Australian Gold Investments Ltd Reaches Agreement to Acquire Bauxite Projects

Australian Gold Investments Ltd (AGV) is pleased to announce that it has reached binding agreement subject to shareholder approval, to acquire 80% interests in Queensland bauxite projects from Volcan Holdings Inc (Volcan). 

The Company has agreed to acquire 80% of the South Johnstone bauxite province in Queensland and 80% of the Ravenshoe, Ravenshoe East and Atherton bauxite projects in Queensland (the Bauxite Projects), from Volcan a NASDAQ / OTCBB listed company. 

The directors strongly believe in the potential for these Bauxite Projects, and recognise the growing world demand for bauxite capable of producing alumina for the aluminium market. 

The Bauxite Projects are located as close as 18 kms from the Mourilyan Port in a region of excellent infrastructure and power availability, with direct rail link to the main project area.  

To read full announcement click here: 

AGV to Acquire Bauxite Projects (June 2010)

For more information about Volcan please refer to Volcan’s website www.volcan.com.au