firsova, page-98

Who Is the AL 80 Partner ? I am confused .

I had always thought from the forum , that "Impex " was a major business , and not the start up business I originally assumed it was from the June 15 announcment .

That it was possbly Kingston Impex the global , it was also clear from another press release that said the delays were complete outside MHM control , yet now , MHM are more expert at the Impex business than Impex themselves .

From Company update 23/12

Impex Metals .

MHM has made significant progress in the finalisation of customs paperwork .
relating to export of AL80, Alreco’s aluminium oxide product. The delays are a bureaucratic matter and completely unrelated to the desire of the end user to
purchase the product. Impex Metals, Alreco’s contract partner for export of the material, had been assuming responsibility for managing finalisation of customs documentation. However, Alreco has now assumed responsibility for this and has invested considerable resources to expedite the process. The company remains highly confident of resolving the issue.

From the original announcment June 15 2011

Impex Minerals Pty Ltd ( a start up business )

MHM’s wholly-owned subsidiary, Alreco Pty Ltd, has signed a contract with Impex Minerals Pty Ltd for the off
take of its aluminium oxide product, AL80. The minimum monthly volume under the contract is 1,500 tonnes
and there is no upper limit to the amount MHM can sell to Impex.
While the details of the contract are commercial in confidence .

From another article

Impex Minerals Privae limited

MHM wholly owned subsidiary, Alreco Private Limited has signed a contract with Impex Minerals Private Limited for the off take of its aluminum oxide product, AL80. The minimum monthly volume under the contract is 1,500 tonnes and there is no upper limit to the amount MHM can sell to Impex.

While the details of the contract are commercial in confidence, the financial terms are consistent with MHM’s previously announced future annual earnings target of USD 8.5 million EBITDA for the Australian aluminum division. This target includes a provision for AL80 pricing which is now confirmed.