Each one in plain English, with the numbers worked through for a shareholder.
9 May 2011drilling result▲ GoodMajor
Waddikee drilling found the project's best manganese yet at the new Hodgins prospect: 20m @ 23.8% Mn and 10m @ 29.2% Mn in hole HRC05. Mineralisation appears limited to a small area under cover, so auger sampling is planned next. Iron results were also reported.
16 Mar 2011drilling spud● Neutral
Marmota, Monax's 50:50 Melton partner, began Phase 2 drilling: five holes over about nine weeks at the Miranda copper target. Phase 1 reached up to 0.49% Cu. This is the 2011 Melton drilling previously flagged.
4 Mar 2011drilling spud▲ Good
RC/aircore drilling began at Waddikee, about 3,600m testing the southern Jamieson Tank extension and four regional prospects. Two diamond holes are planned for mid April. OM (Manganese) is funding the earn-in. This is the early-2011 drilling previously flagged.
9 Feb 2011drilling progress report▲ Good
Punt Hill gravity survey restarted and is about 45% complete, due late February to early March, for 14,650 stations in total. Age dating ties the copper-gold mineralisation to the same ~1580 million-year-old event as Olympic Dam. Supports the geological case; no new drilling results.
8 Nov 2010drilling scheduled▲ Good
Gravity survey began at Punt Hill, the first phase of the Antofagasta farm-in, adding 8,035 stations to 6,800 existing. Drilling is planned for April 2011 once approvals are granted. This is the first exploration under the deal.
6 Sept 2010farm in farm out agreement▲ Good
Antofagasta must spend at least US$1.5m on Punt Hill in the first two years, so exploration is assured. Yeltacowie tenement EL 4548 is granted for two years; drilling planned late 2010 or early 2011.
1 Sept 2010farm in farm out agreement▲ GoodMajor
Monax signed an option with Antofagasta PLC over Punt Hill: Antofagasta can earn 51% by spending US$4m over 4 years, then a further 19% for US$5m more, plus a US$10m success fee on a development decision. This delivers the JV long sought.
28 July 2010drilling result● Neutral
Marmota reports Melton Miranda hole MIRDD04 hit up to 3m @ 0.26% Cu from 487m, with MIRDD01 at 21m @ 0.11% Cu. Holes 02 and 03 gave lower copper. Low-grade copper halo only; downhole geophysics and follow-up drilling planned for early 2011.
16 July 2010drilling result● Neutral
Final Waddikee results: best new manganese 7m @ 17.1% and 5m @ 19.2%, iron up to 6m @ 37.2% Fe. Monax is building a 3D model; regional auger (435 samples) is finished, results due in 4-6 weeks. OMM still must spend $2m to earn 60%.
24 June 2010drilling result▲ Good
Initial Waddikee RC results confirm a 5km manganese strike at Jamieson Tank, best 10m @ 17.5% Mn (incl. 2m @ 26.7%), plus iron up to 20m @ 32.1% Fe. Grades are modest; remaining assays due in 2-3 weeks, matching the late-July timing flagged earlier.
1 June 2010drilling result● NeutralMajor
Marmota reports first Melton results: Miranda hole MIRDD01 hit 21m @ 0.11% Cu from 451m, including 3m @ 0.42% Cu. Two other holes show visible sulphides, with assays pending. This is weak but anomalous copper; Monax holds 50%.
6 May 2010drilling spud▲ GoodMajor
RC drilling began at Waddikee's Jamieson Tank: about 87 holes for 5,200m, testing the auger results. OMM must fund $2m over four years to earn 60%. Drilling should take 5-6 weeks, with results due late July 2010.
24 Mar 2010farm in farm out completion● Neutral
Marmota says it has met its full Melton earn-in and now holds 50%, ahead of schedule; drilling of the first three of five targets continues. Monax may keep its equity by contributing to the program.
15 Mar 2010drilling result▲ Good
Mapping and sampling at Waddikee's Jamieson Tank found up to six manganese horizons over about 5km of strike, with rock chips up to 50.61% Mn (previously 46.7%). RC drilling under the OMM farm-in is now planned for late April.
3 Mar 2010drilling scheduled● Neutral
A helicopter magnetic and radiometric survey has started over Kangaroo Island's lead-zinc prospects, with an IP survey at Bonaventura due in 2-3 weeks. Drilling is now planned for mid to late 2010, later than the early 2010 timing earlier signalled. Monax applied for two more tenements, taking the area to 499 km2.
1 Mar 2010drilling spud▲ GoodMajor
Marmota began maiden drilling at Melton, a ten-hole program testing three of five targets, starting with Miranda. Phase one should take about ten weeks. Marmota will reach its 50% earn-in during it, and Monax is expected to contribute to keep its share.
19 Jan 2010drilling result▲ Good
Early work under the OMM farm-in at Waddikee's Jamieson Tank found five manganese horizons, two of them new, with rock chips up to 46.7% Mn. RC drilling is scheduled for May 2010, earlier than the mid-2010 timing previously given.
20 Nov 2009drilling scheduled▲ Good
Monax outlined a 2010 drilling program across four projects: Melton from February, Punt Hill from March subject to approvals, Waddikee and Kangaroo Island. It is described as one of the most intensive in the company's history; the rights issue is aimed at adding $2.7m.
5 Nov 2009drilling result▲ Good
Infill gravity survey at Punt Hill found two prominent targets, Gopher and Otcheck, possibly shallower than the earlier Groundhog drilling (best 159m @ 0.47% Cu). Modelling is under way and drilling is planned for the first quarter of 2010, subject to approvals.
23 Sept 2009drilling result▲ Good
A high-resolution aeromagnetic survey at Melton, the Yorke Peninsula project Marmota is earning 50% of, outlined up to five high-priority targets. Ground surveys come first, with drilling planned from December to April 2010. Monax plans to co-fund to keep its 50%.
15 Sept 2009drilling result▲ GoodMajor
Marmota reports a new uranium prospect at Mulyungarie from its 24-hole program: 18 holes showed gamma anomalies, six at 100ppm eU3O8 or more, best 256ppm. Follow-up drilling is planned for October 2009. Marmota is earning 70% of uranium rights from Monax.
27 Aug 2009farm in farm out agreement▲ Good
OM Holdings' own release of the Waddikee farm-in, matching Monax's terms: $2m over four years for 60% of ferrous minerals, subject to conditions precedent. It adds that OMM would manage any later joint venture. Duplicates ref 11 from the partner's side.
27 Aug 2009farm in farm out agreement▲ Good
Monax's own release of the Waddikee farm-in: OM (Manganese) can earn 60% of ferrous minerals for $2m over four years, minimum $250,000 in year one, subject to due diligence. Repeats the partner's announcements already seen; Monax's chairman cites up to 42.5% Mn at 88% recovery.
27 Aug 2009farm in farm out agreement▲ GoodMajor
OM (Manganese), a subsidiary of OM Holdings, can earn 60% of ferrous minerals at Waddikee by spending $2m over four years, with $250,000 minimum in year one. Subject to 90-day due diligence. Monax stays operator. Follows the 2008 beneficiation results.
27 July 2009farm in farm out agreement▲ GoodMajor
Marmota can earn 50% of Monax's Melton copper-gold-uranium project on Yorke Peninsula (two tenements) by spending $400,000 over two years. It is a new joint venture, adding to the existing Marmota deals with Monax.
27 Apr 2009drilling spud● Neutral
Marmota began its first copper-gold-uranium basement drilling at Ambrosia, on ground it is earning 50% of from Monax. The program is expected to take several weeks. It follows the earlier 25% earn-in, and no results yet.
18 Dec 2008drilling result▲ GoodMajor
Early lab tests on two Jamieson Tank samples lifted manganese from about 20% to 42.5% (80% recovery) and 18.7% to 34.7% (88% recovery). Laboratory conditions, not plant-scale. Spiral testing and a Pollinga sample test are still to come.
26 Nov 2008drilling result▲ GoodMajor
Punt Hill hole GHDD6 returned 159m @ 0.47% Cu, with 17m @ 1.1% Cu within it. The extended GHDD2 also hit copper over its extension. Described as the best results to date there; the company is now reviewing data to plan next steps. Resolves the pending Groundhog results.
19 Sept 2008drilling result▲ GoodMajor
Waddikee drill assays confirm manganese in all eight Jamieson Tank traverses, with intercepts of 1-22m above 10% Mn and 1-4m above 20% Mn. Unexpectedly strong iron of 20-34.8% Fe over 12-24m. Mineralisation extends over 2.5km; beneficiation testing has begun. Resolves the pending assays.
13 Aug 2008drilling result▲ Good
Seven May rock chips gave the highest manganese grades yet: up to 54.1% at Jamieson Tank and 39.3% at Pollinga. Surface samples only. Drill assays, thicknesses and grades are now expected in 2-3 weeks.
