Which should not pose an issue given the handy $4.1 million in cash it had at 30 June 2014.
It is also looking to upgrade the portion of the existing JORC Inferred Resource to a JORC Indicated / Measured Resource category.
The project has an early stage Inferred Resource of 30 million tonnes of bauxite, out of a project size that could reach 300 million tonnes of bauxite.
The average grade of the bauxite at low temperature leaching is 25.2% available alumina and 6.9% reactive silica.
Although parts of the existing resource returned available alumina results of 32% and reactive silica results at less than 2%, which is a ratio of over 16:1 available alumina to reactive silica.
The South Johnstone tenement covers an area of 400 square kilometres and is situated within 16 kilometres west of the deep water port of Mourilyan in North Queensland.
Handily, there is an existing narrow gauge railway which runs through the tenement to the port of Mourilyan and there is a network of bitumen and gravel roads within the tenement that lead to the port.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.