key achivements - great work

The key achievements throughout the financial year have been extremely impressive - see list below. Things are defintely being well positioned and ready to fuly transition from an explorer to a producer.

I am looking forard to the capital raising. I predicted that we would have 1.5 billion shares on issue in Januray and February this year - this does not concern me in the slightest. I will buy my full allocation.

Once we have the Noble deal conditions met(which had it's deadline extended as l said) then the positive outcomes will be put in place. The logistics and techincial reports have been significantly improved over the course of the year as stated in the report.

I look forward to discussing these key achievements with Kaboko MINING investors. Things are definitely progressing along well.

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• Executed the Share Sales Agreement to acquire 100% of
the share capital of AAMD. Change of name from Uran
Limited to Kaboko Mining Limited. The Group’s securities
commenced trading on the ASX under the new code
“KAB” on 30 November 2011.
• Successful completion of a fully underwritten Rights
Issue raising gross proceeds of approx. A$3m and a
placement to institutional and sophisticated investors
raising gross proceeds of approx. A$1.5m to further fund
mine development and exploration costs in Zambia.
• Strategic offtake agreement executed with Sinosteel
Australia Pty Ltd, a subsidiary of Chinese conglomerate
Sinosteel Corporation and China’s largest importer of
manganese ore, for exports of high quality, high grade
lump manganese ore to China.
• Progressed exploration activities across its Zambian
Manganese Projects.
• Advanced development activities with mine optimisation
and processing plant design work undertaken.
• Increased from an initial 51% to 75% interest in Impondo
Zambia Limited.
• Subsequent to the financial year end the Group executed
binding loan documentation for a staged US$10m secured
Prepayment Debt Facility and a 10 year Manganese Ore
Off-take Agreement with Noble Resources Limited, a
subsidiary of Noble Group Limited.
• Subsequent to financial year end the sale of the Group’s
interests in its New Mexico Uranium projects for USD
$50,000, a 2% Yellow Cake Royalty (net smelter recovery
equivalent), and return of the USD $110,000 cash deposit
for environmental bonds.
Offtake agreement with Sinosteel
The execution of the offtake agreement with Sinosteel
followed the completion of two trial shipments to China of a
total of 510 tonnes of manganese ore delivered to Sinosteel
and another major Chinese steel manufacturer.
The certified results of both the trial shipments confirmed the
high grade and high quality of the manganese ore mined from
the Chowa Open Pit at the Group’s Emmanuel Project.
Under the terms of the Off-take Agreement with Sinosteel,
the Group will deliver total deliveries of 180,000 tonnes over 5
years of a minimum 48% manganese lump ore with minimum
deliveries of 20,000 tonnes for each 12 month period.
Manganese ore sold under the Off-take Agreement will be
priced based on the BHP reference price (expressed in
US$ DMTU (per dry metric ton unit Mn content)), CIF China
basis. The higher of BHP’s 45.5% Manganese Ore (Lumpy)
Reference Price or BHP’s 48% Manganese Ore (Particle)
Reference Price, at the Group’s option. If BHP’s Reference
Price is less than US$3.50 DMTU for more than 4 months
then the Group is not bound to deliver the minimum deliveries.
Production from the Emmanuel Project is forecast to be the
primary source of manganese product to be delivered into theofftake agreement with Sinosteel.