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anduramba molybdenum project update

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    Anduramba Molybdenum Project Update
    Pre‐feasibility  review  is  complete  and  proposed  financing  and  development  schedule finalised for the Anduramba Project located 150km west of Brisbane, Qld, Australia. 
    Pre‐feasibility review indicates an 11 year, 2 to 3mtpa conventional molybdenum sulphide 
    mine delivering a 2.5 year payback of A$86M Capital cost and an NPV of A$235M with an 
    IRR of 48.5%. 
    Definitive Feasibility Study (DFS) is scheduled to commence November 2008. 
    Preliminary testwork has identified the potential to produce up to 1.33mtpa of industrial 
    grade silica feldspar sand as a by‐product sold into SE Qld industrial developments.  
    Metallurgical testwork is due to be completed by mid November 2008. 
    Hydrogeology water supply study stage 1 has been completed. Stage 2 has commenced. 
    Mining Lease application in preparation. 
    Mineralogical studies and environmental tests have been completed.
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