notice received, what could that be??, page-39

SOME NOTES ABOUT 2013 ANNUAL REPORT BEFORE AGM.

Firstly the good news (the mine itself)(Page7)
Zeta open pit and Plutus open pit were ramped up and continue to trend towards target.
Metal production June Q 2013 12,557t +17% from March and +51% from Dec.
Contained Copper +20% to 5034t
Silver +15% to 213,482oz for June Q

PRICES (Page 10)
30th June, the company had 8,290 T of copper hedged at $US 4.03 WITH A MARKET VALUE OF $17.6M. This represents 55% of copper production until December 2013.

FINANCIAL (Page 10)
Loss of US $224.3M but included an imparement of $205.7m

GOING CONCERN (Page 10)
At 30th June DML was in default of its loan facilities comprising a project Finance Facility of $128.86m (pfa) and a coporate revolving facility (RCF) OF $25M

However the reson for the default, the company failed to maintain.
EBITDA to sales > 35%
Available cash >$20m (Page 99)

Up to now it has met all its repayment obligations, but it has left the company now with no cash!!!

The Company has said it will remain a going concern for the next 12 months

Blumont have goined the share registry with 65m shares at 12c and given company $100m convertable bond which could be converted to shares @15c.

I think we really need their money. Even if we have increased our debt load.

All hinges on the price of Copper. At the moment there is a divergence the DOW JONES going up and and the price of copper going down.

February the US have to sort out their problems lets hope Copper goes up then.

Long term there is still hope but the risks are great!!!