Successful Transition of the Company•Established as profitable...

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