report on activities

Lets see what is inside:



http://stocknessmonster.com/news-history?S=MMN&E=ASX

1.0 HIGHLIGHTS

�� Silver powder production increased 98% to 2,820kg
(approximately 73,000oz contained silver) in the quarter.

46 000oz was it in the last Q


�� A process to upgrade the raw silver powder product was
successfully trialed and commercial treatment of powder
initiated.

�� A contract was awarded for the “stand alone” crushing of
100,000 tonnes of ore to <20mm over about four months as
feed for the existing final stage crusher.

�� A new General Manager, Mr Ian Gibson was appointed and
will be based at the Twin Hills mine. Mr Gibson holds a
Bachelor of Mechanical Engineering, a Master of Business
Management and has over 20 years management
experience.

�� Recent drilling at Mt Gunyan has intersected some zones of
high grade mineralisation, in particular 10m @ 133 g/t silver
including 2m at 427g/t silver.

�� Rock chip samples from the Rivertree (Malachite JV)
tenement returned up to 1,660g/t silver, 8.19g/t gold and
13.55% lead.

�� The entitlements issue offer, dated 20 December 2007,
closed on 20 February 2008. 17,791,943 shares and
8,895,941 free attaching options were issued, raising a total
of $3.55 million.

�� The second and final tranche of Convertible Note funding,
announced on 19 September 2007, of $4,709,669 was
received on 7 February 2008.




2. 0 TEXAS SILVER MINES PTY LTD
The Texas Project (EPMs 8854, 11455, and 12858; ML 5932 and ML 50161) is located 100km west of Stanthorpe. Texas Silver Mines Pty Ltd is a wholly owned subsidiary of Macmin Silver Ltd.


2.1 Twin Hills (ML 50161) - Development & Production Activities Summary (see also update issued 4 April 2008 included in Appendix A)

2.1.1 Silver Production & Sales Silver production increased significantly during the quarter to approximately 73,000oz. Sales of 650kg of powder (17,000oz contained silver) were made
during the quarter.

73.000 0z Silber sind da, bei einem Silberpreis von ca. 18 AUD ist das ein Wert von 1.314.000 AUD

17.000oz wurden verkauft = 306.000 AUD


2.1.2 Improvements to operating procedures and throughput continued in the Crushing Circuit pending the Stage 1 upgrade.

2.1.3 Construction of the components for the first module of Merrill Crowe silver extraction capacity was completed. The components were prepared for shipment to site for erection and commissioning

2.1.4 Electrowinning As noted on 4 April 2008, some cells in the plant have developed excessive electrical resistance and require replacement anodes. One batch of anodes has been received and installed and others are on order. The plant has continued to satisfactorily produce silver powder.

The mine production statistics for the quarter are as follows:

A total of 421,000 tonnes was mined as follows:

• Ore 199,000 tonnes
• Low grade stockpile 84,000 tonnes
• Waste 138,000 tonnes

There is 110,000 tonnes of ore on the stockpile ready for crushing

---------------------------------------------------------

That is to compare from th last Quarter:

The mine production statistics for the quarter are as follows:

A total of 130,000 tonnes was mined as follows:

Ore 59,000 tonnes
Low grade stockpile 8,000 tonnes
Waste 63,000 tonnes

There is 97,000 tonnes of ore on the stockpile ready for crushing.

----------------------------------------------------------


3.0 CURRENT UPDATE
3.1 Crushing

Yesterday the supplier for the first stage upgrade of the crushing circuit (Pac-Rim (Qld)Pty Ltd) advised that as a result of a number of design changes agreed with the Company during construction and “also as a result of acute shortages of appropriate
engineering resources”, the contractor is running behind the original schedule for completion of the plant erection on site.
The contractor now advises that delivery, erection and assembly should commence early June and should be completed by the end of June.
That would be followed by approximately a week of electrical connection work and then commissioning.
The separate contract awarded to another contractor for stand alone crushing of 100,000 tonnes of ore to <20mm will provide additional feed for the final stage of the existing circuit.


3.2 Silver Powder

A further shipment of approximately 1,850kg of silver powder (48,000oz contained silver) will be forwarded to Melbourne this week for upgrading. The total consigned to Melbourne to date for processing is 4,850kg (126,000oz contained silver).

126.000 oz = einen Wert von x 18 AUD = 2.268.000 Mio AUD


The first 1,000kg of powder has been upgraded and will be smelted and then converted to bullion for sale. It is intended that powder which is not sold in raw form direct from the mine will continue to be converted to bullion for sale pending development of markets for the powder.

Who is the buyer and what is hie paying?????



4.0 EXPLORATION
4.1 Mt Gunyan Prospect

The Mt Gunyan prospect is situated within 3km of the Twin Hills Silver Mine, near Texas in South-East Queensland.
Recent drilling has intersected some zones of high grade mineralisation, in particular MGP270 10m at 133g/t silver including 2m at 427g/t silver which has increased the potential of the ‘Northern Pod’ mineralisation. The ‘Northern Pod’ is also open to the east and to depth, and on going drilling will target extensions in these areas.

Results from drilling undertaken in 2007 and 2008 along with historical drilling results will be used to construct a resource model and allow an updated resource estimate to be calculated. It is anticipated that this resource estimate (for the shallow mineralisation) will be completed during the July-September quarter.


4.2 Boonoo Boonoo Project

Macmin has decided to drop this project from the Malachite joint venture. In the coming months Macmin will complete all statutory requirements (report writing, environmental
audit, etc) as required and pass this information to Malachite (along with all data) as they are the registered holder of the EL. The tenement is currently in good standing.


4.4 Rivertree Project

Follow up drainage and rock chip sampling undertaken in the newly identified region located in the south-west of the tenement (where an earlier stream sediment sample returned a very anomalous result of 256ppb gold) has returned encouraging results.
One drainage sample up stream from the ‘discovery’ sample has returned an anomalous value of 55ppb gold, while a rock chip sample collected from within this drainage system has returned a best result of 969g/t silver and 0.34g/t gold.

A program of ridge and spur soil sampling and rock chip sampling has been completed in the north-east portion of the tenement, primarily focusing within the area between and around the known workings of Big Block and The Philippines. The ridge and spur
sampling has identified a zone approximately 350m wide associated with some of Philippines workings (Figure 1), outlining an area approximately 700m long and 350m wide where further exploration, probably including drilling needs to be undertaken.

Rock chip samples collected as part of this programme have identified a new region, where there are no historic workings, located to the west of The Philippines workings and to the north-east of the Big Block workings. Two rock chip samples (100271 and 100272) have returned anomalous gold and silver values with a best gold result of 2.48g/t and a best silver result of 671g/t. Further follow-up of this new area will be undertaken in the near future.


4.5 Tally Ho Prospect


The following information was presented in an ASX release yesterday.



5.0 CORPORATE


The entitlements issue offer, dated 20 December 2007, closed on 20 February 2008. 17,791,943 shares and 8,895,941 free attaching options were issued, raising a total of $3.55 million.
No directors have any Macmin shares exposed by way of margin accounts or financing arrangements.

The second and final tranche of Convertible Note funding, announced on 19 September 2007, of $4,709,669 was received on 7 February 2008.


6.0 INVESTMENTS

Macmin maintains equity investments in the following public companies with exposure to the precious and base metals sectors. Information and releases about these companies’ activities can
be found on each company’s website.

Company Shares Market Value
31 Mar 2008

New Guinea Gold Corporation (TSX) www.newguineagold.ca 17,847,020 $7,999,253

Malachite Resources NL www.malachite.com.au 1,500,000 $270,000

Frontier Resources Ltd www.frontierresources.com.au 5,425,000 $569,625

Hier hat sich nix geändert im Vergleich zum letzten Q


Non-cash financing and investing activities

2.1 Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows.

2.2 Details of outlays made by other entities to establish or increase their shares in projects in which the reporting entity has an interest.
Appendix 5B Page 2

During the quarter 5 million share options valued at $257,000 were issued to YA Global Investments, L.P. of New York USA as part of the costs for a $US 9 million convertible note issue. Each option is convertible into one share at an exercise price of $0.48.