Mineral sands footprint extended at MRG’s Koko Massava project, page-64

Hi Sally

No sandwiches! I was the only shareholder there.

The resolutions were passed very quickly and the 3 directors in attendance gave me the chance to talk with them and ask questions etc.

Very open and good guys would be my assessment. Mark wasn't in attendance as he's in Mozambique.

Nothing earth shattering.

It all about process.

First target is to get the JORC, either inferred or indicated, then market has a basis to compare the value of MRG with other companies.

The performance rights targets for both directors and the companies the project was bought from are the same.

350 million tonne JORC is first. Sale at over a $100 million the next

All the current exploration has been done on the smell of an oily rag. The board are not taking huge salaries. They are heavily invested so are like all other shareholders. They want to limit dilution.

13 targets in the Central and Southern corridors. Prioritized 3. Hit the bulls eye with the first one.

Takes time to get the samples confirmed. Have to dry them. Get approvals from the local government to export. Ship to Perth and then wait for customs clearance and the time to test. Could have used a lab in South Africa but the Perth lab is the best.

All the board are from big company background and no short cuts when dealing with the local villagers and local government in Mozambique.

Mark worked on the Rio discovery there and speaks the language and knows the culture.

In the past few weeks Andrew has been getting approached by interested parties who want to be involved the future

Any progress is always qualified by the statement that until the resource is proven and then they can work on the cost to get the product out they wont know if that have a company or not..

From discovery to mining and having profits typically takes takes 10 years. Many never make it.

HRMmarket follows the growth of the middle class as it’s usable in so manyproducts.

take care David