mine delay

Looks like the finance side of things is causing delays.


From the link posted by vbass

"Mr. Dean Richardson, Investor Relations Manager at Minemakers Limited said the resource updates provide validation that the Wonarah Rock Phosphate Project will have a long minelife, The results are significant because they demonstrate that we have been able to prove that Wonarah can provide up to 10 years of DSO. The Project has a high-grade low contaminant phosphate resource within the deposit, which will allow for low cost production at start up.

Minemakers will commence additional drilling at Wonarah and will complete all necessary steps towards phosphate production by the end of the year, In the first quarter, we expect to complete the Feasibility Study and should receive mining lease approval for Wonarah. Currently we are talking to a lot of potential customers and this should remain ongoing for the first half of the year. Our final decision to mine will be made in the second quarter, Mr. Richardson told the Australian Investor.

He credited Minemakers skilled management for the encouraging results from the Wonarah Rock Phosphate Project, Our Company has outstanding management and directors who are very experienced in mining and geology. We also have a quality resource at Wonarah with excellent access to infrastructure, close to the Darwin-Adelaide railway and Darwin port.

Looking to the future, Mr. Richardson concluded, Our main priority this year is to establish ourselves as a major player in the rock phosphate and phosphate fe products market. We will aim to commence production at Wonarah and will also focus on our marine phosphate project in Namibia. Here we are currently completing the Scoping Study and anticipate a finished Feasibility Study by the end of the year."