mutooroo, page-6

As you say a great JORC announcement but what happens next? In the 2011 Annual Report the MD states.....subject to those results theJV expects to complete a scoping study of a future possible magnetite mining and processing operation and thereafter consider the investment rationale for a pre-feasibility study. In broad terms the coping study will assess a project capable of producing around 10M tones per year of high grade magnetite concentrate, suitable for blast furnace feed.

There is no information relating to the timeframe for this study or any indication of the possible outcomes. Will Minotaur have to provide 40.9% of the funds for establishing the mining and processing operation or will they sell out as they have done in the past? Can anyone provide an educated stab at the time frame and/or a stab at the value of the project in the event of a sell out. f
Final question is, what would be the cost in setting up a mining operation,how long and when would a profit be returned on the project.

I ask because in the event of a non sell out I can see a substantial CR in the future.

Kippax