Fellows.I attended the presentation. Some things that Matt...

Fellows.

I attended the presentation. Some things that Matt Shackleton said that are not in the overheads --

• Amazon may contain between 300m-800m tonne of magnetite, at 65c per tonne in ground.
• MUM is likely to relinquish the majority of its greenfield tenements. They cost $200k per month to maintain and, unless they contain high concentrations of gold, are not viable beyond 50km from a mill.
• MUM is negotiating with Lihir Gold for the purchase of the mill at Curara Well.

Reading between the words, I believe MUM is intending to leverage Amazon by a farm-in. Matt said that he was presently conferring with three entities. I expect that one will be Gindalbie as it also has magnatite that it processes and ships out of Geraldton. I don't believe MUM is considering a sale of Amazon (that is not leveraging).

I expect that future announcements will relate to --

• Purchase of Lihir's mill.
• Commencement of Phase 2 drilling in Curara Well.
• Amazon farm-in, with JV meeting the cost of further exploration.
• Commencement of mining of Curara Well, with MUM transitioning from explorer to producer.

Grim.