Annual Report ML 30230 and ML 30231 18 February 2015 to 17 February 2016

Abstract

No mining or exploration acitivities were undertaken over ML's 30230, 30231 during 2015. Maintenance works undertaken on site include weed management, track and access maintenance, tidy up and maintenance of lease markers. 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 operationsin 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.