Final report on EL 26394 Wonarah Northern Territory for the period 21 September 2007 to 27 September 2007

Abstract

EL26394 formed part of Minemakers' Wonarah Phosphate Project, located on the Barkly Highway 240km east of Tennant Creek in the Northern Territory, Australia. Minemakers held 100% interest in this tenement. This EL came about from a 'split' of ELA 24607 which originally covered a combination of Aboriginal Freehold Land and NT Freehold Land. EL 26394 subsequently covered the NT Freehold Land only and, following its grant on 21 September 2007 it was incorporated into SEL 26452 which was lodged on 25 September 2007. EL 26394 was surrendered on 27 September 2007. The Wonarah phosphate deposit was purchased by Minemakers from Indo Mines Limited (formerly AKD Limited) in 2006 and Indo retains a 10% vendor claw-back right with respect to ELs 9976, 9978, 9979, 22168 and 24562. The Wonarah Phosphate deposit was discovered in 1967 and the Indo-Rio Tinto joint venture drilled up a rock phosphate resource estimated at a JORC-compliant 72Mt at 23% P2O5 (at a cut off grade of 15%). During the period that the EL was in force (7 days) there was no work carried out by Minemakers.