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| 19th December 2000 ASX ANNOUNCEMENT HEADS OF AGREEMENT EXTENDED Monto Minerals and Multiplex Constructions have agreed to extend the Heads of Agreement by a further two months (expiring on 4 March, 2001) to allow sufficient time for the various contractors to complete their investigations regarding the capital and operating expenditure estimates for the Goondicum Crater Ilmenite and Titano-magnetite Project. Monto Minerals NL has commenced discussions with an Australian fertilizer company regarding a long term supply contract for apatite. By order of the Board LAURIE G JOHHNSON Managing Director 4th October 2000 ASX ANNOUNCEMENT GOONDICUM CRATER ILMENITE & TITANO-MAGNETITE PROJECT TRIALS ON CRATER LEASE (ML 80044) NEARING COMPLETION Thickener, tailings deposition and rehabilitation trials on the Goondicum Crater Lease to ensure the mined areas are returned to existing or better pasture are in progress. Onsite activities will be completed next week. Results to date have been very encouraging. This program involves the processing of representative, naturally occurring sand silt and clay sized material to produce mineral concentrates and tailings. The ilmenite occurring in the concentrate will be extracted for synthetic rutile production testwork. The sand size tailings are re-mixed with thickened clay and silt tailings which then form a stable profile for restoration of the mined areas. The restored and rehabilitated areas will be monitored to establish the best conditions for full scale operations. The pilot plant program is being conducted by a group of specialists with extensive experience including the mineral sands industry in Western Australia. The efficient and environmentally appropriate treatment of tailings is one of the critical factors for a mining operation. The Company expects that this is the final "on lease" testwork necessary prior to the completion of feasibility studies. By order of the Board LAURIE G JOHHNSON Managing Director 12th September 2000 ASX ANNOUNCEMENT MULGILDIE BOREFIELD ASSESSMENT INDICATES SUFFICIENT WATER SUPPLY FOR LIFE OF MINE An assessment of the potential yield of Goondicum Ilmenite Bore No. 1 indicates that the bore is capable of producing the allocated yield of 47.5 litres per second (1500 mega litres per year) and that this could be increased to 60 litres per second. Monto Resources Pty Ltd, a wholly owned subsidiary of Monto Minerals NL, holds within the Mulgildie Basin, three water bore licences each with an allocation of 1500 mega litres per year. Based on the limited data from the Mulgildie Basin a yield of 89 litres per second as estimated for the mining operation process water, should be sustainable for up to15 years and possibly longer therefore covering the projected life of the mine. By order of the Board LAURIE G JOHHNSON Managing Director 10th August 2000 ASX ANNOUNCEMENT MULTIPLEX AND MONTO MINERALS EXTEND THE HEADS OF AGREEMENT Multiplex and Monto Minerals have agreed to extend the Heads of Agreement by five months to 4 January, 2001. This extension will allow Monto Minerals to investigate and refine various technical issues including: • confirmation of a reliable water supply; and • construction and trialing of a small pilot plant, utilising a deep cone thickener, for rehabilitation within the Crater Mining Lease. Monto Minerals is also completing investigations into the commerciality of the additional products apatite, plagioclase feldspar and olivine during this period. Multiplex has advanced the Synthetic Rutile Plant proposal which is a part of the Bundaberg 2000 Integrated Industrial Park Project. This project includes sugar mill upgrades, a paper pulp plant and a co-generation plant. In addition, external infrastructure components are planned for the Bundaberg region. These include a new crossing of the Burnett River to Bundaberg port and expanded port facilities. Multiplex have commissioned Sinclair Knight Merz to complete environmental studies for the Bundaberg 2000 Integrated Industrial Park and ancillaries. Multiplex are negotiating with Ausenco to produce a Feasibility Study for the Synthetic Rutile Plant. Multiplex are in the process of acquiring the technology for the production of synthetic rutile from Goondicum Ilmenite. This technology has been specifically designed for producing synthetic rutile from sulphateable ilmenite. By order of the Board LAURIE G JOHHNSON Managing Director 18th July 2000 ASX ANNOUNCEMENT ISSUE OF UNQUOTED SHARE OPTIONS TO EMPLOYEES A new class of unquoted options were issued on 18 July, 2000. Details as follows: • 600,000 options expiring on 31 December 2001 exercisable at 6.7 cents. GARRY M EDWARDS Company Secretary 22 June 2000 ASX ANNOUNCEMENT MULGILDIE BASIN WATER BORE DRILLING COMMENCED 1. Drilling of the first water bore to approximately 660 metres commenced today at a site about 2.5km to the north-west of Mulgildie near Monto in Central Queensland. The bore is intended to access water from the Precipice Sandstone in the Mulgildie Basin. Following drilling, construction and development of the bore, testing is to be carried out by using a step-drawdown pumping test and a 100 hour constant drawdown test. Work is expected to be completed by mid July. The bore construction represents a major step in verifying availability of a reliable water supply which is critical to the Goondicum Crater Ilmenite and Titano-magnetite Project. 2. Construction of the bore and subsequent testing of water flow volume is intended to provide a level of certainty which will assist the facilitation of funding of the project. 3. The bore being constructed is one of possibly three which would be required to provide processing water for the Goondicum project and represents a viable alternative to the construction of a weir as proposed in earlier studies. Water from the Mulgildie Basin is expected to require minimal processing and would be pumped via a 32 km pipeline to the project site. The Board is pleased to be able to announce this important step in the process of demonstrating the feasibility of the Goondicum Crater Ilmenite and Titano-magnetite Project. By Order of the Board LAURIE G JOHHNSON Managing Director For further enquiries regarding this Announcement, please contact Laurie Johnson on (07) 5574 3999. 23 February 2000 MONTO MINERALS AND MULTIPLEX CONSTRUCTIONS FINALISE HEADS OF AGREEMENT 1. As foreshadowed in the December quarterly Report, Monto Minerals NL and Multiplex Constructions (Qld) Pty Ltd, the Queensland branch of the Multiplex Group, have agreed the terms of a Heads of Agreement regarding the development of the Goondicum Crater Ilmenite and Titano-magnetite Project and the construction of a Synthetic Rutile Plant at Bundaberg in Central Queensland. 2. These developments are part of a much larger project proposed for the Bundaberg region which was announced today by Bundaberg Sugar and Multiplex. The feasibility study for this major project will take nine months to completion. 3. Conditions of the Heads of Agreement between Monto Minerals and Multiplex have been agreed which allows a six month period for a decision to be made by both parties to proceed with the development of the Project after detailed planning and research. During this period subject to approval of the Project by both parties, an agreement setting out the basis on which the Project will proceed will be negotiated. The extensive resources in the Goondicum Crater and other deposits are estimated to have the capacity to accommodate production for both the Synthetic Rutile Plant and other Ilmenite markets worldwide. 4. The Heads of Agreement proposes that: • Multiplex will use its best endeavours to arrange funding for the Goondicum Crater Ilmenite and Titano magnetic Project and the Synthetic Rutile Plant at Bundaberg; and • A Special Purpose Company in which Monto Minerals will have a major interest and Multiplex will hold the balance, will be established to provide the Ilmenite to the proposed Synthetic Rutile Plant. The production of synthetic rutile has been a medium term objective for Monto Minerals. This agreement has the potential for Monto Minerals to move into production of initially ilmenite and titano-magnetite followed soon after by synthetic rutile. By Order of the Board LAURIE G JOHNSON Managing Director For further enquiries regarding this Announcement, please contact Laurie Johnson on (07) 5574 3999. |
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