Re: MAK - Minemakers
I've been wondering about this halt and it must be in relation to their last couple of anns where they have been stating the JORC of Wonarah. I assume the ASX is not happy with them for some reason, and MAK are required to submit a revised statement under ASX guidelines.
3 June ann on Clawback purchase:
Wonarah hosts the largest undeveloped rock phosphate deposit in Australia. Its northern sector alone contains a JORC-compliant inferred estimate of 1.95 billion tonnes at 23% P2O5 at an in-ground grade of 23%. (Refer 2006 Minemakers Prospectus.) Minemakers holds over 2,200km² of prospective ground around Wonarah as granted tenements, and a further 310km² under application.
3 June amendment:
Wonarah hosts the largest undeveloped rock phosphate deposit in Australia. Its northern sector alone contains a JORC-compliant inferred estimate of 1.95 billion tonnes at
14.4% P2O5. (Refer 2006 Minemakers Prospectus.) Minemakers holds over 2,200km² of prospective ground around Wonarah as granted tenements, and a further 310km² under application.
4 June amendment:
Wonarah hosts the largest undeveloped rock phosphate deposit in Australia. Its northernsector alone contains a JORC-compliant Inferred
Resource estimate of 1.95 billion tonnes at 14.4% P2O5. (Refer 2006 Minemakers Prospectus.) Minemakers holds over 2,200km² of prospective ground around Wonarah as granted tenements, and a further 310km² under application.
I have bolded and underlined the changes.
The correct figures should be:
1.95Bt@14.4% and
72Mt@23%
I assume the ASX wants them to get the wording correct here, or possibly make them go back to the 72Mt figure for some reason.
Whatever the case, I think it's just a minor point in regard to the deposit and nothing sinister. What confirms it to me is the Boardroom Radio interview just yesterday where everything was full steam ahead. No change to any of the fundamentals and viability. Mining in 2 years!
I hope....