Top 20 potential

UOB Kay Hian Private Ltd is a substantial and strategic Spitfire shareholder. UAB has had some wonderful achievements and the potential technology back door plays that they can bring to the table could provide exceptional shareholder returns. UOB are our largest shareholder - and would benefit greatly from a share price rise.

Eralloys Holding AS is also an asset to Spitfire if we get South Woodie Woodie back online. Eralloys paid approximately 8 cents per share back in 2008 - have retained their shareholding even though they did not participate in the most recent SPP - and will be looking for a return on their investment. My belief is that they would have sold out if they thought this was going nowhere.

Planet Mining had critical financial and board room challenges and were forced into selling their substantial shareholding in Spitifire. Our directors shared the spoils and now have a lot of their own coin in the company. Given the volatility of Planet Mining's board, and their catalogue of false starts, their exit is a positive sign for Spitfire.

Groote Resources - now Northern Manganese Limited (NTM) - has fingers in many exploration pies. They are going through a consolidation phase, have needed to raise money but have retained their interest in Spitfire. There are obvious synergies for SPI and NTM from exploration, corporate and mining perspectives.

HSBC and Citicorp are also on our register. Handy inclusions, especially when acquisitions and mergers are in the pipeline.