morning traders 14 / 12, page-2

KDR Announcement:

FINALISATION OF SETTLEMENT OF MT HOLLAND TENEMENT EXEMPTION AND FORFEITURE MATTER

'The Minister for Mines and Petroleum (Western Australia) has granted exemption certificates for all Mt Holland tenements that are subject to exemption applications. Further, the Perth Mining Warden has granted orders to dismiss all forfeiture applications relating to Mt Holland tenements.

This formally brings these matters to a conclusion.

The outstanding milestone payments from Kidman’s joint venture partner, Sociedad Quimica y Minera de Chile S.A., being US$25 million directly to Kidman and US$60 million directly to the Covalent Lithium joint venture (Kidman share 50%), are now due in accordance with the definitive joint venture agreements. '