nmdc to acquire stakes in 3 mines down under, page-49

another article FYI:

http://au.news.yahoo.com/thewest/business/a/-/wa/9465404/minemakers-flags-talks-with-indians/

Shares in aspiring phosphate miner Minemakers were higher after the company revealed discussions with Indian State-owned NMDC concerning a possible memorandum of understanding over its Northern Territory project.

"Minemakers confirms that it has had confidential discussions with representatives of NMDC about the development of the Wonarah project and has furnished information for the purposes of those discussions," the company said in a statement responding to Indian press speculation.

"Those discussions are continuing."

Minemakers said it had an agreement with resources investment group Verte Group until August 31 covering pre engineering, procurement and construction and EPC Asian investment in the company.

The company is focused on the development of its Wonarah project in the Northern Territory near the Queensland border. It holds an inferred resource of 1.3 billion tonnes at 12 per cent phosphate.

The company also has interests in Namibia and Peru.

Minemakers shares were up 2.5 cents, or 5.95 per cent, to 44.5 cents at 10am.