Bauxite Resources （ASX: BAU） launched to participate in the bauxite and alumina industries in Western Australia where four of the seven Australian alumina refineries and four of Australia’s bauxite mines are located.
Bauxite Resources （ASX: BAU） received a price and volume 'please explain' from the ASX after a 32% rise in its share price to $0.35 in intra-day trading yesterday, up from $0.265 on the previous trading day.
The company said it is not aware of any information that has not been announced which could explain the sudden interest, but did however state:
'The company is of the view that it has made a number of positive announcemnets over the last month including; the commencement of new CEO and executive director Scott Donaldson, the appointment of John Silby as a non-executive director and the execution of detailed joint venture agreements with Yuangkuang Corporation.'
On January 25 Bauxite Resources and Chinese partner Yankuang Corporation formed a joint venture company to mine bauxite and construct and operate an alumina refinery in Western Australia.
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