MOO 0.00% 0.2¢ monto minerals ltd

water agreement

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    Monto Minerals Ltd
    13 October 2006



    MONTO SIGNS WATER TRANSPORT
    AGREEMENT FOR GOONDICUM PROJECT



    Monto Minerals wholly owned subsidiary, Monto Resources Pty Ltd has entered into
    a Water Transport Agreement with the Queensland Government's SunWater for the
    transport of water to the Goondicum project in central Queensland. SunWater is
    a leading water industry company providing water infrastructure and supply
    services throughout Queensland, Australia and the region.

    Under the Agreement SunWater will build, own and operate a 35km pipeline to
    transport water to the Goondicum project from Monto's bores in the Mulgildie
    Basin to the south of Monto. The pipeline capacity has been designed to meet
    the water needs of the Goondicum project for up to 25 years and will also
    provide supplementary domestic and stock supply for landholders as part of
    compensation agreements. Design detail, survey and procurement activities have
    already commenced and construction of the water pipeline is scheduled for
    completion in late May 2007.

    Announcing the Agreement today, Monto Chief Executive Geoff Moore said that the
    SunWater Agreement was an important milestone in the ongoing development of the
    Goondicum project.

    'Site works at the multi-product Goondicum Industrial Minerals project commenced
    in August this year and construction of the Goondicum processing plant is
    scheduled for completion in April/May 2007. Commissioning of the plant will
    commence upon the delivery of water from the pipeline.'

    Goondicum is scheduled to commence sales of high quality industrial minerals to
    Australian and international customers in the second half of calendar 2007.

 
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