Ann: Indicative Proposal by Daton to buy Krucible, page-27

re: Ann: Indicative Proposal by Daton to buy ... Any chance Incitec Pivot will get interested in the potential asset up for sale?


Korella Phosphate Pty Ltd (a wholly owned subsidiary of Krucible Metals Ltd) has pegged two Mining Lease Applications (MLA’s 90208 and 90209) within the Corella Bore EPM 15572, covering an area of 1,577 hectares. Following discussions with QDME, it is proposed to amalgamate the two MLA's. Grant of the tenements includes concluding Native Title Agreement, with the Yulluna people and land use agreements with the Pastoralist..

These MLA’s have been pegged with the concept of quarry mining a high grade Phosphate resource located adjacent to the operating Phosphate Hill Mine (owned and operated by Incitec Pivot Ltd).