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TORONTO, ONTARIO -- (Marketwire) -- 01/31/13 -- Minemakers Limited (TSX: MAK)(ASX: MAK)(NAMIBIAN: MMS)
HIGHLIGHTS
PHOSPHATE, AUSTRALIA
Wonarah Project (Minemakers 100%)
-- Metallurgical testwork for IHP nearing completion.-- Resource position increased and classification improved.-- A new Notice of Intent lodged with the Northern Territory Government.-- Further discussions held with potential, strategic partners.-- JDCPhosphates' demonstration plant in Florida nears completion of construction.PHOSPHATE, NAMIBIASale of Namibian Assets-- Sale of the Company's 42.5% interest in the Sandpiper Phosphate Project and 70% interest in the Rocky Point Project in Namibia to Mawarid Mining LLC for approximately A$25 million was completed.CORPORATE-- On 4 December 2012, Mr Dennis Wilkins resigned as a Director of the Company.-- On 20 December 2012, Mr Ian McCubbing was appointed to the Board as a Non-Executive Director.-- On 31 December 2012, Mr Andrew Drummond moved from Executive Chairman to Non-Executive Chairman. Mr Drummond will continue to provide business development services to the Company due to his deep and unique experience in the phosphate sector.-- Minemakers has free cash of $27.3 million and approximately $2.4 million in tradeable shares of ASX listed companies.
WONARAH ROCK PHOSPHATE PROJECT, NORTHERN TERRITORY
(100% Equity)
To view "Figure 1: Wonarah Locality Map", please visit the following link: http://media3.marketwire.com/docs/Figure1Wonarah.jpg.
INTRODUCTION
The Wonarah rock phosphate deposit is a world class asset, as can be seen by comparison between the project and the published resources of other important production centres, as follows.
----------------------------------------------------------------------------Ma'Aden (Saudi Arabia) +/- 532Mt @ 19.3% P2O5----------------------------------------------------------------------------Bayovar (Peru) +/- 230Mt @ 17.2% P2O5----------------------------------------------------------------------------Wonarah +/- 842Mt @ 18.1% P2O5----------------------------------------------------------------------------Source: Ma'aden Annual Report 2011 Vale Form 20-F Dec 2011
Minemakers aims to take advantage of Wonarah's favourable infrastructure position and political stability to develop a major centre for the production of beneficiated rock and downstream phosphatic fertilisers and/or intermediate products. Wonarah's advantages, apart from its size and grade, include:
-- Bitumen highway access.-- Proximity to a standard gauge railway with spare freight capacity.-- Proximity to a natural gas supply, the pipeline for which closely follows the railway line.-- Access to an established bulk commodity port at Darwin.-- Situated in a stable political jurisdiction.-- Situated on land owned by the Traditional Owners, with whom a life of mine Mining Agreement has been signed which covers mining, processing and fertiliser production.-- Proximity to ample groundwater.-- Proximity to a regional population centre at Tennant Creek.
