|All of MBMI's properties are located in the Philippines and are within the known nickel geological trends that contain and/or produce raw nickel materials. Each of the properties has had historic exploration activity which has confirmed the presence of nickel mineralization.
The Company is focused on identifying and developing high-grade nickel zones which can support Direct Shipping Operations ("DSO"). Under DSO, nickel laterite material is excavated and the resultant product is segregated according to grade. The material is then air dried to reduce the moisture content and blended to meet customer specifications. The blended material is then loaded on barges for transfer to ocean-going bulk ore freighters for sale to nickel processing plants. The material is sold for a percentage of the nickel price as stated by the London Metal Exchange ("LME").