Ann: Quarterly Activities Report , page-3

A positive report I thought,despite the negative sentiment toward the entire u3o8 sector,the co is keeping to it's time frames.
As for future funding I'm guessing another share placement,the last rights issue wasn't fully taken up and Hanlong picked up the shortfall.We're still in a bear uranium market and will stay there for the short term,so general investors will stay on the side lines.I reckon the co would be seeking out funding from vested interests in u3o8,whether that's Areva or Hanlong or even a new player.

(� Marenica and Hanlong has executed a Memorandum of Understanding (�MOU�) which
encompasses further funding support, development financing, uranium off-take and
support for strategic acquisitions during an exclusive period up to December 2011
� Hanlong is committed to supporting Marenica to become a successful uranium mining
company)

Personally,MA7 is pretty flash

19.4m@ 193ppm eU3O8 from 13.6m in MAR1725
- 10.7m@ 161ppm eU3O8 from 19.3m in MAR1729
- 13.3m@ 195ppm eU3O8 from 12.0m in MAR1734
- 13.1m @ 166ppm eU3O8 from 17.5m in MAR1740
- 10.9m @ 259ppm eU3O8 from 25.6m in MAR1744
- 13.6m@ 201ppm eU3O8 from 17.3m in MAR1775
- 8.4m @ 346ppm eU3O8 from 24.7m in MAR1808
- 8.7m @ 352ppm eU3O8 from 28.0m in MAR1823
- 8.0m @ 352ppm eU3O8 from 33.6m in MAR1825
- 12.7m@ 572ppm eU3O8 from 28.4m in MAR1826
- 16.8m@ 498ppm eU3O8 from 27.0m in MAR1853
- 8.0m @ 547ppm eU3O8 from 16.2m in MAR1867
- 7.7m @ 569ppm eU3O8 from 23.8m in MAR1876
- 16.4m@ 472ppm eU3O8 from 11.4m in MAR1889
- 4.0m @ 1,169ppm eU3O8 from 29.2m in MAR1889

ESP'
12.7m @ 572ppm eU3O8 from 28.4m in MAR1826; 16.8m @ 498ppm eU3O8 from 27.0m in MAR1853; and 16.4m @ 472ppm eU3O8 from 11.4m in MAR1889.

look at the depths of the intersects.Like I mentioned before the revised Jorc figures will be very interesting.And more drilling to be done on MA7.

Now, what do you make of this?It's the first time it's appeared in a company ann'

CORPORATE
The Company continues to evaluate complementary opportunities in uranium and other mineral commodities both within and outside of Africa


Just a teaser or what.