bullish technicals, page-5

Successful Transition of the Company
•
Established as profitable producer and exporter
•
In 2010/11 sales revenues increased to approx. A$51m from zero in the previous year
•
In 2010/11 substantial investments made with approx. A$76m spent on exploration expenditure and acquisition of assets
•
This investment is now beginning to be rewarded:
•
Record run-of-mine production and record thermal coal sales
•
Revenues of approx. A$45m for 6 months to Dec 2011
•
Ferreira and Vlakvarkfontein Coal Mines generate aggregate EBITDA of approx. A$9m for 6 months to Dec 2011
•
CCL generates unaudited EBITDA of approx. A$4m for 6 months to Dec 2011
•
Development of Penumbra proceeding on track and forecast to have significant impact on earnings in 2