yep here it isOZ Minerals to dispose of Menninnie...

yep here it is

OZ Minerals to dispose of Menninnie interest
following global review
Terramin Australia Limited (ASX: TZN) has been informed by OZ Minerals
Limited (“OZ Minerals”) that it will seek to dispose of its 76% interest in the
Menninnie Dam Exploration Joint Venture (“Menninnie JV”).
Terramin CFO, Mr Martin Janes, said the parties are in discussion
regarding near term operation of the project. The Menninnie tenement,
situated on the northern Eyre Peninsula, South Australia has an Inferred
Resource of 3.8 million tonnes at 3.2% Pb, 4.0% Zn and 34g/t silver at a
3.5% Pb+Zn cut-off.
Terramin (24% interest) holds a pre-emptive right to acquire the OZ
Minerals share should a third party make a bid. Terramin also operates the
larger Nonning Joint Venture, adjoining the Menninnie project, with
Minotaur Operations Pty Ltd.
Terramin owned 100% of, and operated, the Menninnie JV until OZ
Minerals (formerly Zinifex) earned its 76% interest by spending $8 million.
Mr Janes commented, “These projects are part of Terramin’s strategic plan
to be a global low-cost zinc producer. However, our immediate focus is on
developing the 2 million tonne per year Tala Hamza mine through 2010,
which will then expand to 4 or 5 million tonnes per year.”
Mr Janes added, ”Our strategy is aimed at rewarding medium and long
term shareholders. Recent broker reports point to target prices three to four
fold current levels for Terramin. Revenues from our Angas mine are ahead
of plan and we will finish Tala Hamza studies early in 2009, so this will
provide a major uplift for the Company in the short term.”
The information in this report that relates to Exploration Results, Mineral Resources
is based on information compiled by Mr. Robert Singer, who is a Member of The
Australasian Institute of Mining and Metallurgy. Mr. Singer is Chief Geologist and
a full time employee of Terramin Australia Limited. Mr. Singer has sufficient
experience that is relevant to the style of mineralization and type of deposit under
consideration and to the activity that he is undertaking to qualify as a Competent
Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting
Exploration Results, Mineral Resources or Ore Reserves’. Mr. Singer consents to
the inclusion in the report of the matters based on his information in the form and
context in which it appears.