Annual Combined Report GR051/09 EL 23862 and EL 24329 for period 1 April 2018 to 31 March 2019

Abstract

This combined annual report covers EL 23862 and EL 24329 for the period 01 April 2018 to 31 March 2019 for which there is combined reporting status with the reporting date of 30 May 2019. The EL's are located on Melville and Bathurst Islands which form the Tiwi Island group in the Northern Territory (see Figure 1). Due to a continued focus on the Keysbrook Mine (WA) which has been struggling to meet forecast production targets, the primary focus for MZI has been Keysbrook. Desk studies have continued on EL's 23862 and 24329 to assess the economic potential of these tenements and provide benchmarks for target generation. These analyses have been mindful of environmental constraints in the tenements, and have continually considered the additional work required on the tenements to take them up the value curve. An improvement in commodity prices during the reporting period has improved sentiment and the focus on the tenements. Additionally there has been some interest from third parties inquiring about the potential for mining sand for building fill. These opportunities will be further considered in the next period.