Ann: March Quarterly Activities Report, page-6

I don't think many of us buy and sell MMI on shipping movements but 2 public sources of information on shipping give valuable insight on the performance of the operation and possibly some insight into decision making. Just look at the 2 vessels at berth at Skardon now. One arrived on the 16th of April and is still there. The other arrived on the 29th of April. The quarterly states that loading did not start until the 24th of April. I have always maintained a position that MMI need to stockpile late in the season. All of us that operate on the Cape know that the start of the wet is patchy at best and production should continue into January. The wet has been finishing quite late for a few years now so MMI should be starting mining and production during May rather than April. The mining lease conditions need to be amended to allow for stockpiling adjacent to the barge loading area and say 200-300k tonnes. This allows the loading of 3-4 vessels while production ramps up and the bauxite profile dries out. Now looking at the statement on kaolin I cannot understand the statement about trial mining. Kaolin mining took place at Skardon River on a commercial footing with a full scale treatment plant pre MMI. A large amount of drilling and resource estimation (non JORC) was completed and a number of open cuts are still present. Very large kaolin mining also took place down at Weipa and our former General Manager was involved in that. It is great to see some investigation of the opportunities but please MMI don't treat us like idiots regarding Skardon's kaolin mining and exporting history. There is also quite a stockpile of historically mined kaolin ore that can be bagged and sent to one of the HPA contenders around the county for evaluation.