agm highlights, page-70

Please see below the e-mail I sent to Andrew

Gizard: I didn't ask the question about the hotspot because I wasn't too sure what you meant, and also WRT the marketing manager, I believe you still need one regardless of potential customers "knocking at the door".



Dear Andrew

Unfortunately I could not make the AGM on Wednesday, and after reading some responses from the meeting, I would appreciate some clarification on the following points that I and other shareholders request answers for:

1. Since most of the Wonarah samples have been analysed for P2O5, I assume they were also anlaysed for impurities such as Fe, Mg, Si and Al at the same time, (similar to what POZ did), as it wouldn’t make sense to analyse the samples twice? Therefore what readings were reported on the impurities? Was there any U in the samples? If so, what concentrations?

2. With the proposed bulk handling facility at Tennent Creek, has there been any tenders for this and designs proposed?

3. Is it realistic to assume the NT government can upgrade the port of Darwin by mid to late 2010 when MAK will start mining? Has the NT government given some project time frames for this? As I cannot see how a local government project of that size, which is currently in the conceptualization phase, be completed by mid to late 2010.

4. Legend’s proposed beneficiation plant costs around 228 million, even though we have a smaller operation is it more likely the CAPEX of MAK’s beneficiation plant will be north of 150 million?

5. Is it also necessary to announce the delay of the scoping study to the market?

6. When estimating the potential profit from Wonarah, is it safe to assume that RP prices will be around the US $300-400/mt mark and the AUD will be in the 60 – 70c range to the USD?

7. When the CAPEX, OPEX, and scoping study, are completed, as a share holder representing other concerned shareholders, we would like to be presented with a range of scenarios from the worst case to the best case, which includes RP and currency variations. While many shareholders believe there has been great communication from MAK, they are skeptical about the company is being too optimistic on the potential profits and time frames of the Wonarah project. This issue has been exacerbated by the fact that in the past many juniors have promised to deliver great projects but failed. Providing these scenarios will also help reduce the uncertainty over the project which share holders are experiencing at the moment.

8. Finally, what happened to the metallurgical testing of the samples from Moina, as these were meant to be available by Q1?


Enjoy your weekend, and I look forward to your reply

Regards
Stephen