Mineral Deposits (MDL)

Shares / Stock Code

MDL

Stock Exchange / Sharemarket

ax

Mineral Deposits (MDL) is a mineral resources company engaged in the exploration, mining and development of mineral sands and gold. The Company is principally focused on the development of its two key assets, the Sabodala Gold Project and the Grande Côte Mineral Sands Project, located in Senegal, West Africa. Mineral Deposits listed on the Australian Stock Exchange on 10th March, 1997. On 25 September 2008, the Company announced the receiving of a notification from Red Back Mining Inc. of Vancouver, Canada stating that it had taken over around 12.8% of the issued capital of MDL. During the fiscal year ended June 30, 2008, the Company and the Government of the Republic of Senegal (GRS) created two Senegalese operating companies, Grande Cote Operations SA and Sabodala Gold Operations SA, to carry out the construction of the two projects. Construction operations at Sabodala mine are almost completed. The Company is targeting production of heavy mineral sands products by late 2009. MDL has been undertaking the mineral sands dredging operations on the eastern seaboard of Australia producing premium zircon and rutile products for over 60 years. The Company has assembled a team of talented and highly experienced mining professionals and it aims to become a leading diversified mining company. Mineral Deposits is focusing growth by identifying further opportunities using the Groups exploration and development experience.

Mineral Deposits History

Mineral Deposits Limited (MDL) origins traces back to the Mineral Deposits Syndicate, which began operations in Southport, Queensland during 1940. The Company was renamed from Nimbus Resources NL to Mineral Deposits (MDL) and it listed on the ASX in April 1997.