for people following (gme).., page-3

**opinions appreciated** hi guys..

just a quick follow up..

opinions appreciated..

(1) (mre) showed keen interest in purchasing these projects. why would they've put in an offer if they didn't see the financial benefits..

MINARA RESOURCES LIMITED ASX CODE: MRE
16 January 2004
MINARA OFFERS TO ACQUIRE MAJORITY INTEREST IN
NiWEST NICKEL LATERITE RESOURCES
Minara Resources (ASX Code: MRE) announces that it has reached agreement with the
Receivers of Western Metals Copper Limited (WMCL) to purchase WMCL’s 62% majority
interest in NiWest Limited. NiWest Limited is the holder of nickel laterite tenements,
located at 8 separate project areas within close proximity of the Murrin Murrin Nickel Cobalt
project.
The agreement is subject to a pre-emptive right by GME Resources Limited (ASX Code:
GME), the other partner in NiWest (38%). GME have the option of matching/pre-empting
the Minara offer or the option of selling their share at the same price to Minara. The option
periods are for 90 days.
The potential acquisition, on behalf of the Murrin Murrin Joint Venture, involves
consideration paid to NiWest of $2.7million. If GME also sell their share in NiWest the total
outlay by the Joint Venture will be $4.4million.
The NiWest tenements contain total inferred resources of 38.4 million tonnes with a grade
of 1.28% Ni and 0.09% Co (cut-off grade of 1% Ni). Most of the resources are adjacent to
the Murrin Murrin South leases. Further in-fill drilling will be required to confirm the
resource base.
ENDS
For further information contact:
John Quayle, Company Secretary Ph: (08) 9212 8400
Tony Dawe, Ward Holt Corporate Communication Ph: (08) 9221 8722

(2) at some point could we see a joint venture between (gme) and (mre)..

where as (gme) are fee carried on this project..

given they are right next door..

GME RESOURCES LIMITED
Australian Stock Exchange 2 23 January 2004
G:\GME\Announcements2004\ASX-12.Doc:23/1/04
The Board has been encouraged by recent reports on the success that Minara Resources Limited
has achieved with the production from the Murrin Murrin plant, its demonstrated interest in
acquiring NiWest Limited and their stated desire to acquire additional plant feed from third party
sources.
Out of its previously announced inferred resource of approximately 128 million tonnes at 1%
nickel, NiWest Limited has a high-grade inferred resource of 38.4 million tonnes at a 1.3% grade.
The proximity of this higher grade resource to the Murrin Murrin plant means it has the ability to
deliver significant financial advantages for both the Murrin Murrin plant and GME Resources
Limited particularly as the grade differential between the ore feed to the Murrin Murrin plant and
the potential NiWest Limited ore feed increases.
Yours faithfully
NIELS J KROYER
Company Secretary
Enclosure: Appendix 3B.

(3) given the size of the resource could you consider a takeover...???? from (mre)....

(4) no doubt nickel prices will remain on average much high than they were a few years back..

(5) the (gme) projects must look very tempting to (mre)...

comments appreciated..

regards