SUBSTANTIAL INCREASE TO PROJECT RESOURCES AND RESERVES The Board of OM Holdings Limited (“OMH”) is pleased to provide the following update on the Mineral Resource and Ore Reserve estimates for its Bootu Creek Manganese Mine, located in the Northern Territory of Australia. HIGHLIGHTS • Ore Reserves increased by 3.1 million tonnes or 43% to 10.3 million tonnes at 24.5% Mn with significant uplifts achieved at the Chugga South and Tourag deposits. • Mineral Resources (including Ore Reserves) increased by 1.85 million tonnes or 12% to 17.75 million tonnes at 25.7% Mn. • Life of mine plan supports a mine life of 8.5 years at 700,000 tonnes per annum production rate. • Exploration results now vindicate pursuing production expansion opportunities beyond 700,000 tonnes per annum. • Extensive exploration program for 2008 has commenced with at least A$7 million to be dedicated to further extending the mine life and reinforce the operations capability as a world class and long life asset.
OMH Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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