Annual report for MLS 150 and MLS 151 White Range Project

Abstract

Following the cessation of mining activities the Company has decided to retain the project leases ML's S150 and S151 for both exploration (MLS 150) and aggregate recovery purposes. North Concrete NT Pty Ltd will continue to have access to the MLS site for removal of tailings, sand and mullock over which they hold certain rights. Recently a new Memorandum of an Operator of a Mining Site was forwarded by Intermin on behalf of the new company North Concrete NT Pty Ltd which recently acquired the assets of North Concrete Pty Ltd. Intermin is currently discussing commercial arrangements related to the sale and removal of (-20mm) heap leach scats (-20mm) and +20mm mullock from the lease with North Concrete and a number of other parties. Obviously arrangements entered into in respect of these materials will impact on final rehabilitation measures we can undertake in the short term. Also there has been some discussions with Parks and Wildlife regarding the site. We have been awaiting their written comments and requirements for some time but have not received these as yet.