minemakers limited: wonarah receives

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http://www.stockhouse.com/news/canadianreleasesdetail.aspx?n=8631595

Minemakers Limited: Wonarah Receives Preliminary Economic Assessment Confirming Economic Potential for Major Fertiliser Production Facility
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TORONTO, ONTARIO -- (Marketwire) -- 10/03/12 -- Minemakers Limited ("Minemakers") (TSX:MAK)(ASX:MAK)(NAMIBIAN:MMS) commissioned the Study by independent consultants on the technical practicality and the economics for the development of Wonarah (Figure 1). The Study has been filed today with Canadian securities regulators.

The Study models the economics of the development of Minemakers' wholly-owned Wonarah deposit and proposed downstream processing facilities to produce superphosphoric acid or N-P fertilisers such as diammonium phosphate ("DAP").

The Study includes mineral resources that are not mineral reserves and do not have demonstrated economic viability. The Study is a preliminary economic assessment and, as such, is preliminary in nature, includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment can be realized.

The consultants are KEMWorks, a Florida-based fertiliser industry consultancy, for the technical aspects, and Optimum Capital, of Australia, for the financial analysis.

While other development routes or combinations will be considered in a future FS, the Study focussed upon two options to produce 1Mtpa of P2O5: