next zinc play

From the directors adress at the AGM.

"TriAusMin is one of very few exploration companies which have the high grade mineral resources with the clear potential to allow it to achieve producer status in the near term. Woodlawn is one of the highest grade base metal deposits ever discovered and this deposit alone can transform TriAusMin into an important and very profitable mining company over the next few years.
Progress toward that objective has been significant this past year and Wayne and his team are to be congratulated for the progress they have made. The only thing standing between TriAusMin and achieving producer status is the funding required to carry out mine development. We are working hard to arrange the necessary capital which will allow the Woodlawn property to move forward in 2014. Progress has been slow in this regard.
The mineral resource sector has been suffering from a serious lack of interest from traditional investors, a credibility crunch due to the massive write downs being taken by the large mining enterprises which put size over profitability and downside protection in making capital investment decisions and also due to an overall fear that global demand for metals will suffer from the global recession and the slowing of growth in Asia.
At TriAusMin, we are focused on mining projects which require modest capital requirements, rapid payback and high returns on invested capital and which have meaningful mine lives. To us this means projects in politically stable jurisdictions which operate under the rule of law, high grade deposits which make cash flow when metal prices are at the bottom of their cyclical patterns, and deposits where infrastructure give us an advantage over our competitors. Woodlawn ticks all those boxes and we are confident that this project is a Company maker.
We also believe, and most pundits seem to agree, that there will be a supply demand squeeze for zinc in a couple of years which will allow projects like Woodlawn to achieve very high returns while the excellent copper, lead and precious metal grades provide a strong underpinning for profitability.
So where do we stand today?
We have a development ready high quality mining project at Woodlawn. To achieve production we must raise the necessary capital to move the project forward. As such, we are currently discussing with a number of potential investors a variety of financing scenarios, including a combination of equity, debt, royalties etc. which will allow the tailings and underground projects at Woodlawn to move forward together, as well as a more sequenced approach which would focus on the underground project initially to be followed by full mine development. While the current equity markets make the raising of equity capital highly dilutive doing nothing is not an option which makes sense to us. As Shareholders ourselves you can rest assured that your management will be working hard to structure a financing which preserves value for our Shareholders and allows us to move forward in 2014!
Personally I believe that TriAusMin will achieve its producing mining company status over the next few years and can assure you that we will work tirelessly toward that goal. We thank all of our Shareholders for their continued support of our vision for TriAusMIn."