Aziana Limited opens data room for Manantenina Bauxite Project
Aziana Limited (ASX:AZK) has opened an online data room to a third party that could joint venture develop its Manantenina Bauxite Project in Madagascar.
While under the radar to some investors, it shouldn't be as Manantenina offers a number of bauxite riches that a JV partner would salivate over.
Boasting a deposit to date of 10.09 million tonnes at Esama over 6.25 square kilometres, with available alumina of 30-45% and reactive silica of less than 2.5%.
There looks to be significant resource upside to boot, of 120-160 million tonnes which would be attractive to a partner to do the heavy financial lifting to develop a Direct Shipping Ore product from the project.
As is the case with many bauxite deposits, the Indonesian export ban of bauxite has re-heightened interest in Manantenina.
The project hails as the largest undeveloped Indian Ocean based bauxite deposit with an advantageous project location vs West African projects.
Analysis
Aziana is prudently laying off risk looking for a joint venture party for its Manantenina and Antanisoa projects. The sale of its Louisiana oil and gas assets to a neighbour would be a good result.
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