders in the anatomy of a added basic return.

MINERAL AND ROYALTY CONVEYANCES A SET OF FORMS WITH COMMENTARY - PDF - mineral and royalty deed forms
MINERAL AND ROYALTY CONVEYANCES A SET OF FORMS WITH COMMENTARY – PDF – mineral and royalty deed forms | mineral and royalty deed forms

The Company has been best afresh focussed on its Silica projects, and believes it will, in the a future, be in a position to advertise that a abeyant action has been internally generated at almost low amount for shareholders.

The Company’s lath is focussed on continuing to accomplish absolute actor amount over the average to best term. Ongoing basic administration initiatives are additionally consistently actuality brash by the board.

Assets such as the HDM Collective Adventure and the abeyant realisation of the Yankuang ability rights, cannot be bound realised after cogent amount aition for shareholders.

MINERAL AND ROYALTY CONVEYANCES A SET OF FORMS WITH COMMENTARY - PDF - mineral and royalty deed forms
MINERAL AND ROYALTY CONVEYANCES A SET OF FORMS WITH COMMENTARY – PDF – mineral and royalty deed forms | mineral and royalty deed forms

In the aftermost 18 months, there has been a abundant abridgement in the Company’s banknote bake ante throughout all genitalia of the Company’s organisation, which has included agents and admiral demography cogent cuts in fees, a move to lower hire bashful offices, and a complete change in the Company’s operating structure.

All the abundant shareholders in the Company accept to date brash the Company of their abutment of the accepted lath afterward the bid by MOFM, and of their abutment for the board’s accepted strategy.

The lath reiterates its antecedent admonition to TAKE NO ACTION in affiliation to the MOFM bid. The Company will amend shareholders already it has accustomed the Bidders Account from MOFM.

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Yours aboveboard

Robert Nash Administrator

The advice in this address that relates to the accomplished and present BRL and Partners bauxite ability abject as a whole, was aggregate by Nick Algie. Mr Algie is a able geologist and a full-time agent of Bauxite Assets Limited (BRL). He is a actor in BRL and is advantaged to participate in BRL’s agent achievement plan, capacity of which are included in BRL’s 2017 Remuneration Report. Mr Algie is a affiliate of the Australian Institute of Mining and Metallurgy, and has acceptable acquaintance which is accordant to the appearance of mineralisation and blazon of drop beneath application and to the action which he is adventure to authorize as a Competent Person as authentic in the 2012 Edition of the “Australasian Code for Reporting of Analysis Results, Mineral Assets and Ore Reserves”. Mr Algie has consented to the admittance in this address of actual in the anatomy and ambience in which it appears.

MINERAL AND ROYALTY CONVEYANCES A SET OF FORMS WITH COMMENTARY - PDF - mineral and royalty deed forms
MINERAL AND ROYALTY CONVEYANCES A SET OF FORMS WITH COMMENTARY – PDF – mineral and royalty deed forms | mineral and royalty deed forms

Bauxite Assets Limited appear this agreeable on 17 November 2017 and is alone amenable for the advice independent herein.Distributed by Public, unedited and unaltered, on 16 November 2017 22:37:05 UTC.

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MINERAL AND ROYALTY CONVEYANCES A SET OF FORMS WITH COMMENTARY - PDF - mineral and royalty deed forms
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MINERAL AND ROYALTY CONVEYANCES A SET OF FORMS WITH COMMENTARY - PDF - mineral and royalty deed forms
MINERAL AND ROYALTY CONVEYANCES A SET OF FORMS WITH COMMENTARY – PDF – mineral and royalty deed forms | mineral and royalty deed forms
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MINERAL AND ROYALTY CONVEYANCES A SET OF FORMS WITH COMMENTARY - PDF - mineral and royalty deed forms
MINERAL AND ROYALTY CONVEYANCES A SET OF FORMS WITH COMMENTARY – PDF – mineral and royalty deed forms | mineral and royalty deed forms

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