licence renewal and top 5 holders

From Namibia Stock Exchange 4th August
The issue of the shares in Marenica Minerals (Proprietary) Limited to the Company is subject to the approval of authorities in Namibia. The relevant applications for the approval have been lodged and are in the process of being considered by the relevant authorities. At the date of this Prospectus the Company is not aware of any reasons why the approval will not be granted. However, if the transfer is not approved the Company may suffer significant damage through loss of the opportunity to further discover and develop any mineral resources at the Marenica Project. Exclusive Prospecting Licence 3287, issued by the Ministry of Mines and Energy in the Republic of Namibia (\"Ministry\") and held by Marenica Minerals (Proprietary) Limited, covers the Marenica Project. Exclusive Prospecting Licence 3287 was due for renewal on 29 November 2008. On 25 August 2008 the company lodged and application for renewal of Exclusive Prospecting Licence 3287 in accordance with requirements of the Minerals (Prospecting and Mining) Act 1992 of Namibia. As at the date of pre-listing statement, the renewal of Exclusive Prospecting Licence 3287 has not been granted by the Ministry. The existing licence does not expire during the period in which the application is being considered for renewal. In accordance with the Minerals (Prospecting and Mining) Act 1992 of Namibia, if the holder of a licence has complied with the requirements of the Act then the Ministry may not refuse the renewal. The company is of the view that it has complied with all the requirements to achieve the renewal of Exclusive Prospecting Licence 3287 and while expecting the renewal will be achieved within the near future, the Company cannot predict when this will be achieved due to administrative and processing delays commonly experienced in Namibia. As at 30 July 2009, the top 5 shareholders were as follows: ANZ Nominees Limited 21.53% Citicorp Nominees Pty Limited (Group #647070) 12.65% Batavia Mining Limited 6.69% Citicorp Nominees Pty Limited 4.60% Nefco Nominees Pty Limited 4.03% As at 30 July 2009 the board of directors, including their holding in the Company, were as follows: Director Shares Options Graham Woolford (Non-executive Chairman) 3,500,000 3,000,000 Neil Biddle (Executive Director) 282,250 6,000,000 David Sanders (Non-executive Director) NIL NIL Paul Ingram (Non-executive Director) 2,250,000 1,125,000 Table for informational purposes Date USD - ZAR - AUD - ZAR - USD - AUD NAD NAD 23 July 7.71 6.30 1.22 2009 31 December 9.46 6.54 1.45 2008 30 June 7.96 7.66 1.04 2008 31 December 6.85 6.01 1.14 2007 Source: www.oanda.com

All seems positive for a licence renewal just a matter of when