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[June 2007]
Minerals Corporation Announces Milestone Achievement for Kaolin
Minerals Corporation Ltd (Sydney, NSW, Australia) has announced a milestone achievement in volume sales. After engaging in extensive testwork with a number of companies in the Australian cement industry, it has executed a Heads of Agreement for Skardon River kaolin supply for the manufacture of two products with potential to increase to other high volume products later.
Kaolin is used in high quality large volume concrete applications in North America but historically has not materially penetrated the Australian market.
The Heads of Agreement is for kaolin usage as follows:
• 15,000 tonnes during the start up phase in 2007;
• 30,000 tonnes in 2008; and
• 50,000 tonnes in 2009.In view of the importance of this development, the company has also engaged the services of a senior industry technical consultant to assist with future development work in this industry sector. The company also said that following trials in 2006/07, it was able to announce excellent testwork results for a high volume and high value Skardon River kaolin application with a major global polymers company.
Given the above mentioned events, the directors decided to extend the closing date of the Share Purchasing Plan by three working days to 5pm on 27 June 2007 so as to allow shareholders extra time to consider the SPP offer as announced on 6 June 2007.
MSC has commissioned a world class china clay (kaolin) project at Skardon River, in northern Queensland which is currently in the marketing roll-out stage. Additional premium quality kaolin projects are being developed in China and Western Australia which, says the company, will transform MSC into a leading regional based supplier with a full range of exceptionally high grade kaolin products for the paper, paint, polymer, cosmetic, pharmaceutical and ceramic industries focused on South East Asia and selected world markets.
www.mineralscorp.com.au
ENDS