News: MLM Melior Announces Merger With ASX Listed Metallica Minerals Ltd, page-15

IMO the graphite and silica sands are worthless. Graphite is too far in ground to be viable and Mitsubishi who run the jetty at Cape Flattery aren't going to allow a competitor to operate profitably. There is no mention of Solomon Island, so it would appears MLM have realized the risk of operating in the Solomon Island. Urquahart has been down graded in value due to the increased shipping costs, so this seems an olive branch to MLM to actually earn some money albeit at a significant disadvantage to exisiting shareholders.