Owns multiple high-quality bauxite mines. Central Queensland, Australia, is rich in bauxite resources [ICM conference]

At the 2025 Indonesia Mining Conference & Critical Metals Conference - Aluminium Industry Forum, Dr. Qingtao Zeng, founder and managing director of Australasian Gold Limited, shared insights on the topic of "High-Quality Bauxite with Strategic Growth Potential in Central Queensland, Australia."

MONOGORILBY Bauxite Project

The project is located in central Queensland, Australia.

The project's advantages are as follows:

1. Accessibility:It is easily accessible via sealed roads, just a 350-kilometer drive from Brisbane.

2. Railway Connection:It is adjacent to the railway system leading to the Port of Bundaberg, with access south to the Port of Brisbane.

3. Well-Developed Infrastructure:It is close to the state power grid and has an abundant water supply.

4. Government Support:It is situated in a mining-friendly region, enjoying strong support from the government and local community.

The MONOGORILBY Bauxite Project has completed a reverse circulation drilling program involving 94 holes, with the initial JORC estimate conducted by Mining One, an independent mining consultancy firm.

The project has further exploration potential, with surface samples indicating high-grade bauxite outside the current resource boundary: some samples show alumina content as high as 52.8% and reactive silica content as low as 1.4%.

Overview of Mineral Resources

According to the JORC 2012 standard, the inferred resource is 54.9 million mt of bauxite, with an alumina content of 37.5% and a total silica content of 7.9%.

The project has a favorable alumina-to-reactive silica ratio, with gibbsite as the primary mineral.

Preliminary exploration and metallurgical testing indicate good potential for beneficiation:

1. High-quality direct shipping ore (DSO) can be obtained through simple crushing, screening, and washing of the 1-3 meter thick surface hardpan layer (with available alumina content ranging from 35-40% and reactive silica content ranging from 1-3%).

2. Ordinary-quality DSO can be obtained at a mass recovery rate of 38% (with available alumina content below 30% and reactive silica content above 5%).

MAY QUEEN SOUTH Bauxite Project

Field surveys and surface rock sampling results indicate high-grade titanium, with TiO₂ content reaching up to 17.55%.

According to the JORC 2012 standard, the May Queen South Bauxite Project has an inferred mineral resource estimate of 54.9 million mt, with an alumina grade of 37.5%, a titanium dioxide grade of 5.2%, and reactive silica of 7.9%. In the future, further shallow drilling operations are planned to assess the potential of high-grade titanium zones.

Significant gallium content potential

MAY QUEEN SOUTH Bauxite Project

In the MAY QUEEN SOUTH Bauxite Project in Queensland, rock chip samples have shown significant gallium mineralization characteristics: notable levels of the semiconductor elements gallium (Ga) and germanium (Ge) have been discovered in the project. Among 12 randomly collected samples, the average gallium content is 67.59 g/mt, with a maximum value of 145.5 g/mt.

The project (with exploration license numbers EPM 16260 and EPM 16261) has an inferred mineral resource estimate of 54.9 million mt according to the JORC (2012) standard. This includes: 37.5% total alumina, 5.2% titanium dioxide content, and 7.9% reactive silica content.

Since 2021, the price of gallium has more than doubled, rising from $422 per kg in 2021 to over $900 per kg in 2024. This demand is primarily driven by industries such as semiconductors, LEDs, and solar cells. Additionally, China controls approximately 98% of the global gallium supply. Diversifying critical mineral resources holds significant strategic value.

Infrastructure Advantages

MAY QUEEN SOUTH Bauxite Project

The project is located less than 55 km from a railway spur connecting to the Port of Bundaberg and can also be conveniently accessed by Queensland Rail to the Port of Brisbane. The project has road transport access, offering the potential for low-cost direct logistics and transportation. XRD analysis has confirmed the presence of gibbsite mineral characteristics, suitable for low-temperature, low-pressure Bayer refining processes. There is strong direct shipping demand for high-quality bauxite from India, China, and Southeast Asia.

Mount Clement and Capella Gold Projects in Queensland

The project is located in the Drummond Basin, Queensland, and belongs to a low-sulphide gold mineralization system, which is currently underexplored. The Drummond Basin is a renowned epithermal gold-silver belt, hosting multiple world-class deposits, such as Pajingo (with gold reserves exceeding 5 million ounces) and Wallaby (with gold reserves exceeding 1 million ounces).

Historical drilling in the Retro Extension area has identified several high-grade ore sections, including: an 8-meter-thick section with a gold grade of 16.1 g/mt, a silver grade of 143 g/mt, a copper content of 5.6%, and a lead content of 7.8%, starting from a depth of 8 meters.

Capella Gold Project in Queensland

The Mount Clement and Capella gold projects in central Queensland recently conducted their first Mineral Resource Estimate (MRE), completed in accordance with the 2012 JORC Code and Guidelines.

Details: The inferred mineral resource estimate for the Ayers Rock and Vintage Extension deposits shows a combined MRE of 63,600 ounces of gold, with a gold grade of 1.13 g/mt. The inferred resources are based on a cut-off grade of 0.6 grams of gold per tonne and are confined to within 100 meters below the surface. The mineralization of the orebody continues to extend deeper.

The Capella Gold Project in Queensland exhibits significant exploration value and development potential. Currently, work related to its geological structure and high-grade ore sections is advancing, and it holds an advantage due to the presence of easily extractable free gold. Multiple high-grade ore occurrences await further drilling verification.

Investment Rationale

Key Information (ASX: A8G)

The company possesses JORC resources in gold and bauxite/titanium, and is expected to have cash reserves exceeding AUD 3.1 million by May 2025. It is a prime candidate for producing high-quality bauxite products, with growing market demand.

Strengths: Strong Fundamentals: High-grade resources, good infrastructure, and market adaptability. Collaboration Potential: Suitable for establishing strategic partnerships and long-term development.

Capital Structure:The capital structure is compact, with only approximately 52 million shares issued. The top 20 shareholders hold over 60% of the shares; there is significant leverage potential upon successful exploration.

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