About Us
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Cape Alumina was formed on 2 February, 2004 to explore for metallurgical bauxite resources in Queensland. The company expanded its interest into Cape York on 8 March, 2004 and changed its name to Cape Alumina Pty Ltd on 23 February, 2005 reflecting the shift in primary focus to western Cape York. Cape Alumina then set about securing key untenured areas of potential bauxite mineralisation in western Cape York. A funding arrangement between Metallica Minerals and Anegada Metals Corporation was agreed on 20 May, 2005 to advance the project. On 11 November 2008, Cape Alumina opened its Initial Public Offer, which presented the public with a unique opportunity to invest in Australia's leading pure-play bauxite company. Despite the tumultuous climate arising from the global financial crisis, the IPO was a success after raising approximately $15 million. It closed on 20 January 2009 resulting in the issuing of 30 million shares at $0.50c per share. Cape Alumina attracted 500 new shareholders, who are mainly Queensland-based. Cape Alumina listed on the ASX on 29 January, 2009. In addition to the public-held shares, major shareholders in Cape Alumina include ASX-listed Metallica Minerals Limited (MLM 33%), Chiping Xinfa Huayu Alumina Co Ltd (Xinfa 18.6%) China's largest independent alumina-aluminium company and Resource Capital Fund, a respected, resources focused private equity firm. Cape Alumina has identified seven priority bauxite exploration areas but has as yet drilled only one of these - focusing its attention on one of Australia's largest undeveloped export-quality bauxite resources at Pisolite Hills, situated 50km NE of Weipa. The company is evaluating this project for development of a greenfield mine and export operation. Cape Alumina intends to systematically assess it's remaining exploration areas over the next two years. |
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