Annual report EL 9978 Wonarah Phosphate Project

Abstract

This report covers the work done on EL 9978 in the year to 29th September 2005. This tenement and the adjacent EL's 9976, 9979 and 22168 contain the Wonarah rock phosphate deposits, generally regarded as Australia's largest undeveloped resource of that commodity, and the Arruwurra Prospect some 16 kms distant. Minemakers Australia NL ('Minemakers') has acquired an option over the above mentioned four tenements from their holder, AKD Limited. It has also applied for tenements to gain coverage over the remaining known phosphate mineralisation between the AKD tenements (EL(a)'s 24607 and 24609. Minemakers will acquire the AKD tenements upon listing of its parent, Minemakers Limited, on the ASX. Prior to the beginning of Minemakers' option, AKD's work was confined to unsuccessfully seeking capital to further the investigations at Wonarah. Minemakers and AKD travelled to Darwin and introduced the former to the Executive of DBIRD. A review of the project by the Minemakers Independent Consulting Geologist ('IGR') was undertaken and is presented as an Appendix. Future exploration of EL 9978 will be carried out in conjunction with work on the entire Project area and drillling is proposed.