new ann

Here it is for you holders, sounds like another pos+ ann to me.


21 September 2009
STOCK EXCHANGE ANNOUNCEMENT
BAUXITE UPDATE
Following positive drilling results at Skardon River which has delineated about 50 million
tonnes of in situ bauxite and the receipt of favourable initial reports on engineering and
project economics, Minerals Corporation, (MSC), is pleased to announce the signing of
a formal Joint Venture Agreement with Gulf Alumina Pty Limited, (GAL), whereby both
Parties have agreed respective mining titles for the Kaolin and for the Bauxite. This
arrangement provides for proper support of anticipated project financing by GAL to
commission a Bauxite Processing Facility at Skardon River.
The proposed and agreed dual mining operations provide substantial benefits to both
companies, namely;
• The potential reduction in mining costs per tonne, (both the bauxite and kaolin
layers may be mined as one campaign.
• The potential reduction in shipping costs due to high tonnages of combined
minerals.
• Shared infrastructure costs and services.
• Bauxite Royalty and site service charge out fees for benefit of MSC.