Australian Bauxite (ASX:ABX) will undertake a material capital raising and its shares have been voluntarily suspended from trading pending an announcement and details.
The voluntary suspension continue until the earlier of the release of the announcement until Wednesday 26 November 2014.
The company is progressing its Bald Hill project into production in Tasmania. It signed a binding term sheet for 50% of future offtake produced from the project with Noble Group to provide $6 million project finance supported by a $2 million stand by facility.
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