spoke to andrew drummon this arvo, page-2

so did i Mrs Peel.... i'll paste the email :-)

Hi %$$$$*@,



Thanks for the query.

The 1.95Bt is a global resource estimate for the northern part of the mi9neralization only. That grade of 14.4 per cent is generally in line with the other phosphate mineralised .districts of Australia, namely Incitec’s Phosphate hill, and around Mount Isa at D-Tree and Lady Annie. What we will be doing, as they will or should intend to do, is to concentrate initially on the higher grade and nearer surface mineralized areas such as have been so far defined at our Main Zone. As we said in our release the other day will also be looking at the other prospect further to the South where there appears to be rich mineralisation right at the surface, but with only limited drilling into it to date.

As it is intended that would produce 2-3,000,000 million tonnes of beneficiated product per annum at this stage, then the original 72 to 115 million tones at the Main Zone alone will be sufficient for a 20 to 40 year operation. As to how much of the 1.95 billion tonnes, let alone the additional southern extent of the mineralisation, will eventually prove to be economic remains to be seen and will probably be of academic interest in my lifetime. What I have been hoping to get across to investors is that this deposit has the potential to be a real company maker for Minemakers in that not only appears to have an excellent cash margin forecast at present, but it could be operative for a long while also, and there is potential to increase production considerably should market conditions so warrant in the future. As to whether 14.4% by itself is economic is again irrelevant for the moment because we will be concentrating on those parts of the leases with grades 50% better than that for the first 15 or 20 years.

The other aspect that seems to be getting some investors or potential investors confused is the difference between the regional grade of 14.4% versus the beneficiated grade which is being produced at from Phosphate H. Had to have it to ill, which is at something better than 30%. Our understanding is that their feedstock into the mill is about the same rate as ours is projected to be, namely 23%, and the milling and beneficiation process provides their upgrade to that plus 30% level. The preliminary metallurgical work that was done in the early 2000 s on Wonarah indicates the potential for us to attain similar levels once the test work is completed

With respect to Moina, our Quarterly Report should be coming out next week and will give an update to all shareholders on that project and our others.

Kind regards

Andrew Drummond

Managing Director

MINEMAKERS LIMITED

Level 1, 46 Ord Street

West Perth WA 6005

Ph: +61 08 9264 7000

Fax: +61 08 9264 7099

Mob: 0413 607 067