2009 audited financial report."During the year Continental Coal...

2009 audited financial report.
"During the year Continental Coal Limited may have acquired a controlling interest in the shares of Golden
Falls Trading 565 (Proprietary) Limited. BDO have been unable to obtain the financial statements of Golden
Falls Trading 565 (Proprietary) Limited nor sufficient evidence to determine if Continental Coal Limited owns a
controlling interest in the shares of Golden Falls Trading 565 (Proprietary) Limited. As a result, there is no
investment in relation to Golden Falls Trading 565 (Proprietary) Limited recorded by Continental Coal Limited."

"During the year Continental Coal Limited acquired a 49.33% interest in the shares of Vanadium and
Magnetite Exploration Development Co (SA) (Proprietary) Limited, which gives Continental Coal Limited
significant influence over Vanadium and Magnetite Exploration Development Co (SA) (Proprietary) Limited."