what next, page-2

Irrigator here was the last reply I got,bit guarded as to what he can say





Friday’s announcement, and its timing, was due to continuous disclosure requirements related to the very recent signing of the underwriting agreement and the very recent emergence of the Third Party notice. I cannot divulge the identity of the Third Party at this stage as discussions are actively ongoing and confidential.



As noted in the Listed Options paragraph of the release, there have been substantial option holder concern and questions recently and the Board felt it appropriate to provide guidance into our position.



On the Mt Mulligan access agreement process; this has continued to be extended, however I remain confident of reaching execution. The ongoing delays are due to the Traditional Custodian Parties own internal processes requiring reassessment of the terms to ensure they are acceptable before they sign. Before they agree to setting the final Authorisation (signing) date they must feel totally comfortable with the relationship and the document. The process is now at the point of internal feedback with their legal advisors.



Rgds



Ian Kraemer

Managing Director



Mantle Mining Corporation Limited

Phone: 61 7 3512 7200

Facsimile: 61 7 3367 1867

Mobile: 61 4 0775 8722

E-mail: [email protected]

Suite 1, Level 3, 24 McDougall Street, Milton QLD 4064

PO Box 2071, Toowong BC 4066, Australia