wed paper page 58 hsun, page-6

10 March Company Update:

Reserve Bank approval
At the Company’s request, an extension of time has been granted in which to obtain
the approval of the South African Reserve Bank to the foreign exchange aspects of
the Company’s acquisition of Isicebi Carbon Mining (Pty) Ltd (Isicebi), a South
African company that has the right to earn a 70% interest in three coal projects
located in the Waterberg region of South Africa. Due to certain inadequacies in the
application, it has been necessary to provide further information to the Reserve
Bank. Although the extension granted by the vendors is up to 120 days, the
Company expects a decision from the Reserve Bank before the end of April.

So this gives us up to July to complete the RBSA if necessary