AUM australian mining investments limited

quarterly activitie

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    In time....



    AUSTRALIAN MINING INVESTMENTS LIMITED
    ACN 000 317 251
    QUARTERLY REPORT
    FOR THE PERIOD ENDED
    31 DECEMBER 2003
    Mt Norma
    Two new leach vats were completed on time and on budget to compliment the already
    completed two existing leach vats. The new vats were increased in size during construction
    to contain a total of 47,000 tonnes of copper oxide ore, an increase of 27,000 tonnes from the
    original 20,000 tonnes. The total of ore being leached at any one time will be 67,000 tonnes.
    The Company purchased the entire conventional SX plant from the Young Australian Copper
    Mine and is currently completing the installation at the Mt Norma Copper Sulphate Project.
    The new plant was purchased to demonstrate the AUM SX Column Plant as a secondary
    plant to recover low grade copper from solution on major copper producers. Electrical
    installation will be completed as soon as the rain ceases.
    The new plant will run simultaneously with the AUM SX Column Plant and will add
    significant production for 2004. A centrifuge was integrated into the treatment circuit to
    replace the vacuum drum filters to increase recovery of the crystals.
    The new Mine Plan for the mining of Mt Norma orebody was completed by Tennant
    Isokangas Engineers and has been lodged with the Queensland Department of Mines and
    Energy with mining due to commence in early February to supply feedstock for the new
    leach vats.
    A total of 22” of rain was recorded at Mt Norma during January, which has prevented any
    further works during January.
    Corporate
    The Company issued 10,825,000 shares in October at an issue price of 4 cents per share to
    raise $433,000.
    The Company issued 22,922,179 shares, together with 22,922,179 attaching options, in
    December at an issue price of 4 cents per share to raise $916,887 pursuant to a one for three
    non-renounceable rights issue to shareholders.
    For further information in respect of the Company and its projects, please contact Wayne
    McCrae on 07 5503 1955.
    Yours faithfully
    Wayne McCrae
    Director
 
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