Queensland

• The initial $2.7 million investment by Good Importing International (GII) into ABx3 is being applied to finalise mine planning, environmental and port approvals for the initial direct shipping ore (DSO) program for the Sunrise Bauxite Project.

• Onterris Australia has been appointed as the environmental approvals consultant to deliver the Site-Specific Environmental Authority (SSEA) and Progressive Rehabilitation and Closure Plan (PRCP).

New South Wales

• GII had an exclusive option to invest A$4.8m to acquire a 75% interest in ABx2, which holds the Taralga and Penrose bauxite assets.

• GII has decided to prioritise the advancement of Sunrise, so its exclusive option to invest in ABx2 has expired without being exercised. Therefore ABx retains 100% ownership of the Taralga and Penrose bauxite assets.

• GII continues to regard the Taralga and Penrose bauxite assets as attractive opportunities.

• The A$300,000 option fee paid by GII is non-refundable, with a portion previously used to fund an external due diligence study on the Taralga project.