ASX Small to Mid Caps
Sofitel Hotel, New York 3 March 2011 A unique opportunity to hear the latest business strategies and outlooks from a selection of emerging market leaders in the small and mid cap segment of the Australian market.
Supported by
MADISONWILLIAMS AND COMPANY Welcome
Welcome to ‘ASX Small to Mid Caps’, an event that aims to showcase some of Australia’s leading small and mid cap companies and at the same time provide a valuable snapshot of the significant opportunity for investment in the Australian Equity Market.
The ASX Small to Mid Caps conferences are going from strength to strength and this event is now the tenth in the global series and the fourth of its kind in New York. The development of the global series will continue through 2011, with the hosting of a conference in Toronto on 29 September, expanding the current locations of New York, London, Hong Kong and Singapore.
ASX Small to Mid Caps is brought about by the co-operation of the Australian Securities Exchange, the broker community in New York and the listed companies involved, all of whom are strong believers in the considerable investment fundamentals of the Australian market.
The support from the broker and investment banking community in New York has continued with major international brokers, investment banks and other organizations offering their support to the event, and extending invitations to their respective clients.
The companies involved in the event, with capitalizations generally below A$2 billion, represent an important sector of the Australian market that does not always get the international exposure it deserves. Importantly, from the US investor perspective it will be an opportunity to meet a broad representation of companies from a variety of sectors in one single event.
A clear take-out from the day will be the excellent exposure investment in the Australian Equity Market provides to the ongoing and projected growth of emerging economies in the Asia-Pacific region – exposure which is importantly provided within a stable and reputable market environment.
We would like to thank all of our event supporters and our participating ASX listed companies in helping to make this event such a great success and we look forward to seeing you again in 2012.
Robert Elstone Managing Director and CEO Australian Securities Exchange Agenda
Thursday March 3 8:30am Registration and breakfast 8:45am Welcome Address - ASX 8:50am Mincor Resources NL 9:15am Coalspur Mines Limited 9:40am Atlas Iron Limited 10:05am Ivanhoe Australia Limited 10:30am Carbon Energy Limited 10:55am Morning break 11:10am Jabiru Metals Limited 11:35am Cockatoo Coal Limited 12:00pm Murchison Metals Limited 12:25pm Kingsgate Consolidated Limited 12:50pm Lunch 1:30pm Imdex Limited 1:55pm FlexiGroup Limited 2:20pm Cromwell Property Group 2:45pm Mesoblast Limited 3:10pm Afternoon break 3:25pm Lynas Corporation Limited 3:50pm Brockman Resources Limited 4:15pm Beach Energy Limited 4:40pm Eastern Star Gas Limited 5:05pm Close of conference 8:00am – 5:30pm One-on-One meetings 5:00pm – 6:00pm Drinks reception General Information
Venue details Name badges Sofitel Hotel You should have been issued with a name badge on 45 West 44th Street registration. If you have not received one, report to the New York, USA 10036 Registration Desk. Tel: +1 212 354 8844 Fax: +1 212 354 2480 Access to company presentations post-event Company presentations and videos will be made available The welcome address and presentations by the ASX listed following the conference at companies are being held in Montmartre (level 2) of the www.asx.com.au/smalltomidcaps/newyork Sofitel Hotel. ASX contact details One-on-one meetings Laura McCrackle One-on-one meetings between investors and ASX listed Event Manager companies are being held on level 2 and level 3. For each +61 488 583 999 or [email protected] meeting scheduled you will be informed of the room name via our online booking agenda. To book or make changes David Mitchell to any one-on-one meetings, report to Karen Payne at the Regional Manager, North America ‘One-on-one Concierge Desk’ on level 2. Karen will check +1 312 788 3363 or [email protected] availability and schedule a meeting for you.
All content is provided by the conference supporters and listed companies; ASX takes no responsibility for the information included. 8.50am – Mincor Resources NL (ASX: MCR)
Mincor is a leading Australian nickel producer. The Significant Contractual Arrangements Company operates two mining centers in the world- Mincor has a long-term offtake agreement with BHP class Kambalda Nickel District of Western Australia, Billiton (Nickel West) under which Mincor delivers ore and has been in successful production since 2001. to BHPB’s concentrator plant at Kambalda, and pays To date Mincor has generated net profits after tax of BHPB a tolling fee to convert the ore into concentrate. more than A$258 million and has paid regular fully- Mincor then sells the concentrate to BHPB on industry franked dividends since 2003. The Company forms standard terms and conditions. The current offtake part of the benchmark S&P/ASX 200 Index. The agreements expire in 2019. Company has 200 million shares on issue and has a All of Mincor’s operations are 100% owned except strong institutional and retail shareholder base and an for Carnilya Hill, which is 70% owned and operated by open share register. Mincor. Mincor has an exceptionally strong balance sheet with no debt and more than A$100 million in cash. Resources / Reserves Estimates Resources and Reserves at 30 June 2010: Operations • Mineral Resources (all categories): 4.048 million Mincor produced 11,800 tonnes of nickel in ore during tonnes @ 3.7% Nickel for 150,700 tonnes the Financial Year 2009/10 and this is expected to contained Nickel rise over the next two years to between 15,000 and • Ore Reserves (all categories): 1.746 million tonnes 16,000 tonnes nickel in ore for 2011/12. Mincor’s @ 2.9% Nickel for 50,200 tonnes contained Nickel mines are high-grade, narrow-vein underground nickel sulphide operations. The Company currently operates Future Outlook four nickel mines and is one of the most active base Building on its recent exploration success and with metal explorers in Australia, with an exploration budget the restart of its Miitel Mine, Mincor is targeting a 35% this year of A$15 million. increase in nickel production over the next two years. The Company will continue to invest heavily in the Recent Developments growth and development of its successful Kambalda Mincor announced a strong net profit after tax of business and will also use its strong balance sheet A$28.1million for the Financial Year ended 30 June to develop a pipe-line of growth assets outside 2010 – reflecting its successful management of the Kambalda. volatility of the Global Financial Crisis and its aftermath. Mincor also enjoyed substantial exploration success, replacing 140% of the nickel reserves it mined during the year. In July 2010 Mincor re-started production of its flagship Miitel Nickel Mine, which had been on care and maintenance since December 2008. Mincor Resources NL – Resources/Reserves continued Mineral Resources as at 30 June 2010
RESOURCE MEASURed indicaTed infeRRED TOTAL Tonnes ni Tonnes ni Tonnes ni Tonnes ni ni (%) (%) (%) (%) Tonnes Mariners 100,000 3.5 542,000 4.2 62,000 3.3 704,000 4.0 28,500 Redross 31,000 5.1 138,000 2.9 67,000 2.9 236,000 3.2 7,500 Burnett 250,000 3.7 250,000 3.7 9,400 Miitel 51,000 4.0 550,000 3.9 98,000 3.6 699,000 3.8 26,800 Wannaway 123,000 2.6 16,000 6.6 139,000 3.0 4,200 Carnilya Hill* 48,000 5.0 99,000 3.5 147,000 4.0 5,900 Otter Juan** 113,000 4.3 289,000 3.0 83,000 2.4 485,000 3.2 15,500 McMahon/Ken 249,000 2.9 79,000 6.2 328,000 3.7 12,200 Durkin 251,000 5.2 127,000 5.0 378,000 5.1 19,400 Gellatly 29,000 3.4 29,000 3.4 1,000 Stockwell 557,000 3.1 557,000 3.1 17,100 Cameron 96,000 3.3 96,000 3.3 3,200 Grand Total 343,000 4.2 2,923,000 3.6 782,000 4.0 4,048,000 3.7 150,700
• Figures have been rounded and hence may not add up exactly to the given totals. • Note that Resources are inclusive of Reserves. * Resources shown for Carnilya Hill are those attributable to Mincor – that is, 70% of the total Carnilya Hill Resource. ** Otter Juan includes Coronet and McCloy. Resources are estimated to a 1% nickel cut-off. No minimum mining width criteria are used. The Resource estimation is done using inverse distance or kriging methods, depending on the data density. Volume models are constructed using all available data including underground drive and stope mapping. Grade interpolation using assay results from diamond drill core and, in places, underground face samples. The information in this Public Report that relates to Mineral Resources is based on information compiled by Mr Robert Hartley, who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Hartley is a permanent employee of Mincor Resources NL. Mr Hartley has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity that he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Hartley consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
Ore Reserves as at 30 June 2010
RESERVE PROVED PROBABLE TOTAL Tonnes ni (%) Tonnes ni (%) Tonnes ni (%) ni Tonnes Mariners 77,000 2.4 447,000 3.2 524,000 3.1 16,300 Redross 33,000 3.5 33,000 3.5 1,200 Miitel 28,000 2.6 585,000 2.7 613,000 2.7 16,400 Wannaway 39,000 2.9 39,000 2.9 1,100 Carnilya Hill* 52,000 3.5 30,000 3.1 83,000 3.3 2,800 Otter Juan** 109,000 3.6 104,000 2.9 212,000 3.2 6,900 McMahon 242,000 2.3 242,000 2.3 5,600 Grand Total 299,000 3.2 1,447,000 2.8 1,746,000 2.9 50,200
• Figures have been rounded and hence may not add up exactly to the given totals. * Reserves for Carnilya Hill are those attributable to Mincor – that is, 70% of the total Carnilya Hill Reserve. ** Otter Juan includes Coronet and McCloy. Appropriate dilution for the various mining methods was applied to the Indicated and Measured Resources. Using a 1.5% nickel cut-off and minimum mining width criteria, areas were selected as being mineable. Additional modifying factors to account for ore loss, recovery, further dilution, etc were then applied to achieve an estimated Reserve. The information in this Public Report that relates to Ore Reserves is based on information compiled by Mr Steve Cowle, who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Cowle is a permanent employee of Mincor Resources NL. Mr Cowle has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity that he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Cowle consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. 9.15am – Coalspur Mines Limited (ASX: CPL, TSX: CPT)
Coalspur Mines Ltd (Coalspur) is a coal exploration which the Company believes has the potential to host and development company with over 32,000 hectares a significant coal resource. First phase drilling in the of coal exploration leases located within the Hinton area together with existing historical information has region of Alberta, Canada. Coalspur’s flagship coal allowed the Company to define an initial Measured and project is the Vista Coal Project which has the potential Indicated Coal Resource of 93 million tonnes. Further to be one of the largest export thermal coal mines in drilling and potential resource upgrades are scheduled North America. during 2011 on Vista South. The Vista Coal Project covers approximately 8,700 Coalspur has offices in Calgary and Hinton in hectares and contains over 20km of continuous gently Canada as well as in Australia. The Company’s goal is dipping strike length and a Measured and Indicated to develop a major new thermal export coal region in Coal Resource base of over 900 million tonnes of Alberta to meet growing energy demands worldwide low sulphur, high volatile bituminous, export quality and in particular of the insatiable Asia Pacific market. thermal coal. The Company’s recently completed Pre-Feasibility Study (PFS) defined an initial marketable Recent Developments reserve of over 260 million tonnes on the Vista Coal • Completion of the positive Pre-Feasibility Study Project which makes it one of the largest undeveloped • Definition of maiden Marketable Coal Reserves of export orientated thermal coal projects in North 260 million tonnes America. The PFS was undertaken by Wardrop, a Tetra • Appointment of Denis Turcotte as Non-Executive Tech company, one of North America’s leading coal Director industry engineering consulting firms. The PFS defined a 31 year mine life producing approximately 9.0 million Resources/Reserves Estimates tonnes per annum (Mtpa) of saleable coal from the • Proven and Probable Marketable Coal Reserve: processing of approximately 18.0Mtpa of run of mine 260 million tonnes (ROM) coal. Initial development costs for the Vista Coal • Measure, Indicated and Inferred Coal Resource: Project are expected to be ~C$580million. 1.37 billion tonnes The Vista Coal Project is able to leverage off already established first world infrastructure, with CN Future Outlook rail facilities located adjacent to the Project that are • Focusing on the commencement of the Bankable substantially underutilised and provide a rail track Feasibility Study suitable for the transport of coal to deepwater ports • Entering financing discussions with potential offtake with excess capacity that already service the growing and JV parties demand from the Asian Pacific Rim countries, including China, Japan and Korea. In addition the Company holds leases directly south west of the Vista Coal Project named Vista South. The Vista South Project area covers over 23,000 hectares extends for over 25km on each of the northern and southern limb of the Entrance Syncline Coalspur Mines Resources/Reserves – Continued
JORC / NI 43-101 Coal Reserves
Recoverable Coal Reserve Marketable Coal Reserve Proven Probable Proven Proven Probable Proven & Probable & Probable (Mt) (Mt) (Mt) (Mt) (Mt) (Mt) Export Product 349.2 79.5 428.7 185.9 42.7 228.7 Domestic Product 66.2 26.8 93.0 22.5 8.9 31.4 Coalspur Total Reserve 415.4 106.3 521.7 208.4 51.6 260.1
JORC / NI 43-101 Coal Resources
Measured indicated Measured & Indicated Inferred (Mt) (Mt) (Mt) (Mt) Vista Coal Project 588.9 331.6 920.5 282.3 Vista South Coal Project 51.5 41.9 93.3 75.0 Coalspur Total Resource 640.4 373.5 1,013.8 357.3
Competent Persons Statements The information in this news release that relates to Coal Resources is based on information compiled by Mr. Robert J. Morris, who is a Member of the Association of Professional Engineers, Geologists and Geophysicists of Alberta. Mr. Morris is a full-time employee of Moose Mountain Technical Services, who are consultants to Coalspur. Mr. Morris has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity he is undertaking to qualify as a “Competent Person” as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (“JORC Code”), and a “Qualified Person” under NI 43-101. Mr. Morris consents to the inclusion of such information in this news release in the form and context in which it appears. The information in this news release that relates to Coal Reserves is based on information compiled by Mr. Robert Fong, who is a Member of the Association of Professional Engineers, Geologists and Geophysicists of Alberta. Mr. Fong is an associate of Moose Mountain Technical Services, who are consultants to Coalspur. Mr. Fong has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity he is undertaking to qualify as a “Competent Person” as defined in the 2004 Edition of the JORC Code, and a “Qualified Person” under NI 43-101. Mr. Fong consents to the inclusion of such information in this news release in the form and context in which it appears. All other scientific and technical information in this news release is based on information compiled by Mr. Eugene Wusaty, who is a Member of the Association of Professional Engineers and Geoscientists of Alberta. Mr. Wusaty is a full-time employee of Coalspur. Mr. Wusaty has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a “Competent Person” as defined in the JORC Code, and a “Qualified Person” under NI 43-101. Mr. Wusaty consents to the inclusion of such information in this news release in the form and context in which it appears. 9.40am – Atlas Iron Limited (ASX: AGO)
Atlas is an Australian iron ore producer which Significant Contractual Arrangements commenced production and exports from its 100% • 100% of the DSO ore production from Pardoo is owned Pardoo DSO (Direct Shipping Ore) Project in covered by four separate off-take agreements with late 2008. mid-sized Chinese steel mills. Mining commenced at Atlas’ second mine, the • 30% of the DSO ore production from the Wodgina Wodgina DSO Project in June 2010. The current DSO mine is covered by two separate off-take production rate is 6Mtpa. arrangements with mid-sized Chinese steel mills. The development of the Abydos and Mt Webber Off take negotiations continue for the remaining mining areas via the Turner River Hub with export Wodgina production. tonnages from Pardoo and Wodgina will underpin • Port access rights at the Utah Point port facility of Atlas’ objective of increasing DSO production rate to up to 15Mtpa. 12Mtpa by December 2012. Atlas is an active explorer and developer focused Future Outlook on the discovery and development of high quality iron • Further growth in resources and reserves – ore projects within its extensive 15,000km2 Pilbara exploration target of 400-750Mt of DSO grading landholding, with the principal projects located close 57-60% Fe to existing infrastructure and within a 150km radius of • Targeting a combined annualised production rate of Port Hedland. 12Mtpa by the end of 2012 via the Turner River Hub • Maintain a dynamic, safe, productive and family Recent Developments friendly workplace that continues to attract and Atlas has pursued an aggressive exploration retain a high calibre workforce campaign, which has delivered significant increases • Create the largest positive impact on the largest in Direct Shipping Ore (DSO) resources. Furthermore, number of people Atlas completed a merger with the formally ASX listed • Deliver strong positive and sustainable indigenous Aurox Resources in August 2010 and is currently in outcomes. the middle of a takeover offer for Giralia Resources NL (ASX Code: GIR).
Operations • Currently mining at the Pardoo DSO Project and the Wodgina DSO Project • Actively exploring south of Port Hedland at Wodgina, Mt Webber, Abydos and Newman • Resource and reserve definition ongoing at Wodgina, Abydos, Mt Webber and South East Pilbara Atlas Iron Limited – Resources/Reserves Estimates
Atlas Summary Reserves Table - June 30th 2010
Reserve Kt Fe SiO2 Al2O3 P S LOI CaFe Classification (%) (%) (%) (%) (%) (%) (%) Sub Proven 14,273 58.2 5.5 1.5 0.09 0.05 8.7 63.7 Total Probable 39,418 57.5 6.2 1.9 0.08 0.03 8.9 63.1 Grand All Reserves 53,691 57.7 6.0 1.8 0.08 0.03 8.8 63.2 Total**
Note: Bedded Ore Reserves estimated at cut-off grades in the range of 54-56% Fe
**Reserves at Mt Webber are subject to Joint Venture interests in the ratio AGO 70% : AJM 30%. The Reserves have been estimated in compliance with the JORC Code (see Attachment 1 for further details)
Reserve Estimation The information in this report that relates to Reserve estimations is based on information compiled by Mr Ken Brinsden, who is a member of the Australasian Institute of Mining and Metallurgy. Ken Brinsden is a full time employee of Atlas Iron Limited. Ken Brinsden has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Ken Brinsden consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
Atlas Iron Limited – DSO Mineral Resources, 1st January 2011
Project Resource Kt Fe SiO2 Al2O3 P S LOI CaFe Area Classification (%) (%) (%) (%) (%) (%) (%) (%) Measured 15,430 57.8 5.9 1.5 0.08 0.06 8.7 63.3 Total* Indicated 54,000 56.7 7.1 2.0 0.08 0.03 8.8 62.2 Inferred 185,000 56.7 6.7 3.3 0.09 0.03 8.0 61.6 Grand 254,430 56.8 6.7 2.9 0.09 0.03 8.2 61.8 Total
Note: Atlas Iron DSO resource table as at 1 January 2011
Geological Data, Interpretation and Resource Estimation – DSO Mineral Resources The information in this report that relates to mineral resource results is based on information compiled by Mr Steve Warner who is a member of the Australasian Institute of Mining and Metallurgy and a full time employee of Atlas Iron Limited. Steve Warner has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he has undertaken to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Steve Warner consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. 10.05am – Ivanhoe Australia Limited (ASX: IVA, TSX: IVA)
Ivanhoe Australia (IAL) is focused on the exploration • In September, the Company raised approximately for, and development of, minerals in northwest A$269million (gross) by way of a 1-for-4 rights Queensland near Cloncurry, Australia. The Company’s issue with each unit issued comprising one key projects include: ordinary share and one-half option (warrant). • The Merlin Project including Little Wizard, the Each full warrant entitles the holder to acquire world’s highest grade molybdenum and rhenium one ordinary share until September 20, 2011 at a deposit price of A$3.38. Full exercise of these options is • The Osborne Operation expected to raise a further A$158million • The Mount Elliott Project • In October, IAL announced a 20% increase in the • The Starra Line Project estimated mineral resources for Mount Elliott • The Mount Dore Project • In August, the Company announced a 9% increase in the estimated contained molybdenum IAL intends to process copper-gold and Merlin ores content within the Merlin mineral resource. Work through its Osborne operating facilities, with first has commenced on the construction of the production anticipated in 2012. underground access to a planned mining operation on the Merlin deposit; with the first cut fired in Operations December IAL holds title to tenements covering approximately • IAL’s securities commenced trading on the TSX in 5,000 km2 (including exploration permits for minerals November applications). The Company has identified a number of significant prospects on this ground including: Significant Contractual Arrangements • Mount Dore Project: Merlin/Little Wizard scheduled IAL also holds significant equity investments in: for start-up in 2012 • Exco (IAL: 22.8%) holds interests in approximately • Osborne Operation: copper-gold resources 4,300 km2 of tenements in the Cloncurry district, • Mount Elliott Project: copper-gold resources which are prospective for copper-gold resources • Starra Line Project: copper-gold resources (IAL is earning an 80% interest in selected ground). (potential feed to Osborne Operation) Exco also owns a 75% interest in the White Dam • Barnes Shaft Prospect, recent intersection of 29 gold mine in South Australia meters @3.21% Cu and 3.37g/t Au from 210m • Emmerson (IAL: 10%) holds interests in down hole approximately 2,700 km2 of tenements in the Tennant Creek Mineral Field, Northern Territory, Recent Developments which are prospective for gold resources • IAL acquired the Osborne Operation from Barrick Gold Corporation in September 2010. The Osborne Operation includes the Osborne underground and open pit mines, the Kulthor deposit, 2mtpa flotation concentrator, power station, 470-person camp, underground mining and mobile fleet and several hundred square kilometers of exploration tenements. IAL plans to recommence production at Osborne by March 2012 Resources/Reserves Estimates Future Outlook The Company’s Mineral Resources include: IAL’s key objectives for 2011 include: • Merlin: 6.7Mt @ 1.34% Mo, 23.2g/t Re (including • Integration of the Osborne Operation 6.5Mt indicated and 0.2Mt inferred) • Advance planning for the recommencement of • Mount Dore: 144Mt @ 0.52% Cu (including 86.5Mt copper-gold mining and treatment of ore sources indicated and 57.9Mt inferred) nearby the Osborne Operation • Mount Elliott: 570Mt @ 0.44% Cu, 0.26g/t Au, • Continued drilling to expand known resources and comprising 210Mt indicated and 357Mt inferred investigate exploration prospects including Barnes (including SWAN High Grade Zone: 62Mt @ Shaft and Houdini 1.41% eCu1 comprising 38Mt indicated and 24Mt inferred) • Starra Line: 30Mt @ 0.9% Cu, 0.8g/t Au (including 20.5Mt indicated and 9.8Mt inferred) • Osborne: 4.8Mt @ 1.4% Cu, 0.9g/t Au (including 0.2Mt measured, 2.9Mt indicated and 1.7Mt inferred)
Note: eCu is calculated as follows: Cu(%) + Au(g/t) * 0.7 + U(ppm) (where U>100 ppm)
Competent Persons Statement The information in this document that relates to: • Mineral resource estimates on Mount Dore, including Merlin and Little Wizard, are based on information compiled by John Horton, who is a Member of the Australasian Institute of Mining and Metallurgy • Mineral resource estimates for the Mount Elliott resource are based on information compiled by Rod Webster, who is a Member of the Australasian Institute of Mining and Metallurgy • Mineral resource estimates for the Starra Line 222 and 276 indicated and inferred resources are based on information compiled by Michael Job who is a Member of the Australasian Institute of Mining and Metallurgy • Mineral resource estimates for the Osborne Operation are based on information compiled by David Crimeen who is a Member of the Australasian Institute of Mining and Metallurgy; • Exploration results for the Barnes Shaft prospect are based on information compiled by Paul Carter who is a member of The South African Council for Natural Scientific Professions, a ‘Recognised Overseas Professional Organisation’ included in the current list of such organisations promulgated by the ASX
John Horton is employed by the independent consulting firm Golder Associates Pty Ltd. Rod Webster is employed by the independent consulting firm AMC Consultants Pty Ltd. Michael Job is employed by the independent consulting firm Quantitative Group. David Crimeen and Paul Carter are full-time employees of Ivanhoe Australia. Each of John Horton, Rod Webster, Michael Job, David Crimeen and Paul Carter has sufficient experience which is relevant to the style of mineralisation and type of deposit and mineralisation under consideration by them and to the activity which they are undertaking to qualify as a ‘Competent Person’ as defined in JORC. John Horton is also an independent qualified person within the meaning of NI 43-101. Each of John Horton, Rod Webster, Michael Job, David Crimeen and Paul Carter consent to the inclusion in this document of the matters based on their information in the form and context in which it appears, and has not withdrawn their consent before the date of this document. 10.30am – Carbon Energy Limited (ASX: CNX)
Carbon Energy is a Queensland-based company Resources / Reserves Estimates focused on producing clean energy and chemicals from the process of Underground Coal Gasification Area Category Gross Gas (UCG). The Company’s world-leading technology Volumes was developed over 10 years by CSIRO. Carbon Bloodwood 1P Reserve (Proven) 11.0 Creek Energy’s unique approach to UCG syngas production 2P Reserve (Proven + 743.9 Probable) enables a more efficient means of capturing carbon EPC 867 3P Reserve (Proven + 1042.8 dioxide giving the Company an added advantage (including MDL 374) Probable + Possible) for generating low-emission energy from previously stranded coal deposits. The reserve estimates used in this document were compiled by Mr Timothy Hower of MHA Petroleum Recent Developments Consultants, Colorado, USA, a qualified person under • Concept Study into Ammonia and Synthetic Natural ASX Listing Rule 5.11. Mr Hower has consented to Gas completed the use of the reserve information contained within this • Successful completion of $20 million Capital document in the form and context in which it appears. Raising • Phase 2 Power Station Development Agreement Future Outlook executed with Arcadia Energy Trading • Commissioning 5MW Power Station at Bloodwood • Drilling Program for UCG Panel 2 successfully Creek completed • Completion of surface facilities for UCG Panel 3 • Environmental Approval obtained for UCG project in • Securing Power Purchase Agreement for Carbon Chile Energy’s planned 25MW Power Station • Progress Mining Lease application for Phase 3 – Significant Contractual Arrangements Blue Gum Energy Park • Power Station Development Agreement executed • Prefeasibility study into Ammonia and Synthetic with Arcadia Energy Trading Natural Gas production • Agreement with Antofagasta Minerals to develop • Drilling and construction of the first UCG panel in international power project in Chile Chile • Commercial contract for power generation signed • Front End Engineering and Design for the above with Ergon Energy ground operational facilities in Chile 11.10am – Jabiru Metals Limited (ASX: JML)
Jabiru is an emerging low cost LME metals producer Future Outlook listed on ASX. While Jabiru is maintaining a watching brief on external Jabiru commissioned the newly discovered Jaguar opportunities, the Company is fortunate in having copper/zinc/silver mine in 2007, producing copper a strong internal growth pipeline. Two stages of and zinc concentrates. The Jaguar operation is now increased production are envisaged at Jaguar in later recognized as one of the lowest cost base metal 2011, and mid 2012, plus the development of the mines on the world zinc cost curve. significantly larger Stockman project in Victoria over the In 2007, Jabiru also successfully won the next two years. competitive tender bid with the Victorian State Government for the Stockman project in East Gippsland, Victoria, Australia. The Company has completed a Scoping Study and is now commencing a definitive feasibility study into the development of the Stockman Project.
Recent Developments Jabiru discovered the Bentley high grade Cu-Zn-Pb-Au-Ag resource in late 2009. Bentley is only 4.6km south of the Jaguar mine. The massive sulphide mineralization at Bentley is similar to the deposit currently being mined at Jaguar and the deposit previously mined at Teutonic Bore. The Bentley resource will be treated through the Jaguar concentrator, with underground development already well advanced and first ore expected in July 2011. 11.35am – Cockatoo Coal Limited (ASX: COK)
Cockatoo Coal Limited is a rapidly growing Australian Future Outlook coal producer and project developer which listed on Cockatoo Coal Limited is now well advanced in the ASX in December 2005. The Company is planning planning a further 2-stage upgrade of Bowen Basin aggressive expansion from its 600,000tpa Baralaba output to: PCI coal mine in the Bowen Basin, Queensland, as ~750,000tpa from 2011/12, then to 3.5Mtpa (85% well as developing several other advanced-stage coal PCI coal) from 2013/2014 projects in Queensland and New South Wales. The Company posted its inaugural NPAT of Beyond this, the Company has a comprehensive suite A$3.5million in the 2010 Financial Year, has a 1.13Bt of interests in strategic coal projects that are to come global JORC equity resource coal portfolio, and is online progressively from 2015/16, that include the: currently capitalized at approximately A$500million. Several major international coal industry participants Surat Basin group of projects, Queensland have entered the Cockatoo Coal share register, 4000+sq km portfolio of mine development and including POSCO, KEPCO, SK Corporation and PT exploration leases in Australia’s next major thermal Harum. coal province, that incorporate four advanced stage projects in Woori and Tin Hut Creek (100%) and Recent Developments Collingwood and Taroom (51%), and the Mitsui Cockatoo Coal achieved a successful 12-month, Corporation as 49% JV partner on two key projects. 100% production expansion at the Baralaba PCI coal mine in 2009/10 after purchasing the mine interest Bylong Project, New South Wales from Peabody Energy, in December 2008. • 423Mt, 7.5Mtpa concept output PCI/Thermal While Baralaba was among a number of project Queensland coal mines closed by the State’s recent • 100% KEPCO owned record 2011 floods, work on returning the operation • COK contracted project development manager and to normal production levels is proceeding well, as the holder of 30%, 3 year call option Company looks to deliver coal into a strong PCI and thermal coal market during the first half of 2011. Hume Project, New South Wales • 115Mt, 2Mtpa concept output HCC project Significant Contractual Arrangements • 70% POSCO, 30% Cockatoo Coal Existing sales relationships in regard to Baralaba • COK contracted project development manager coal include Sumitomo, Nippon Steel, JFE Steel, POSCO and KEPCO. Cockatoo Coal Limited also has memorandums of understanding with POSCO and KEPCO, providing those companies with first option to buy 1Mtpa PCI coal and 2Mtpa thermal coal, respectively. These agreements are both subject to market pricing, and would be applicable as and when Cockatoo’s production profile reaches those levels. Cockatoo Coal – Total Project Reserves and Resources Bowen Basin Projects Reserves (Mt) Resources (Mt) Proven Probable Total Measured indicated inferred Total Baralaba Mine 0.8 0.5 1.3 2.6 5.6 15.2 23.4 Baralaba North 6.4 6.4 0 9.4 36.4 45.8 Baralaba South 0 0 25.2 25.2 Wonbindi 25.8 25.8 0 44.7 19.4 64.1 Total Bowen Basin Projects 0.8 32.7 33.5 2.6 59.7 96.2 158.5
Surat Basin Projects Reserves (Mt) Resources (Mt) Proven Probable Total Measured indicated inferred Total Bottle Tree 32.5 32.5 Collingwood 64.5 172.4 236.9 Davies Road 75.6 75.6 Krugers 104.7 104.7 Taroom 36.4 89 72.8 198.2 Tin Hut Creek 112.2 69.1 181.3 Woori 40.6 40.6 84.3 84.3 Total Surat Basin Projects 40.6 0 40.6 156.2 394 642.1 1192.3
Other Projects Reserves (Mt) Resources (Mt) Proven Probable Total Measured indicated inferred Total Kingaroy 35.5 128.3 115 278.8
TOTAL ALL PROJECTS 41.4 32.7 74.1 194.3 582 853.3 1629.6
*As at December 31 2010 and reduced by subsequent production.
Competent Persons statement: The information in this communication that relates to Exploration Results or Mineral Resources is based on information compiled by Dr Oliver Holm, geologist, who is a Member of the Australasian Institute of Mining and Metallurgy. Dr Holm is a full-time employee of the Company who has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Dr Holm has consented to the inclusion of the matters based on his information in the form and context in which they appear 12.00pm - Murchison Metals Limited (ASX: MMX)
Murchison Metals Limited is an Australian ASX Significant Contractual Arrangements listed company and is included in the S&P/ASX 200 Mitsubishi Development is a 50% partner in Index. The Company is a leading player in the rapidly Crosslands Resources and OPR. The State emerging Mid-West iron ore province of Western Government of Western Australia signed a State Australia, where it is establishing world-class iron ore Development Agreement with Murchison, Mitsubishi mining and infrastructure businesses. and OPR for development of the Oakajee port and Murchison is a 50% shareholder in Crosslands rail project in March 2009. The State and Federal Resources Ltd, the owner of the operating Jack Governments have also jointly committed A$678million Hills iron ore project north of Cue, and also has a to develop common user infrastructure at Oakajee 50% interest in Oakajee Port and Rail, a dedicated port, underlining its strategic and economic importance infrastructure provider which is developing a major to the State. deepwater iron ore port at Oakajee, north of Geraldton, and an associated heavy haulage rail network to Resources / Reserves Estimates service the region’s miners including Crosslands. Global in-situ Measured, Indicated and Inferred The remaining 50% of Crosslands and OPR is held resources at the Jack Hills project are estimated by Mitsubishi Development Pty Ltd, a subsidiary of at 3.22 billion tonnes grading 32.3% Fe. Jack Hills Mitsubishi Corporation, Japan’s largest general trading tonnes are dry metric tonnes. The main Jack Hills company. Mineral Resource estimate is comprised of 902Mt Murchison also owns 100% of the advanced of Measured at 32.3%Fe and 23.9%DTR, indicated Rocklea iron ore project in the Pilbara. of 1256Mt at 32.2%Fe and 28.1%DTR and inferred of 1060Mt at 32.3%Fe and 27.0%DTR. The Brindal Operations Inferred Mineral Resource estimate is 11.1Mt at Jack Hills Stage 1 iron ore mine, currently producing 46.5%Fe and 2.8%DTR. approx 1.5mtpa of high grade iron ore lump and fines Competent Persons Statement (owned and operated by Crosslands Resources), The information in this announcement that relates to Exploration Results trucked to Geraldton port for export to Asia. and geological and mineralogical interpretations of the Mineral Resource estimate of the Jack Hills Project is based on information compiled by Mr Roland Bartsch. Mr Bartsch is a full time employee of Crosslands Resources Ltd and is a Member of the Australasian Institute of Mining & Recent Developments Metallurgy. The information in this announcement that relates to Mineral Resources To date, Murchison and Mitsubishi have expended of the Jack Hills Project is based on information compiled by Mr Bruce Sommerville in his capacity as an employee of SRK Consulting. Mr $370 million on advancing the Oakajee infrastructure Sommerville is a Member of the Australasian Institute of Mining & project and proposed Jack Hills Expansion Project, Metallurgy. Mr Bartsch and Mr Sommerville have sufficient experience which is relevant with bankable feasibility studies for both, on track for to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as competent persons completion in the June 2011 quarter. as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Bartsch and Mr Sommerville consent (or have previously consented to) to the inclusion in the report of the matters based on their information in the form and context in which it appears.
Future Outlook Murchison and Mitsubishi anticipate project go-ahead for both the Oakajee and Jack Hills Expansion Project in early 2012, enabling first exports through the Oakajee port in late 2014/early 2015. Murchison Metals Resources / Reserves – Continued Jack Hills Deposit Mineral Resource Summary Table (July 2010, SRK Consulting)
JORC Category Cut-off % Fe Dry Tonnes (x 106) Fe % DTR % In Situ Banded Iron Formation (BIF-BFO) Measured 22 834 30.7 22.2 Indicated 22 1,160 30.5 27.5 Inferred 22 877 30.9 29.2 Sub Total All 22 2,871 30.7 26.5 In Situ Detrital Deposits (DID-BFO)1 Measured 22 0 0 0 Indicated 22 0 0 0 Inferred 22 118 32.6 3.6 Sub Total All 22 118 32.6 3.6 In Situ Massive Iron Mineralisation 0 - 50% Fe, Potential Jig feed or BFO (MIM-JIG) Measured 0 to 50 31 45.6 38.6 Indicated 0 to 50 35 45.4 36.5 Inferred 0 to 50 31 45.6 38.6 Sub Total All 0 to 50 96 45.5 37.9 >50% Fe, DSO (MIM-DSO) Measured 50 38 57.4 47.6 Indicated 50 61 56.3 34.6 Inferred 50 34 54.5 42.0 Sub Total All 50 133 56.1 40.2 Total Measured 902 32.3 23.9 Total Indicated 1,256 32.2 28.1 Total Inferred 1,060 32.3 27.0 Total All 3,218 32.2 26.6
Brindal Deposit Mineral Resource Summary Table (July 2010, SRK Consulting)
JORC Category Cut-off % Fe Dry Tonnes (x 106) Fe % DTR % In Situ Banded Iron Formation (BIF-BFO) Measured 22 0 0 0 Indicated 22 0 0 0 Inferred 22 5 27.8 1.7 Sub Total All 22 5.1 27.8 1.7 In Situ Massive Iron Mineralisation 0 - 50% Fe, Potential Jig feed or BFO (MIM-JIG) Measured 0 to 50 0 0 0 Indicated 0 to 50 0 0 0 Inferred 0 to 50 0.1 44.1 4.6
Sub Total All 0 to 50 0.1 4 4.1 4.6 >50% Fe, DSO (MIM-DSO) Measured 50 0 0 0 Indicated 50 0 0 0 Inferred 50 5.9 62.8 3.6 Sub Total All 50 5.9 62.8 3.6 Total Measured 0 0 0 Total Indicated 0 0 0 Total Inferred 11.1 46.5 2.8 Total All 11.1 46.5 2.8
1. Mineral Resources are based on drilling & assaying completed on 30 April, 2010 and actual pit limit surveyed on 30 May, 2010 2. Banded Iron Formation (BIF), previously reported as BFO. 3. Massive Iron Mineralisation, previously reported as DSO. 4. Tonnages are dry metric tonnes. Tonnages have been rounded, hence small difference may be present in the totals. 5. DTR = Davis Tube Recovery (grind size, P100 45μ). 6. Detrital resources are shallow deposits located on the north western side of the Jack Hills ridge. Detrital material is currently accessible, however, this area is being investigated for tailings and mine waste disposal and as such there is some potential that this material will not be available economic extraction in the future. 12.25pm – Kingsgate Consolidated Limited (ASX: KCN, OTC: KSKGY)
Kingsgate: a low cost, unhedged, mid-tier gold Operations producer – second largest gold producer listed on the • Chatree/Chatree North Gold Mine – 280km north ASX. of Bangkok Production at Chatree in central Thailand was • Exploration properties around Chatree; New gold ~132,000 oz gold at US$335/ounce cash costs (June discoveries – Chokdee and Suwan year 2010). Construction of an expanded processing plant will double throughput to over 5 million tonnes/ Recent Developments year in mid 2011 and increase the gold production • Production rate to increase to above 200,000 rate to above 200,000 ounces gold/year. Chatree is ounces gold per year from mid 2011 a major gold deposit with over 4 million ounces gold • Rated third best performing stock on S&P/ASX200 resource and an expanding resource and reserve for last decade by Australian Financial Review on base through an aggressive drilling program within its Bloomberg data mining leases. Potential satellite pits within trucking distance have recently been identified, as well as new Resources / Reserves Estimates gold discoveries within this developing world-class • Mineral Resource: 82Mt at 0.9g/t for 4.3Moz gold. gold province. (At Chatree) • Ore Reserve: 37Mt at 1.0g/t for 1.9Moz gold. (At Recent Highlights Chatree) • Full year (June 2010) production: 132,628 ounces at US$335/ounce cash costs Future Outlook • Reserves increased to 1.9 million ounces; • Complete plant expansion to over 5 MTPA by mid Resources 4.3 million ounces gold. Approximately 2011 12 years mine life with expanded plant and • Successfully complete the acquisitions of Dominion increased resources and Laguna and their integration with Kingsgate • Plant expansion under construction to take • Define high grade under ground resources of throughput from 2.4 to over 5 million tonnes/year. Chatree Completion expected in September quarter 2011 • Major resource/reserve development program underway to extend open pits and confirm under ground potential • Chatree continues to be the world’s safest gold mine with over 7 years without an LTI • Takeover offer for Dominion announced 20 October 2010 • Takeover offer for Laguna Resources announced on 25 October 2010 Kingsgate Consolidated Resources / Reserves - Continued
Chatree Ore Reserves as at 30Jun2010 (>0.4g/t Au cut-off grade)
Tonnes Source Category Grade Contained Ounces (Million Tonnes) gold Silver gold silver (g/t) (g/t) (Million Oz) (Million Oz) Chatree/Chatree North Proved 37.4 1.00 9.5 1.20 11.42 Mining Leases Probable 18.7 0.98 8.4 0.59 5.02 Stockpiles 5.6 0.79 12.1 0.14 2.19 Chatree Total 61.7 0.97 9.4 1.93 18.63
Chatree Mineral Resources Inclusive of Ore Reserves as at 30Jun2010 (>0.3g/t Au cut-off grade)
Tonnes Source Category Grade Contained Ounces (Million Tonnes) gold Silver gold silver (g/t) (g/t) (Million Oz) (Million Oz) Chatree/Chatree North Measured 79.8 0.81 7.4 2.07 18.85 District Indicated 56.7 0.76 6.1 1.39 11.07 Inferred 31.4 0.71 4.8 0.72 4.86 Stockpiles 5.6 0.79 12.1 0.14 2.19 Chatree Total 173.5 0.77 6.6 4.32 36.97
Competent Persons Statement Information in this report relates to Exploration Results, Mineral Resource and Ore Reserve estimates based on information compiled by the following Competent Persons: Ron James, Genesio Circosta, Fiona Davidson, Mike Garman, Guy Davies and Suphanit Suphananthi who are employees of the Kingsgate Group and members of The Australasian Institute of Mining and Metallurgy, and Rob Spiers who is an Independent reviewer and employee of Hellman & Schofield Pty Ltd and Member of the Australian Institute of Geoscientists. These people qualify as Competent Persons as defined in the Australasian code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code, 2004 edition) and possess relevant experience in relation to the mineralisation being reported herein as Exploration Results, Mineral Resources and Ore Reserves. Each Competent Person, with the exception of Rob Spiers solely for the Q Prospect, has consented to the Public Reporting of these statements and the inclusion of the material in the form and context in which it appears. 1.30pm – Imdex Limited (ASX: IMD)
Imdex is a Perth based public company listed on ASX, Significant Contractual Arrangements whose core business is the supply of drilling fluids and Imdex has preferred supplier agreements with many chemicals and down hole to the global oil and gas, of the major mineral drilling contractors including Boart mining, water well, horizontal directional drilling and civil Longyear, Major Drilling, Layne Christensen, Energold, industries. Orbit Garant, Adviser Drilling, Foraco, Ausdrill and Swick Drilling. Operations • Two divisions: Drilling Fluids and Down Hole Instrumentation • Two main end markets: Mining, oil and gas • Global operations
Recent Developments Imdex has rebounded strongly from the Global Financial Crisis and had record 1H11 revenue and earnings. On 17 December 2010, Imdex announced the proposed acquisition of Mud-Data, a German based drilling fluids and equipment supplier to the oil and gas and geothermal industries in Europe. Imdex has also announced the commencement of a services joint venture for the provision of down hole survey and steering services to the global oil and gas industry. 1.55pm – FlexiGroup Limited (ASX: FXL)
A public company, FlexiGroup is a leading provider FlexiCommercial – Lease (typically commercial and of vendor and retail point-of-sale finance and larger sized transactions). Offered via Vendor Programs telecommunication services. and direct to medium and large businesses. Key Remaining true to its vendor finance beginnings Partners: Comscentre, M2 and Upstream. FlexiGroup’s four business streams offer a broad set of products and services that can adapt to the specific Blink – Mobile Broadband products and plans needs of vendor partners from small ticket, highly available from major national retail chains and many transactional needs through to larger commercial independent outlets. Launched in 2009 and operating transactions. Broadly, these products and services on the latest Optus dual band network, Blink is a include; lease, interest free, mobile broadband, natural inclusion when Flexirenting a notebook. cheque guarantee and travel loans. The company operates within a diverse range of commercial and Performance has been characterised by solid, consumer industries, including: IT and electrical, profitable growth as the company has expanded its telecommunications, home improvement, solar business through acquisition, product innovation and systems, medical, furnishings and travel. diversification. FlexiGroup has a simple ethos, embraced by its staff, which has underpinned its success… to Future Outlook make life ‘Too Easy’. This influences the day-to-day With new and existing committed funding, facilities are behaviour both internally and with their customers. in place to capitalise on diverse growth opportunities This philosophy has been instrumental in both through profit, acquisition, diversification and cementing long standing relationships with a number product innovation. FlexiGroup remains focused on of successful vendors and retailers throughout preserving its unique fast paced, fun culture with a Australia, New Zealand and Ireland. With a distribution team of talented people who challenge themselves network of approximately 11,000 active retailers, everyday to make it ‘Too Easy’ for customers, retailers products are offered through four key business areas: and shareholders to interact with the company at all levels of the business. Certegy – Interest Free (no interest ever and take home lay-by plan) and cheque guarantee services offered through diverse merchants. Key Partners: Modern Group, Midas, Michael Hill Jewellers and Freedom furniture.
Flexirent – Leases and Loans (consumer and commercial), includes valuable services such as ‘Protect’ and ‘Loaner’. Products offered via Computer, Electrical and other retailers. Key Partners: Harvey Norman, The Good Guys, Clive Peeters, Bing Lee, Noel Leeming, Apple Resellers and Flight Centre. 2.20pm – Cromwell Property Group (ASX: CMW)
Cromwell Property Group is an internally managed unlisted Cromwell Property Fund, being the one third REIT with an Australian property portfolio valued in of the TGA Property in Canberra that the Group did not excess of A$1.4billion and a funds management already own, and 321 Exhibition Street, Melbourne. business that promotes and manages unlisted It also entered into an unconditional contract for the property investments. The market capitalization of the Qantas Global Headquarters building in Sydney, which Group as at 31 December 2010 was A$692million. settled in August 2010.The acquisition of these three Cromwell’s income is underpinned by a focus on assets at what is widely considered to be the low point quality income producing office assets with strong tenant for the Australian commercial property market enhanced covenants. Cromwell aims for 4% annual growth in ‘like Cromwell’s existing portfolio quality and provides for like’ property income. significant upside potential for investors. During the Financial Year ended 30 June 2010, the The acquisition of the TGA Property and 321 Group delivered operating earnings of over $60million. Exhibition Street was funded through new debt The Group is on target to earn over 7 cents per security facilities and existing cash reserves. A $75million equity operating earnings in Financial Year 2011 with over raising and a new debt facility provided funding for the 95% from recurring property income. At the current acquisition of the Qantas Headquarters. The Qantas security price of A$0.76 cents this represents a yield of asset is a strategic fit for the Group’s portfolio, with a 10 approximately 9.2% on Financial Year 2011 distribution year lease term to a blue chip tenant. guidance of 7.0 cents per security. Cromwell’s Australian property focus enables it to Future Outlook provide a full suite of property related services including Cromwell is well placed to continue to deliver the deal sourcing, due diligence, property management, strong property income returns historically achieved, leasing, asset enhancement and realisation. whilst being able to take advantage of quality property Cromwell internally manages all of its properties to acquisition opportunities. Cromwell also intends to ensure buildings operate efficiently, projects are delivered actively pursue opportunities for corporate activity on time and on budget, and tenants are managed which add to the quality of the Group’s earnings and professionally, resulting in the most profitable outcome for the medium term growth potential of the Group. To investors. further strengthen the overall quality of the portfolio, management continues to divest smaller, non-core Recent Developments assets as the market improves. Cromwell actively manages the Group’s portfolio, looking to dispose of assets while the market is strong and acquire assets when opportunities present themselves. The Group sold A$273million of assets in 2007 at the height of the market and has acquired A$482million since the onset of the global financial crisis. In July 2010 Cromwell acquired two assets from the 2.45pm – Mesoblast Limited (ASX: MSB, ADR OTC: MBLTY)
Mesoblast Limited is a global biotechnology company Future Outlook developing innovative biological therapies for the Mesoblast is developing its patented adult stem cell emerging field of regenerative medicine. The Company technology platform for a broad range of conditions is commercializing adult stem cell-based products for including for the treatment of cardiovascular and large clinical indications with unmet clinical needs that neurological conditions, diabetes, eye diseases, bone present long-term sustainable market opportunities. marrow regeneration after cancer, bone fractures, cartilage degeneration of the knee and vertebrae and Recent Developments musculoskeletal conditions. In December 2010, Mesoblast acquired New York- In the United States, the world’s largest market for based Angioblast Systems Inc., a strategic acquisition health care products, Mesoblast has received rapid that resulted in Mesoblast owning all of the Intellectual clearances from the United States Food and Drug Property surrounding the proprietary Mesenchymal Administration (FDA) for multiple Phase 2 trials, and are Precursor Cells technology platform. progressing various products towards Phase 3 trials. Product registration and commercialization will require Significant Contractual Arrangements positive Phase 3 outcomes. Mesoblast has entered into a strategic alliance with Mesoblast is rapidly progressing towards Phase 3 global biopharmaceutical company, Cephalon Inc. product registration trials. (Nasdaq:CEPH), to develop and commercialize its Mesoblast will continue to target new opportunities adult stem cell therapeutics for degenerative conditions with clear, unmet clinical needs. of the central nervous and cardiovascular systems. The alliance also extends to products for augmenting bone marrow transplantation in cancer patients.
Intellectual Property/products/product development programs The Mesenchymal Precursor Cell technology platform is patented and has been exclusively acquired for worldwide commercial application. 3.25pm – Lynas Corporation Limited (ASX: LYC)
Lynas Corporation Ltd is an ASX listed company, with Recent Developments the strategy to create a reliable, fully integrated source Lynas is set to provide the first new source of supply of Rare Earths from mine through to market, and to of Rare Earths outside of China when it comes become the benchmark for the security of supply and into production in the third quarter of 2011. Lynas environmental standards in the global Rare Earths believes this timeframe puts them well ahead of their industry. competitors. Their customers’ requirements and The foundation of this strategy is Mount Weld in commitments are driving the business development Western Australia, the richest known deposit of Rare strategy for products to be produced, growth of Earths in the world, and a state-of-the-art Rare Earths production and collaboration with partners in the value processing plant, the Lynas Advanced Materials Plant chain. (LAMP), currently under construction near Kuantan in Pahang, Malaysia. Production is scheduled for third Significant Contractual Arrangements quarter of 2011. Lynas has six supply contracts and two letters of intent for product to be produced in Phase 1 and Phase 2 Operations of its production. In addition Lynas also has a strategic Lynas has four pillars that underpin its Operations. alliance with Sojitz, the Japanese Trading House with the largest Rare Earths distribution into Japan, for a Marketing and Sales minimum of 8,500 tonnes of product distributed into • Serving long term customer requirements and the Japan market. commitments, and thus providing input for plant extensions and new facilities. Future Outlook Lynas will be online in 2011, delivering Rare Earths Industrial globally. This is the first new production outside of • Key value drivers are responsible care, customer China. Production will be 11,000 REO by the end of satisfaction, asset optimisation and growth 2011; we intend to double this production in 2012. management.
Research and Technologies • Working with customers to analyse and develop technologies to enable a cost-effective product offering.
Business Excellence • Providing and optimising services to support cost- effective operations at the processing plants. Lynas Corporation Resources / Reserves Estimates
Classification of Mineral Resources for the Duncan Deposit
Duncan Deposit ‘000 tonnes REO (%) * TLnO (%) ** y2O3(ppm) Category Measured 3,650 5.5 5.2 2,700 Indicated 3,560 4.1 3.9 2,460 Inferred 410 4.3 4.1 2,360 Total 7,620 4.8 4.5 2,570
* REO (%) includes all the lanthanide elements plus Yttrium ** TLnO (%) includes all the lanthanides elements only (i.e. Yttrium is not included)
Classification of Mineral Resources for the Central Lanthanide Deposit
Central Lanthanide ‘000 tonnes REO (%) * TLnO (%) ** y2O3(ppm) Deposit Category Measured 3,550 14.4 14.3 820 Indicated 1,440 8.2 8.1 960 Inferred 4,884 8.6 8.5 1,120 Total 9,880 10.7 10.6 990
* REO (%) includes all the lanthanide elements plus Yttrium ** TLnO (%) includes all the lanthanides elements only (i.e. Yttrium is not included)
Classification of the Rare Earths Mineral Resources at Mount Weld
Category ‘000 tonnes REO (%) * TLnO (%) ** y2O3(ppm) Measured 7,200 9.8 9.7 1,770 Indicated 5,000 5.3 5.1 2,020 Inferred 5,290 8.3 8.2 1,210 Total 17,490 8.1 7.9 1,680
* REO (%) includes all the lanthanide elements plus Yttrium ** TLnO (%) includes all the lanthanides elements only (i.e. Yttrium is not included)
Competent Persons Statement The Resource estimates were prepared by Brendan Shand MAusIMM who is an employee of Lynas Corporation. Brendan Shand is a Competent Person as defined by the 2004 JORC Code. Information in this release relating to Resource estimates is based on and accurately reflects information provided by Brendan Shand who consents to the inclusion of the new Resource estimates. Brendan Shand consents to the inclusion of these results and the accompanying notes in the form and context in which they appear. 3.50pm – Brockman Resources Limited (ASX: BRM)
Brockman is an ASX-300 listed iron ore company • Negotiations with Fortescue Metals Group (ASX: which is poised to become a major player in the FMG) regarding an end-to-end rail haulage, port Australian iron ore sector by developing its flagship access and marketing service arrangement for Marillana Iron Ore Project, located 100km north-west Marillana are progressing. of Newman in Western Australia’s Pilbara region, the • Completion of a positive DFS for the Marillana heart of the Australian iron ore industry. Project, confirming the technical and financial Following completion of a positive Definitive viability of a large-scale project with production of Feasibility Study (DFS) in September 2010, Brockman 18.5Mtpa of high-grade product over a 25-year has immediately embarked on the next stage of mine life. a development timetable that is expected to see • Key DFS highlights included an estimated Net Marillana in full-scale production in 2014. With forecast Present Value (DcF @ 10%) range of A$2.3-2.6 production of 18.5Mtpa over a mine life of 25 years, billion, an Internal Rate of Return range of 27.7- Marillana is set to become one of the most significant 37.9% and a pre-production mine and capital rail new hematite projects to be developed in Australia. expenditure estimate of A$1.3-1.9 billion. The Company also has an extensive portfolio of • Proven and Probable Ore Reserve of 1.05 billion iron ore exploration projects throughout the Pilbara tonnes announced for the Marillana Project (predominantly the West Pilbara), providing a strong – confirming it as the fourth largest published future growth pipeline for the Company. hematite reserve in Australia. • Sintering testwork confirms the excellent sintering Operations characteristics of Marillana ore. Brockman’s principal operational focus is completion of the Bankable Feasibility Study (BFS) and Front End Future Outlook Engineering and Design (FEED) phase of the Marillana Brockman has a strong growth outlook, with 2011 Project ahead of a targeted Final Investment Decision expected to be a pivotal year for the financing and (FID) by the end of Q3 of CY2011. In addition, the development of the Marillana Project. Key targeted Company is continuing regional exploration activities milestones during CY 2011 include: within its portfolio of iron ore exploration projects in the • Completion of an Agreement with FMG regarding Pilbara, particularly the West Pilbara. rail haulage, port handling and ship-loading services, providing a comprehensive infrastructure Recent Developments solution for the Marillana Project • Environmental approvals for the development of the • Completion of the BFS for the Marillana Project Marillana Iron Ore Project were granted by the WA (Q1) Minister for Environment on 16 Februaey 2011 – • Completion of BFS and FID (Q3) Paving the way for construction commencement. • Completion of financing and commencement of • Award of the FEED contract for the Marillana Iron initial site construction activities (Q4) Ore Project to UGL Resources. Brockman Resources Limited – Resources / Reserves Estimates Marillana Detrital Ore Reserves
Class Tonnes (Mt) Grade (% Fe) Proven 133.2 41.55 Probable 868.0 42.48 Total Detrital Ore Reserve 1,001.2 42.36
Marillana CID Ore Reserves
Reserve Mt fe caFe* SiO2 AI2O3 P LOI Classification (%) (%) (%) (%) (%) (%) Probable 48.5 55.5 61.5 5.3 3.7 0.09 9.7 Total 48.5 55.5 61.5 5.3 3.7 0.09 9.7
* CaFe represents calcined Fe and is calculated by Brockman using the formula CaFe = Fe% / ((100-LOI%)/100)
Competent Person’s Statement The information in this report that relates to Mineral Resources and Ore Reserves is based on information compiled by Mr I Cooper, Mr J Farrell and Mr A Zhang. The Ore Reserves statement has been compiled in accordance with the guidelines defined in the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (The JORC Code – 2004 Edition). The Ore Reserves have been compiled by Iain Cooper of Golder Associates, who is a Member of Australasian Institute of Mining and Metallurgy. Mr Cooper has had sufficient experience in Ore Reserve estimation relevant to the style of mineralisation and type of deposit under consideration to qualify as Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting of Mineral Resources and Ore Reserves”. Iain Cooper consents to the inclusion of the matters based on this information in public releases by Brockman, in the form and context in which it appears. Mr J Farrell, who is a Member of the Australasian Institute of Mining and Metallurgy and a full-time employee of Golder Associates Pty Ltd, produced the Mineral Resource estimates based on the data and geological interpretations provided by Brockman. Mr Farrell has sufficient experience that is relevant to the style of mineralisation, type of deposit under consideration and to the activity that he is undertaking to qualify as a Competent Person as defined in the 2004 edition of the “Australasian Code for Reporting of Exploration, Results, Mineral Resource and Ore Reserves”. Mr Farrell consents to the inclusion in this report of the matters based on his information in the form and context that the information appears. Mr A Zhang, who is a Member of the Australasian Institute of Mining and Metallurgy and a full-time employee of Brockman, provided the geological interpretations and the drill hole data used for the Mineral Resource estimation. Mr Zhang has sufficient experience that is relevant to the style of mineralisation, type of deposit under consideration and to the activity that he is undertaking to qualify as a Competent Person as defined in the 2004 edition of the “Australasian Code for Reporting of Exploration, Results, Mineral Resource and Ore Reserves”. Mr Zhang consents to the inclusion in this report of the matters based on his information in the form and context that the information appears. 4.15pm – Beach Energy Limited (ASX: BPT)
Beach Energy Ltd is an S&P/ASX200 energy company Resources / Reserves Estimates with a market capitalization of approximately A$950 As at 30 June 2010, 2P reserves were 66 MMboe million. The Company’s main activities are associated and contingent resources of 297 MMboe. with oil and gas exploration, development and Competent Persons Statement production, with key assets located in the Cooper This Company profile contains information on Beach’s Reserves and Resources which have been compiled by Mr Gordon Moseby, who is a Basin in central Australia, as well as in Egypt, Tanzania full time employee of Beach, is qualified in accordance with ASX listing rule 5.11 and has consented to the inclusion of this information in the and the USA. In the 2010 Financial Year, the Company form and context in which it appears. produced 7.3 million barrels of oil equivalent (MMboe), generated sales revenue of A$487 million and reported Future Outlook a net profit after tax of A$33.1 million. 2011 should represent an active year with drilling and seismic activities to be undertaken on a number of key Recent Developments projects that have the potential to substantially add A one in forty year flood in central Australia deferred to Beach’s reserve and resource base. In addition to various Cooper Basin activities in 2010, and will have shale gas exploration drilling, an aggressive 16 well oil some ongoing impacts for 2011. However, progress exploration and appraisal program is planned along has still been made on various fronts, particularly in the Western Flank of the Cooper Basin. In Egypt, first relation to key growth opportunities. oil is expected from the North Shadwan concession, In January 2011, Beach completed its first a four well Western Desert oil exploration program Nappamerri Trough shale gas exploration well, will be undertaken, and 2D seismic will be acquired Encounter-1, specifically targeting thick sections of in the Mesaha concession in southern Egypt. The shale gas in the Cooper Basin (Beach 90%). This acquisition of 2D seismic data in Tanzania, will assist well will be immediately followed by a second shale in the identification of prospective areas of the East exploration well, Holdfast-1. Results to date have been African Rift. There is potential in this area for 200 encouraging with thick sections of gas saturated rocks MMbbl+ discoveries. Beach will also seek to progress having been encountered. The Nappamerri Trough has negotiations on various fronts associated with the the potential to hold over 200 trillion cubic feet of gas monetisation of its Cooper Basin gas reserves and in place. resources, including both domestic and LNG export In September 2010, Beach announced that it was opportunities. in discussions with Santos Ltd to supply approximately 150 petajoules of Cooper Basin gas to Santos’ GLNG Project, located in Gladstone Queensland. Beach also announced in November 2010 that along with ITOCHU Corporation, it is investigating locations in South Australia for a proposed mid-scale LNG facility. On 6 December 2010, Beach announced a A$75 million recommended and unconditional on-market cash offer for Impress Energy Ltd., a small Cooper Basin focused company with acreage immediately adjacent to that of Beach. As at 19 January 2011, Beach had a relevant interest in Impress of approximately 66%. 4.40pm – Eastern Star Gas Limited (ASX: ESG, OTCQX: ESGLY)
Eastern Star Gas (ESG) is an Australian Coal Seam Significant Contractual Arrangements Gas exploration, development and production Farm in arrangements with Orion Petroleum have given company. ESG’s focus is the Narrabri Coal Seam Gas ESG 75%, 50% and 40% of the CSG rights in PELs 6, Project, centred on Petroleum Exploration Licence 238 427 and 428 respectively. These PELs cover in excess adjacent to the township of Narrabri in the northwest of of 18,000 square kilometres to the north and west of New South Wales, Australia. ESG holds a 65% interest the Narrabri CSG Project. ESG also has an agreement in and is Operator of the project. Santos holds the with Linc Energy to farm in to PELs 117, 121 and 122 remaining 35% project interest. in South Australia’s Arckaringa Basin. PEL 238, and adjacent ESG operated permits, cover more than 41,800 km2 (10.4 million acres) of Resources / Reserves Estimates the Gunnedah Basin. Production testing is underway The overall gas in place potential of the PEL 238 at several locations, with lateral production pilots acreage has been independently estimated by delivering outstanding results. 2P gas reserves of Netherland Sewell and Associates to be around 1520 Petajoules (1441 BCF) and 3P gas reserves 17 million cubic feet. of 2797 Petajoules (2,651 BCF) have been Competent Persons Statement - Gas Reserves and Resource independently certified as at 31 December 2009. estimates were determined by Mr John Hattner of Netherland Sewell Contingent Resources of 6128PJ (5800 BCF) were and Associates Inc (NSAI)Dallas, Texas, USA . Mr Hattner is a full time employee of NSAI, and is a qualified person under ASX Listing Rule 5.11. independently certified in February 2009. Future Outlook ESG’s key focus is now on commercialization of Operations the Narrabri CSG Project. ESG aims to finalize Following the success of the multilateral pilots, arrangements for sale of gas for both domestic ESG plans to further refine the lateral well design to opportunities and for export as LNG. incorporate multiple vertically stacked lateral wells. These wells will significantly reduce gas production unit costs.
Recent Developments In May 2010, ESG signed a Memorandum of Understanding with ERM to provide gas to a power station approved for development at Wellington, New South Wales. Approvals processes for a pipeline to Wellington from the Narrabri CSG Project are underway. Hitachi and Toyo have completed a feasibility study into a mid-scale LNG project at Newcastle, with favourable results. A parcel of land on Newcastle Harbour’s Kooragang Island has been purchased by ESG for this purpose. Presenter Biographies
Atlas Iron Limited Beach Energy Limited Mark Hancock Steve Masters Chief Commercial Officer Chief Commercial Officer Mark is a Chartered Accountant Steve Masters joined Beach in who commenced his working life 2007 and is currently responsible in Public Practice in 1986. Since for the Company’s commercial, moving into commerce in 1991 corporate development and he has held senior financial roles investor relations functions. with leading companies such as Lend Lease Corporation Ltd, Prior to joining Beach, Steve Premier Oil plc (Including a four year secondment to its spent approximately ten years with Woodside Energy Ltd South East Asian Operations) and Woodside Petroleum Ltd. where he held a variety of commercial roles associated with Mark joined Atlas in 2006, with responsibility for the LNG, domestic gas, offshore oil projects and mergers and company’s financial, commercial, iron ore marketing and acquisitions. He has broad experience in the negotiation administrative activities. Since that time Mark has played a of upstream petroleum agreements, oil and gas markets, key role in the growth of the company from a junior explorer domestic and international acquisitions, divestments, and to a significant producer. corporate strategy.
PO Box 223, West Perth Steve graduated from Royal Melbourne Institute of Western Australia, 6872 Technology with a Bachelor of Applied Science (Applied t +61 8 9476 7900 Geology) in 1992 and completed a Bachelor of Science e [email protected] (Hons) in Petroleum Geology and Geophysics at the w www.atlasiron.com.au University of Adelaide in 1993. In 2001, he completed a Graduate Diploma in Applied Finance and Investment with the Securities Institute of Australia (now Finsia).
Conyngham Street, Glenside South Australia, 5065 t +61 8 8338 2833 e [email protected] w www.beachenergy.com.au Presenter Biographies
Brockman Resources Limited Carbon Energy Limited Wayne Richards Andrew Dash Managing Director Chief Executive Officer and Managing Director Mr Richards has over 25 years Andrew is responsible for the experience in the mining and overall performance, leadership mineral processing industry, and growth of Carbon Energy. In with extensive experience in addition, Andrew is a Company the development and operation Director and together with the of nickel/cobalt and iron ore Board sets the strategic direction businesses. He commenced his of Carbon Energy’s expanding career at Queensland Nickel Pty Ltd in 1985 and moved to organization. A key strategic objective is to focus the Western Australia in 1997 as the Refinery Manager of the Company on the delivery of current and future growth Murrin Murrin Nickel/Cobalt Project. He has been involved projects that in turn deliver attractive shareholder returns. in the design, construction, commissioning and ramp up of This growth will be assisted through development of suitable several multimillion dollar Brownfield and Greenfield Projects projects in Australia and overseas, either in the Company’s within Australia. own right or through joint venture partnerships.
Prior to joining the Company, Mr Richards fulfilled senior Andrew has a degree in Chemical Engineering from the executive roles within BHP Billiton Iron Ore. University of Sydney and a Masters Degree in Commerce from the University of New South Wales. He has extensive 1 / 117 Stirling Highway, Nedlands experience in the energy sector, with particular experience Western Australia, 6009 in the commercial development of gas operations and t +61 8 9389 3000 associated infrastructure on a national scale. He previously e [email protected] held executive management roles with the leading energy w www.brockman.com.au transmission business APA Group.
PO Box 2118, Toowong DC Queensland, 4066 t + 61 7 3337 9944 e [email protected] w www.carbonenergy.com.au Presenter Biographies
Coalspur Mines Limited Cockatoo Coal Limited Eugene Wusaty Mark Lochtenberg Chief Executive Officer and Managing Director Managing Director Prior to becoming Managing Mark Lochtenberg graduated with Director and Chief Executive a Bachelor of Law (Hons) degree Officer of Coalpsur, Mr. Wusaty from Liverpool University, UK and was President of Ivanhoe Mines’ has been actively involved in the Coal Division and then Chief coal industry for more than 20 Operating Officer of SouthGobi years. Energy Resources Ltd following its acquisition of Ivanhoe Mine’s Coal Division in 2006. Mr Lochtenberg was the co-head of Glencore International Prior to joining Ivanhoe Mines, Mr Wusaty served as Vice AG’s world wide coal division following his heading up of President and Chief Operating Officer of Grande Cache the coal trading desk of Glencore’s Australian coal trading Coal Corporation. operations. During that time, he was actively involved in purchasing, managing and aggregating the coal project Mr Wusaty is a professional mining engineer with 30 portfolio which became Xstrata Coal. years of mining-related operational experience, with responsibilities in underground and open-pit coal mining Prior to this Mr Lochtenberg had established a coal ‘swaps’ and coal-fired power generation operations in Alberta and market for Bain Refco (Deutsche Bank) after having served British Columbia. In the coal industry he has worked for as coal marketing manager for Peko Wallsend Limited. Mr Ivanhoe Mines Ltd, Elk Valley Coal Corp, Fording Coal Ltd, Lochtenberg is also a director of Australian Transport and Quintette Coal Ltd and Grande Cache Coal Corporation in Energy Corridor Limited (ATEC) and an alternate director of various positions including Mine Manager and Manager of Surat Basin Rail Pty Ltd. Engineering. Level 2, 66 Hunter Street, Sydney Suite 880 - 550 11th Avenue, Calgary SW New South Wales, 2000 Alberta, T2R 1M7, Canada t +61 2 9300 3333 t +1 403 261 9997 e [email protected] e [email protected] w www.cockatoocoal.com.au w www.coalspur.com Presenter Biographies
Cromwell Property Group Eastern Star Gas Limited Paul Weightman Roland Sleeman Chief Executive Officer Chief Commercial Officer Paul has been the key driver of Roland has a background of Cromwell’s success since the engineering and business and Company’s inception in 1998. has had extensive involvement in the Australian energy industry. He has practised as a solicitor for more than 20 years and holds His experience ranges from degrees in commerce and law. management of the gas sales agreements upon which the North West Shelf Project was Paul has extensive experience in property investment and founded, through to management of gas production and development, financial structuring, public listings, mergers gas transmission pipeline activities, including as General and acquisitions, revenue matters and joint ventures. Manager of the Goldfields Gas Transmission Pipeline in Western Australia (WA). Prior to joining Eastern Star Gas Paul was Cromwell’s Executive Chairman from 1998-2008 he provided consulting services to clients including the and has acted as a director of companies in the property, ACCC, Alcoa, Gorgon Gas and CS Energy. In 2004 Roland energy and retail sectors. authored two Government and industry sponsored regional minerals program reports. Level 19, 200 Mary Street, Brisbane Queensland, 4001 The first, titled ‘Facilitating the Development of Natural Gas t +61 7 3225 7777 in Northeastern New South Wales’, looked at requirements e [email protected] for establishing a gas industry in the study region. That w www.cromwell.com.au report addressed matters of relevance today, including the prospectivity of coal seam gas in New South Wales and the importance of gas pipeline infrastructure.
The second, titled ‘Energy for Minerals Development in the South West Coast Region of WA’ looked at energy related pricing requirements for triggering minerals projects, and predicted the tightening of gas supply that has resulted in the high gas prices now prevailing in WA. Roland joined Eastern Star Gas in 2007 as Chief Commercial Officer and is now, intimately involved in commercialization of coal seam gas production at Narrabri.
Level 7, 51 Pitt Street, Sydney New South Wales, 2000 t +61 2 9251 5599 e [email protected] w www.easternstar.com.au Presenter Biographies
FlexiGroup Limited Imdex Limited John DeLano Bernie Ridgeway Chief Executive Officer Managing Director John started his career with Bernie has over 30 years Avis Inc managing several US experience with public and operations before his appointment private companies as an owner, to Avis Australia where he director and manager. He is a ultimately held the position of Qualified Chartered Accountant Managing Director. and a Member of the Institute of Chartered Accountants in Under his leadership Avis became the market leader and Australia, and the Australian Institute of Company Directors. most profitable operation in the Avis system. Winner of the Australian Quality Award, Avis also won the prestigious He became Managing Director of Imdex in mid 2000 when Australian Customer Service Award and was later the Company had a market capitalization of less than recognized as one of Australia’s Best Employers. A$10million and has been a key driver of reorganizing and growing the business to approximately A$400million market In 1997, John joined Travel Services International (TSI) capitalization currently. to participate in a consolidation of the US travel industry. Following a successful IPO, TSI acquired 23 specialist 8 Pitino Court, Osborne Park leisure travel organizations with turnover of $2billion. The Western Australia, 6017 TSI team realized a successful exit strategy when it was t +61 8 9445 4010 acquired by Airtours PLC. e [email protected] w www.imdexlimited.com In 2003, John returned to Australia with his family and accepted the role of CEO at FlexiGroup Limited. During his tenure, John has engaged a professional management team and has successfully grown and developed the business, culminating in an IPO on ASX in December 2006. FlexiGroup is currently ranked as one of the ASX 300 index publicly listed companies.
Level 8, 201 Pacific Highway, St. Leonards New South Wales, 2065 t +61 2 8905 2156 e [email protected] w www.flexigroup.com.au Presenter Biographies
Ivanhoe Australia Limited Jabiru Metals Limited Peter Reeve Gary Comb Managing Director and Chief Executive Officer Managing Director Peter Reeve was appointed Gary is a qualified engineer with Managing Director and Chief more than 25 years experience Executive Officer of Ivanhoe in the mining industry, having Australia in February 2007. worked in senior executive roles He has been involved in the including mine manager and Australian resources industry for operations manager for both approximately 25 years and has a gold mining and contract mining Bachelor of Applied Science (Metallurgy). companies. Before joining Jabiru Metals as Managing Director, he was both a non-executive director of Jabiru and His industry experience includes positions with Rio Tinto, Chief Executive Officer of BGC contracting. Shell-Billiton, Newcrest Mining and Normet Consulting. For 7 years Peter worked at JBWere/Goldman Sachs as a As Managing Datlsirector of Jabiru, Gary has seen the high Resource Fund Manager and then as a Corporate Finance grade Jaguar copper/zinc project advance from discovery Director. through feasibility, construction and commissioning, to full operations. More recently, the discovery of Bentley, only Peter is currently a director of both EXCO Resources and 4.6km south of Jaguar has extended the life of this very low Emmerson Resources. cost operation, and the scoping study for the Stockman copper/zinc/silver/gold project in Victoria provides the Level 9, 479 St Kilda Road, Melbourne Company with an extended project pipeline. Victoria, 3004 t +61 3 9090 8802 PO Box 1114, West Perth e [email protected] Western Australia, 6872 w www.ivanhoeaustralia.com t + 61 8 9426 8300 e [email protected] w www.jabirumetals.com.au Presenter Biographies
Kingsgate Consolidated Limited Lynas Corporation Limited Gavin Thomas Dr Matthew James, Executive Vice President Managing Director and Chief Executive Officer Strategy and Corporate Communications Gavin Thomas has had a Matthew joined Lynas in October successful career discovering ore 2002 and is the Executive Vice bodies and developing mining President Strategy and Corporate companies from the exploration Communications. He received phase into mid-tier gold or copper a BE (Hons) degree in Ceramic producers. Engineering from the University of New South Wales, Australia and He has over 39 years of international experience in exploring Ph.D. in Material Science and Engineering from Queens’ for, evaluating, developing, operating and reclaiming mines College at the University of Cambridge. in North and South America, Australia, the Southwest Pacific, Asia and Europe. Prior to joining Lynas, Matthew spent three years at Deutsche Bank in London, followed by four years in the Previously he was Managing Director and CEO of Equatorial London office of McKinsey and Company, the management Mining Ltd from 1998 to 2004 with the El Tesoro Copper consulting firm where he worked at the CEO and board Mine in Chile. Prior to that he was an Executive Director of level of major companies helping them in major strategic, Niugini Mining Ltd from 1985 where he led an aggressive organizational and operations issues. world wide exploration team that had offices in South America, India, Europe, Malaysia and Thailand. He is Level 7, 56 Pitt Street, Sydney probably best known for being credited with discovering New South Wales, 2000 the world’s largest gold mine outside of South Africa at Lihir t +61 2 8259 7100 Island, becoming a founding Director of Lihir Gold Ltd. e [email protected] w www.lynascorp.com Gavin has a degree in Geology from Macquarie University in Sydney, is a Chartered Professional of the AusIMM and a member of its Geoscience Taskforce.
Suite 801, Level 8, 14 Martin Place, Sydney New South Wales, 2000 t +61 2 8256 4806 (via Assistant) e [email protected] w www.kingsgate.com.au Presenter Biographies
Mesoblast Limited Mincor Resources NL Graeme Kaufman, Senior Vice President David Moore Finance and Corporate Strategy Managing Director and Chief Executive Officer Mr Kaufman has over 30 David Moore is the founding years of wide ranging, hands- Managing Director and CEO of on experience across the Mincor Resources NL. biotechnology sector and capital Mr Moore trained as a geologist markets, spanning technical, at the University of Witwatersrand commercial and financial areas. in Johannesburg. After 13 years with Shell/Billiton in Africa and He held a variety of senior executive roles with CSL South America he joined Iscor Ltd in 1997 and in 1999 Limited, Australia’s largest biopharmaceutical company, founded Mincor through the ASX listing of Iscor’s exploration including Production Director, General Manager Finance assets, becoming the new company’s Managing Director. and General Manager Biosciences. In his role as General Since then he has directed the growth of Mincor into one of Manager Finance, Mr Kaufman was responsible for Australia’s leading nickel producers. finance, accounting, treasury, acquisitions and budget as well as having corporate-wide responsibility for strategy Mr Moore was the founding Managing Director of Tethyan development, human resources and information technology. Copper Company and drove that company’s growth until His major achievement was the listing of the Company on its successful cash takeover in 2006 by two major mining ASX including the negotiation of key contracts prior to listing. companies. His responsibilities in the production role covered the total operation of CSL’s manufacturing facilities, while as General In August 2010 Mr Moore was awarded the prestigious Manager Biosciences, he ran an independent A$16million GJ Stokes Memorial Award for his contributions to the turnover business operating in the high technology medical resources industry in Australia. device market, with global responsibility for sales and marketing, new product development and manufacturing. PO Box 1810, West Perth Western Australia, 6872 He was formerly an Executive Director of ASX-listed t +61 8 9476 7200 Circadian Technologies and in that position was responsible e [email protected] for acquisition of development projects for their life sciences w www.mincor.com.au investment portfolio, and the subsequent management and commercialization of the projects. Mr Kaufman joined Mesoblast in October 2009.
Level 39, 55 Collins Street, Melbourne Victoria, 2000 t +61 3 9639 6036 e [email protected] w www.mesoblast.com.au Presenter Biographies
Murchison Metals Limited Trevor Matthews Managing Director Mr Matthews has a Bachelor of Commerce degree from the University of Western Australia and a graduate diploma in Applied Finance and Investment from the Financial Services Institute of Australasia. He is a CPA and a member of the Financial Services Institute.
Mr Matthews has worked in the resources industry for 20 years and held executive positions with North Limited, WMC Resources Limited and other listed entities in both operational and corporate roles. He has significant experience in corporate governance, project development and finance.
PO Box 904, West Perth Western Australia, 6872 t +61 8 9492 2600 e [email protected] w www.mml.net.au Supporter Profiles
The Australasian Investor Relations Association (AIRA) was BBY is an Australian focused stockbroking, corporate advisory established in 2001 to advance the awareness of and best and asset management firm. With offices in Sydney, Melbourne, practice in investor relations in Australia and New Zealand UK and UAE along with a global presence in the USA and Asia, and thereby improve the relationship between listed BBY is well positioned to service its clients’ local and global entities and the investment community. The Association’s needs. BBY’s goal is to achieve superior returns for its clients 120 corporate members now represent over A$760 which include over 300 high-net-worth and dealer clients all billion of market capitalization or over two thirds of the total over Australia. Whether you are looking for tradeable insights market capitalization of companies listed on ASX. on Australian equities, or efficient and reliable execution and AIRA provides education and professional development distribution services, BBY’s experienced global sales team can on investor relations for listed entities as well as providing assist you in achieving the returns you seek on your portfolio. information, networking, advocacy and research for its members. BBY’s core ASX areas of specialization include: Australian Real Estate & Investment Trusts, Energy, Financials, Health Care, Ian Matheson Industrials, Information Technology, Materials, Metals & Mining Chief Executive Officer and Telecommunication Services. BBY is an independent AIRA Australian firm, with the strength of an international partnership GPO Box 1365, Sydney with leading Asian investment bank CIMB, (www.cimb.com), New South Wales, 2001, Australia and an equity partnership with major US investment bank, t +61 2 9872 9100 Jefferies Group Inc (www.jefferies.com). The BBY Institutional e [email protected] Broking, Retail Execution, Research and Corporate Finance w www.aira.org.au teams are committed to providing clients with outstanding service while maintaining the highest standards of integrity.
Jeremy Dunlop CIMB Securities (USA) Inc 11th Floor, 540 Madison Avenue New York NY 10022 t +1 212 616 8607 e [email protected] w www.cimb.com CIMB Securities (USA) Inc is a member of FINRA and SIPC
Stewart Palmer Head of International Business BBY Limited Level 17, 60 Margaret Street, Sydney New South Wales, 2000, Australia t +61 2 9226 0166 e [email protected] w www.bby.com.au BBY is an Australian focused stockbroking, corporate advisory and asset management firm. With offices in Sydney, Melbourne, UK and UAE along with a global presence in the USA and Asia, BBY is well positioned to service its clients’ local and global needs.
BBY’s objective is to be a leading Australian owned securities BBY maintains its track record of successfully advising top firm, providing solutions to high growth, small, medium and performing stocks on Australia’s leading market indices. large sized Australian Companies including their Australian In 2010, BBY recommended a rare earth company Lynas and International investors. BBY is able to allocate industry Corporation (LYC), which was the number two performer on the S&P/ASX 200 delivering a return of 275%. resources to ensure we solve our client’s problems by getting the In 2009, BBY recommended an offshore uranium company best possible result in meeting their objective. BBY’s long term Extract Resources (EXT), which was the number two performer on commitment to its clients is strongly supported by well-regarded the S&P/ASX 200 delivering a return of 545%. research, experienced corporate finance and broking teams. In 2008, BBY recommended an alternative energy provider Linc Energy (LNC), which was the number one performer on the S&P/ Established in 1987, and formerly known as Burdett, Buckeridge ASX 200 delivering a return of 163%. Young, BBY has developed a reputation for providing focused, Our ideas come from BBY’s independent research which is one quality services, innovative solutions and high level execution of our competitive strengths. Research is based on in-depth field for its institutional, corporate, high-net-worth and dealer clients. analysis, due diligence and regular dialogue with companies. BBY now has over 300 high-net-worth and dealer clients all over Areas of specialisation include: Australia including Adelaide, Brisbane, Gold Coast, Melbourne Australian Real Estate & Investment Trusts and Sydney. Consumer Discretionary
BBY is an independent Australian firm, with the strength of an Consumer Staples international partnership with leading Asian investment bank Energy CIMB, (www.cimb.com), and an equity partnership with major US Financials investment bank, Jefferies Group Inc (www.jefferies.com). Health Care Industrials BBY offers a wide range of products & services including: Information Technology 24 Hours Futures Execution Materials, Metals & Mining BBY Brief: Morning and Afternoon reports Telecommunication Services Block Trades Equity Strategy - STEELscan Broker / Dealer Execution - STOCKscan Commission Sharing Agreement / Directed Brokerage - RESOURCEscan - BANKscan Conferences: Rare Earth, Resources, MENESA - CREDITscan Investment Conference, Agriculture Cleantech and BBY was ranked 11th Best Overall Investment Energy (ACE), Telecommunication Services and Bank for the BRW East Coles Survey 2010 Industrials (TMT), Healthcare and Financials. and awarded the 2008 Best Corporate Deal by The Australian Stockbrokers Direct Market Access / Connectivity Foundation. Derivatives Equity Execution IPOs, Placements Mergers & Acquisitions (M&A) Portfolio Trading smarTrader: BBY’s state-of-the-art online execution platform with tools for retail, high-net-worth and financial planners. VolumeMatch
*Past performance is not an indicator of future performance
For further information about BBY, please visit our website i www.bby.com.au or contact Glenn Rosewall on +61 2 9226 0032 or email us at [email protected] Supporter Profiles
Chardan Capital Markets is a global, full-service investment Citi, the leading global financial services company, has bank with offices in New York, Los Angeles, Sydney and some 200 million customer accounts and does business Beijing. in more than 100 countries, providing consumers, corporations, governments and institutions with a broad Chardan’s mission centers on its role as a bridge between range of financial products and services, including its Asian and Australian corporate clients and U.S. capital consumer banking and credit, corporate and investment markets. Chardan maintains a loyal, focused client base banking, securities brokerage, and wealth management. of U.S. institutional investors and family offices that are actively seeking investment opportunities in both public Citi’s major brands include Citibank, CitiFinancial, and private Australian entities. Primerica, Smith Barney and Banamex. Additional information may be found at www.citigroup.com or The banking group specialises in IPOs/secondaries, www.citi.com. private placements, restructurings, M&A advisory services and mezzanine debt financing. Leighton Patrick Director, Head of Australia/New Zealand Chardan’s research team has an international focus, Equity Sales specialising in actively covering non-U.S. listed companies. Citigroup Inc. The NY and LA-based institutional trading desks provide 390 Greenwich Street, 3rd Floor 24-hour coverage for international equities and options. New York, NY 10013 t +1 212 723 4177 Carlos Sanson e [email protected] Managing Director and Group Head, Australia w www.citi.com Chardan Capital Markets Level 31, RBS Tower, 88 Phillip Street, Sydney New South Wales, Australia t +61 432 986 327 e [email protected] w www.chardancm.com A Bridge to U.S. Capital Markets.
Chardan Capital Markets is a full-service investment bank focused on linking U.S., Asian and Australian capital markets.
Chardan specializes in public and private corporate financing, M&A advisory services, and global capital markets support—research, sales and trading, and corporate access.
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chardan_aus_ad_092410.indd 1 1/28/11 9:55 AM Citi is proud to sponsor the 2011 ASX
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For more information on Citi’s Australian Equities business in North America, please call +1-212-723-4177
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As one of the world’s leading banks, Credit Suisse Fortbridge Consulting is a media and investor relations firm provides its clients with private banking, investment representing publicly listed companies. Fortbridge work banking and asset management services worldwide. with clients to build corporate reputation and promote Credit Suisse offers advisory services, comprehensive value. solutions and innovative products to companies, institutional clients and high-net-worth private clients Fortbridge investor communications programs target a globally, as well as retail clients in Switzerland. Credit range of stakeholders including shareholders, institutional Suisse is active in over 55 countries and employs investors and funds and the financial media in the markets approximately 49,200 people. Credit Suisse is comprised in which clients operate. of a number of legal entities around the world and is headquartered in Zurich. The registered shares (CSGN) With access to up-to-date research and investor contact of Credit Suisse’s parent company, Credit Suisse Group information for financial centers around the world, AG, are listed in Switzerland and, in the form of American Fortbridge is able to research and maintain meaningful Depositary Shares (CS), in New York. sector specific investor lists for their clients. Using this information, Fortbridge target relevant institutional investors Further information about Credit Suisse can be found at and funds to engage their support for their clients’ IPOs, www.credit-suisse.com. institutional placements, capital raisings, SPPs or on market trades. Ian Buckley Director – Head of Australian Sales Desk Fortbridge consultants in Sydney, Beijing, London, Credit Suisse Vancouver and Santiago have a track-record in 11 Madison Avenue working with clients to build shareholder value and to New York, NY, 10010 grow businesses; communicating the value of new t +1 212 325 4963 developments and to manage significant issues that e [email protected] impact reputation. w www.credit-suisse.com Bill Kemmery Managing Director Fortbridge Consulting Level 3, 63 William St, East Sydney New South Wales, 2010, Australia t +61 2 9331 0655 e [email protected] w www.fortbridge.com ASX.2_AM63/18004 1/10/11 5:05 PM Page 1
Finding upside potential down under.
Credit Suisse is proud to sponsor ASX Small to Mid Caps New York, 2011. We welcome this opportunity to learn more about investment opportunities with emerging Australian companies and about the attractiveness of the Australian equity market overall. Since we provide investment solutions for clients throughout the world, we believe an investment in this conference is one of the best investments we can make. credit-suisse.com
©2011 CREDIT SUISSE GROUP AG and/or its affiliates. All rights reserved. Research. Target. Engage.
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MADISONWILLIAMS AND COMPANY
Madison Williams is a privately held integrated capital Morgan Stanley is a leading financial services firm providing markets and investment banking firm offering advisory a wide range of investment banking, securities, investment services, equity sales, trading, and research services management and wealth management services. Morgan to institutional and corporate clients. Headquartered in Stanley has been an integral and significant participant in New York, the firm has more than 100 employees in six Australia’s capital markets, financial sector and corporate major offices, including New York, Houston, New Orleans, world for over fifty years. The Firm provides a full range of Boston, Chicago and San Francisco. Madison Williams services to local and international clients, including: was the capital markets business of Sanders Morris Harris Group (Nasdaq: SMHG) and was spun out in a Investment and Merchant Banking: Corporate finance, management-led buyout in December 2009. For more M&As, IPOs, advisory, capital markets, equity and bond information about Madison Williams, contact 212-508- capital raisings and placements. Andrew Hunter and Chris 4010, or log on to www.madisonwilliams.com. Richmond are investment bankers with a particular focus on small and mid-cap corporates. Stephen Nash Managing Director Sales and Trading: Comprehensive services to institutional Madison Williams and Company investors covering equity, fixed income, commodities 1 Market Street, 35th Floor and derivative products, prime broking services. Michael San Francisco, CA, 94105 Carmody and Edward Wilson specialise in the small and t +1 415 449 0196 mid-cap sector. e [email protected] w www.madisonwilliams.com Research: Coverage of major industries and sectors, in addition to equity strategy and macroeconomics. Chris Nicol, David Evans and James Bales focus on researching the small and mid-cap sector
Georgia Hopkins Vice President, Corporate Access Australia Morgan Stanley Level 38, Chifley Tower, 2 Chifley Square, Sydney New South Wales, 2000, Australia t +61 2 9770 1660 e [email protected] w www.morganstanley.com MADISONWILLIAMS AND COMPANY
Madison Williams is the leading Investment Banking PAL to issuers globally, including 6 of the 8 largest OTCQX cross-listed companies from Australia.
MADISONWILLIAMS MADISONWILLIAMS MADISONWILLIAMS MADISONWILLIAMS AND COMPANY AND COMPANY AND COMPANY AND COMPANY
New Guinea Energy Ltd ENERGY WORLD
Principal American Liason Principal American Liason Principal American Liason Principal American Liason
MADISONWILLIAMS MADISONWILLIAMS MADISONWILLIAMS AND COMPANY AND COMPANY AND COMPANY
Principal American Liason Principal American Liason Principal American Liason
Madison Williams recently raised capital for the following OTCQX issuers:
December 2010 May 2010
A$20,184,559 £114,000,000
New Guinea Energy Ltd Common Stock Common Stock
Sole Placement Agent Co-Placement Agent
To learn more about the OTCQX opportunity with Madison Williams, please contact any one of the representatives below:
Stephen Nash Michael Fitzgerald Nitin Rajkumar Managing Director Managing Director Associate Head of OTCQX Advisory Group Co-Head of Investment Banking OTCQX Advisory Group 1 Market Street, 35th Floor 527 Madison Ave, 15th Floor 1 Market Street, 35th Floor San Francisco, CA 94105 New York, NY 10022 San Francisco, CA 94105 P) +1-415-449-0196 P) +1-212-317-2702 P) +1-415-449-0197 [email protected] [email protected] [email protected] www.madisonwilliams.com
ASX Ad.FINAL.indd 1 1/31/11 5:19 PM From the places you’d expect, to the places you’ve never heard of, Morgan Stanley has the global insight to help you identify opportunities in today’s complex and rapidly changing world.
morganstanley.com Investments and services are offered through Morgan Stanley & Co. Incorporated, member SIPC. 03/09
6208654_IED_Australia Conf Ad_m1.indd 1 2/5/10 2:17:23 PM Supporter Profiles
With over 100 equity and credit analysts, Morningstar Patersons Securities is one of the leading stockbrokers is one of the largest independent sources for equity and financial services firms in Australia. and credit research in the world. Their analysts evaluate Having built a national advisory network capable of companies using a proprietary methodology built on providing a wide range of finance solutions, the Australian fundamental analysis that scrutinizes a company’s Stockbroker’s track record speaks for itself. sustainable competitive advantages. Since 2003, Patersons has ranked #1 by number of equity issues in Australia raising in excess of $7billion in new Morningstar Australia’s equity research team has grown capital in over 800 new equity issues. to 21 analysts following the acquisition of Aegis Equities Our Corporate Finance Team has been at the forefront Research in April 2010. Current coverage includes the of investment in substantial resources developments in S&P/ASX 200; 75 small to mid cap stocks and 35 hybrid Australia, Africa and Asia. securities. Patersons can deliver large amounts of capital, particularly in the resources sector, and provides advisory services to Andrew Doherty a wide and varied range of clients. Director of Australian Equity Research Supported by a strong institutional dealing arm, award- Morningstar Australia winning equities research teams, and an expanding funds Level 36, Australia Square, and asset management division, Patersons is majority 264 George Street, Sydney owned by its 500+ employees who are committed to New South Wales, 2000 providing quality financial services and solutions to all t +61 2 9276 4431 clients. e [email protected] w http://select.morningstar.com/welcome Matt Storey Director – Corporate Finance Patersons Securities Level 48, Australia Square, 264 George Street, Sydney New South Wales, 2000, Australia t +61 2 8238 6224 e [email protected] w www.psl.com.au
James Walker Associate Director – Corporate Finance Patersons Securities Level 15, 333 Collins Street, Melbourne Victoria, 3000, Australia t +61 3 9242 4106 e [email protected] w www.psl.com.au ©2011 Morningstar, Inc. All rights reserved. Morningstar data as of 31 Jan 2011.
Morningstar Equity Research To Protect Your Portfolio, Invest in Moats
The concept of economic moats is a cornerstone of Morningstar’s investment Economic Moat: The Four Sources of Sustainable Competitive Advantage research philosophy and methodology. To us, buying a share of a stock Competitive Forces means buying a small piece of a business, and successful investing involves a thorough evaluation of whether a business will stand the test of time.
Companies with economic moats can successfully earn economic profits over WidWide NarrowN w NoneNNone CompanyCCPCompanCompanyPy PProfitabilityrofitabilrofitabilityfit bililityty the long haul—decades or even centuries. Consider Coca-Cola KO, which has been in business for more than 120 years. Coke continues to create value for its shareholders by exploiting valuable brands, optimizing its distribution network, and tweaking its product portfolio with powerful insight into its cus- tomer base. It has well-entrenched competitive advantages which it uses to protect its profits and create new shareholder value, year after year. Moat Intangible Switching Network Cost Sources: Assets Costs Effect Advantage
The Morningstar Economic Moat™ Rating measures the degree to which a company can sustainably protect its profits. Companies receiving a Wide Wide Moat Narrow Moat No Moat Moat rating are the highest-quality names in our coverage universe and have Intangible Nike: Universally Adidas: Elite brands, Lululemon: Assets the ability to withstand competition for a very long time. These are far and recognized brand but on a smaller Fad products that with superior scale without price depend on the popular- few between, numbering just 160. Companies with a Narrow Moat rating product development. leadership. ity of trends. have moderate ability to withstand competition, and we currently have 755 of them. No Moat companies—those that lack meaningful competitive advan- Switching Oracle: Switching Salesforce.com: TIBCO: High-end Costs from Oracle’s tightly A popular product, but software ”plumber” tages—make up 754 of the companies on our coverage list. integrated databases switching costs are seeing competition could cause massive low for users. from all-in-one The historical performance of Wide Moat stocks proves that moats matter. disruptions. solutions. As of January 31, 2011, our Wide-Moat Focus Index, which consists Network Chicago Mercantile NYSE Euronext: Knight Capital Group: of the most undervalued Wide Moat stocks, had returned an annualized Effect Exchange: Equity volume is Few network benefits 15.3% since its inception in September 2002. Its clearinghouse interchangeable, and from being an order- function keeps competitors have taker or market-maker. volume captive. been stealing share.
Cost UPS: Ground FedEx: The high Con-way: Trucking Advantage delivery network fixed-cost air express industry is very has low marginal segment is still fragmented, making costs and high a large proportion it tough to build returns on capital. of revenue. scale and dig a moat.
Learn more about Morningstar Equity Research: http://www.select.morningstar.com/welcome Ever heard of the most active broker in Australia? The smart money likes it that way
Patersons Securities is one of the leading stockbrokers and financial services firms in Australia and is proud to support ASX Small to Mid Caps New York.
Having built an Australia wide advisory network capable of providing a wide range of finance solutions, the Australian Stockbrokers track record speaks for itself. Patersons has ranked #1 by number of equity issues in Australia every year since 2003* raising in excess of $7.2 billion of new capital in over 870 new issues. Our corporate finance team has often been early supporters of what have become substantial resources companies not only in Australia but in Africa and Asia. Patersons can deliver large amounts of capital, particularly in the resources sector and provides advisory services to a wide and varied range of clients. Supported by a strong institutional dealing arm, award-winning equities research teams, and an expanding funds and asset management division. Patersons is majority owned by it’s 500+ employees who are committed to providing quality financial services and solutions to our clients.
For more information regarding Patersons Securities and our Corporate Finance and Institutional Dealing capabilities please call +61 8 9263 1111 or email [email protected].
www.psl.com.au THE AUSTRALIAN ST OCKBROKER
Patersons Securities Limited ABN 69 008 896 311 AFSL No. 239 052 Participant of ASX Group; Stockbrokers Association of Australia; Financial Planning Association Principal Member *Source: Thomson Reuters Supporter Profiles
SpringTree Global Investors, LLC (SpringTree) is a New York-based private investment management firm. SpringTree focuses on long-term debt and equity investments in small-cap and mid-cap publicly-traded companies around the world, particularly on companies requiring US$5 million to US$150 million in funding.
SpringTree provides creative funding, individually structured for each investment opportunity. It invests across a broad range of industries and a wide range of geographies and economic environments.
SpringTree’s creativity and its team’s experience and skills allow it to consider investments across a wide range of companies – established profitable businesses, high growth developing companies, and distressed opportunities. Despite the current economic conditions, SpringTree is actively investing and welcomes queries from potential investee companies and intermediaries.
Jeff Easton Managing Director SpringTree Global Investors 370 Lexington Avenue, Suite 1900 New York, NY, 10017 t +1 212 255 3552 e [email protected] w www.springtreegi.com SPRINGTREE GLOBAL INVESTORS, LLC
We are a New York-based alternative asset management company that makes debt and equity investments in public companies around the world. We invest in highly competent, passionate and dedicated management teams to assist them with achieving their vision and creating value for their shareholders.
OUR APPROACH
SpringTree is disciplined and selective in its value- creating approach. The firm wants to participate in the long-term success of its portfolio companies, but does not typically seek control investments or board seats. It aims to be a true and flexible partner to its investee companies and form long- term relationships with them, empowering the management to execute on its plans. SpringTree is comfortable investing in a range of markets and countries. It welcomes company CONTACT referrals from investment bankers and other company advisors and intermediaries. Jeff Easton Managing Director Telephone: +1 646 395 3931 Email: [email protected] About ASX
As one of the world’s top 10 listed exchange groups, measured by its market capitalization, ASX Group was created through the merger of the Australian Stock Exchange and the Sydney Futures Exchange in 2006. ASX Group operates under the brand, Australian Securities Exchange.
The diverse domestic and international customer base of the Australian Securities Exchange includes issuers of a variety of listed securities, investment and trading banks, fund managers, hedge funds, commodity trading advisers, proprietary and retail traders, and retail investors. The market is an internationally recognized center for Resources equity capital, and issuers include global giants With a market capitalization of over A$1.5 trillion the Australian such as BHP Billiton and Rio Tinto, as well as an excellent equities market is consistently weighted in global indices representation of future leaders in the mid-tier producers (MSCI and S&P/Citigroup Global Equities Indices BMI) among and junior miners. The market also has a significant mining the top six equity markets in the world. Among Asia–Pacific services sector providing technology, services and supplies stock markets it is second only to Japan in terms of free float to the global mining industry. market capitalization.
The Australian equity market has experienced outstanding ASX operates in a market that has the fourth largest growth in recent years, with annual turnover increasing investment fund assets pool in the world and the largest fourfold and market capitalization doubling in the last ten in Asia. This investment pool is underpinned by the years. In the same period liquidity has doubled to 100%. superannuation guarantee scheme, which is projected to grow Australian Funds under Management (FUM) to over A$2 trillion by 2015. With approximately 2,220 listed issuers the Australian market is highly diverse, offering domestic and global investors exposure to a wide range of sectors including Financials, Industrials, Resources (Mining and Oil and Gas), Healthcare and Life Sciences, and Information Technology. Global Index Performance 2000-2010
250
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25 Apr 00 Apr 01 Apr 02 Apr 03 Apr 04 Apr 05 Apr 06 Apr 07 Apr 08 Apr 09 Apr 10 Dec 99 Aug 00 Dec 00 Aug 01 Dec 01 Aug 02 Dec 02 Aug 03 Dec 03 Aug 04 Dec 04 Aug 05 Dec 05 Aug 06 Dec 06 Aug 07 Dec 07 Aug 08 Dec 08 Aug 09 Dec 09 Aug 10 Dec 10
S&P/ASX 200 Hang Seng Dow Jones FTSE 100 Nasdaq Nikkei
ASX equity market returns in the last decade have also Further Information been impressive when compared with those of other market performances, as the graph above demonstrates. David Mitchell Regional Manager, North America ASX is also among leading equity markets for initial t +1 312 788 3363 and secondary capital raising. The World Federation of e [email protected] Exchanges’ (WFE) data shows that ASX ranks fifth in the world for capital raised by listed issuers in the 2010 financial Richard Murphy year. General Manager, Equity Markets t +61 2 9227 0720 ASX has an international reputation for conducting markets of e [email protected] integrity founded on many years of consistent and constant supervision. ASX commits considerable resources to monitoring and supervising the markets it operates thereby ensuring vital investor confidence that contributes to market depth and liquidity.
This is not intended to be financial product advice. To the extent permitted by law, ASX Limited ABN 98 008 624 691 and its related bodies corporate excludes all liability for any loss or damage arising in any way including by way of negligence. This document is not a substitute for the Operating Rules of the relevant ASX entity and in the case of any inconsistency, the Operating Rules prevail.
© Copyright 2011 ASX Limited ABN 98 008 624 691. All rights reserved 2011. MADISONWILLIAMS AND COMPANY