Minemakers (ASX & TSX Code: MAK, NMS Code: MMS) has two of the largest undeveloped rock phosphate projects in the world at Wonarah, in Australia's Northern Territory and sub-sea off Walvis Bay, Namibia.

These two deposits have the scale to make Minemakers a world force in phosphates and their locations underpin a strategy in which Minemakers could efficiently serve the world's dominant phosphate markets. Minemakers is understood to have the largest phosphate resource position of any listed company in the world. Its resource estimates are JORC and NI43-101 compliant.

WONARAH

With resources estimated at almost 800Mt @ over 18% P₂O_5, at a 10% cut-off the Wonarah deposits are now being evaluated as ore feed for downstream processing to fertilisers. A feasibility study has been carried out jointly with Bombay listed NMDC Ltd. NMDC, which has a market capitalisation of around A$20 billion, has entered into an MOU which could see it acquire a 50% interest in the project.

The pre-feasibility study considered development of a mine and downstream processing facilities to produce phosphoric acid and finished fertiliser products such as diammonium phosphate and monoammonium phosphate.

Minemakers and NMDC are negotiating a joint venture agreement. It is intended that this will include commitments from NMDC to arrange project finance.

NAMIBIA

The Namibian Marine Phosphate JV, has a JORC compliant resource of 1,507Mt @ 18.7% P₂O₅ in the Sandpiper deposit about 60km offshore in Walvis Bay.

Minemakers holds a 42.5% direct interest in the JV company, Namibian Marine Phosphate (Pty) Limited, with another 42.5% held by Union Resources Ltd (in which Minemakers holds a 13.1% stake) and the remaining 15% is held by Namibian partner, Tungeni Investments cc.

A 2010 scoping study provided the basis for a full feasibility study that is due for completion at the end of 1Q 2012. The financial analysis in the scoping study has subsequently been strongly enhanced by increases in phosphate rock prices.