Annual Report MLN 697 and MLN 698, 1 January 2015 to 31 December 2015

Abstract

No mining or exploration activities were undertaken over MLN 697 and MLN 698 during 2015. Maintenance works undertaken on site include weed management, track and access maintenance, repairs to fencing and general housekeeping. Marketing of barite with the oil and gas explorations companies were undertaken in 2015 with only small amount of interest shown in a bare market. The company was able to establish minor sales with New Park Drilling Fluids and products were sold into exploration operations in the Beetaloo Basin. It is the intension of the new lease holders Micronised Mineral Solutions Pty Ltd to continue marketing of drilling grade barite and calcium carbonate products in 2016 and in particular to achieve greater utilisation of the East Arm based milling facilities. Micronised Mineral Solutions Pty Ltd continue to be registered with Santos Oil and Gas as a supplier via their Achilles system. This procurement system is accessed by a broader group of exploration and oil and gas producers in addition to Santos.