quarterly report analysis, page-8

I know everything is concentrated in getting Wonarah Phosphate up and going but wouldnt it be beneficial for MAK to spend a few dollars and see what the other leases have to offer
MOINA PROJECT, TASMANIA
FLUORSPAR, MAGNETITE, TUNGSTEN, TIN, ZINC AND BASE METALS
At the start of 2009, Minemakers completed a large diameter diamond drilling programme to
obtain fresh core samples for detailed metallurgical assessment. The programme was
deferred while the metallurgical staff were fully devoted to the Wonarah Project, but the
assaying testwork was completed during the Quarter.
Minemakers is very enthusiastic about this project because of the potential size of the
deposit. Although resources were estimated historically, these pre-dated the JORC Code
and can no longer be quoted. Nonetheless, it is evident that the mineralisation is very
extensive and potentially could sustain a high output operation for a long period. Assuming
satisfactory metallurgical recovery can be demonstrated, Minemakers has the potential to
become a world class producer of fluorspar, tungsten and bismuth, and also a significant
producer of tin and magnetite from this Moina deposit.
The Company has appointed a world class fluorspar consultant to oversee the metallurgical
appraisal. He has advised that, based on its apparent size potential, Moina may well be the
largest undeveloped fluorspar deposit in the world. The metallurgical testwork programme
will be initiated after his site visit next month
FRASER MAGNETITE IRON ORE PROJECT (80% and/or 100% Equity)
The East Frankland tenement (Minemakers 100% Equity) has not previously been drilled.
The key importance of it is that the eastern end of the magnetic target lies only about 10km
from the Perth-Albany railway line. Successful exploration of this tenement could potentially
lead to a mining and export situation with a very much reduced capital requirement because
there would be a simple and cheap way of transporting an unbeneficiated magnetite product
to the port of Albany for export