MINEMAKERS LIMITED
Market Turbulent. Minemakers Sound
MAK - Share Price Update - Mr Andrew Drummond, Managing Director
Fri, 10 Oct 2008 05:15PM
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Mr Andrew Drummond
Fri, 10 Oct 2008
05:15PM Australia/NSW
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MINEMAKERS LIMITED (MAK)
ASX code: MAK
Website: http://www.minemakers.com.au
Industry: Materials
Principal Activities:
Base mineral exploration
Address:
23 Altona Street
WEST PERTH
WA
Phone: 08 9264 7000
Fax: 08 9264 7099
Executives & Directors
Mr George Arthur Savell , Chairman
Mr Andrew James Drummond , Managing Director
Mr Edward John Ellyard , Non Exec. Director
Mr Richard O'Shannassy , Non Exec. Director
Mr Dennis William Wilkins , Finance Director
Mr John Ribbons , Company Secretary
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Company ASX Announcements
Company ASX announcements can be viewed on the ASX website.
Announcements from the preceding six months are shown below.
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MINEMAKERS LIMITED (MAK) Events
Australia/NSW
MINEMAKERS LIMITED (MAK)
| Audio Broadcast Exploration Agreements - Aboriginal Owners | Thu, 4 Dec 2008 |
| Appendix 3B | Thu, 4 Dec 2008 |
| Conclusion of Negotiation of New Exploration Agreements | Wed, 3 Dec 2008 |
| Discovery of Further Tasmanian Uranium | Mon, 1 Dec 2008 |
| Major Iron Project Acquisition | Fri, 28 Nov 2008 |
| Results of Meeting | Wed, 26 Nov 2008 |
| AGM Presentation | Wed, 26 Nov 2008 |
| Appendix 3B | Wed, 26 Nov 2008 |
| Audio Broadcast Response to Broker Report | Tue, 18 Nov 2008 |
| Audio Broadcast Resource Estimate for Arruwurra Deposit | Fri, 14 Nov 2008 |
Please note: This company appears on this website as a result of its listing on the Australian Securities Exchange. Boardroom Radio does not claim any association with any company listed on this site.
INTERVIEW WITH MR. ANDREW DRUMMOND, MANAGING DIRECTOR OF MINEMAKERS LIMITED (MAK)
“Share Price Update”
http://www.brr.com.au/event/52300
FRIDAY, OCTOBER 10, 2008, 5:15 PM.
BRR Today on Boardroom Radio, we’re talking to Mr. Andrew Drummond, the Managing Director of Minemakers.
10
Andrew, glad to speak to you again.
MAK Yes, good day, Joel. I wish I’m talking to you in a sort of happier circumstances.
15
BRR Yes, it’s certainly been a fairly disastrous down the market to put it lightly, we’ve seen Minemakers’ share price before quite a bit this week (inaudible) (0:00:18) just about everyone else. Are there any reasons for this beyond the general market sector there a bit?
20 MAK No, I’d like to ensure your listeners that there aren’t, Joel, the market is fully informed. We will be having our quarterly report going out next week, probably early in the week. But now, we look at this share market’s paranoia at present. There’s no way that our share price reflects the worth of the company, let alone the flagship Wonarah project, and just by way of an
25 indication, and we have had preliminary number there for Wonarah, just with the fall in the Aussie dollar compare to the US dollar over the last couple of weeks. The increase of rock phosphate price in Australian dollars, consequent upon the fall in the Aussie dollar, is likely to outweigh the actual operating cost, the production cost, or the phosphate based on the numbers,
30 you know, that are sort of coming through as we do our scoping study. So, once the implications of that sink in, I’d like to think that our current share price we’ve seen as a (inaudible) (0:01:26) essentially but a lot of (inaudible) (0:01:28).
BRR Certainly it is. Now, Andrew with significant number of shares that’s come out
35 of Escrow today, has it been feeling (inaudible) (0:01:34) by the directors or vendors of the projects in the company?
MAK No, they haven’t. Again, a bit of bad luck in the time, it was certainly nothing to do with us. Now look, under our corporate governance policy, no director is
40 allowed to sell any shares where (inaudible) (0:01:47) without the approval of the rest of the Board, and I can assure you that none has been sold and none has been given, which I speak to the main vendors of projects into the company, so they’re are also beneficiaries all the shares that came out of Escrow. We have a very good relationship with them and they have agreed
45 that in general, if they are intending to sell some shares that they will speak to me first and I’ll endeavour to place in what with institutions and that we’re not going to disturb or upset the market at all. So, as best as we can we always, we’re aiming maintain shareholder value and output ripples into the market. Unfortunately, overtaken by a tsunami at present little on the ripple but unfortunately, that is lost in the share market at the preset, Joel.
BRR It certainly is. Some very reassuring comments there, Andrew. Thanks for
5 your time and thank you for talking to Boardroom Radio.
MAK I’d like to say it’s a pleasure but maybe a little pleasing next time, Joel.
BRR Now, if you got any questions for Andrew about today’s broadcast please feel free to send through an e-mail. The address is brr@brr.com.au or you can use the Contact Us button on the home page. Thank you for listening.
INTERVIEW CONCLUDED
Contact brr@brr.com.au for more information
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