"In what way do you mean expand Wonorah?"
ASX ANNOUNCEMENT
WONARAH PHOSPHATE PROJECT RESOURCE INCREASE, MINE PLANNING AND COSTS UPDATE
18 December 2008
Testwork is on-going, but results to date are sufficiently encouraging to cause Minemakers to focus its efforts on the potential to produce Direct Shipping Ore as the first marketable product from Wonarah. At a time of difficulty in the world's capital markets, it is preferable to
adopt a low capital and low operating cost strategy, and then to apply early cash flow from the Direct Shipping Ore to a subsequent construction of a beneficiation plant which will be the operation's long term production centre.
This strategy would minimise capital needs and be the least dilutive to Minemakers' current shareholders.
ucl 9 for 1 bid, page-37
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