Ann: MRC notice to increase interest in Munglinup Project to 90%, page-72

Hi ChuckSimmo MRC released this announcement in February

To quote them they confirmed the mobile fleet operates in harsh coastal/salt water conditions…Why use seawater if it’s so harmful in the sea environment and then provide oxygen to make matters worse…

Seawater can deteriorate metals up to ten times quicker once exposed to oxygen…No audit no concerns but the breakdowns are starting to stack up…Low on funds and j/v partner with a large having a $10 million loan over the project. (All taken and based on a return to profitability) Where are the mitigation factors of using seawater…? What precautions were taken to minimise its impact?

Okay it’s fine that spid81 bailed cut and ran as the long term effects could far outweigh the perceived benefits…To date new profits have not been realised and look unlikely according to MRC own reporting…

It’s hard to fathom having pre knowledge of these conditions that seawater could be the best option just because it was there and you could see it from the plant…(Spid81 logic) Are we witnessing the early effects of seawater over a freshwater alternative…

They also have advised delays in establishing additional tailings storage capacity…The fleet is aging and either needs replacing or acquiring second hand equipment…

Read that again Quote: They also advised delays in establishing additional storage capacit which stopped production…Does this sound like a planning problem or lack of resources…Or could it be both….? Pg3 gives a nice visionary perspective but right now all eyes and ears will be on marked improvements for production performance YTD and the factors listed impacting YTD performance or the ending may not be what holders like…








Regards Croc