Combined annual report on EL 9979, SEL 26451, SEL 26452, EL 26583, EL 26584, EL 26585, EL 26586, EL 26589 and EL 26588, Wonarah Phosphate Project Annual report to 8 January 2009

Abstract

Minemakers Australia Pty Ltd (MAPL) has rapidly advanced the Wonarah Phosphate deposit towards mine development. During the year Minemakers has increased the Wonarah Main Zone resource from 72Mt at 23% P2O5 to 330Mt at 18.9% P2O5 and established a new shallow resource at the nearby Arruwurra prospect of 131 Mt at 18.7% P2O5. Additionally, sub-areas of high grade mineralization or Direct Shipping Ore (DSO) grade have been identified. DSO grade material has the potential to be extracted and marketed with minimal or low beneficiation. The development focus at the end of 2008 and through 2009 is to delineate DSO pits and move quickly towards production. During 2008, MAPL drilled 220 RC holes for 10500 metres for resource definition and 40 diamond cored holes for 1990 metres to provide samples for metallurgical and marketing purposes. Approximately 5000 metres were assayed. A scoping study was implemented which included environmental base-line monitoring, metallurgy, petrology, transport and mine infrastructure planning. MAPL is aiming to have the Wonarah Phosphate Project in production before the end of the next reporting period