Ann: Extension to Entitlement Issue , page-6

I4it

MNM holders are being asked to stump up $1.5 million in a highly volatile market.

one of the key reasons we would do so is that on 9/8/10 MNM announced that :

'Mantle and Exergen to execute binding Substantive Agreements;

o an exploration Joint Venture Agreement (JVA), within 1 year,
o a CHTD Technology Licence Agreement (TLA), within 1 year,
o a Mine Development Heads of Agreement (HOA), within 1 year'

It is now 9/8/11. If these JV's have not been executed yet, why not? If they cannot be executed within the next 14 days then MNM needs to explain why, or it is hard to imagine that any great number of shareholders will subscribe to the rights issue. If the subscriptions from holders do not flow in, and there is no other price positive news, intersuisse sound like they will can the raising. This will leave MNM underfunded to pursue their plans, and the SP could retrace to 6c or worse.

If something in the proposed exergen JV deal or the timeline contained in the 9/8/10 ann has materially changed then MNM have a clear obligation to announce that to shareholders that they are inviting to subscribe for more shares.

IK really needs to clarify the position with exergen this week or run the risk of losing the highly valuable support from shareholders they have gained since last August.