Wonarah Phosphate, Australia (100% Interest)?? Rock phosphate...

Wonarah Phosphate, Australia (100% Interest)
?? Rock phosphate price continues to rise.
?? Plans are now focussed on maximising the value of this strategic resource for
shareholders, by a full-scale development including beneficiation, downstream
processing to phosphate fertiliser and chemicals, and construction of appropriate freight
infrastructure.
?? The Verte Group??s mandate to secure Asian finance for the full scale development of
Wonarah, has resulted in entry into several confidentiality agreements with prominent
Asian companies in the fertiliser and engineering, procurement and construction
industries, and sovereign development banks.
?? A cornerstone investment in JDCPhosphate Inc has secured exclusive Australian
licensing rights to its patented dry kiln superphosphoric acid production process for up to
seven years: it is likely to be suited to Wonarah ore, and to enable a lower CAPEX and
OPEX entry into downstream processing.
?? Phosphate mineralisation continuity over about a 100km strike length has been
demonstrated by Stage 1 drilling: results indicate likely substantial increases in
resources.
?? In-principle Traditional Owner agreement given to proposed mining operations with
ceremonial signing anticipated during the December Quarter. All other permitting nears
completion.

Sandpiper/Meob Phosphate, Namibia (42.5% Direct Interest and 6.4% Indirect Interest)
?? Significant progress has been made in numerous Scoping Study areas on this extensive
marine deposit.
?? The investigation scope has been expanded, and completion of the Scoping Study is
now anticipated in the December Quarter.
Tasmanian Tin/Tungsten (100% Interest)
?? Tin price has increased strongly over the past 12 months to record levels and the
tungstate price is also increasing. Drill testing of exciting targets for concealed
repetitions of mineralisation near Aberfoyle and Storey??s Creek began in October.

Moina Fluorspar and Polymetallics (Option to acquire an initial 80%)
?? The metallurgical testwork has been initiated and results should be known during the
March Quarter 2011.
BCD Resources NL
?? On 14 October 2010, the Company announced it had loaned funds to BCD Resources
NL (??BCD??), the owner of the Beaconsfield Gold Mine in Tasmania. Subject to BCD
shareholders?? approval, the loans will be converted to equity and Minemakers will
become the major shareholder of BCD.
?? The acquisition is a cornerstone for adding value to the other Tasmanian assets of
Minemakers.

Cash at the end of the Quarter is A$27.9M.

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