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| 28 January 2003 ASX ANNOUNCEMENT IN PRINCIPLE FUNDING AGREEMENT Monto are currently in discussion with Roche Mining (“Roche”) and Morris International Group (“Morris”) to provide the bulk of the funds required for construction of a demonstration plant and to provide working capital for the company for the next twelve months. The requirement for a demonstration plant was outlined in the Chairman’s address to the Monto Minerals AGM. Discussions are ongoing but agreement has been reached in principle for a placement of shares to raise $4M from Roche and Morris, subject to completion of due diligence, executing a Heads of Agreement raising the balance of funds and shareholder approval. The issue price will be 6.8 cents per share. Monto’s Goondicum Crater Project is a multi-product industrial minerals mining project located near Monto, 132km by road south of the industrial city and bulk commodity port of Gladstone. The project will produce ilmenite, feldspar and apatite for international and domestic markets and will generate significant economic benefits for the Monto region. It is envisaged that Monto and Roche will enter a long term arrangement to develop and operate the project. Discussions with other parties to provide the balance of the required funding (estimated at $2M) will now be initiated. By order of the Board PETER J SLAUGHTER Executive Chairman 13 December 2002 ASX ANNOUNCEMENT APPOINTMENT OF NON-EXECUTIVE DIRECTOR Mr Richard Cottee has today been appointed a non-executive director of Monto Minerals. Mr Cottee, a lawyer by profession, has spent most of his management career in commercial and general management roles. He is currently Managing Director of Queensland Gas Company and has previously held positions as Managing Director UK and Eire for NRG Energy Limited, CEO of CS Energy Limited, Executive Director of Cyprus Coal Australia, Commercial Manager, Santos and Business Development Manager for Itochu. The Board believes that Mr Cottee's appointment delivers an appropriate balance of skills, which complements the current board's skill and experience base. Mr. Peter Slaughter, Monto Mineral's Chairman, noted that "attracting a person with a background in legal practice and a broad range of experience in government relations, international marketing of industrial commodities and project and financing experience has been admirably fulfilled with Mr Cottee's appointment." Mr. Cottee recently assisted Monto Minerals in the preparation of an information memorandum. By order of the Board PETER J SLAUGHTER Executive Chairman 27 September 2002 FINANCIAL REPORT FOR THE YEAR ENDED 30TH JUNE 2002 The Financial Report for the year ended 30 June 2002 was lodged today. A copy of the financial statements will be included in the 2002 Annual Report, which will be released shortly and made available on the website. 27 September 2002 ASX ANNOUNCEMENT UPDATE ON MONADELPHOUS AGREEMENT REGARDING GOONDICUM CRATER PROJECT The Engineering work undertaken by Monadelphous and its sub-contractors over the past year has been of high quality and has resolved all major technical issues. Monadelphous has been unable to secure funding for the project based on the production of Ilmenite and Titano-Magnetite only. It appears necessary to produce Apatite and Feldspar as co-products and further work and marketing is being undertaken by Monto for this. Discussions are being held with Monadelphous to determine the best way forward for the Project. Executive Chairman, Peter Slaughter, said "It is the Company's expectation that these discussions will enable it to explore more funding and development avenues for the Project". By order of the Board PETER J SLAUGHTER Executive Chairman 26 September 2002 ASX ANNOUNCEMENT Share Placement The Company has today issued 10,387,886 fully paid ordinary shares raising a net $391,610 for working capital. The placement was taken by new and existing shareholders. An Appendix 3B detailing the issue is attached. Product Marketing * The Company received a proposal from the SAFE Group of Companies on 23 September which includes SAFE purchasing all bulk sample apatite produced by the proposed demonstration plant. Discussions are continuing with SAFE regarding a long term supply agreement. This development confirms the strong domestic market for Goondicum Apatite. * Follow up visits to South East Asia by Director Geoff Moore have reinforced the view that there is a substantial market for Goondicum Feldspar in the Asian region at satisfactory prices. * Three producers have requested bulk trial shipments of 200 - 500 tonnes of feldspar. Expressions of interest from other producers are awaited. Discussions on price indicate our target pricing is appropriate to establish a market position. * A European consumer has also expressed interest in a large component of the planned ilmenite production from the Goondicum Crater Project, subject to a successful plant trial of a bulk sample. Appointment of Advisors The Company has accepted a proposal from Wilson HTM Corporate Finance Ltd for provision of advice to the Board. The Executive Chairman who has an association with Wilsons did not participate in this decision. PETER J SLAUGHTER Executive Chairman 28 May 2002 ASX ANNOUNCEMENT MONTO MINERALS RESTRUCTURE HERALDS NEW PHASE The Board of Directors for Monto Minerals NL has been restructured to reflect a more appropriate balance of skills and experience for the next phase of the Company's development. Mr Peter Slaughter will replace Mr Terry Morris as Chairman and will act in an executive role. Mr Morris, who has guided Monto Minerals in recent years, will remain a substantial investor in Monto Minerals. Mr Geoff Moore will replace Mr Mal Larkins as a non-executive Director and Mr Peter Dowling will become Deputy Chairman. Both Messrs Morris and Larkins have provided sound guidance and support for Monto Minerals through the challenging process of evaluating the Company's projects, particularly the Goondicum Crater Project. Biographical information on Messrs Slaughter and Moore is appended. Mr Laurie Johnson has stepped down as Managing Director and will continue as Executive Director. The Board indicated its desire to retain Mr Johnson's services to ensure a continuation of knowledge and smooth transition with the retention of important established relationships. It is planned that a Managing Director will be appointed once the Feasibility Study is completed and finance arranged. Mr Slaughter noted that: * in the past eighteen months significant progress has been made confirming the basis of the Goondicum Crater Project at 210,000 tpa of ilmenite; * the Board changes are a positive move to take the Company into a new stage of development. The Goondicum Crater Project is commercially viable at present prices for titanium products, but the Board wants to ensure that the economics are robust enough to survive any downturn in world markets, product prices or a strong appreciation of the Australian dollar and extract maximum value from the Project; * it is considered imperative that the potential for an apatite and feldspar co-product (multi-product) strategy targeting approximately 50,000 tpa of apatite and 200,000 tpa of feldspar be thoroughly evaluated; * the Company has recently entered into a Memorandum of Understanding with CS Energy Limited to investigate supply of ilmenite to a processing plant at CS Energy's Energy Park at Callide. Any such facility would be viewed in a very positive light by Monto Minerals but, in the short term, Monto must build a strategy that is not dependent on that option. By doing so, it would strengthen the chances of such a facility being built. Mr Slaughter said the key advantages of a multi-product strategy (ilmenite, titano-magnetite, apatite and feldspar), at comparatively small additional operating cost, is diversity of income streams from individual commodities sales with concurrent lower revenue risk and potentially superior returns. Peter Slaughter and Geoff Moore bring to the Board extensive technical, mining and marketing experience, which will be essential in evaluating the processing characteristics of the apatite and feldspar products and development of viable markets and customer relationships in Australia and Asia. Monadelphous Group Ltd, with whom Monto Minerals NL has an agreement to finalise the feasibility study, secure funding and develop the Goondicum Crater Project, will complete the study once the feldspar and apatite investigations are available. For and on Behalf of the Board PETER J SLAUGHTER FAusIMM, FAICD, FAIM Executive Chairman Contact: Mr Peter Slaughter (07) 3212 1352 or (07) 0411 228 206 BIOGRAPHICAL INFORMATION PETER SLAUGHTER Peter Slaughter is well known in the mining industry and financial community and worked for MIM Holdings Limited in Australia and internationally over a period of 30 years. In addition to his operating experience Mr Slaughter's international background as a senior manager and non-executive director provides valuable experience and insights for Monto Minerals. More recently, Peter has undertaken management consulting and advisory work and is closely associated with Wilson HTM Corporate Finance Limited and Brisbane management consulting group Competitive Dynamics Pty Ltd. He is also on the Advisory council of the Sporting Wheelies and is President of the Qld & NT division of the Australian Institute of Management. GEOFF MOORE Geoff Moore was General Manager of Consolidated Rutile Limited until the end of 2001. Prior to that he worked for the Iluka Resources/RGC group companies for 29 years managing mineral sand mines and projects in the USA and various exploration and mining projects in Australia. Mr Moore has an excellent grasp of issues associated with production and international marketing of Ilmenite and other mineral sand commodities. Since leaving Consolidated Minerals, Geoff has undertaken consulting assignments in the mining sector. 27 March 2002 ASX ANNOUNCEMENT MONTO MINERALS NL and CS ENERGY LTD SIGN MEMORANDUM OF UNDERSTANDING CS Energy Ltd Monto Minerals NL and CS Energy Ltd have signed a Memorandum of Understanding and Confidentiality Agreement on the Goondicum Project and Downstream Beneficiation regarding possible participation by Monto Minerals in the Callide Energy Park. CS Energy and Monto Minerals are seeking participation by industry players in the beneficiation of ilmenite to an upgraded titaniferous product at Callide. The ability for Monto Minerals to commit to long term, lower cost production of ilmenite (due to the reduced materials handling requirement) is complemented by the ability of CS Energy to provide long term innovative and attractive energy and land packages at Callide Energy Park. Callide is approximately 100kms northwest of the Goondicum Crater Project. The concept is similar to the Stanwell Industrial Park and AMC's magnesium project. Feasibility Study Monadelphous Group Ltd have advised that the feasibility studies regarding the production of ilmenite and titano-magnetite is complete for practical purposes. Monadelphous and their selected consultants provided a disciplined approach to utilise the pertinent information from previous studies carried out over the past six years, address outstanding issues and formulate a cohesive development plan for production of ilmenite and titano-magnetite. The following significant issues were resolved: 1. Surface water storage has been replaced by a substantial long term licenced groundwater resource. 2. Tailings disposal and rehabilitation techniques, together with a mine plan for approximately 20 years have been developed. The mine plan provides an optimal balance between long term mining, available water supply and the anticipated market for ilmenite. 3. Mining techniques have been simplified to truck and shovel and thickening of fine tailings modified to allow pumping to the rehabilitation cells where process water will be recovered prior to consolidation and drying of tailings using natural processes and high transpiration pasture vegetation. The completion of this work has enhanced the opportunity to develop the Memorandum of Understanding with CS Energy Ltd. Monadelphous Group Ltd has confirmed substantial quantities of feldspar and apatite within the Goondicum Crater Project resource. The exploitation of these products, which may add significant value to the Project, will be further investigated by Monto Minerals with regard to reserve calculations, recoveries and markets and incorporated in the feasibility study. The timing for the completion of these studies will be announced once defined. By order of the Board LAURIE G JOHNSON Managing Director 26 March 2002 ASX ANNOUNCEMENT MONTO SHARE PURCHASE PLAN OFFER CLOSED PLACEMENT OF SHARES Share Purchase Plan The offer to shareholders under the Monto Share Purchase Plan closed on 20 March, 2002. The Directors are pleased to advise the offer attracted 112 acceptances, totalling 4,678,664 shares at an issue price of 4 cents, raising $187,146.56. Placement of Shares A separate placement of 2,500,000 shares at 4 cents per share has also been made to an existing shareholder, raising an additional $100,000. The shares allotted will be recorded on the share register and placed into holdings today. An Appendix 3b in respect of the placement of 2,500,000 shares is attached. By order of the Board GARRY M EDWARDS Company Secretary 8 March 2002 ASX ANNOUNCEMENT GOONDICUM CRATER PROJECT WATER BORE LICENCE GRANTED FOR 21 YEARS Monto Resources Pty Ltd, a subsidiary of Monto Minerals NL, has been granted Water Bore Licence 74220M for 21 years. This is the first of three "in-conjunction" licences which give a total nominal allocation of 3000 megalitres of water annually. The allocation is sufficient for the mining and processing planned for the Goondicum Crater Project and resolves the critical issue of water supply for the Project. By order of the Board LAURIE G JOHNSON Managing Director 4 March 2002 ASX ANNOUNCEMENT SHARE PURCHASE PLAN The Directors of Monto Minerals NL are pleased to advise the introduction of a Share Purchase Plan to enable Australian and New Zealand registered shareholders of Monto, as at close of business on 1 March, 2002, to purchase up to $3000 worth of shares each, i.e. 75,000 shares at an issue price of 4 cents each. The offer will open on Tuesday 5 March and close on Wednesday 20 March, subject to the Terms and Conditions of the Share Purchase Plan. Each eligible shareholder will be mailed the offer and the Terms and Conditions of the Share Purchase Plan during this week. A copy of the information which will be mailed to shareholders is attached to this announcement. Acceptances received after the first $700,000 of applications are subject to acceptance at the Directors' discretion and allotment would be subject to shareholder approval, therefore shareholders are encouraged to forward applications without delay to be in the first $700,000 of applications received. By order of the Board GARRY M EDWARDS Company Secretary 1 March 2002 ASX ANNOUNCEMENT SHARE PLACEMENT The Directors of Monto Minerals NL advise that 1,571,429 fully paid ordinary shares have been placed today at 3.5 cents each, raising $55,000. By order of the Board GARRY M EDWARDS Company Secretary |
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