Proactiveinvestors Australia Avenira Ltd https://www.proactiveinvestors.com.au Proactiveinvestors Australia Avenira Ltd RSS feed en Mon, 27 May 2019 01:44:07 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[Media files - Avenira Ltd to publish results of feasibility study on Baobab project 'within weeks' ]]> https://www.proactiveinvestors.com.au/companies/stocktube/11375/avenira-ltd-to-publish-results-of-feasibility-study-on-baobab-project-within-weeks--11375.html Thu, 29 Nov 2018 14:58:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/11375/avenira-ltd-to-publish-results-of-feasibility-study-on-baobab-project-within-weeks--11375.html <![CDATA[News - Avenira receives exploitation permit for Baobab Phosphate Project in Senegal ]]> https://www.proactiveinvestors.com.au/companies/news/207523/avenira-receives-exploitation-permit-for-baobab-phosphate-project-in-senegal-207523.html Avenira Ltd (ASX:AEV) has been granted an exploitation permit by the Government of Senegal for the Gadde Bissik area within its Baobab Phosphate Project.

The permit was received by Avenira's 80%-owned subsidiary Baobab Mining and Chemicals Corporation SA and covers an area of 75 square kilometres around the former Gadde Bissik Small Mine.

Granting of the permit is a major step in Avenira's Baobab feasibility study which is expected to be complete in the December 2018 quarter.

'Permit underpins all future steps'

Avenira managing director & CEO Louis Calvarin said the grant of the exploitation permit was a milestone for the company's Baobab expansion and upgrade investment project.

"Receiving the permit underpins all future steps including funding the project implementation and increases our company's feasibility study momentum."

The permit will trigger a restructure in Avenira's subsidiary with the Senegalese government holding a 10% free-carried interest in the legal entity owning the permit and the new structure will be exempt from paying certain taxes.

Substantial mineral resource

A Senegalese exploitation licence is granted for a maximum initial duration of five years and is renewable for one or more periods of a maximum of five years each until depletion of the deposit.

This differs from a five to 25-year mining concession which is reserved for deposits containing substantial proven reserves and requiring large investments for development .

The permit area's indicated mineral resource is estimated at 41.8 million tonnes at 19.4% phosphate and the inferred mineral resource within the permit area is estimated at 247 million tonnes at 16% phosphate.

The indicated and inferred mineral resources within the permit area represent 99% of the Boabab's total estimated indicated mineral resource and 77% of the total estimated inferred mineral resource.

 

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Mon, 22 Oct 2018 01:53:00 +1100 https://www.proactiveinvestors.com.au/companies/news/207523/avenira-receives-exploitation-permit-for-baobab-phosphate-project-in-senegal-207523.html
<![CDATA[News - Avenira reveals upgraded phosphorus resource in Senegal ]]> https://www.proactiveinvestors.com.au/companies/news/185506/avenira-reveals-upgraded-phosphorus-resource-in-senegal-185506.html Avenira Ltd’s (ASX:AEV) revised estimate has confirmed a significant increase in the resource tonnage at the Baobab Phosphate Project in the Republic of Senegal.

The new indicated resource tonnage increased by 11% to 34.9 million tonnes at 20.7% phosphorus at Gadde Bissik East, part of the wider Baobab Phosphate Project.

The company plans to use the existing infrastructure and a simple, well established mining and processing method at the project.

Importantly, Avenira has non-binding offtake agreements exceeding its planned annual production.

The increase in tonnage will substantially raise the confidence with which the company can develop its operations and market products to offtake partners.

Avenira has also updated the total inferred resource at Baobab to 156 million tonnes at 18% phosphorus.

The Baobab Project area covers a total of circa 1,553 square kilometres.

Within the Baobab Project area, the Gadde Bissik prospect of about 90 square kilometres was identified during the excavation of water wells in the 1950’s.

Earlier this year, the company secured an $8.8 million finance facility to assist with the final stages of commissioning and ramp-up of the Baobab Phosphate Project.

The mining permit was granted for Baobab in May 2015, and Avenira subsequently acquired 100% of the project from Agrifos in September 2015.

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Fri, 13 Oct 2017 08:50:00 +1100 https://www.proactiveinvestors.com.au/companies/news/185506/avenira-reveals-upgraded-phosphorus-resource-in-senegal-185506.html
<![CDATA[News - Avenira upgrades resources, gets ready for first phosphate shipment ]]> https://www.proactiveinvestors.com.au/companies/news/174079/avenira-upgrades-resources-gets-ready-for-first-phosphate-shipment-174079.html Avenira (ASX:AEV) has released an upgraded indicated resource for its Baobab Phosphate Project in the Republic of Senegal, potentially increasing the longevity of the project.

The indicated resource tonnage increased by 150% to an estimate of 31.7 million tonnes at 20.6% phosphorus at Gadde Bissik East, part of the wider Baobab Phosphate Project.

The increase in tonnage will substantially raise the confidence with which Avenira can develop its operations and market products to offtake partners.

Incidentally, the first shipment of the Baobab product is expected from the port of Dakar this month.

Avenira has also updated the total inferred resource at Baobab to 114 million tonnes at 19% phosphorus.

The Baobab Project area covers a total of about 1,553 square kilometres.

Within the Baobab Project area, the Gadde Bissik prospect of about 90 square kilometres was identified during excavation of water wells in the 1950’s.

Avenira has managed the exploration of the Gadde Bissik area since early 2014, building up a comprehensive knowledge of the Baobab Project and its potential.

A maiden indicated resource estimate was announced by the company in December 2015 and mining activities commenced within the Small Mine Permit in March 2016.

Avenira’s exploration drilling aimed at testing the extensions east of Gadde Bissik towards Gad Escale is ongoing and further drilling is planned for Q2 2017.

Earlier this year, the company secured a $8.8 million finance facility to assist with the final stages of commissioning and ramp-up of the Baobab Phosphate Project.

Avenira’s shares were last trading 6.4% higher intra-day, at $0.10.

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Thu, 02 Mar 2017 10:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/174079/avenira-upgrades-resources-gets-ready-for-first-phosphate-shipment-174079.html
<![CDATA[News - Avenira secures $8.8M facility to kick off phosphate production ]]> https://www.proactiveinvestors.com.au/companies/news/171510/avenira-secures-88m-facility-to-kick-off-phosphate-production-171510.html The funding includes working capital facility of about A$4.4 million at an interest rate of 6.75% for 5 years, with no principal or interest repayments for the first 12 months.

Avenira will also have access to an additional $4.4 million to finance export receivables, if required.

The company has already drawn down on the working capital facility.

Avenira has secured the facility through CBAO Groupe Attijariwafa Bank.

The commissioning and ramp-up of Baobab is continuing, with the first shipment of phosphate product expected in Q1 2017.

Avenira’s strategy is to develop the project based on an initial stage 1 operation producing 500,000 tonnes per annum of phosphate product, with later stages allowing for production expansion.

The company’s 80% owned project contains an indicated resource of 12.6 million tonnes at 21% phosphate, at a cut-off grade of 15% phosphate.

Avenira’s share price has increased by about 28.5% since the beginning of this year, last trading at $0.135.

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Thu, 12 Jan 2017 13:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/171510/avenira-secures-88m-facility-to-kick-off-phosphate-production-171510.html
<![CDATA[News - Avenira Ltd trucks first batch of phosphate from Baobab project ]]> https://www.proactiveinvestors.com.au/companies/news/166804/avenira-ltd-trucks-first-batch-of-phosphate-from-baobab-project-71319.html Avenira Ltd (ASX:AEV) has achieved an important milestone at the Baobab Phosphate Project in Senegal with the first trucking of phosphate product to the Port of Dakar.

Avenira’s strategy to develop the project is based on an initial stage 1 operation producing 500,000 tonnes per annum of phosphate product, with later stages allowing for production expansion.

The company’s 80% owned Baobab project contains an indicated resource of 12.6 million tonnes at 21% phosphate, at 15% phosphate cut-off grade.

The project is now moving into steady‐state operations phase, with appropriate procedures and protocols in place.

Importantly, Avenira has signed offtake contracts with Polyserve Import Export and Trade, Getax Agrifert DMCC and Actatrade SA in July and August 2016.

The combined offtake agreements account for between 360,000 and 480,000 tonnes per annum of production for the first three years, representing almost all of the expected annual production.

Avenira’s share price has increased by 86% since the beginning of 2016, last trading at $0.205.



Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 03 Oct 2016 12:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/166804/avenira-ltd-trucks-first-batch-of-phosphate-from-baobab-project-71319.html
<![CDATA[News - Avenira Ltd to start phosphate production at Senegal project in weeks ]]> https://www.proactiveinvestors.com.au/companies/news/163715/avenira-ltd-to-start-phosphate-production-at-senegal-project-in-weeks-70241.html Avenira Ltd (ASX:AEV) is only weeks away from production at the Baobab Phosphate Project in Senegal, after commencing water commissioning of the wet screening plant.

The company's strategy is to develop the project based on an initial Stage 1 operation producing 500,000 tonnes per annum of phosphate concentrate.

Interestingly, supply agreements have already been signed with two international fertiliser companies for exporting more than half of the anticipated annual production.

Avenira’s 80% owned Baobab project contains an indicated resource of 12.6 million tonnes at 21% P2O5 at 15% P2O5 cut-off grade.

The company’s mining activity has recently reached the phosphate mineralisation zone.

The mineralisation exposed is consistent with the geological model derived from sampling, air core and diamond drill logging, and it is expected that primary grade control will be visual.

The mined mineralisation is now being stockpiled on the ‘run of mine’ stockpile adjacent to the processing facilities.

Over the coming weeks, mining and grade control methodology will be optimised to maximise mining efficiency, while minimising dilution and any mineralisation loss.

The Baobab Phosphate Project has been designed to enable multiple stages of expansion across the project.

The total capital expenditure to production for the fully funded project is $US15 million.

Avenira had a cash balance of $24.5 million as on 30 June 2016.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 04 Aug 2016 11:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/163715/avenira-ltd-to-start-phosphate-production-at-senegal-project-in-weeks-70241.html
<![CDATA[News - Avenira Ltd secures first export offtake for Senegal rock phosphate ]]> https://www.proactiveinvestors.com.au/companies/news/132785/avenira-ltd-secures-first-export-offtake-for-senegal-rock-phosphate-69984.html Avenira Ltd (ASX:AEV) has signed the first set of supply agreements with two international fertiliser companies for exporting rock phosphate from the Baobab Phosphate Project in Senegal.

Avenira’s 80% owned Baobab project contains an indicated resource of 12.6 million tonnes at 21% P2O5 at 15% P2O5 cut-off grade.

The development of the project is well advanced with mining activities currently underway. The production of first rock phosphate is scheduled during the second half of 2016.

Under the three-year offtake agreements with Actatrade SA and Getax Agrifert DMCC, the buyers will initially purchase between 240,000 and 360,000 metric tonnes per annum of rock phosphate.

This represents more than half of the anticipated annual production.

The product will be delivered from the port of Dakar, with offtake pricing to be based on the global market price for equivalent rock phosphate product and set for semi-annual periods.

By securing these agreements, Avenira has demonstrated the market’s confidence in the Baobab Project’s ability to produce and deliver a desirable product.

Avenira is currently engaged with a number of other parties on further offtake arrangements set to cover the balance of planned annual production.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 22 Jul 2016 14:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/132785/avenira-ltd-secures-first-export-offtake-for-senegal-rock-phosphate-69984.html
<![CDATA[News - Minemakers notes no change to production at JDCPhosphate’s IHP demonstration plant in Florida ]]> https://www.proactiveinvestors.com.au/companies/news/132784/minemakers-notes-no-change-to-production-at-jdcphosphates-ihp-demonstration-plant-in-florida-47730.html Minemakers (ASX/TSX: MAK) has revealed there is no material change for production to commence at JDCPhosphate’s IHP Demonstration Plant at Fort Meade, Florida.

In fact, the IHP Demonstration plant is making steady progress according to JDCPhosphate as the commissioning phase is evolved.

There had not been any problems that eroded confidence to execute a safe and successful startup in the near term the company said.

The first acid production utilising the Improved Hard Process is expected from JDCPhosphate's demonstration plant in September. Minemakers holds a 6.3% equity interest in JDCPhosphate.

Rock phosphate is the raw material used in the manufacture of most commercial phosphate fertilizers on the market.

 

 

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 09 Sep 2013 13:50:00 +1000 https://www.proactiveinvestors.com.au/companies/news/132784/minemakers-notes-no-change-to-production-at-jdcphosphates-ihp-demonstration-plant-in-florida-47730.html
<![CDATA[News - Minemakers Limited's shares on a tear as phosphate interests attract investors ]]> https://www.proactiveinvestors.com.au/companies/news/132783/minemakers-limiteds-shares-on-a-tear-as-phosphate-interests-attract-investors-47716.html Minemakers Limited (ASX: MAK) has been receiving some strong investor interest recently, with shares in the company rising 16% to $0.145 on high volume on Friday.

Minemakers stock is now up more than 50% from the lows in June.

The company is focused on the wholly-owned Wonarah phosphate project in the Northern Territory, which is the largest known phosphate deposit in Australia.

Highlighting the upside potential of the project, only 15% of the known mineralisation has been sufficiently drilled to enable a resource estimate to be defined.

Minemakers is aiming to leverage off existing available infrastructure to develop a major centre for the production of superphosphoric acid.

The first acid production utilising the Improved Hard Process is expected from JDCPhosphate's demonstration plant in September. Minemakers holds a 6.3% equity interest in JDCPhosphate.

Infrastructure includes access to an established bulk commodity port at Darwin, and proximity to a standard gauge railway with spare freight capacity, natural gas supply and ground water.

There is also Northern Territory Government support and designation as a major project.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 09 Sep 2013 11:10:00 +1000 https://www.proactiveinvestors.com.au/companies/news/132783/minemakers-limiteds-shares-on-a-tear-as-phosphate-interests-attract-investors-47716.html
<![CDATA[News - Minemakers to divulge news of strategic fertiliser investor ]]> https://www.proactiveinvestors.com.au/companies/news/132782/minemakers-to-divulge-news-of-strategic-fertiliser-investor-41471.html Minemakers (ASX: MAK) is preparing to reveal details of the introduction of a strategic fertiliser investor, with the company granted a trading halt by the ASX today.

The company has been seeking potential project partners for the Wonarah Rock Phosphate Project to provide technical input, support in financing and an offtake deal.

A Bankable Feasibility Study is underway at Wonarah, which considers two technical options for the project’s development – the traditional wet acid process and the IHP kiln based patented technology, owned by Florida’s JDCPhosphate.

The BFS will update, extend and/or validate earlier studies and initiate new studies for aspects of the project that were not required in earlier evaluations, such as tailings storage

Minemakers expects to reach a technical decision on the development route for the project in mid-2013.

The company has cash backing of around 81%, or $0.117 per share, of its current market cap. of A$33.9 million and share price of $0.14 with free cash of A$27.3 million at the end of December 2012.

The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Thursday 4th April 2013.
 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 02 Apr 2013 15:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/132782/minemakers-to-divulge-news-of-strategic-fertiliser-investor-41471.html
<![CDATA[News - Minemakers pockets A$25M from sale of Namibian phosphate interests ]]> https://www.proactiveinvestors.com.au/companies/news/132781/minemakers-pockets-a25m-from-sale-of-namibian-phosphate-interests--37246.html Minemakers (ASX: MAK, TSX: MAK, NSX: MMS) has completed the sale of its Namibian phosphate interests to Mawarid Mining, which has netted the company A$25 million.

The company has sold its 42.5% interest in the Sandpiper Phosphate Project and 70% interest in the Rocky Point Project in Namibia.

The completion of the sale marks the end of various unsuccessful attempts to consolidate the ownership of the Sandpiper Project, which was held in joint venture with UCL Resources.

Both companies were 42.5% shareholders in Namibian Marine Phosphate, a joint venture company that owns the Sandpiper Project.

Minemakers will still retain exposure to the project through its 14.2% shareholding in UCL.

The company will now focus on its wholly owned Wonarah Project, Australia’s largest known rock phosphate deposit.

Minemakers aims to develop the project into a vertically integrated fertiliser production operation.

The funds raised from the sale of the Namibian assets will provide Minemakers with financing flexibility for development of Wonarah.

The company is currently in the process of seeking a suitable joint venture partner to co-fund a Bankable Feasibility Study at Wonarah and facilitate the securing of development funding.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 12 Dec 2012 16:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/132781/minemakers-pockets-a25m-from-sale-of-namibian-phosphate-interests--37246.html
<![CDATA[News - Minemakers catapulted onto investors’ radars ]]> https://www.proactiveinvestors.com.au/companies/news/132780/minemakers-catapulted-onto-investors-radars-36461.html Minemakers (ASX: MAK) has attracted some investor attention of late with shares hitting an intra-day high of A$0.21 today, marking a 35% increase over the closing price of shares on Monday 19 November.

The increase has prompted a price and volume query from the ASX, with just over 890,000 shares traded by the closing bell.

Minemakers responded to the ASX saying it is not aware of any material information that has not been disclosed to the market, which may explain the sudden investor interest.

The company was recently the subject of a failed takeover attempt by joint venture partner UCL Resources.

UCL revealed in October its takeover offer had lapsed and it did not acquire any shares in Minemakers.

Both companies were 42.5% shareholders in Namibian Marine Phosphate, a joint venture company that owns the Sandpiper Marine Phosphate Project.

However, Minemakers has inked a share sale agreement with Mawarid Mining to exit its Namibian interests for around $25 million.

The agreement covers the company’s interests in the Sandpiper and Rocky Point Projects.

Minemakers said while Sandpiper represented an attractive medium-term development opportunity for the company, the ownership structure was not conducive to the efficient development and financing of the project.

Meanwhile, the company is advancing a Bankable Feasibility Study for its wholly owned Wonarah Rock Phosphate Project in the Northern Territory.

The study is investigating two technical options for Wonarah’s development – the traditional wet acid process and the IHP kiln based patented technology.

The study is an extension of the work that was undertaken for the direct shipping ore Feasibility Study in 2010.

Minemakers is also in ongoing discussions with potential strategic investors for Wonarah.


Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

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Tue, 27 Nov 2012 17:40:00 +1100 https://www.proactiveinvestors.com.au/companies/news/132780/minemakers-catapulted-onto-investors-radars-36461.html
<![CDATA[News - Minemakers responds to press speculation regarding NMDC Limited ]]> https://www.proactiveinvestors.com.au/companies/news/132779/minemakers-responds-to-press-speculation-regarding-nmdc-limited-26591.html Minemakers (ASX: MAK, TSX: MAK) has clarified its position regarding press speculation on the NMDC, by releasing a statement to the ASX, which is as follows:

'Minemakers Limited notes recent press speculation regarding its discussions with NMDC Limited. Minemakers is aware of recent media reports originating out of India indicating that NMDC is “now set to buy the Wonarah rock phosphate reserves of Minemakers for about $15 million”.

In these reports, NMDC’s Chairman-cum-Managing Director, Mr NK Nanda is quoted as saying “NMDC will complete the acquisition of the rock phosphate asset in Australia by the end of next month.”

Minemakers can confirm that it remains in ongoing discussions with NMDC. In these discussions NMDC has very recently made it clear that it continues to have a strong interest in the Wonarah Project.

However, Minemakers wishes to clarify that discussions to date with NMDC have been conducted on the basis of NMDC acquiring a 50% stake in the Wonarah Project for a consideration which includes a cash component materially higher than the reported $15 million.

In addition, no definitive timetable has yet been established for completion of the Joint Venture Agreement with NMDC, although Minemakers remains committed to working towards an agreement as soon as possible.

 

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Mon, 19 Mar 2012 11:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/132779/minemakers-responds-to-press-speculation-regarding-nmdc-limited-26591.html
<![CDATA[News - Minemakers takes next step in UCL Resources takeover ]]> https://www.proactiveinvestors.com.au/companies/news/132778/minemakers-takes-next-step-in-ucl-resources-takeover-25899.html Minemakers (ASX: MAK, TSX: MAK, NSX: MMS) has released its bidder’s statement in the proposed takeover of the company’s joint venture partner in the Sandpiper marine phosphate project in Namibia UCL Resources (ASX: UCL).

The company believes that combining the two entities will place them in a better position to secure competitive project financing, accelerate development and unlock the potential value of the Sandpiper Project.

The First Supplementary Bidder’s Statement has been lodged with the Australian Securities and Investments Commission and sent to UCL.

Minemakers is offering nine of its shares for every 10 UCL shares held, implying a value of A$0.302 per UCL share, based on Minemakers’ closing share price of $0.335 per share on the last day of trading prior to the announcement of the offer.

The offer represents a 59.7% premium to UCL’s last closing price prior to the offer of $0.19 per share, and a 51.5% premium to the 3-month volume weighted average price of $0.199 per UCL share.

Minemakers currently owns about 10.59 million shares in UCL, representing 13.1% of the total shares on issue.

Both Minemakers and UCL are 42.5% shareholders in Namibian Marine Phosphate, the joint venture company that owns the Sandpiper Project.

The two companies are progressing a Definitive Feasibility Study at the project, which is expected to be completed by the end of the March quarter.

Sandpiper Resource upgrade

Yesterday Minemakers announced an upgrade to the JORC Resource at Sandpiper, based on a recently completed resource development program of gravity core sampling.

The upgrade included the initial delineation of a Measured Resource of 4.1 million tonnes at 20.45% phosphate.

In addition, the Indicated Resource at Sandpiper increased to 220.3 million tonnes at 20.13% phosphate, from 73.9 million tonnes at 20.57% phosphate.

The Sandpiper Project covers an area of 8 kilometres by 20 kilometres, with the recent sampling work carried out on the northern half.

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Thu, 01 Mar 2012 16:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/132778/minemakers-takes-next-step-in-ucl-resources-takeover-25899.html
<![CDATA[News - Minemakers: Cash increases to $14 million after final loan repayment ]]> https://www.proactiveinvestors.com.au/companies/news/132777/minemakers-cash-increases-to-14-million-after-final-loan-repayment-25390.html Minemakers (ASX: MAK) has received the final repayment of its loan to BCD Resources (ASX: BCD) along with accrued interest, completing the redemption of the convertible notes issued in February 2011.

The company received the final payment of $2.66 million for the $8.5 million loan this week.

Minemakers advanced the loan to BCD in November 2010, giving it a potential control position of BCD which owns the producing Tasmania Gold Mine at Beaconsfield.

Subsequently, a decision was made for the loan to be transferred to convertible notes bearing a 20% per annum interest coupon.

Repayment of the loan plus interest increases Minemakers’ available cash to about $14 million.

The company plans to invest this in progressing its phosphate projects in Namibia and Australia.

Minemakers will be presenting at the Proactive Investors One2One Forum being held in Perth on Wednesday 29th February 2012 at the Hyatt Regency Perth.

Click http://www.proactiveinvestors.com.au/register/event_details/40 to register.

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Thu, 16 Feb 2012 13:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/132777/minemakers-cash-increases-to-14-million-after-final-loan-repayment-25390.html
<![CDATA[News - Minemakers eyes takeover of UCL Resources ]]> https://www.proactiveinvestors.com.au/companies/news/132776/minemakers-eyes-takeover-of-ucl-resources--25225.html Minemakers (ASX: MAK, TSX: MAK, NSX: MMS) has launched an off-market takeover bid for its joint venture partner in the Sandpiper marine phosphate project in Namibia, UCL Resources (ASX: UCL).

Under the offer, UCL shareholders will receive nine Minemakers shares for every 10 UCL shares held, implying a value of A$0.302 per UCL share, based on Minemakers’ closing share price of $0.335 per share on 10 February 2012.

The offer represents a 59.7% premium to UCL’s last closing price of $0.19 per share on 10 February 2012 and a 51.5% premium to the 3-month volume weighted average price of $0.199 per UCL share on 10 February 2012.

Minemakers currently owns about 10.59 million shares in UCL, representing 13.1% of the total shares on issue.

Both companies are 42.5% shareholders in Namibian Marine Phosphate, a joint venture company that owns the Sandpiper Project.

Minemakers believes the larger combined entity will be better placed to secure competitive project financing, accelerate development and unlock the potential value of the Sandpiper Project.

Currently, the Sandpiper Project has a JORC Resource of 1.95 million tonnes at 18.5% phosphate, using a 10% cut-off.

The joint venture partners are progressing a Definitive Feasibility Study, which is expected to be completed by the end of the March quarter.

Minemakers will be presenting at the Proactive Investors One2One Forum being held in Perth on Wednesday 29th February 2012 at the Hyatt Regency Perth.

Click http://www.proactiveinvestors.com.au/register/event_details/40 to register.

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Mon, 13 Feb 2012 12:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/132776/minemakers-eyes-takeover-of-ucl-resources--25225.html
<![CDATA[News - Minemakers shares soar 20% on acquisition reports ]]> https://www.proactiveinvestors.com.au/companies/news/132775/minemakers-shares-soar-20-on-acquisition-reports-24852.html Minemakers (ASX: MAK) shares jumped about 20% today, following media reports that major Indian company NMDC has plans to acquire the company’s Wonarah rock phosphate reserves.

Legacy Iron Ore (ASX: LCY) has also recently reported that due diligence is underway to finalise negotiations on Minemakers' Wonarah phosphate project and Atlas Mining's (ASX: AGO) Ridley iron ore project.

Shares in Legacy Iron Ore were also 10.34% higher at lunchtime at $0.16.

NMDC recently acquired a 50% holding in Legacy Iron Ore.

Minemakers today confirmed discussions with representatives of NMDC regarding the development of the Wonarah Project, however it said no commercial outcome had been agreed.

Shares in Minemakers reached a high of $0.355 today, before dropping back to the $0.33 mark – still a 17.86% improvement on Thursday’s closing price of $0.28.

NMDC finance director S. Thiagarajan has reportedly said NMDC plans to take up a 50% stake in Wonarah.

The proposed acquisition is part of A$800 million of capital expenditure planned by NMDC over the coming months, as the company seeks to acquire overseas mineral resources.

In its quarterly report, released on January 31, Minemakers said negotiations regarding a joint venture with NMDC for the Wonarah projece were proceeding slower than anticipated.



Wonarah is located in the Northern Territory and hosts a Resource of almost 800 million tonnes at more than 18% phosphate, with a 10% cut-off grade.

The share price jump earned Minemakers a speeding ticket from the ASX. The company responded citing the talks with NMDC, the recently released quarterly report and generally strong upward movement of the phosphate sector this morning.

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Fri, 03 Feb 2012 13:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/132775/minemakers-shares-soar-20-on-acquisition-reports-24852.html
<![CDATA[News - Minemakers economic study highlights viability of Wonarah phosphate project, NMDC talks to resume ]]> https://www.proactiveinvestors.com.au/companies/news/132774/minemakers-economic-study-highlights-viability-of-wonarah-phosphate-project-nmdc-talks-to-resume-22623.html Minemakers (ASX: MAK) has released an independent study showing economic potential for the company’s  Wonarah deposit and proposed fertiliser production facility, as well it will resume talks with NMDC on a JV in December.

The study, completed by independent fertiliser industry consultants KEMWorks, and financial analysis from Optimum Capital, showed net present values of about $2 billion and reasonable rates of return.

Minemakers plans to develop a processing facility to produce superphosphoric acid or N-P fertilisers such as diammonium phosphate.

This enabling study focused on two processes for producing phosphate; the improved hard process and the wet acid process.

It indicated that the improved hard process could produce 1.4 million tonnes per annum of 70% superphosphoric acid, while the conventional wet acid process would produce 2 million tonnes per annum of monoammonium and diammonium phosphate.

Importantly, this study shows that the expenditure required for a full Bankable Feasibility Study (BFS) is justified.

This is expected to begin upon completion of a joint venture agreement with India’s largest mining company NMDC, with negotiations to resume in early December.

The two development options examined in the enabling study require the mining of 6-7 million tonnes per annum, with larger operations or the production of additional commercial output to be examined in the BFS.

One aspect to be examined in the BFS is the economic impact of Minemakers constructing its own ammonia plant using the gas supply available at Tennant Creek.

This could increase capital expenditure but reduce operating costs and insulate the project from variances in ammonia prices.

The possibility of producing exportable beneficiated phosphate rock from slurried material will also be investigated.

Wonarah Project

Wonarah has a large phosphate mineralisation base, estimated at about 800 million tonnes at beneficiation plant grade and open along strike.

An 82 hole drilling program carried out earlier this year increased Indicated and Inferred resources at Wonarah.

Indicated Resources increased to 303 million tonnes at 18.2% phosphate, from 289 million tonnes at 18.5% phosphate, while Inferred Resources reached 479 million tonnes at 18% phosphate, up from 331 million tonnes from 17% phosphate.

The project is strategically located in the Georgina Basin with strong supporting infrastructure and less than 300 kilometres from the north-south Darwin-Adelaide standard gauge railway.

Wonarah also benefits from significant Traditional Owner, Central Land Council and Northern Territory Government support.

Rising rock phosphate prices and NMDC

Rock phosphate prices have risen throughout 2011. Prices of phosphate rock stood at $197.5 per tonne in September, unchanged for a second consecutive month after posting a 41 percent increase from January to July.

This would not have escaped the attention of India's NMDC as it has said it is on the lookout for acquisitions in Australia.  The resumption of talks with NMDC in December are extremely bullish for Minemakers with the economic study under its belt.

NMDC recently announced a plan to become a cornerstone investor in Legacy Iron Ore (ASX: LCY).

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Mon, 28 Nov 2011 10:04:00 +1100 https://www.proactiveinvestors.com.au/companies/news/132774/minemakers-economic-study-highlights-viability-of-wonarah-phosphate-project-nmdc-talks-to-resume-22623.html
<![CDATA[News - Minemakers raises ASX eyebrows after 10% share spike ]]> https://www.proactiveinvestors.com.au/companies/news/132773/minemakers-raises-asx-eyebrows-after-10-share-spike-16619.html Minemakers (ASX: MAK) has received an ASX price and volume query after the company’s shares jumped 10% to an intra-day high of $0.52 on 26 May, up from $0.47 on 25 May.

The company said it is not aware of any material information that has not been announced to the market that may explain the sudden investor interest.

However, Minemakers confirms that it is continuing confidential discussions with representatives of the Indian Government's wholly-owned public enterprise the National Mineral Development Corporation (NMDC) about the development of the Wonorah Project.

Once an outcome is reached, the company will provide information to the market in compliance with its continuous disclosure obligations.

Wonarah is Australia's largest undeveloped rock phosphate project averaging about 20% P2O5, and is strategically located in the Georgina Basin with strong supporting infrastructure and less than 300 kilometres from the north-south Darwin-Adelaide standard gauge railway.

Wonarah project also benefits from significant Traditional Owner, Central Land Council and Northern Territory Government support.

 

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Thu, 26 May 2011 14:06:00 +1000 https://www.proactiveinvestors.com.au/companies/news/132773/minemakers-raises-asx-eyebrows-after-10-share-spike-16619.html
<![CDATA[News - Minemakers dry kiln process could offer lower cost option for Wonarah phosphate ]]> https://www.proactiveinvestors.com.au/companies/news/132772/minemakers-dry-kiln-process-could-offer-lower-cost-option-for-wonarah-phosphate-14657.html Minemakers (ASX: MAK) is 'very encouraged' by the testwork results for phosphorus recovery using the patented dry kiln process, rather than the conventional sulphuric acid wet technique.

Testwork by JDCPhosphate Inc in Florida has been undertaken on expected run-of-mine phosphatic product from the Wonarah Rock Phosphate project, averaging about 20% P2O5.

Minemakers said about 15% of the known extent of phosphate mineralisation has been sufficiently drilled, enabling a resource estimation.

At a 10% cut-off, an estimated; 289 million tonnes at 18.5% P2O5 Indicated Resource and 331 million tonnes at 17% P2O5 Inferred Resource, for a total of 620 million tonnes at an average 18% P2O5.

These resource estimates are both JORC and NI43-101 compliant.

Wonarah is Australia's largest undeveloped rock phosphate project, strategically located in the Georgina Basin with strong supporting infrastructure and less than 300 kilometres from the north-south Darwin-Adelaide standard gauge railway.

Wonarah project also benefits from significant Traditional Owner, Central Land Council and Northern Territory Government support.

The company's project has been granted Government Major Project Status, the only rock phosphate development with this status in Australia.

 

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Tue, 15 Mar 2011 09:20:00 +1100 https://www.proactiveinvestors.com.au/companies/news/132772/minemakers-dry-kiln-process-could-offer-lower-cost-option-for-wonarah-phosphate-14657.html
<![CDATA[News - Minemakers lodges priority applications for new tin projects in Tasmania ]]> https://www.proactiveinvestors.com.au/companies/news/132771/minemakers-lodges-priority-applications-for-new-tin-projects-in-tasmania-13759.html Minemakers (ASX: MAK) has lodged priority applications over the Ringarooma Bay alluvial tin deposits in north east Tasmania through a wholly owned subsidiary.

Minemakers TTT Pty Ltd, which is intended to be the subject of a demerger, IPO and ASX listing as TNT Mines Limited later this year, is planning to explore for an estimated 26,000 tonnes of contained tin metal.

The acquisition of this large tin resource is likely to become one of the more significant projects in Minemakers TTT's portfolio of tin and other mineral assets.

The grant of the two applications is unlikely to be coincident, but is expected later in 2011. Once the tenements are granted the company can enjoy robust global demand for tin.

Supply constraints have been driving tin prices higher. The metal used in electrical solder hit an all-time high yesterday at $31,395 a tonne after Indonesia's state-owned PT Timah, the world's largest integrated tin miner, said refined production fell 10 percent last year.

Previous explorers of these alluvial tin deposits estimated Inferred resources as 194 cubic metres (m³) at 150-250g per cubic metre of cassiterite, including Indicated resources 16m³ at 227g per cubic metre of cassiterite.

The resource estimates are based on shallow drilling which did not attain the basal wash zone containing the highest grades. Deeper testing should increase both volume and grades.

The evaluation of the Ringarooma Bay project will be supervised by Minemakers' marine evaluation team.

Historically, about 40,000 tonnes of tin concentrates have been produced by alluvial mining operations in the Ringarooma Valley and about 4,000 tonnes were produced onshore and proximal to the Minemakers marine applications.

Minemakers TTT Pty Ltd has priority in its application for two tenements in Ringarooma Bay and which cover the identified main target zone.

ELA4/2011 of approximately 51 square kilometres is a Tasmanian application and will extend from low water mark to the three mile limit.

The second application T11 MEL of approximately 24 square kilometres lies beyond that three mile limit, and is in Commonwealth waters.

TNT Mines Limited will undertake a full mining and economic evaluation of this extensive body of mineralisation with funds raised from the IPO.

Future mining is likely to be by some variety of dredging operation, with processing to be carried out on shore.

The management team which is undertaking the marine phosphate evaluation in offshore Namibia will be made available to TNT Mines Limited by Minemakers.

The team, and its JV partners, have recently and successfully completed an extended Scoping Study there, have found an initial estimated JORC compliant 1.6Bt of phosphate sediments and have embarked on a full Feasibility Study.

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Tue, 08 Feb 2011 11:50:00 +1100 https://www.proactiveinvestors.com.au/companies/news/132771/minemakers-lodges-priority-applications-for-new-tin-projects-in-tasmania-13759.html
<![CDATA[News - Minemakers and Clancy Exploration JV target tin-lead-silver in Tasmania ]]> https://www.proactiveinvestors.com.au/companies/news/132770/minemakers-and-clancy-exploration-jv-target-tin-lead-silver-in-tasmania-12798.html Targeting tin-lead-silver in the north-west of Tasmania, Minemakers (ASX: MAK) and Clancy Exploration (ASX: CLY) have formed a joint venture, over two exploration licences.

Identifying the potential of the area, the Waratah tenement surrounds, but does not include, the Mount Bischoff mine, which has past production of 10.5 million tonnes at 1.1% tin.

The new tenements contain the historic Oonah tin-lead-silver mine and the Montana silver-lead mine.

The Minemakers wholly owned subsidiary TNT Mines is in the joint venture with Clancy, with TNT set to be spun-off by Minemakers into an IPO.

Minemakers announced its intention to offer TNT Mines in an IPO in November 2010, with an aim to raise A$10 million, with 40% of the shares in the listed company to be distributed in specie to Minemakers’ shareholders.

Under the new joint venture, TNT can earn a 75% equity by meeting exploration commitments in 2011, after which Clancy can elect to co-contribute proportional to equity, dilute, or sell its 25% share for $100,000 for each tenement.

 

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Wed, 05 Jan 2011 13:45:00 +1100 https://www.proactiveinvestors.com.au/companies/news/132770/minemakers-and-clancy-exploration-jv-target-tin-lead-silver-in-tasmania-12798.html
<![CDATA[News - Minemakers' Tasmanian assets to be spun off and listed as TNT Mines Ltd ]]> https://www.proactiveinvestors.com.au/companies/news/132769/minemakers-tasmanian-assets-to-be-spun-off-and-listed-as-tnt-mines-ltd-11975.html With tin, tungsten and fluorspar at near record prices, Minemakers (ASX: MAK) will spin off its wholly owned subsidiary, Minemakers TTT Pty Ltd, as TNT Mines Limited in an IPO aimed to raise A$10 million.

The subsidiary company wholly owns mineral tenements covering all major historic hard rock producing tin and tungsten centres of North East Tasmania.

The tenements contain the major historic tin and tungsten mines of Aberfoyle and Storey’s Creek, the Lutwyche tin/tungsten deposit, the Anchor tin mine, the Royal George tin mine and the Great Pyramid tin deposit.

Various exploration targets based on outcropping mineralization and geophysical surveys are also included.

Andrew Drummond, Minemakers’ managing director, said “we have been looking for some time to unlock value for our shareholders in some of our non-phosphate assets, which tend to be overshadowed by the magnitude of our phosphate resources and potential.

"The spin-off is intended to allow shareholders to gain a more direct exposure to the very exciting tin, tungsten and fluorspar sectors,” he added.

Minemakers' Moina deposit is understood to be the largest undeveloped fluorspar deposit in the world and is associated with tin, tungsten, bismuth and magnetite.

There will be an in specie distribution of TNT shares to Minemakers’ shareholders and they will enjoy a preferred position in applications for new shares in the IPO.

This is likely to be on a 1 for 5 basis and involve about 50 million shares. The remaining 20% of shares upon listing will be held by Minemakers.

Intersuisse will be lead broker to the issue.

The wholly owned subsidiary, Minemakers (Moina) Pty Ltd has an option to acquire an initial 80% of the tenement containing the Moina fluorspar and polymetallic deposit. TNT Limited will acquire Minemakers (Moina) Pty Ltd and its assets.

Based on historic work, Minemakers has set an exploration target of 40-60mt at  17–20% fluorspar, 18–22% magnetite, 0.1–0.15 tin, 0.07–0.15% tungsten, and 350– 450ppm bismuth.

The company intends to be in a position to seek a listing of TNT in the first quarter of 2011.

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Wed, 24 Nov 2010 12:37:00 +1100 https://www.proactiveinvestors.com.au/companies/news/132769/minemakers-tasmanian-assets-to-be-spun-off-and-listed-as-tnt-mines-ltd-11975.html
<![CDATA[News - Minemakers A$8.5m loan to BCD Resources to remain in place on renegotiated terms ]]> https://www.proactiveinvestors.com.au/companies/news/132768/minemakers-a85m-loan-to-bcd-resources-to-remain-in-place-on-renegotiated-terms-11907.html BCD Resources (ASX: BCD) has restructured its existing $8.5 million loan with Minemakers (ASX: MAK), and received additional loans of $6.1 million from a group of new investors.

The restructured and new funding arrangements differ from previous arrangements in that all the funds have been received by BCD and draw downs at the lenders’ discretion are not being relied upon by BCD.

Under the agreed restructured arrangements are the following conditions:

- Minemakers will not advance any more of the original Minemakers $15 million facility, limiting the Minemakers loan to the current $8.5 million;
- Replacement loans of $6.1 million have been provided by new investors, including some existing BCD shareholders and the principal mining contractor at the Tasmania Mine, Nigel Webb; and
- The company will seek to raise additional loans from new investors, up to a maximum of $3.9 million, on the same terms.

Denis Clarke, chairman of BCD, said "The restructured and new funding arrangements represent the best achievable outcome for BCD shareholders in extraordinarily difficult circumstances.

"Over a period of approximately one month, if BCD had been unable to resolve its short-term funding requirements, the company would have been faced with the prospect of receivership on two separate occasions – in both cases, the likely outcome of receivership would have been the complete destruction of shareholder value."

Under the new funding arrangements, BCD shareholders can retain exposure, albeit diluted, to the potential upside at the annual 60,000 gold ounce Tasmania Mine, as the gold price continues to trade near record highs.

 

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Mon, 22 Nov 2010 13:18:00 +1100 https://www.proactiveinvestors.com.au/companies/news/132768/minemakers-a85m-loan-to-bcd-resources-to-remain-in-place-on-renegotiated-terms-11907.html
<![CDATA[News - Minemakers agrees to restructure loan to BCD Resources ]]> https://www.proactiveinvestors.com.au/companies/news/132767/minemakers-agrees-to-restructure-loan-to-bcd-resources-11816.html Minemakers' (ASX: MAK) subsidiary, Minemakers (Gold) Pty Ltd (MGPL), has reached agreement with BCD Resources (ASX: BCD) regarding the restructure of the arrangements under its loan agreement to BCD, limiting it to the $8.5 million already advanced.

It is subject to approval by BCD shareholders in general meeting (to be convened in early 2011), and MGPL’s Loan will be converted to a 12 month Secured Convertible Note.

The convertible note will provide for the issue to MGPL of 850,000,000 notes, each convertible to one fully paid ordinary share in BCD within 12 months at MGPL’s election or, if not converted, they will be redeemed by BCD for $8.5 million plus interest at 20% per annum.

MGPL’s Loan and the convertible note will be secured by a first ranking fixed and floating charge over substantially all of the assets of the BCD Group.

Andrew Drummond, Minemakers’ managing director, said “we are pleased that BCD has been able to secure additional working capital and we have been able to restructure our arrangements on a satisfactory basis which includes maintaining Minemakers’ position as first ranking secured creditor over substantially all of the assets of the BCD Group.”
 
“We are optimistic that operations at BCD’s Tasmania Mine will be returned to a profitable trading position in early 2011, with subsequent strong cashflows expected at the Tasmania Mine with the commencement of stoping in the Western Zone,” he added.

BCD has advised Minemakers that it has today entered into agreements with other parties whereby additional loan funds of not less than $6.1 million and not more than $10.0 million will be provided to BCD on substantially the same terms as MGPL’s loan including conversion to a 12 month convertible note (except as to security which will rank in priority behind MGPL).

The Minemakers and BCD agreed restructured arrangements are conditional upon the Additional Loan Funds being received by BCD on or before Friday, 19 November 2010 and the BCD Board being restructured to comprise present directors Dr Denis Clarke, Messrs Mike Trumbull and Kevin Perrin, new appointee Mr Nigel Webb and two Minemakers Limited nominees.

Pending satisfaction of these conditions, Minemakers has agreed to extend the current standstill arrangement until 5pm Perth time on Friday, 19 November 2010.

If the agreed restructured arrangements are fully implemented and MGPL converts all its notes into BCD shares then, depending on the extent of the Additional Loan Funds, Minemakers will hold in the order of 40 to 45% of the issued share capital of BCD.

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Thu, 18 Nov 2010 11:02:00 +1100 https://www.proactiveinvestors.com.au/companies/news/132767/minemakers-agrees-to-restructure-loan-to-bcd-resources-11816.html
<![CDATA[News - Minemakers and Union Resources lodge Namibian phosphate JV application ]]> https://www.proactiveinvestors.com.au/companies/news/132766/minemakers-and-union-resources-lodge-namibian-phosphate-jv-application-11736.html A mining licence application has been lodged for the Sandpiper/Meob Phosphate Project in Namibia, by Namibian Marine Phosphates (Pty) Limited, which is a joint venture owned 42.5% by Minemakers (ASX: MAK) and Union Resources (ASX: UCL), with Tungeni Investments holding the 15% balance.

The targeted resource is a submarine phosphate deposit occurring 60 km offshore from the Namibian coast, with a 1.58 billion dry tonnes resource at 18.8% P2O5 included in the application.

The scoping study base cash over the first 25 years of the project includes; 3 million tonnes of saleable rock phosphate per annum, with a $144 million in capital costs for the first three years.

Union considers the resource to be potentially easy to beneficiate with simple screening to remove shells and cyclone to remove fines to produce feedstock for a standard PA plant.

 

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Tue, 16 Nov 2010 08:39:00 +1100 https://www.proactiveinvestors.com.au/companies/news/132766/minemakers-and-union-resources-lodge-namibian-phosphate-jv-application-11736.html
<![CDATA[News - Minemakers in trading halt pending loan facility announcement ]]> https://www.proactiveinvestors.com.au/companies/news/132765/minemakers-in-trading-halt-pending-loan-facility-announcement-11482.html Minemakers (ASX: MAK) has requested a trading halt pending release of an announcement about regarding the $15 million loan facility between the company and BCD Resources (ASX: BCD).

The halt will last until an announcement is made or commencement of trading on Wednesday 10th November 2010.

Minemakers is stepping up its Namibian phosphate thrust with the transfer of seven Exclusive Prospecting Licences to the Joint Venture company Namibian Marine Phosphate (Pty) Ltd, along with the renewal of EPL3323 for a further period of two years to June 2012.

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Mon, 08 Nov 2010 09:57:00 +1100 https://www.proactiveinvestors.com.au/companies/news/132765/minemakers-in-trading-halt-pending-loan-facility-announcement-11482.html
<![CDATA[News - Minemakers steps up pace in Namibia aiming to be new force in rock phosphate ]]> https://www.proactiveinvestors.com.au/companies/news/132764/minemakers-steps-up-pace-in-namibia-aiming-to-be-new-force-in-rock-phosphate-11142.html Minemakers (ASX: MAK) is stepping up its Namibian phosphate thrust with the transfer of seven Exclusive Prospecting Licences to the Joint Venture company Namibian Marine Phosphate (Pty) Ltd, along with the renewal of EPL3323 for a further period of two years to June 2012.

The Sandpiper / Meob JV Project in Namibia has a combined JV area of 7,000km2 covering core of previously identified mineralised areas. A simple beneficiation process could treat the ore onshore at Walvis Bay.

Sandpiper / Meob JV has a large footprint with a Indicated Resource estimate of 74Mt @ 20.6% P2O5.  current Inferred Resource estimate is 1,507Mt @ 18.7% P2O5.  Total Indicated and Inferred estimate is 1,581Mt @ 18.7% P2O5. 

Signficantly, and as a future pointer for upside, resources were estimated for only the top 2m: deeper testing now underway will increase the resources.

Minemakers’ 42.5% direct equity share is currently ~670Mt @ 18.8%, in both categories.

NMP is in the process of submitting its application for a Mining Licence covering the area containing the defined Indicated and Inferred Mineral Resource in EPLs 3414, 3415 and 3323.

The EPL transfers were completed in compliance with the terms of the shareholders agreement signed 30 June 2010 between the JV partners, MAK, Union Resources (ASX: UCL), and Tungeni Investments cc. 

All original licence documents have been endorsed accordingly by the Ministry of Mines and Energy, Namibia.

These developments show the progress being made in the development of the Sandpiper Meob Phosphate Project in Namibia as a top priority for the JV partners.

Minemakers acquired its direct equity in the Sandpiper/Meob Joint Venture (JV) phosphate project in offshore Namibia via the acquisition in July 2009 of Bonaparte Diamonds Mines NL.

The Company has two phosphate projects in Namibia, the Sandpiper/Meob JV Project and the Rocky Point Project.

The Sandpiper/Meob JV Project is a JV between Minemakers (42.5%) and Union Resources Limited and a Namibian owned company Tungeni Investments cc., which has a JORC Compliant Resource of 1,507Mt @ 18.7% P2O5.

Minemakers is aiming to become a new world force in rock phosphate.

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Tue, 26 Oct 2010 13:11:00 +1100 https://www.proactiveinvestors.com.au/companies/news/132764/minemakers-steps-up-pace-in-namibia-aiming-to-be-new-force-in-rock-phosphate-11142.html
<![CDATA[News - BCD Resources in a trading halt, Bendigo merger off, A$15m funding from Minemakers ]]> https://www.proactiveinvestors.com.au/companies/news/132763/bcd-resources-in-a-trading-halt-bendigo-merger-off-a15m-funding-from-minemakers-10820.html The proposed merger between Bendigo Mining (ASX: BDG) and gold producer BCD Resources (ASX: BCD) will no longer proceed, with BCD instead entering into a A$15 million funding facility with Minemakers (ASX: MAK).

Under the agreement with Minemakers, BCD shareholders will be asked to approve the conversion of the Minemakers debt to equity in BCD at $0.02 per share.

Following the conversion, Minemakers would own 64% of BCD and existing BCD shareholders would retain a 36% interest, with BCD’s balance sheet improved by $15 million.

It is anticipated that a general meeting of BCD shareholders will be called to approve the debt to equity conversion within 30 days.

If the conversion is not approved by BCD shareholders, the Minemakers debt would become repayable within 90 days of the meeting.

BCD was due to merge with Bendigo, with Bendigo informing BCD that the Notice of Potential Default under the Bendigo Loan Agreement that it served on BCD on 6 October would stand, and that Bendigo declined to discuss or negotiate further on alternative arrangements.

Effectively, BCD was faced with the requirement to raise substantial funds within three days to avoid the prospect of receivership.

Funds were required to pay back the $5 million drawn down, replace the $3 million balance of the Bendigo facility and to provide additional working capital.

In the company's opinion, receivership was likely to have resulted in complete destruction of shareholder value.

The severe time frame, and the limited number of potential funding providers, made raising funds virtually impossible.

Fortunately, it was possible to arrange the facility with Minemakers, albeit at a low price for debt:equity conversion, to ensure the corporate survival of BCD and the retention of shareholder value.

It also ensured operations at the Tasmania Mine would be able to continue as normal, whereas receivership may have resulted in closure of the mine and the sale of the asset at distressed prices.

The first drawdown of $8 million under the new funding facility with Minemakers gave BCD the capacity to repay the Bendigo loan in full and a settlement deed was signed with Bendigo late on 13 October.

BCD has invited Neville Bergin, the Minemakers general manager – projects development, to join the board of directors.

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Thu, 14 Oct 2010 11:22:00 +1100 https://www.proactiveinvestors.com.au/companies/news/132763/bcd-resources-in-a-trading-halt-bendigo-merger-off-a15m-funding-from-minemakers-10820.html
<![CDATA[News - Minemakers in a trading halt pending acquisition announcement ]]> https://www.proactiveinvestors.com.au/companies/news/132762/minemakers-in-a-trading-halt-pending-acquisition-announcement-10773.html A trading halt has been granted by the ASX to the Western Australia based Minemakers (ASX: MAK), pending an announcement, '... regarding a transaction possibly involving the acquisition of an interest in another company'.

Minemakers is currently developing the 100% owned Wonarah rock phosphate project in the Northern Territory, with a JORC inferred resource of 1,258Mt @ 12% P2O5, which underpins Wonarah's long life mine potential and makes Wonarah Australia's largest JORC compliant rock phosphate deposit.

Wonarah is also the only Australian rock phosphate project granted government Major Project status, with traditional owner and stakeholder support.

The company has also recently completed a positive feasibility study for its DSO operations, and the first bulk sampling operation to provide product to potential customers.

A second major phosphate deposit is the Namibian Marine phosphate project in Southern Africa (42.5%), which has a JORC resource of 1,507Mt @ 18.7% P2O5.

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Wed, 13 Oct 2010 09:26:00 +1100 https://www.proactiveinvestors.com.au/companies/news/132762/minemakers-in-a-trading-halt-pending-acquisition-announcement-10773.html
<![CDATA[News - Minemakers reaches key agreement with traditional owners on Wonarah Rock Phosphate ]]> https://www.proactiveinvestors.com.au/companies/news/132761/minemakers-reaches-key-agreement-with-traditional-owners-on-wonarah-rock-phosphate-9972.html
Minemakers(ASX: MAK) has reached an in-principle agreement with the traditional owners in the Wunarra Community regarding phosphate deposits, with the terms to be included in the Mining Agreement.

The final agreement though is subject to completion of legal drafting and sign off by the Directors of the Arruwurra Aboriginal Corporation and the Central Land Council (CLC).

The terms of the Agreement are commercial-in-confidence, but generally conform to the agreements between industry and Traditional Owners as are negotiated in the Northern Territory.

Final legal drafting is in progress and is subject to sign off by the directors of the Arruwurra Aboriginal Corporation and the CLC. This is expected to occur by the end of 2010.

Andrew Drummond, managing director for Minemakers, said, "This is a wonderful step forward for the Company, the Wonarah Project and the Traditional Owners."

"There has been great enthusiasm and goodwill displayed by all sides since Minemakers began its field efforts in early 2008."

"The assistance and cooperation of the CLC is warmly acknowledged in guiding the Agreement negotiations to the final outcome."

"The relatively short time taken to conclude this Agreement attests to the enthusiasm of all sides and their legal counsels.”

Whilst the Agreement is structured to accommodate direct shipping ore production in the first instance, the document anticipates future development of the project and provides mechanisms that are flexible enough to deal with changes in future production scenarios such as beneficiation plants and phosphoric acid plant.

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Mon, 13 Sep 2010 11:15:00 +1000 https://www.proactiveinvestors.com.au/companies/news/132761/minemakers-reaches-key-agreement-with-traditional-owners-on-wonarah-rock-phosphate-9972.html
<![CDATA[News - Minemakers encouraged by test work results at Namibia phosphate project ]]> https://www.proactiveinvestors.com.au/companies/news/132760/minemakers-encouraged-by-test-work-results-at-namibia-phosphate-project-8284.html Minemakers Limited (ASX: MAK) has reported that the beneficiation test work currently being carried out at its Namibian phosphate project by Bateman Advanced Technologies Limited, as part of the Project Scoping Study, has produced encouraging initial results.

Minemakers acquired its direct equity in the Sandpiper/Meob Joint Venture marine phosphate project in offshore Namibia via the acquisition in July 2009 of Bonaparte Diamonds Mines NL . The company has two projects in Namibia, the Sandpiper/Meob JV and the Rocky Point Project.

The company said heavy liquid separation studies show that the phosphate rich size fraction (1mm to +0.074mm) can be enriched up to 26% P2O5, from whole rock samples with an average grade of 18-21% P2O5, using standard gravity separation techniques.

In addition, preliminary wet screening and attrition tests have shown trends favouring a slight improvement in the P2O5 concentrate grade along with partial removal of the contaminant gangue including iron (Fe), magnesium (Mg), aluminium (Al) and insoluble matter into the slimes waste stream (tailings) from the phosphate rich-size fraction.

Minemakers said further attrition tests are now being carried out at higher energy conditions to assess whether the increase in energy improves the grade in concentrate and the further removal of contaminant gangue.

The attrition and heavy liquid test work results indicate that the trends are coherent per layer in the two layers comprising the ore horizon and that the shelly layer 1 (top layer) and layer 2 (middle layer) are able to be blended as composites.

Andrew Drummond, managing director, said from the results to date it would appear that layer 2 is more responsive to heavy liquid separation mainly due to more complete liberation of the phosphate particles versus layer 1 size fractions.

The company said the attrition test work and heavy liquid separation analysis is ongoing, however the results to date confirm "the historical data from previous work carried out and provide further encouragement that the P2O5 concentrate grade can be improved along with contaminant gangue being satisfactorily reduced."

The Bateman Advanced Technology Limited work final report setting out the test work result is expected to be issued in Q3 - 2010.

Minemakers sees development of the Sandpiper/Meob project as the natural expansion strategy for establishing two geographic distribution centres to supply growing global phosphate requirements and places the company in the unique position of having two significant deposits targeting independent fertilizer producers.

The project is a JV between Minemakers and Union Resources Limited (ASX: UCL) and a Namibian owned company Tungeni Investments cc. and is focused on an accelerated programme for development of the combined areas and plans to commence mining 2011 at a target output of up to 3 million tonnes per annum.

In addition to current efforts on resource delineation, investigations and discussions are being progressed with several reputable organizations in the key areas of marine mining/dredging technology, beneficiation and potential offtake candidates.

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Wed, 30 Jun 2010 07:18:00 +1000 https://www.proactiveinvestors.com.au/companies/news/132760/minemakers-encouraged-by-test-work-results-at-namibia-phosphate-project-8284.html
<![CDATA[News - Minemakers confident about future of Wonarah Rock Phosphate Project ]]> https://www.proactiveinvestors.com.au/companies/news/132759/minemakers-confident-about-future-of-wonarah-rock-phosphate-project-4843.html Melbourne-based Minemakers (ASX: MAK) is confident that the objective of locating sufficient high grade phosphate for a 10 year Direct Shipping Ore operation at the Wonarah Rock Phosphate Project has been achieved as a result of the latest drilling programme at the Northern Territory project.

At a 25% P2O5 cut-off, the Main Zone Deposit has an estimated Indicated plus Inferred resource estimate of 66Mt @ 28% P2O5, while at a 27% P2O5 cut-off, it is 38Mt @ 30% P2O5.

During the morning trade, shares in the company increased 2.5c to 43c.

The high grade areas in the Main Zone Deposit have not been closed off by drilling and mineralisation extends right up to the Barkly Highway – the current northerly limit of the drilling undertaken to date by Minemakers.

With only ~20% of the deposit tested and strong mineralisation areas identified, further resource increases are confidently anticipated and underpin Wonarah’s potential multi-decade minelife.

At the Arruwurra Deposit, the high grade core has an Indicated and Inferred resource at a 15% P2O5 cut-off, estimated at 4.7Mt @ 30.2% P2O5. This is the likely first production area as access to site and exposure of the mineralisation was established during the recent bulk sampling and trial mining programme.

The independent resource estimation consultant has advised that its 2009 Main Zone Deposit resource estimate had an error in the reporting of grade for estimates reported at a 0% and 10% P2O5 cut-off.

It was advised to Minemakers as 969Mt @ 19% P2O5 across Indicated and Inferred categories, and has now been estimated as 1117Mt @ 11% P2O5. At Arruwurra there is a further 141Mt @ 16% P2O5 cut-off.

The total combined Main Zone and Arruwurra resource estimate at a 0% P2O5 cut-off is 1258Mt @ 12% P2O5.

The reported estimates for Arruwurra and the Main Zone at 15% P2O5 cut-off grade were not affected by the error.

As previously announced, one of the principal objectives of the 2009 drilling programme was to drill and delineate sufficient high grade mineralisation for a 10 year mining operation. This has now been achieved.

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Wed, 10 Feb 2010 07:37:00 +1100 https://www.proactiveinvestors.com.au/companies/news/132759/minemakers-confident-about-future-of-wonarah-rock-phosphate-project-4843.html
<![CDATA[News - Minemakers CEO positive on phosphate at Wonarah ]]> https://www.proactiveinvestors.com.au/companies/news/132758/minemakers-ceo-positive-on-phosphate-at-wonarah-0452.html At the Minemakers (ASX:MAK) annual general meeting today, Managing Director Andrew Drummond indicated to the meeting, "why Minemakers is Australia's best developing phosphate play":

Large JORC compliant inferred resource of 203Mt of phosphate.  Only 15% of the known system has been tested so far. Substantial resource increases "are expected to be announced by year end"Best infrastructure position - development favoured by key infrastructure already in placeClosest to a public highwayNearest to a railway line with spare capacity (except Arafura)Access to a port with necessary capacity from 2010Granted tenementsNo Native Title IssuesFastest to significant production (aiming for 2010)Cheapest CAPEX potentialOnly pure phosphate play with government Major Project Status

Minemakers closed at 52.5 cents.

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Wed, 26 Nov 2008 00:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/132758/minemakers-ceo-positive-on-phosphate-at-wonarah-0452.html
<![CDATA[News - Minemakers Aims for Phosphate production by 2010 ]]> https://www.proactiveinvestors.com.au/companies/news/132757/minemakers-aims-for-phosphate-production-by-2010-0352.html Phosphate Market Overview

Most of the world’s phosphate rock is used to manufacture fertilizers, including products such as super-phosphate, mono-ammonium phosphate (MAP) and di-ammonium phosphate (DAP).  Phosphorus is one of three essential ingredients for plant growth, along with nitrogen and potassium.
Demand for phosphate has soared as global demand for bio-fuels soared and rising affluence in developing nations.  Demand is high because farmers are growing more corn in the US and abroad.

In the U.S., they're using the corn to make ethanol; overseas, in China, more corn is grown to feed cattle because the Chinese are starting to eat more meat.  Rising middle classes in emerging markets like China and India are demanding more nutritious diets. The food crisis earlier this year pointed to how tight grain supplies are as inventories hover at historic lows.

Ultimately, farmers will need to replenish soil or risk lower crop yields. A subsequent crop shortage would boost crop prices, increase profits and spur demand for fertilizers. Recently announced cuts in phosphate production by Mosaic Inc (NYSE:MOS) and Morocco's Office Cherifien de Phosphate (OCP), the world's leading phosphate exporter could have positive implications for phosphate rock prices.

Until late 2007, world rock phosphate price, as determined by the largest exporter, Morocco, was about US$50/t fob.   That price has increased to around US$500/t.

Globally significant phosphate resource at Wonarah

Minemaker’s Wonarah Phosphate project currently has a JORC-compliant inferred resource of 72Mt at 23% P2O5 with substantial resource increases expected to be announced by the end of the year. 

At below US50/t fob, Wonarah’s large phosphate deposits were not economically viable – chiefly due to the costs of transport over some 1,200 – 1,300kms to the port of Darwin.  From the end of 2007 to the time of writing,. On all knowledge presently available to Minemakers, Wonarah has the potential to become a large, profitable and long term new rock phosphate exporting operation if current prices hold.

Intending a fast track, low capital cost route using existing infrastructure to capitalise on current world demand and very high prices. Scoping study, new resource estimates and purchase of major capital items planned for the last quarter of 2008. At the planned production level of three million tonnes per annum, Minemakers would account for two to three per cent of world production of phosphate rock.

First look comment by Andrew McCrea

Minemakers is an interesting play going forward on increasingly high demand for phosphate,  high phosphate prices and a share price that has retraced 78%.  Softening demand for fertilizer has been prevalent in recent months in tandem with all commodity prices.  However, looking ahead, the medium to longer term outlook for phosphate prices is good.  Significant new phosphate capacity is expected on-stream in 2010/11.  As a bulk commodity, the cost to move product to port is crucial in determining production break-even cost unit cost and ensure product is competitive.     

Shareholders
AMP: 6%

Fast Facts:-
Share price (ASX:MAK):  $0.65
Share price range: 20c - $2.95
Shares on Issue (million): 82.1m
Market capitalisation (M): $53.4m
Net cash (no debt): $10.5m

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Mon, 03 Nov 2008 00:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/132757/minemakers-aims-for-phosphate-production-by-2010-0352.html