08/10/2007

MPJ breakout, closed at 0.011 , it will begin to run very fast in the following weeks.

http://imagesignal.comsec.com.au/asxdata/20071001/pdf/00765124.pdf

Dear Shareholder,
The past financial year has been a major success for the Company. We have continued with our
exploration efforts at the Talga Peak Project in the Pilbara, where we have continued to record
interesting base metals results. The Company recently announced its EM survey results which
have highlighted a number of strong targets that warrant further drilling.
The major transformation over the past two years has been the growth of the Company’s balance
sheet, net profit and net tangible assets (NTA). In 2005-6 Mining Projects Group Limited
(“MPJ”) had net assets of $4.1m, reported a net operating loss of $4.6m, and had NTA backing
of approximately 0.27 cents per share. As at 30 June 2007 MPJ reported that net assets have
grown to $18.5m, a net profit of $6.5m and NTA backing of 1.23 cents per share, an increase
of approximately 350% over the period.
The favourable financial position in which the Company finds itself is the result of a number
of well executed business decisions that were implemented by the board over recent periods.
MPJ has consistently invested its funds in what it believes are worthwhile mining projects and
where appropriate, has elected to leverage those investments into shares and options in listed
public companies. The growth in the value of these investments has provided MPJ with a substantial
net asset position, principally in the form of listed securities. It is the intention of MPJ to realise
the value of some of these shareholdings and use the proceeds to acquire and develop new and
potentially valuable mining projects in its own right.
The Company has been delighted with its association with, and the performance of, companies
such as Atlas Iron Limited, Mintails Limited and Eleckra Mines Limited all of which have created
significant value for MPJ shareholders.
In terms of the reported net profit of $6.5m shareholders should note that these profits are yet to be
realised as they are based predominantly on the increase in the value of investments in the Company’s
portfolio, and may therefore be subject to market fluctuations, both positive and negative.
It has been a most rewarding year for the Company. however, it would be pleasing to see MPJ
shareholders rewarded through the MPJ share price more closely reflecting the Company’s
potential and intrinsic value.
It has been an excellent 12 months for MPJ and on behalf of the board I thank you for your
ongoing support.
Bryan J. Frost
Executive Chairman