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2011 12 31 75.0% 77.7% 69.6% 2032 4 3.7692 600,000 2011 12 31 300,000 400,000 2008 130131 JORC 6.2 6.3JORC2011 12 31 1

2011 12 31 JORC 11,008 59.08 21.51 111.88 1,096 790 19,929 107.73 47.60 103.74 1,686 1,116 30,937 166.81 69.12 215.62 2,782 1,907 1,577 6.34 1.41 15.52 141 99 32,514 173.14 70.52 231.14 2,922 2,006 2011 12 31 JORC 9,104 45.71 15.12 78.80 1,005 862 9,480 48.68 17.02 44.37 797 663 18,584 94.39 32.14 123.17 1,802 1,525 JORC 2526 JORC JORC 11.1 2009 2010 2011 2012 2013 2014 279.42 316.79 357.34 308.9 299.7 291.4 44.35 50.28 56.72 49.04 47.58 46.25 305.27 350.16 393.75 339.31 327.05 321.04 48.46 55.58 62.50 53.86 51.91 50.96 V-57 V-60 11.0 2014600,000 2011 12 31 600,000 31 2011 12 31 300,000 61.9 2

134136 200920102011 12 31 12 31 2009 2010 2011 % % % 1 36,379 42.0 88,490 43.3 114,937 38.7 28,532 33.0 52,197 25.5 68,453 23.1 2 9,502 11.0 10,773 5.3 21,307 7.2 1,177 1.4 8,166 4.0 28,897 9.7 1 4,663 5.4 9,609 4.7 12,503 4.2 1 2 6,262 7.2 11,943 5.8 17,311 5.9 86,515 100.0 181,178 88.6 263,408 88.8 3 23,250 11.4 33,329 11.2 86,515 100.0 204,428 100.0 296,737 100.0 1. 2. 3. 2010 158 2012 1 15 2012 3

2012 1210 (i) (ii) (iii) (ii) 2012 (iii)20122014 12 2012 2011 12 31 2012 4 30 98.184.4 (iii) 141143 4

2011 12 31 2012 2011 12 31 % 20122014 1 112,560 37.9 2,000 2011 1,846 2 53,498 18.0 2,000 2011 2,330 3 29,934 10.1 20,000 2011 35,455 4 27,222 9.2 20,000 2011 30,597 5 15,063 5.1 30,000 2011 36,685 (ii) (iii) (ii) 2011 12 31 12 31 2009 2010 2011 % % % 38,965 45.0 85,250 47.1 124,358 47.2 44,856 51.8 95,928 52.9 139,050 52.8 2,694 3.2 86,515 100.0 181,178 100.0 263,408 100.0 2012 5

2011 12 3197.3% 81.5% 80.3%55.1% 41.6% 37.9% 2011 12 31 2011 12 311 21 31 4 223 5% 141143 6

(i) (ii) 11.3% 23.2% 31.3% 46.2% 13.9% 25.2% 22.9% 30.1% 2011 12 31 0.17% 0.05% 0.07% 143144 7

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4. 2012 4 110113 5. 2012 4 182012 6 21 2,000,0001,618,00032,400,000 2011 12 31 1.75 2.10 0.49 0.60 0.55 0.68 219220 2012 2 21 2011 43.75.2 38.5 2012 2 38.535 2012 4 182012 6 21 Victor Soar 2 32.4 2012 5 3167.7 1.925 241 181.0 75% 24.0 10% 12.0 5% 24.0 10% 223224 12

2011 3 10 AME AME Mineral Economics (Asia) Limited AME AME 2012 6 15 2012 6 12 2012 3 3 A. 3. 13

2011 1 2011 5 13 Victor Soar Victor Soar 14

2012 6 12 2012 6 12 2007 3 16 2008 1 1 2007 12 6 2008 1 1 6 1 4 15

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2012 6 27 2012 6 28 135,000,000 17

2003 50% 2000 80% 20% 2012 6 21 2012 7 10 18

2012 6 12 Globalbaron Holdings Limited 2007 11 23 301,500,000 50.25% 19

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2003 11 262008 1 8 2012 4 27 % (i) (ii) 1.00 0.81 7.80 1.00 24

JORC JORCJORC 19892004 12 JORC JORC JORC 25

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JORC 32

(i)(ii) (iii)(iv) 2011 12 31 39.3 32.6 36.8 2011 12 31 97.3% 81.5% 80.3% 55.1% 41.6% 37.9% 34

2008 7 2008 7 30 2009 4 300,000 2011 12 31 300,570306,580300,070 2007 1 200,000 2009300,000 35

8.2.2 15.0 (i) (ii) 11.3% 46.2% 36

(i) (ii) 2008 7 2008 7 30 2009 4 37

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2011 4 0.05% 10,000 50,000 2009 42011 42011 4 2011 4 3.4 0.6 40

2011 12 31 21.1% 14.3% 11.7% (i) (ii) (iii) (iv) 42

20092010 12 3191.8 61.12011 12 31 18.4 200920102011 12 311.0 0.8 0.42009 12 31 2010 12 312011 12 31 (i)(ii) (iii) (iv) (v) 43

207.9 20122018 (2011) 556 90 2012 154 154 182 1.75 60 45

2011 12 31 43.6% 26.0% AME 46

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2070 2070 48

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8.0 2004 54

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0.71 1.925 1.75 2.10 57

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15,000,000135,000,000 2012 7 4 2012 7 6 59

10% 44B(1) 60

30 22,500,000 15% 61

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AMEAME AME AME AME AME AME AME AMEAME 123,250 69

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AME 2010 19,400,0002007 AEM20122013 3 20072013 2007 2008 2009 2010 2011 2012 2013 18.2 18.1 18.2 19.4 20.0 20.6 21.5 AME AME 20123% 2013 4% AME AME 201112,500,000 200820072013 4 20072013 2007 2008 2009 2010 2011 2012 2013 12.3 12.2 12.5 12.6 12.5 13.6 15.7 AME AME2011 20122013 380 358 AME AME 77

AME2012 5 20072013 2007 2008 2009 2010 2011 2012 2013 7,127 6,955 5,174 7,537 8,819 8,380 7,900 323 315 235 342 400 380 358 1. 2. 20122013 2011 AME 201140% AME 2009200937% 4 2007 5 2013 15% 27% 3% 39% 11% 3% 1% 22% 1% 4% 2% 25% 1% 19% 1% 19% 4% 3% AME AME 78

AME 200720135,000,000 8,000,0009% 5%AME AME AME AME 6 2007 2008 2009 2010 2011 4.5 5.2 6.1 6.5 6.4 AME AME 79

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6 2011 5% 25% 23% 29% 4% 1% 10% 2% 1% AME (Vale)(Rio Tinto) (BHP Billiton) 2011 1,800,000,000 20% 2011 700,000,000 2010 11% 2011 43% 21%2011 AME Pilbara 82

20112009 2009 AME 2008 52008 1190%1986 20062008 2009 2008 20102013 83

8 20072013 2007 2008 2009 2010 2011 2012 2013 1.3 1.3 1.2 1.4 1.5 1.6 1.6 AME 9 20072011 2007 2008 2009 2010 2011 0.5 0.5 0.6 0.6 0.7 AME 10 20072013 2007 2008 2009 2010 2011 2012 2013 1.6 1.6 1.5 1.7 1.8 1.9 2.0 AME 84

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AME 12 20072013 2007 2008 2009 2010 2011 2012 2013 Pilbara Newman 80 145 97 210 265 237 230 1. 2. 2011 AME 4 1 3 31 4 2009 4 (BHP Billiton) Atlas Iron 10% 30% AME AME2014 87

2010100,000,000 2010 AME 7% 1% 20% 45% 55% Skorpion AME 88

2011 1,900,000,000 250,000,000 2011 13 2011 56 43 19 17 12 12 12 5 4 2 68 250 22% 17% 20122013 AME 89

AME 40% 50% AME 25% AME20% 25% 9 7% 25% 45% 23% AME AME 2011 12,600,000 2007 AME 20122013 14 2007 2008 2009 2010 2011 2012 2013 11.2 11.5 10.9 12.5 12.6 13.5 14.1 AME 90

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AME 2012 98 2013 118 17 20072013 2007 2008 2009 2010 2011 2012 2013 3,250 1,870 1,662 2,159 2,186 2,150 2,600 147 85 75 98 99 98 118 1. 2. 2011 AME 80% 55% 65% 2010 5,000,00056% 94

AME 2011 13 20% 80% AME AME2011 2,000,00050% 14 2011 3% 12% 14% 9% 5% 3% 51% 2% 1% AME 95

AME 2011 10,100,000 2007 AME 201120122013 18 20072013 2007 2008 2009 2010 2011 2012 2013 8.3 9.0 9.0 9.6 10.1 10.5 11.0 AME AME 2012 20136% 4% 3% 4% 2011 40% 20092009 16% 15 2007 16 2013 21% 30% 44% 4% 17% 1% 2% 24% 1% 15% 18% 1% 17% 1% 3% 1% AME AME 96

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20072008 2009 17 450 400 4,000 3,500 350 3,000 300 2,500 250 2,000 200 150 1,500 100 1,000 50 500 - - 07 1 07 10 08 7 09 4 10 1 10 10 11 7 12 4 2008 20092010 AME 20122013 101 110 20 20072013 2007 2008 2009 2010 2011 2012 2013 2,596 2,084 1,765 2,147 2,394 2,225 2,425 118 95 80 97 109 101 110 1. 2. 201120122013 2011 AME 98

AME 99

AME 18 2007 19 2013 6% 11% 24% 5% 17% 61% 5% 20% 51% AME AME 20072013 95% AME 21 2007 2008 2009 2010 2011 2012 2013 79.6 77.5 83.2 87.1 90.3 102.9 107.3 AME 100

AME 2010 5% 23,000 20102010 22 2010 4.4 3.6 3.5 1.9 1.3 1.3 1.3 1.2 1.2 0.6 3.0 23.1 AME AME AME 101

AME201220131,600 1,250 2012201330 25 23 20072013 2007 2008 2009 2010 2011 2012 2013 696 872 973 1,225 1,571 1,600 1,250 1. 2. 201120122013 2011 AME 24 20072013 2007 2008 2009 2010 2011 2012 2013 13 15 15 20 35 30 25 1. 2. 20122013 2011 AME 102

2003 11 2006 10 2007 8 2011 5 2011 7 2011 5 13 Victor Soar 67% 33% 1988 1996 2002 1998 103

2002 8 2003 11 26 2053 10 6,855,000 3,315,000 1,281,0002,034,000 2003 3 30 50%2003 3 30 12 20% 3,966,0002003 3 30 50%2,034,000 % 6,855,000 67.4 3,315,000 32.6 10,170,000 100.0 3,315,000 1,281,000 2,034,000 10,170,00020% 104

10.17 67.4% 32.6% 2003 11 50%2003 12 1 50% 62003 3 30 2011 10 27 2003 11 11 2004 2 5 10.1715.175 33% 45.2% 21.8% 2004 6 152004 62009 6 2006 8 8 2006 10 31 3.76922006 10 2012 4 20 2032 4 20 2005 8 2 12.4627.63 18.1% 69.9% 12% 2007 11 17 105

2007 12 7 2008 1 8 101.8 16.87 67.72 12.22 5 2007 12 7 16.6% 4.9% 66.5% 12% 2008 1 8 16.6% 38.5% 4.9% 20.34 47.28 6.03 2007 12 21 2008 1 8 60% 28% 12% 2008 5 15 15% 17.16 2008 6 16 75% 13% 12% 2011 3 2 13%20.5 2011 3 31 88% 12% 106

2011 3 22011 3 25 2007 11 50 301.8 101.889,584,00088% 12,216,00012% (i) (ii) (iii) 107

2003 11 2006 12 2 13%2011 3 2011 1 4 (i) 2011 12 312.0 2.8 3.1 4.03 5.24 6 (ii) (i) 2011 12 31 5.24 6 (ii) 2008 12 31 1.6 2.1 2008 12 31369,200 670,0002007 12 31 2007 8 2008 12 31 2008 2008 2008 2010 12 31 6.1 1.03 2008 2009 108

2012 2 20 (i) (ii) 20072010 (iii) 2011 12 31 (iv) (v) (vi) (vii) 109

2012 2 20 2011 12 31 2012 3 3 12% 207.9 2011 12 31 262.631.5 110

207.9 (i) 6 (ii) 126 (iii) 2014 1220 (iv) 20152018 12 42.5 12 142 2011 12 31 37.4 12 12 125% 111

154 154 182 1.75 (a) (b) 268.8 89.6 (c) (2011) 556 90 (d) (e) (f) 0.025% 112

2012 2012 4 232012 4 27 268.8 89.6 2006 8 14 2007 11 79,999 1.00 9,9992007 11 121 Wilpac Limited 1 1.00 2008 1 5 2008 2008 8 26 2008 8 26 1.00 2008 1 113

2007 11 23 50,000 50,000 1.00 2007 12 18 33,00017,000 1.00 2008 8 261.00 66% 34% 100% 1 13% 75% 2 12% 1. 88% 12% 2. 114

1. 2011 3 10Victor Soar 50,000 50,000 1.00 2011 4 4 1.00Victor Soar Victor Soar 2. 2011 3 10 50,000 50,000 1.00 2011 4 4 1.00 3. 2011 3 31 13% 20.5 2011 3 31 88% 12% 4. 2011 5 13 390,000 3,900,000 0.10 33,500 67%16,500 33% Victor Soar 5. 2011 7 25 33,00017,000 1.00 1.00 6. 2012 4 27207.9 12% 268.8 89.6 115

100 % 100% Victor Soar 67% 33% 100 % 100 % 100% 116

: 100 % 100 % Victor Soar 50.25% 24.75% 25.00% 100% 100% 100% 117

2011 12 31 75.0% 77.7% 69.6% 2032 4 3.7692 600,000 2032 20032006 200,000 2007 12007 8 2008200,000 2011 12 31 300,000 400,000 JORC 2011 12 31 JORC32,514,000 11,008,000 19,929,0001,577,000JORC JORC 2014600,000 2011 12 31 600,000 31 2011 12 31 300,000 61.9 118

2014 1,82078,100 2011 12 31 296.7 151.6 73.3 2011 12 3132,514,000 11,008,000 19,929,0001,577,000 2011 12 31 600,000 312011 12 31 300,000 61.9 2013 2014 1600,000 119

8.3 8.4 200,000 200,000 9.3 2011 356,340 2014600,000 19.0% 10.0 7.0 2010 120

2003 2013 2014 600,000 121

4 (i) (ii) 100 100 500 (i)(ii)(iii) (iv)(v) 2013 12 122

37 33 S318 G320 S318G320 99 45 59 123

115 06 54 115 08 14 28 27 23 28 28 15 4.1 6.2 JORC2011 12 31 2011 12 31 JORC % % % % % 6,218 0.80 49.66 12,989 0.69 89.99 19,206 0.73 139.65 900 0.46 4.16 20,106 0.72 143.81 2,521 0.23 43.47 31.36 5.91 1,096 790 4,192 0.35 40.21 26.63 14.75 1,686 1,116 6,713 0.31 41.44 28.40 20.65 2,782 1,907 319 0.52 44.16 31.05 1.66 141 99 7,032 0.32 41.56 28.52 22.31 2,922 2,006 2,269 0.15 0.95 4.93 3.51 21.51 111.88 2,748 0.11 1.73 3.78 2.99 47.60 103.74 5,017 0.13 1.38 4.30 6.50 69.12 215.62 358 0.15 0.39 4.33 0.52 1.41 15.52 5,376 0.13 1.31 4.30 7.03 70.52 231.14 11,008 59.08 21.51 111.88 1,096 790 19,929 107.73 47.60 103.74 1,686 1,116 30,937 166.81 69.12 215.62 2,782 1,907 1,577 6.34 1.41 15.52 141 99 32,514 173.14 70.52 231.14 2,922 2,006 0.19 13.1 0.17 5.7 0.61 56.7 6.2 124

6.4 JORC2011 12 31 JORC 18,584,000,000 2011 12 31 JORC % % % % % 4,777 0.77 36.74 5,539 0.70 38.55 10,316 0.73 75.29 2,621 0.25 38.35 32.88 6.56 1,005 862 2,621 0.35 30.41 25.30 9.06 797 663 5,241 0.30 34.38 29.09 15.62 1,802 1,525 1,706 0.14 0.89 4.62 2.41 15.12 78.80 1,320 0.08 1.29 3.36 1.07 17.02 44.37 3,026 0.12 1.06 4.07 3.48 32.14 123.17 9,104 45.71 15.12 78.80 1,005 862 9,480 48.68 17.02 44.37 797 663 18,584 94.39 32.14 123.17 1,802 1,525 0.19 13.1 0.17 5.7 0.61 56.7 6.4 125

10.110.210.3 200920112012 2014 20092014 2009 2010 2011 2012 2013 2014 92,190 99,980 118,470 50,000 100,000 150,000 (%) 1.50 1.40 1.28 0.76 0.76 0.76 (%) 0.25 0.23 0.18 0.18 0.18 0.18 12.27 14.20 12.27 12.3 12.3 12.3 1,387 1,396 1,516 380 760 1,140 23.05 23.17 21.32 9.0 18.0 27.0 1,131 1,420 1,454 610 1,230 1,840 146,190 167,130 154,020 300,000 300,000 300,000 (%) 36.50 34.82 35.50 37.7 37.7 37.7 (%) 0.43 0.33 0.52 0.31 0.31 0.31 0.27 0.24 0.17 0.17 0.17 0.17 8.84 14.20 8.18 8.2 8.2 8.2 53,358 58,188 54,675 113,200 113,200 113,200 629 558 807 930 930 930 39.47 40.11 26.18 51.0 51.0 51.0 1,292 2,373 1,260 2,450 2,450 2,450 49,110 36,850 83,850 100,000 100,000 150,000 (%) 0.19 0.20 0.57 0.16 0.16 0.16 (%) 0.88 0.50 0.55 0.87 0.87 0.87 (%) 4.81 4.70 3.63 4.59 4.59 4.59 0.57 0.57 0.57 0.57 0.57 0.57 51.53 51.52 51.52 52.8 52.8 52.8 93 74 478 160 160 240 432 184 461 870 870 1,310 2,362 1,733 3,044 4,590 4,590 6,890 27.99 21.00 47.79 57.0 57.0 85.5 2,531 1,899 4,320 5,280 5,280 7,920 287,490 303,960 356,340 450,000 500,000 600,000 10.1 126

20092014 2009 2010 2011 2012 2013 2014 (%) 87.10 86.10 89.19 86.0 86.0 86.0 (%) (%) 69.00 69.20 88.28 69.0 69.0 69.0 (%) 84.00 82.19 89.19 82.0 82.0 82.0 (%) 30.00 30.30 52.01 30.0 30.0 30.0 (%) 65.0 65.0 65.0 (%) 84.00 85.20 89.17 85.0 85.0 85.0 10.2 20092014 2009 2010 2011 2012 2013 2014 8,142 7,457 11,066 6,020 7,510 9,140 (%) 21.67 22.57 20.97 18.9 19.5 19.9 4.27 2.36 4.28 2.3 2.3 2.4 503 458 336 380 360 360 1,764 1,683 2,321 1,140 1,460 1,820 34.77 36.99 47.41 13.5 17.1 21.9 4,092 3,412 3,719 2,290 2,690 3,270 58,255 63,915 77,889 123,900 123,900 123,900 (%) 63.20 63.00 61.97 63.0 63.0 63.0 36,817 40,266 48,268 78,100 78,100 78,100 1,410 1,410 2,120 (%) 40.0 40.0 40.0 1.6 1.6 1.6 670 670 670 570 700 850 2.3 2.8 3.4 950 950 1,430 4,159 3,145 5,746 7,800 7,800 11,700 (%) 47.70 46.93 47.23 50.0 50.0 50.0 1,984 1,476 2,714 3,900 3,900 5,850 11,153 23,168 64,617 36,300 50,500 69,900 (%) 39.48 38.00 38.90 40.6 41.5 41.5 10.3 127

3.7692 600,000 2012 4 2032 4 20 2032 128

2012 1 8.1 129

2008 2008 200920102011 2012 130

2011 12 31 39.3 32.6 36.8 200,000 131

100,000 100,000 200,000 9.19.2-12 1 65%-0.074 9.1-12 2 65%-0.074 9.2 132

9.3-12 65%-0.074 9.3 9.2 2011 12 31 12 31 2009 2010 2011 200,000 200,000 200,000 287,490 190,570 192,070 (%) 144 (1) 95 96 (2) 200,000 200,000 113,390 164,270 (%) 57 82 1. 200,000 2009 100% 2. 2009 12 31 133

= + 20092010300,570 306,580 287,490 303,9602010 2011 356,340 300,070 10.3 20032006200,000 2007 12007 8 20082011 12 31 300,000 400,000 2014 12 31 450,000500,000600,000 (i) (ii) 134

3542011 12 31 68.8 2011 12 31 2013 12 31 2011 300,070 350,340 68.8 2012 450,000 450,000 128.4 2012 108,600,000 19,800,000 135

2011 12 31 2013 12 31 2013 500,000 500,000 157.0 2013 88,800,000 68,200,000 2014 600,000 600,000 2013 2014 600,000 8.3 8.4 9.3 136

200920102011 12 31 12 31 2009 2010 2011 % % % 1 36,379 42.0 88,490 43.3 114,937 38.7 28,532 33.0 52,197 25.5 68,453 23.1 2 9,502 11.0 10,773 5.3 21,307 7.2 1,177 1.4 8,166 4.0 28,897 9.7 1 4,663 5.4 9,609 4.7 12,503 4.2 1 2 6,262 7.2 11,943 5.8 17,311 5.9 86,515 100.0 181,178 88.6 263,408 88.8 3 23,250 11.4 33,329 11.2 86,515 100.0 204,428 100.0 296,737 100.0 1. 2. 3. 2010 2011 12 31 440,000 137

791,000 719,000 2012 12 31 2011 12 31 1.1 2.3 2.9 2011 12 31 54,000 92,000 97,000 2011 12 31 65.7% 66.7% 63.0% 97.3 124.2 150.5 2012 1 15 2012 2012 12 10 (i) (ii) (iii)(ii) 138

2012 (iii)20122014 12 2012 2011 12 31 2012 4 30 98.184.4 (iii) (ii) (iii) (ii) 139

2011 12 31 12 31 2009 2010 2011 38,965 (45.0%) 44,856 (51.8%) 2,694 (3.2%) 85,250 (47.1%) 95,928 (52.9%) 124,358 (47.2%) 139,050 (52.8%) 86,515 181,178 263,408 (100%) (100%) (100%) 2012 70% 100% 140

2011 12 3197.3% 81.5% 80.3%55.1% 41.6% 37.9% 2011 12 31 2011 12 311 21 31 4 223 5% 141

2011 12 31 2012 2011 12 31 20122014 % 1 112,560 37.9 2,000 2011 1,846 2 53,498 18.0 2,000 2011 2,330 3 29,934 10.1 20,000 2011 35,455 4 27,222 9.2 20,000 2011 30,597 5 15,063 5.1 30,000 2011 36,685 142

AME AME AME (i) (ii) 143

(i) (ii) 11.3% 23.2% 31.3% 46.2% 13.9% 25.2% 22.9% 30.1% 2011 12 31 0.17% 0.05% 0.07% 144

35 2011 12 31 8.7 13.8 15.6 145

400 450 2011 12 31 73.0% 53.5% 53.3% 49.0% 19.8% 27.6% 5% 2011 12 31 75.0% 77.7% 69.6% 146

AME AME 201019,400,00020122013 3%4% AME AME 200720135,000,000 8,000,000 9% AME 2007 1,600,000,000 2013 2,000,000,000 201355% AME 23 147

115-120 V-39 V-408.2.2 V-65 V-6815.0 200920102011 12 31 26.0 60.2 48.8 2006 12 TSF 148

2008 7 30 2008 7 30 2009 3 2009 42009 13 (i)2009 (ii) 2008 (iii)2009 300,570 300,000 2009 2009 4 2012 5 18 2011 12 16 149

2011 6 (i) (ii) 2011 12 21 150

42 (1)(2) (3) (4) 2012 2 14 510 2011 12 31 8.0 13.0 TSF 75% TSF 67% 151

2011 12 31 5.5 1.2 1.6 2013 12 31 2.7 2.2 2011 12 16 152

2011 12 16 (i)(ii) (iii) (iv) 2012 1 B. 2. (A) 153

2011 12 31 263 250 2011 12 31 15 13 9 16 35 25 90 60 263 154

2011 4 0.05% 10,000 50,000 2009 4 2011 4 2011 4 2011 4 3.4 0.6 2011 12 16 2011 4 1 2011 12 31 38,000 132,000 1,182,000 155

206,096 18,900 50 334 2012 3 2031 12 29.746 2012 3 2031 12 1.2 2012 3 2032 3 32292011 12 31 (i)(ii) (iii) 156

2014 34 2012 3 28 (i) (ii) 30 2012 2013 2012 450,000 600,000 55 157

1,186 18,416 2010 2010 2011 12 31 12 31 2009 2010 2011 23,250 33,329 (37) (2,200) (%) (0.2) (6.6) (%) 11.4 11.2 2009 12 31 2011 12 31 36 2011 9 158

2003 11 26 2012 4 20 2010 8 30 2010 8 31 2010 6 6 2010 12 10 2053 10 16 2032 4 20 2013 8 29 2013 8 30 2015 6 5 2013 12 30 300,000 2011 12 31 300,570306,580300,070 2007 1 200,000 2009300,000 2011 7 252012 3 8 2012 4 600,000 (i) 159

(ii) (iii) 2013 62015 1 2011 12 31 11118 15122 2006 8 2008 8 14 18 2010 3 31 160

111 122 2010 3 31 2011 11 25 2011 12 15 (i) 2008 8 14 20072008(ii) 2010 3 312011 11 25 2012 1 18 111 50,000 122 12 300,000 111122 122 161

Victor Soar 50.25% Victor Soar (i) 88% (ii) 80% (iii) 50% 1996 11 11 2000 11 3 2000 82006 7 2006 10 2006 7 2009 1 2009 12 3152011 12 31 5.52011 12 31 1.2 2011 3 31 13% 162

2006 5 2007 12011 12 31 163

(i) (ii) (iii) (iv) 164

103 2003 2004 2008 2008 165

2007 2007 2007 2012 2012 2012 166

59 2003 11 2011 5 13 11 1996 112011 121996 11 2000 102000 102006 7 2006 52007 1 2003 2012 1 2007 200720082010 53 2004 1 2011 5 1311 1996 112003 12 2005 8 2000 10 2000 102006 7 2003 2006 52007 1 2009 7 (Business Administration Advance Research Program) 167

482008 7 2012 6 12 30 19812008 2012 1 2010 9 2001 9 1989 6 44 2008 1 2012 6 12 13 200819911997 2004 92007 12 1991 6 50 2012 6 12 2007 11 16 1995 12000 10 168

41 2012 6 12 2007 11 2010 816 19951995 3 LED 2006 2 53 2007 12 2012 6 12 29 19822005 2005 72007 12 1993 1982 7 50 112000 32007 7BHP Billiton Limited BLT BHP 2007 8 BHP Billiton Int l Trading (Shanghai) Co., Ltd. 1994 121997 5 (Australian Institute of Management) 1983 7 1990(Ecole Centrale Paris) 2000 5 (Royal Melbourne Institute of Technology) 169

44 2006 11 2626 2009 3 2008 1994 1991 72002 12 36 2010 6 2012 6 28 YAL 10 20042010 01088 601088 19982001 1998 7 2003 12 (The University of Melbourne) 13.51(2) 170

59 53 48 44 38 FCCA, HKICPA 382011 7 2012 5 7 152010 22011 68321 20032010 Kingsun-Aima Biotech Co. Ltd. 200020031996 1999 Nelson Wheeler 1996 FCCA, HKICPA 38 8.12 8.12 8.12 171

3A.19 13.46 3A.23 (a) (b) (c) (d) 13.10 2012 6 123.2114 C3 2012 6 12 14 B1 172

2012 6 12 14 A.4.4 2011 12 31 258,000 962,000 1,863,000 11 2011 12 31 2011 12 31 505,000 523,000 862,000 2012 12 31 2,729,000 173

1,000,000,000 0.10 100,000,000 50,000 5,000 449,950,000 44,995,000 150,000,000 15,000,000 600,000,000 60,000,000 (a) (b) (c) 174

(1) 20% (2) A. 3. 10% A. 6. 175

A. 3. 176

XV23 10% (1) Victor Soar (2) 301,500,000 50.25% (2) 301,500,000 50.25% (3) 301,500,000 50.25% (4) 148,500,000 24.75% (4) 148,500,000 24.75% (5) 148,500,000 24.75% 1. 2. Victor Soar 3. Victor Soar301,500,000 4. 5. 148,500,000 XV23 10% 177

2011 12 31 18,600,000 2011 12 31 75.0% 77.7% 69.6% 2011 12 31 42.0% 48.8% 43.6% 2011 12 31 33.0% 28.8% 26.0% 20032006200,000 2007 12007 8 2008 2013 2011 12 31 300,000 400,000 2013 600,000 2011 12 31 287,490303,960356,340 178

6.2 JORC2011 12 31 2011 12 31 JORC % % % % % 6,218 0.80 49.66 12,989 0.69 89.99 19,206 0.73 139.65 900 0.46 4.16 20,106 0.72 143.81 2,521 0.23 43.47 31.36 5.91 1,096 790 4,192 0.35 40.21 26.63 14.75 1,686 1,116 6,713 0.31 41.44 28.40 20.65 2,782 1,907 319 0.52 44.16 31.05 1.66 141 99 7,032 0.32 41.56 28.52 22.31 2,922 2,006 2,269 0.15 0.95 4.93 3.51 21.51 111.88 2,748 0.11 1.73 3.78 2.99 47.60 103.74 5,017 0.13 1.38 4.30 6.50 69.12 215.62 358 0.15 0.39 4.33 0.52 1.41 15.52 5,376 0.13 1.31 4.30 7.03 70.52 231.14 11,008 59.08 21.51 111.88 1,096 790 19,929 107.73 47.60 103.74 1,686 1,116 30,937 166.81 69.12 215.62 2,782 1,907 1,577 6.34 1.41 15.52 141 99 32,514 173.14 70.52 231.14 2,922 2,006 0.19 13.1 0.17 5.7 0.61 56.7 6.2 179

6.4 JORC2011 12 31 JORC 18,584,000 2011 12 31 JORC % % % % % 4,777 0.77 36.74 5,539 0.70 38.55 10,316 0.73 75.29 2,621 0.25 38.35 32.88 6.56 1,005 862 2,621 0.35 30.41 25.30 9.06 797 663 5,241 0.30 34.38 29.09 15.62 1,802 1,525 1,706 0.14 0.89 4.62 2.41 15.12 78.80 1,320 0.08 1.29 3.36 1.07 17.02 44.37 3,026 0.12 1.06 4.07 3.48 32.14 123.17 9,104 45.71 15.12 78.80 1,005 862 9,480 48.68 17.02 44.37 797 663 18,584 94.39 32.14 123.17 1,802 1,525 0.19 13.1 0.17 5.7 0.61 56.7 6.4 180

2011 9 181

2011 12 31 12 31 2009 2010 2011 1 1,155 2,132 2,362 36,379 88,490 114,937 31,497 41,506 48,661 27 45 47 4,663 9,609 12,503 172,704 213,533 266,021 3,041 4,272 3,719 6,114 11,841 17,106 2,011 2,772 4,600 58,967 63,642 77,701 28,532 52,197 68,453 484 820 881 2 1,326 1,120 2,330 9,502 10,773 21,307 7,166 9,618 9,145 438 303 727 148 102 205 3 338 337 282 11,153 23,168 64,560 1,177 8,166 28,897 105 352 447 1. 182

2. 3. 2011 12 31 600,000 31 2011 12 31300,000 61.9 10.0 183

11.0 20092014 2009 2010 2011 2012 2013 2014 136.74 107.10 103.26 103.0 101.0 103.0 36.66 62.91 53.74 54.1 54.0 52.2 173.40 170.01 157.01 157.1 155.0 155.2 27.52 26.99 24.92 24.94 24.60 24.63 5.96 10.12 11.16 10.2 9.2 7.7 19.87 26.72 31.33 28.3 28.3 28.3 23.19 22.75 23.46 21.7 20.0 21.7 49.02 59.58 65.95 60.2 57.5 57.7 7.78 9.46 10.47 9.56 9.13 9.15 29.27 46.35 80.30 54.1 51.6 48.3 0.77 0.81 1.30 0.8 0.8 0.8 4.19 8.08 9.67 7.0 6.9 7.1 15.19 21.95 35.25 21.7 22.8 21.6 6.55 9.01 6.98 7.0 4.2 1.03 1.00 0.89 1.0 0.9 0.8 57.00 87.20 134.38 91.6 87.2 78.5 9.05 13.84 21.33 14.54 13.84 12.46 279.42 316.79 357.34 308.9 299.7 291.4 44.35 50.28 56.72 49.04 47.58 46.25 305.27 350.16 393.75 339.31 327.05 321.04 48.46 55.58 62.50 53.86 51.91 50.96 22,314 24,908 23,624 28,200 27,700 26,500 3,542 3,954 3,750 4,480 4,400 4,210 24,379 27,531 26,031 31,000 30,300 29,200 3,870 4,370 4,132 4,920 4,800 4,630 11.1 184

2009 2011300,000 20092011 20092011 2011 12 31300,000 2014600,000 2011 V-57V-60 11.0 11.1 11.2 185

20092010 20102011 0.7% 5.4% -0.7% 0.0% 23.4% 9.7% 54.4% 17.3% 2011 12 310.55 0.58 0.60 2011 12 3111.7% 20072013AME 5,000,000 8,000,0009% 186

187

20 20 2032 JORC 2011 12 31 628,000 642,000 692,000 2011 12 31300,000 2012 450,0002013 500,0002014 600,000 2032 20122013 12 31 341,000 378,000 188

189

200920102011 12 31 625,000 928,000 1,245,000 2011 12 31 0.99 0.99 0.93 190

12 31 2009 2010 2011 86,515 204,428 296,737 (54,365) (114,543) (145,130) 32,150 89,885 151,607 151 5,601 4,373 (1,205) (2,457) (3,446) (10,045) (17,070) (23,726) (6,746) (6,877) (1,883) (2,740) (2,487) 19,168 73,219 112,698 (5,346) (19,392) (31,004) 13,822 53,827 81,694 10,558 48,430 73,258 3,264 5,397 8,436 13,822 53,827 81,694 191

2009 20092011 2009 86.52011 296.7 85.2% 12 31 2009 2010 2011 % % % 1 11,487 21.1 16,323 14.3 17,023 11.7 2 39,311 72.3 32,555 28.4 36,797 25.4 3,650 6.7 6,323 5.5 8,692 6.0 8,694 16.0 13,760 12.0 15,583 10.7 584 1.1 479 0.4 514 0.4 6,145 11.3 8,693 7.6 10,460 7.2 3 1,450 2.7 2,140 1.9 7,358 5.1 297 0.5 303 0.3 317 0.2 2,636 4.9 3,047 2.7 7,292 5.0 439 0.8 593 0.5 839 0.6 74,693 137.4 84,216 73.6 104,875 72.3 5 (20,328) (37.4) 7,040 6.1 4,726 3.3 54,365 100.0 91,256 79.7 109,601 75.6 4 23,287 20.3 32,126 22.1 3,403 2.3 23,287 20.3 35,529 24.4 54,365 100.0 114,543 100.0 145,130 100.0 193

1. 2. 3. 4. 2009 5. 2009 12 31 39.3 2010 12 3132.6 2010 2011 12 31 36.8 2009 12 313.7 2010 12 316.3 2011 12 31 8.7 2009 12 31 8.7 2010 12 3113.82011 12 3115.6 2009 12 316.12010 12 31 8.72011 12 31 10.520102011 2009 12 311.52010 12 312.12010 2011 12 31 7.4 2011 194

5 7 10 2011 12 31 7.3 20113.6 2010 12 12 31 2009 2010 2011 % % % 32,150 37.2 89,922 49.6 153,807 58.4 (37) (0.2) (2,200) (6.6) 32,150 37.2 89,885 44.0 151,607 51.1 2010 12 31 89.9 2009 12 3132.2179.2%2011 12 31 2010 12 31 68.6%151.6 2009 12 31 37.2% 2010 12 31 44.0%2011 12 31 51.1% 2010 20102011 2011 3.4 2011 12 310.1 5.6 4.4 195

2011 12 311.2 2.5 3.4 2011 12 31 1.1 2.3 2.9 12 31 2009 2010 2011 3,382 5,726 7,769 505 662 1,194 1,090 1,233 2,077 1,235 270 222 1,730 3,623 5,268 457 633 713 1,646 4,923 6,483 10,045 17,070 23,726 2010 2009 196

2011 12 31 6.7 2007 3 16 2007 12 6 2008 1 1 25% 25% 12 31 2009 2010 2011 19,168 73,219 112,698 25% 4,792 18,305 28,175 145 118 500 (32) (644) (766) 441 1,613 3,095 5,346 19,392 31,004 27.9% 26.5% 27.5% 197

200920102011 12 31 27.9% 26.5% 27.5% 2011 12 31 2010 12 31 2010 204.4 45.2% 2011 296.7 2011 12 31 2,36277,70164,560 2010 12 31 2,13263,642 23,16810.8% 22.1% 178.7% 2011 48,661 881 447 201041,506 820 352 17.2% 7.6% 27.0% 2010 23.32011 33.3 2010 91.320.0% 2011 109.6 2010 23.352.4% 2011 35.5 198

2011 12 31 151.6 2010 12 3189.968.6% 2010 12 31 44.0% 2011 12 31 51.1% 2010 5.6 1.2 20114.4 2010 2010 2.536.0% 2011 3.4 2010 17.138.6% 2011 23.7 2011 12 31 6.9 2010 2.77.4% 2011 2.5 2011 199

2011 31.0 28.82.2 2010 19.4 17.9 1.9 0.4 2011 2011 51.9% 27.9 2010 12 3153.82011 12 31 81.72010 12 31 26.3% 2011 12 31 27.5% 2010 12 3148.4 51.4% 24.92011 12 3173.3 2010 12 31 2009 12 31 2009 86.5 136.3% 2010 204.4 2010 12 31 2,132 63,642 2009 12 31 1,15558,96784.6% 7.9% 201041,506 820 2009 31,497 484 31.8% 69.4% 2010 200

2010 23.3 11.4%2009 2009 54.467.8% 2010 91.3 2010 23.3 2010 12 3189.9 2009 12 3132.2179.2% 2009 12 31 37.2% 2010 12 31 44.0% 2009 0.1 5.5 2010 5.6 2009 1.2108.3% 2010 2.5 2009 10.071.0% 2010 17.1 2009 1.942.1% 2010 2.7 2010 201

201019.4 17.9 1.90.4 20095.3 5.0 0.40.1 2010 2010 2009 12 3113.8 2010 12 3153.8 289.9% 40.02009 12 31 16.0% 2010 12 31 26.3% 2009 12 3110.6 2010 12 3148.4 356.6% 37.8 200920102011 12 31 6.5 30.5 37.4 202

2009 12 31 2010 2011 2012 4 30 217 217 484 484 26,009 60,169 48,803 46,651 15,375 7,393 3,779 8,605 175 175 6,467 30,526 37,380 41,473 48,243 98,480 90,446 97,213 37,410 39,055 40,113 26,114 4,578 4,578 216 216 83,523 87,440 7,297 8,907 879 6,008 12,000 4,652 13,512 15,459 25,001 9,000 9,000 9,000 9,000 140,042 159,593 72,085 81,238 (91,799) (61,113) 18,361 15,975 2009 12 31 5.52009 20092010 12 31 91.8 61.1 20092010 12 31 83.5 87.4 2011 12 3118.4 2011 70.6 2012 4 30 45,000,000 203

2009 12 3191.8 2011 12 3118.4 2012 4 302012 4 30 8.4 12 31 2009 2010 2011 9,337 48,062 113,258 (21,926) (25,355) (56,942) 17,829 1,352 (49,462) 5,240 24,059 6,854 1,227 6,467 30,526 6,467 30,526 37,380 2009 12 319.3 28.6 15.122.2 8.24.0 204

2010 12 3148.1 83.5 1.6 8.0 34.2 10.9 2010 2011 12 31113.3 127.5 11.6 26.9 2009 12 3121.9 24.52.6 2010 12 3125.4 28.3 2.6 2011 12 3156.9 42.0 26.812.5 2009 12 3117.8 32.0 11.3 2.9 2010 12 311.4 12.7 1.015.0 205

2011 12 3149.5 12.1 13.8 3.0 2011 3 31 13% 20,523,000 2009 12 315.5 2009 20092010 12 31 91.8 61.1 20092010 12 31 83.5 87.4 2010 12 31 35.7 2010 2011 12 3118.4 2011 70.6 2012 4 30 45,000,000 2011 12 3137.4 2011 12 31 9.3 48.1 113.3 12 2012 4 30 45 2011 12 3137.4 2012 4 30 41.5 241 1.925 206

125% 200920102011 12 3110.3 10.1 22.1 2011 12 31 2010 12 31 12.0 2010 12 31 2009 12 31 0.2 60 12 31 2009 2010 2011 0 30 8,771 4,207 31 60 3,510 61 90 90 907 45 13,188 4,252 34 16 3 207

2010 12 31 2009 12 318.9 2010 2009 2010 200934 16 2009 2010 2011 12 31 2011 201016 3 12 31 2009 2010 2011 2,148 2,587 3,324 39 554 455 2,187 3,141 3,779 2010 12 31 2009 12 310.5 2010 2011 12 31 2010 12 310.7 20102011 208

200920102011 12 31 26.0 60.2 48.8 2009 20102011 12 31 44.4 36.1 2010 12 31 2009 12 31 34.2 44.4 2011 12 31 2010 12 3111.4 200920102011 12 31 365 2009 20102011 12 31 100137137 2009 12 31 100137 2010 2011 12 31 2011 12 31 3.4 2012 3 312011 12 317.8 2012 3 31 2012 (i) (ii) (iii) 209

12 31 2009 2010 2011 0 30 6,966 7,416 5,859 31 60 4,408 4,239 1,999 61 90 3,128 3,640 233 91 180 10,525 2,424 209 180 638 621 291 25,665 18,340 8,591 125 70 34 2010 12 31 2009 12 31 7.4 201090 2011 12 31 2010 12 31 9.7 2011 12 31125 7034 12 31 2009 2010 2011 2,159 10,014 19,335 8,915 8,312 10,763 671 2,389 1,424 11,745 20,715 31,522 210

2010 12 31 2009 12 31 2011 12 31 2010 12 31 2011 12 312010 12 31 2010 12 31 2009 12 31 2011 12 31 2010 12 31 2010 12 31 2009 2010 2011 5,351 5,646 4,955 19,106 22,692 21,865 47 12,467 29,547 24,504 28,338 68,834 20122013 128.4 157.0 211

12.0 20062013 2006 2007 2008 2009 2010 2011 2012 1 2013 2 20,163 37,678 5,983 6,404 10,226 7,464 108,600 88,800 6,112 14,453 400 14,555 6,013 149 31,900 1,250 4,870 109 587 8,416 17,937 15,600 1,300 2,540 310 271 887 1,000 4,719 39,891 47 42,013 3,500 12,000 30,269 700 9,200 2,911 3,412 384 24,800 46,783 127,471 6,492 24,504 28,338 68,834 128,400 157,000 7,426 20,233 1,030 3,890 4,498 10,926 20,380 24,920 12.1 1. 2012108,600,000 19,800,000 2. 201388,800,000 68,200,000 20062007 200,000 20092010 300,000 20112013300,000 400,000 600,000 3542010 1 58% 9% 11% 212

2009 12 31 2010 2011 2012 4 30 9,000 9,000 9,000 9,000 39,000 45,000 36,000 36,000 48,000 54,000 45,000 45,000 6.34% 6.34% 5.76%- 5.94%- 5.94%- 7.10% 4,578 4,578 216 216 83,523 87,440 7,297 8,907 879 6,008 12,000 141,584 88,980 98,026 7,513 162,707 213

200920102011 12 312009 2010 12 312011 7 20092010 2011 8.4 2012 5 6 6 2012 (2011) 556 2012 4 3045.0 41.5 2012 4 30 2012 4 30 20092010 12 31 214

2011 12 31 2011 12 31 174 102 276 12 31 2009 2010 2011 3,225 13,629 10,893 2010 12 31 15.0 2011 12 31 2011 12 31 2012 4 30 2012 4 30 2012 4 30 215

12 31 2009 2010 2011 1 0.3 0.6 1.3 2 1.0 0.8 0.4 1. 2. 20092010 2011 12 31 0.3 0.6 1.32011 12 31 2009 12 31 200920109.3 48.0 2011 113.3 20092010 2011 12 31 1.0 0.8 0.42009 12 31 20102011 12 31 2011 2011 12 31 7.3 2011 3 31 63.111.6% 2012 3 31 70.42012 3 31 27.8% 133.6% 13.1% 23.1% 2012 3 216

31 8 20 2012 3 313.8% 2012 3 31 31.8%35.5% 23%26.9 31.137.8% 105,073 144,8112011 3 3125616.4% 2012 3 31 214 2012 3 31 57.4% 55.8% 2012 2011 3 31 1.72012 3 312.8 4.52.2 2011 12012 11.3 2012 3 31 2012 20122012 2012 12 312011 (i) (ii) (iii) (iv) 2011 12 31 75.0% 68.8% 61.8% 217

2011 8 10.5 2011 126.9 218

200920102011 99.3 103.3 105.4 2009 20102011 12 31 27.0% 37.0% 0% 219

2012 2 21 2011 43.75.2 38.5 2012 2 38.535 2012 4 182012 6 21 Victor Soar 2 32.4 2012 5 3167.7 2011 12 3158.5 4.29 2011 12 31 2011 12 31 2011 12 31 2011 12 31 2011 12 31 1 2 3 4 3 1.75........ 143,387 182,214 325,601 0.54 0.67 2.10........ 143,387 223,038 366,425 0.61 0.75 220

1. 2011 12 31 152,908 (9,521) 143,387 2. 1.75 2.10 150,000,000 3. 0.811.00 4. 600,000,000 5. 2012 4 2011 12 31 135 2011 12 31 150 15 6. 2012 4 182012 6 21 2,000,0001,618,000 32,400,000 2011 12 31 1.75 2.10 0.49 0.60 0.55 0.68 7. 2012 3 31 81.8 2012 3 31 10.42011 12 31 0.3 221

2012 3 31 81,840,0002012 3 31 5.07 2011 12 31 68,250 2012 3 31 3,612 (385) (85) 2012 3 31 71,392 2012 3 31 10,448 2012 3 31 81,840 2011 12 31 13.13 13.19 222

1.925 241 75%181.0 10%24.0 5%12.0 10%24.0 25.2 41.7 223

(i)(ii) (iii) (iv) 224

(a) 15,000,000 135,000,000 (i) 10% (ii) 225

(a) (i) (ii) (iii) (iv) (v) (b) (i) (ii) 226

(iii) (iv) (v) (vi) (vii) (viii) (ix) (x) (xi) 227

(1) (2) (3) Victor Soar (i) (a) 228

(b) (c) (a)(b) (d) (a)(b)(c) (ii) (i) (i)(a) (d) 30% (iii) (i)(i) (a) (b) 229

(b) 30 22,500,000 15% (c) 3% 47.41.9251.75 2.10 (d) 3A.19 13.46 231

2.101.75 2.10 1%0.003% 0.005% 2,0004,242.34 2012 7 4 2012 7 6 (i) 10% (ii) (iii) 232

2012 7 28 2012 7 9 (i) (ii) 150,000,000 135,000,000 15,000,000 150,000,000 25% 15,000,000 10% 150,000,000 135,000,000 90% S S 22,500,000 15% 233

2012 7 9 www.hkex.com.hk www.wgmine.com 135,000,000 90% S S 234

15,000,000 10% 5 5 7,500,000 15 50 45,000,000 30% 50 100 60,000,000 40% 100 235

75,000,00050% (i)(ii) 22,500,000 15% 27.7% 236

22,500,000 15% 10.07(3)10.07(1)(a) (1) (2) (i) (ii) (iii)(iv) (v) 237

2012 7 10 2012 7 10 238

(i)(ii) (iii) 18 S S www.hkeipo.hk 239

1 1 1 1 2012 6 28 2012 7 4 181 27 168-200 16 1611 99-105 18 240

189 23 28 45 361 201 636 4 859 8 21 251 37 2012 6 282012 7 4 199 2 241

(a) (b) (c) (d) (a) (b) (i) (ii) (c) (i) (ii) 242

(d) (i) (ii) (a) www.hkeipo.hk (b) www.hkeipo.hk (c) (d) 243

www.hkeipo.hk (e) (f) 2,000 2,000 www.hkeipo.hk (g) (h) www.hkeipo.hk 2012 7 4 www.hkeipo.hk (i) www.hkeipo.hk www.hkeipo.hk 244

www.hkeipo.hk www.hkeipo.hk 2979 7888https://ip.ccass.com 199 2 245

(i) (ii) 246

2012 7 28 2012 7 28 40 2012 7 28 247

2,0002,000 248

40 40 (i) (ii)2012 7 4 249

100% 250

2.101%0.003% 0.005%2,000 4,242.34 2012 7 4 2.10 251

2012 7 4 2012 6 28 2012 6 29 2012 6 30 2012 7 3 2012 7 4 2012 7 4 2012 6 282012 7 4 24 www.hkeipo.hk 2012 7 4 www.hkeipo.hk 252

2012 6 28 (1) 2012 6 29 (1) 2012 6 30 (1) 2012 7 3 (1) 2012 7 4 (1) 1 2012 6 28 2012 7 4 24 2012 7 4 2012 7 4 2012 7 4 253

2012 7 28 2012 7 28 40 2012 7 28 254

100% 255

2012 7 9 www.wgmine.com www.hkexnews.hk 2012 7 9 2012 7 15 24 www.tricor.com.hk/ipo/result 2012 7 9 www.wgmine.com www.hkexnews.hk 2012 7 9 2012 7 12 3691 8488 2012 7 9 2012 7 11 256

2012 7 4 2012 7 9 2012 7 9 2012 7 9 257

2012 7 9 2012 7 9 (i) (ii) (i) (ii) (iii) 1% 0.005% 0.003% 2012 7 9 258

www.hkeipo.hk1,000,000 2826 2012 7 9 2826 1,000,000 1,000,000 2012 7 9 2012 7 9 259

2012 7 9 2012 7 9 2012 6 28 2012 7 4 2012 7 9 2012 7 10 2,000 260

2011 12 31 2012 6 28 2011 5 13 2011 7 25 12 31 2009 2010 2011 2007 11 23 50,000 100% 100% 100% 100% 2006 8 14 10,000 100% 100% 100% 100% (#) 2003 11 26 101,800,000 88% 88% 88% 100% # 2012 4 27 I-1

12 31 2011 3 31 3 312011 4 1 3 3112 31 2011 3 31 2011 4 1 2011 12 31 JH CPA Alliance Limited 2009 12 31 2011 12 31 3.340 A 1 I-2

A 1 2009 12 312010 12 312011 12 31 2011 12 31 A. 12 31 2009 2010 2011 5 86,515 204,428 296,737 (54,365) (114,543) (145,130) 32,150 89,885 151,607 6 151 5,601 4,373 (1,205) (2,457) (3,446) (10,045) (17,070) (23,726) (6,746) 7 (6,877) 8 (1,883) (2,740) (2,487) 19,168 73,219 112,698 9 (5,346) (19,392) (31,004) 10 13,822 53,827 81,694 10,558 48,430 73,258 3,264 5,397 8,436 13,822 53,827 81,694 13 2 11 16 I-3

12 31 2011 12 31 2009 2010 2011 14 106,179 126,866 142,441 15 10,855 10,213 9,521 16 17 10,082 9,865 21,626 18 29,547 1,793 1,028 1,055 19 306 382 1,312 22 1,596 129,215 148,354 207,098 17 217 217 484 20 26,009 60,169 48,803 21 15,375 7,393 3,779 24(a) 175 175 22 6,467 30,526 37,380 48,243 98,480 90,446 23 37,410 39,055 40,113 24(b) 4,578 4,578 216 24(c) 83,523 87,440 7,297 25 879 6,008 4,652 13,512 15,459 26 9,000 9,000 9,000 140,042 159,593 72,085 (91,799) (61,113) 18,361 37,416 87,241 225,459 I-4

12 31 2011 12 31 2009 2010 2011 26 39,000 45,000 36,000 19 743 431 3,526 27 2,593 5,166 17,166 28 625 928 1,245 42,961 51,525 57,937 29 370 370 (12,825) 29,168 152,908 (12,455) 29,538 152,908 6,910 6,178 14,614 (5,545) 35,716 167,522 37,416 87,241 225,459 I-5

2009 1 1 370 3,658 (22,223) (18,195) 7,407 (10,788) 10,558 10,558 3,264 13,822 12 (4,818) (4,818) (3,761) (8,579) 1,874 (1,874) 2009 12 31 370 5,532 (18,357) (12,455) 6,910 (5,545) 48,430 48,430 5,397 53,827 12 (6,437) (6,437) (6,129) (12,566) 6,985 (6,985) 2010 12 31 370 12,517 16,651 29,538 6,178 35,716 73,258 73,258 8,436 81,694 34 (20,523) (20,523) (20,523) 24(c) 70,635 70,635 70,635 (370) 370 10,917 (10,917) 2011 12 31 71,005 23,434 58,469 152,908 14,614 167,522 I-6

12 31 2009 2010 2011 19,168 73,219 112,698 6,607 9,284 11,845 628 642 692 200 217 439 298 303 317 3,403 1,883 2,740 2,487 (24) (173) (781) (125) (80) (43) (450) (125) (2,549) (3,055) 28,635 83,515 127,515 (22,172) (34,160) 7,963 (8,232) 7,982 3,614 15,116 1,645 1,058 13,347 58,982 140,150 (4,010) (10,920) (26,892) 9,337 48,062 113,258 I-7

12 31 2009 2010 2011 2,593 2,616 12,450 24 173 781 175 194 82 (47) (12,467) (29,547) (24,457) (28,338) (26,820) (1,596) (39) (21,926) (25,355) (56,942) 30,000 15,000 1,808 150 29 (20,523) (9,000) (9,000) (9,000) (4,362) (2,860) (1,000) (3,030) (2,978) (6,453) (2,269) (3,677) (3,116) 17,829 1,352 (49,462) 5,240 24,059 6,854 1,227 6,467 30,526 6,467 30,526 37,380 I-8

1. 2007 11 23 50,000 50,000 1.00 2007 12 18 33,00017,000 1.00 2011 7 25 33,00017,0001.00 2011 3 3175% 13% 88%2011 3 3120,523,000 13% 20092010 12 31 2. 2011 1 1 20092011 1 7 2 7 1 9 3 9 7 9 3 10 1 11 1 12 1 13 1 1 5 12 4 192011 1 272011 1 282011 1 32 6 20 1 I-9

1 2013 1 1 2 2011 7 1 3 2015 1 1 4 2012 1 1 5 2012 7 1 6 2014 1 1 3. I-10

I-11

20 I-12

I-13

4. 3 I-14

20 2009 12 312010 12 31 2011 12 31 10,855,000 10,213,000 9,521,000 15 2009 12 312010 12 312011 12 31625,000 928,000 1,245,00028 2009 12 312010 12 312011 12 31 106,179,000 126,866,000 142,441,00014 5. 12 31 2009 2010 2011 86,515 181,178 263,408 23,250 33,329 86,515 204,428 296,737 I-15

3 20 2009 12 31 86,515 86,515 19,105 19,105 151 (60) (28) 19,168 7,407 7,407 2010 12 31 181,178 23,250 204,428 67,743 (37) 67,706 5,601 (46) (42) 73,219 I-16

10,101 10,101 125 125 2011 12 31 263,408 33,329 296,737 125,211 (2,200) 123,011 4,373 (6,877) (6,746) (971) (92) 112,698 12,884 12,884 80 80 3,403 3,403 I-17

2009 12 31 170,030 170,030 6,948 480 177,458 90,687 90,687 92,316 183,003 2010 12 31 167,142 48,171 215,313 31,083 438 246,834 105,641 1,854 107,495 103,623 211,118 I-18

2011 12 31 220,399 36,121 256,520 40,678 346 297,544 101,453 364 101,817 28,205 130,022 12 31 2009 2010 2011 36,379 88,490 114,937 28,532 52,197 68,453 9,502 10,773 21,307 1,177 8,166 28,897 4,663 9,609 12,503 6,262 11,943 17,311 86,515 181,178 263,408 18,536 22,106 4,714 8,809 2,414 23,250 33,329 86,515 204,428 296,737 I-19

10% 12 31 2009 2010 2011 A 1 47,684 85,053 112,560 B 2 4 24,887 53,498 C 3 13,681 24,520 29,934 D 3 14,153 21,324 4 1 2 3 4 10% 6. 12 31 2009 2010 2011 24 173 781 123 2,573 3,055 i 43 450 ii 2,680 125 80 4 7 7 151 5,601 4,373 (i) 27 (ii) 7. 2011 12 31 6,877,000 I-20

8. 12 31 2009 2010 2011 2,071 2,001 3,116 198 1,676 2,269 3,677 3,116 (386) (937) (629) 1,883 2,740 2,487 12 31 2009 2010 2011 6.34 5.94 6.42 9. 12 31 2009 2010 2011 4,979 17,855 28,839 382 1,925 19 (15) (388) 2,165 5,346 19,392 31,004 25% I-21

12 31 2009 2010 2011 19,168 73,219 112,698 25% 4,792 18,305 28,175 145 118 500 (32) (644) (766) 441 1,613 3,095 5,346 19,392 31,004 10. 12 31 2009 2010 2011 11 258 962 1,863 7,022 11,242 14,860 38 132 1,192 7,318 12,336 17,915 6,607 9,284 11,845 628 642 692 200 217 439 7,435 10,143 12,976 15 32 13 74 3,403 54,365 114,543 141,727 I-22

11. (a) 2009 12 31 150 150 54 54 54 54 258 258 2010 12 31 300 300 100 100 182 182 100 100 100 100 80 80 100 100 962 962 I-23

2011 12 31 600 600 200 200 6 501 507 6 200 206 100 100 100 100 150 150 12 1,851 1,863 (b) 2009 12 312010 12 312011 12 31 2009 12 312010 12 312011 12 31 12 31 2009 2010 2011 487 504 849 18 18 13 505 522 862 1,000,000 I-24

12. 2012 4 182012 6 21 C 12 31 2009 2010 2011 7,630 38,509 4,818 6,437 3,761 6,129 16,209 51,075 (7,630) (38,509) 8,579 12,566 2009 2007 12 312008 12 31 5,256,000 10,953,000 2010 2009 12 312010 12 31 20,075,000 31,000,000 13. 12 31 2009 2010 2011 10,558 48,430 73,258 450,000 450,000 450,000 50,0002009 1 1 449,950,000 I-25

14. 2009 1 1 53,504 18,370 16,920 1,707 435 12,013 102,949 3,087 233 1,962 146 117 19,106 24,651 6,971 (6,971) 2009 12 31 56,591 25,574 18,882 1,853 552 24,148 127,600 4,916 291 1,520 545 76 22,692 30,040 10,174 14,585 11,924 478 (37,161) (235) (181) (30) (446) 2010 12 31 71,681 40,450 32,091 2,695 598 9,679 157,194 2,159 399 2,094 217 688 21,865 27,422 2,247 1,596 208 773 (4,824) (220) (17) (237) 2011 12 31 76,087 42,445 34,393 3,465 1,269 26,720 184,379 2009 1 1 7,059 2,199 5,010 467 79 14,814 2,911 599 2,647 357 93 6,607 2009 12 31 9,970 2,798 7,657 824 172 21,421 3,540 1,078 4,099 449 118 9,284 (208) (145) (24) (377) 2010 12 31 13,510 3,876 11,548 1,128 266 30,328 4,473 1,597 4,803 717 255 11,845 (220) (15) (235) 2011 12 31 17,983 5,473 16,351 1,625 506 41,938 2009 12 31 46,621 22,776 11,225 1,029 380 24,148 106,179 2010 12 31 58,171 36,574 20,543 1,567 332 9,679 126,866 2011 12 31 58,104 36,972 18,042 1,840 763 26,720 142,441 820 2030 510 45 35 I-26

15. 12 31 2009 2010 2011 12,000 12,000 12,000 517 1,145 1,787 628 642 692 1,145 1,787 2,479 10,855 10,213 9,521 16. 2011 12 31 13 17. 50 12 31 2009 2010 2011 217 217 484 10,082 9,865 21,626 10,299 10,082 22,110 I-27

18. 2011 12 31 32,424,000 28,915,0002011 12 31 2011 12 31 632,000 2014 4 19. 12 31 2009 2010 2011 306 382 1,312 (743) (431) (3,526) 2009 1 1 (684) 232 (452) (59) 74 15 2009 12 31 (743) 306 (437) 312 76 388 2010 12 31 (431) 382 (49) (3,095) 851 79 (2,165) 2011 12 31 (3,526) 851 461 (2,214) 2008 1 1 10% 5% 5% I-28

20. 12 31 2009 2010 2011 3,049 5,376 7,045 3,593 4,195 458 19,367 6,168 5,179 44,430 39,524 26,009 60,169 52,206 (3,403) 26,009 60,169 48,803 2011 12 31 21. 12 31 2009 2010 2011 13,188 4,252 2,148 2,587 3,324 39 554 455 2,187 3,141 3,779 15,375 7,393 3,779 60 12 31 2009 2010 2011 0 30 8,771 4,207 31 60 3,510 61 90 90 907 45 13,188 4,252 I-29

12 31 2009 2010 2011 90 907 45 2009 12 312010 12 31 23 22. 12 31 2009 2010 2011 % % % 0.36~1.35 0.36~1.35 0.36~3.87 23. 12 31 2009 2010 2011 25,665 18,340 8,591 2,159 10,014 19,335 8,915 8,312 10,763 671 2,389 1,424 11,745 20,715 31,522 37,410 39,055 40,113 90 12 31 2009 2010 2011 0 30 6,966 7,416 5,859 31 60 4,408 4,239 1,999 61 90 3,128 3,640 233 90 180 10,525 2,424 209 180 638 621 291 25,665 18,340 8,591 I-30

24. (a) 12 31 2009 2010 2011 175 175 2011 12 31 2009 12 312010 12 312011 12 31 175,000 (b) 12 31 2009 2010 2011 4,578 4,578 216 (c) 12 31 2009 2010 2011 i 82,945 86,089 6,479 ii 578 1,351 818 83,523 87,440 7,297 (i) 2009 12 31 2010 12 312011 12 314,240,000 9,904,000 5,944,000 2011 12 22 86,890,00070,635,000 86,890,000 1.00 86,890,00070,635,000 (ii) I-31

25. 12 31 2009 2010 2011 879 6,008 2011 12 31 26. 12 31 2009 2010 2011 48,000 54,000 45,000 9,000 9,000 9,000 9,000 9,000 9,000 27,000 27,000 27,000 3,000 9,000 48,000 54,000 45,000 9,000 9,000 9,000 39,000 45,000 36,000 12 31 2009 2010 2011 % % % 5.76 6.34 5.94 6.34 5.94 7.10 27. 200920102011 12 31 2009 2010 2011 2,593 5,166 2,593 2,616 12,450 (43) (450) 2,593 5,166 17,166 I-32

28. 12 31 2009 2010 2011 327 625 928 298 303 317 625 928 1,245 29. 2009 1 12009 12 312010 12 31 2011 12 31 0.10 2011 5 13 2011 12 31 3,900 390 50 5 (50) (5) 2011 12 31 2011 5 13 67% 33,50033% 16,500 Victor Soar Investments Limited 2011 12 31 I-33

30. 12 31 2009 2010 2011 10,855 10,213 9,521 31. 12 31 2009 2010 2011 3,225 13,629 10,893 32. 12 31 2009 2010 2011 174 102 276 33. 5% 12% 20% 38,000 132,000 1,204,000 2009 12 312010 12 312011 12 31 2009 12 312010 12 312011 12 31 I-34

34. (a) 12 31 2009 2010 2011 3,758 833 2011 3 31 13% 20,523,000 2009 9 8 78,000,000 2011 7 28 (b) 24 (c) 12 31 2009 2010 2011 258 962 1,851 12 258 962 1,863 I-35

35. (a) 12 31 2009 2010 2011 19,869 35,507 39,431 162,645 170,366 61,104 (b) (i) I-36

12 31 2009 2010 2011 147 158 981 12 31 2009 2010 2011 76,777 74,256 304 5% 5% 5% 5% 5% 12 31 2009 2010 2011 3,264 3,265 (31) (ii) 22 26 I-37

50 50 50 50 12 31 2009 2010 2011 (149) (151) (135) 2009 12 312010 12 3127% 37% 2009 12 312010 12 31 91,799,000 61,113,000 24(c) I-38

2009 12 31 % 3 3 1 1 5 5 25,665 25,665 25,665 4,578 4,578 4,578 83,523 83,523 83,523 879 879 879 6.25 11,952 42,226 3,183 57,361 48,000 2010 12 31 114,645 11,952 42,226 3,183 172,006 162,645 18,340 18,340 18,340 4,578 4,578 4,578 87,440 87,440 87,440 6,008 6,008 6,008 6.09 12,390 44,022 9,600 66,012 54,000 2011 12 31 116,366 12,390 44,022 9,600 182,378 170,366 8,591 8,591 8,591 216 216 216 7,297 7,297 7,297 6.67 11,828 41,794 53,622 45,000 16,104 11,828 41,794 69,726 61,104 (c) I-39

B. C. (1) 2012 2 21 201143,667,000 5,240,000 (2) 2012 3 3 12%207,872,000 (i) (ii) 6,000,000 126,000,000 (iii) 1220,000,000 (iv) 12 42,468,000 2012 4 23 2012 4 27 154 154 (3) 2012 4 18 2012 6 21 2,000,000 40 1,618,00032,400,000 648 (4) 2012 6 12 A. 3. I-40

D. 2011 12 31 2012 6 28 I-41

2011 12 31 429 2011 12 31 2011 12 31 (A) 2011 12 31 2011 12 31 1 2 3 4 3 1.75....... 143,387 182,214 325,601 0.54 0.67 2.10....... 143,387 223,038 366,425 0.61 0.75 II-1

(B) 2012 6 28 II-1 II-2 4297 429(7) 300 II-3

429(1) 2011 12 31 a) b) c) 429(1) 2012 6 28 II-4

2012 3 31 1 16 2012 3 31 III-1

5 1216 2005 III-2

144-151 30 1 MSc., M.H.K.I.S., M.R.I.C.S 2012 6 28 24 III-3

2012 3 31 2012 3 31 (%) 1. 1,000,000 88% 880,000 2. 14,000,000 88% 12,320,000 3. 9,000,000 88% 7,920,000 4. 45,000,000 88% 39,600,000 69,000,000 60,720,000 III-4

2012 3 31 2012 3 31 (%) 5. 24,000,000 88% 21,120,000 24,000,000 21,120,000 6. 88% 7. 88% 8. 88% III-5

2012 3 31 2012 3 31 (%) 9. 144-151 30 1 88% 93,000,000 81,840,000 III-6

2012 3 31 1. 175.39 6,827.40 1,000,000 88% 880,000 2007 2056 6 30 1. 2011 6 17(2011) 557 6,827.40 2056 6 30 2. 2010 7 1 0030461175.39 3. 2011 3 31 360924210000234(1-1) 101,800,0002003 11 262053 10 16 4. 2012 3 3188% 5. (i) (ii) 6. III-7

2012 3 31 2. 105,303.10 14,000,000 88% 12,320,000 20062010 2056 6 30 1. 2011 6 17(2011) 558 105,303.10 2056 6 30 2. 2011 3 31 360924210000234(1-1) 101,800,0002003 11 262053 10 16 3. 2012 3 3188% 4. (i) (ii) 2011 12 31 5. III-8

2012 3 31 3. 18,776.70 9,000,000 88% 7,920,000 4,784.79 125 2006 2010 2056 6 30 1. 2011 6 17(2011) 559 18,776.70 2056 6 30 2. 2010 7 1 12 4,784.79 00032098 3,574.63 00032101 248.58 0030449 47.31 0030450 77.55 0030451 54.06 0030452 19.06 0030453 87.65 0030456 33.16 0030457 333.06 0030458 64.43 0030459 69.95 0030460 175.35 4,784.79 3. 2011 3 31 360924210000234(1-1) 101,800,0002003 11 262053 10 16 III-9

4. 2012 3 3188% 5. (i) (ii) 6. III-10

2012 3 31 4. 57,003.60 45,000,000 88% 39,600,000 13,939.81 423 2007 2011 2056 6 30 1. 2011 6 17(2011) 560 57,003.60 2056 6 30 2. 2010 7 1 42 13,939.81 00032099 873.00 00032100 356.37 0030431 176.84 0030432 107.18 0030433 310.39 0030434 117.35 0030435 115.82 0030436 1,309.80 0030437 41.79 0030438 805.12 0030439 21.50 0030440 31.55 0030441 77.80 0030442 733.73 0030443 733.73 0030444 641.49 0030445 22.50 0030446 92.93 0030447 470.16 0030448 362.43 0030462 313.77 III-11

0030463 126.05 0030464 96.17 0030465 86.57 0030466 44.04 0030467 20.28 0030468 89.28 0030469 1,821.60 0030470 164.42 0030471 77.54 0030472 48.00 0030473 37.60 0030474 27.84 0030475 44.03 0030476 196.56 0030477 313.87 0030478 1,709.19 0030479 667.08 0030480 271.64 0030481 72.68 0030482 82.57 0030483 227.55 13,939.81 3. 2011 3 31 360924210000234 (1-1) 101,800,0002003 11 262053 10 16 4. 2012 3 3188% 5. (i) (ii) 6. III-12

2012 3 31 5. 18,185.50 2012 24,000,000 88% 21,120,000 18,416 11 2056 6 30 1. 2011 6 17(2011) 556 18,185.50 2056 6 30 2. 2010 3 18005 18,41611 3. 2011 3 31 360924210000234(1-1) 101,800,0002003 11 262053 10 16 4. 2012 3 3188% 5. (i) (ii) 6. III-13

2012 3 31 6. 222,666.67 334 2012 3 2031 12 50 7. 19,830.67 29.746 2012 3 2031 12 50 8. 800.00 1.2 2012 3 2032 3 50 III-14

2012 3 31 9. 144-151 30 1 198341 30 1,186 2011 9 1 2013 8 31 17,900 III-15

2012 1 302011 1986 3 191986 10 1 1996 8 291994 3 26 1998 2 12241 241 30 2000 11 1 2006 1 24 IV-1

2006 9 8 (a) (b) (c) 75 75 1989 12 26 IV-2

1998 11 29 2003 9 1 1984 11 1 1996 5 15 2008 2 28 2000 9 1 IV-3

1996 4 1 2005 4 1 1997 3 1 2009 3 22009 5 1(i) (ii) (iii) 2002 11 1 2009 8 27 1992 11 71996 10 30 1993 5 1 1996 10 30 2009 8 27 (i) (ii) (iii) IV-4

2004 1 13 2004 5 172009 4 302009 6 8 (i) (ii) (iii) (iv) 2008 1 1 25% 1993 12 252011 9 30 2011 11 1 2007 8 110 20 1994 2 271994 4 1 1997 7 3 = * * 2008 10 1 = * * * * IV-5

2012 2 14 510 1986 6 251987 1 1 2004 8 28 2011 3 3 2002 5 1 2011 12 31 (i) (ii)(iii) IV-6

(i) (ii) (iii) (iv) (v) 1994 7 51995 1 1 2009 8 272007 6 292008 1 1 1999 1 22 1999 3 19 2003 4 272004 1 1 2010 12 201994 12 141995 1 1 1999 4 32002 3 24 5% IV-7

1979 7 8 1990 4 42001 3 15 1983 9 20 1986 1 15 1987 12 212001 7 22 1996 1 291996 4 12008 8 5 1996 6 20 IV-8

1911 999 1500 80202 3030-620-0020 303-620-0024 www.dolbear.com 2010 42011 12012 1 1995 2005 VALMIN 2004 12 JORC V-1

2011 12 31 181 27 2012 6 28 V-2

1.0.......................................................... V-7 2.0.............................................. V-10 3.0..................................................... V-11 4.0..................................................... V-11 4.1......................................... V-11 4.2............................................... V-12 4.3............................................... V-13 4.4.................................................... V-13 5.0.................................................. V-15 5.1.................................................... V-15 5.1.1............................................ V-15 5.1.2............................... V-16 5.1.3.................................. V-20 5.2............................................... V-24 5.2.1............................. V-24 5.2.2..................................... V-25 5.2.3................................. V-26 5.2.4................................... V-27 5.2.5........................................ V-27 6.0.......................................... V-27 6.1.............................. V-27 6.2.............................. V-29 6.2.1.................................. V-29 V-3

6.2.2............................... V-30 6.2.3........................................ V-31 6.2.4.............................................. V-31 6.2.5................................................ V-32 6.3............................................. V-32 6.4............................................. V-34 6.5............................................. V-36 6.6............................................. V-36 7.0...................................... V-37 8.0......................................................... V-37 8.1............................................. V-38 8.2........................................... V-39 8.2.1............................................ V-39 8.2.2............................................ V-39 8.3............................................. V-41 8.4............................................. V-43 9.0..................................................... V-44 9.1................................................. V-44 9.1.1.......................................... V-44 9.1.2............................................ V-46 9.2............................................. V-50 9.2.1...................................... V-51 9.2.2...................................... V-52 9.3............................................... V-53 V-4

10.0......................................................... V-54 11.0..................................................... V-57 12.0..................................................... V-61 13.0................................................ V-62 13.1................................................. V-62 13.2................................................. V-65 14.0................................................ V-65 15.0..................................................... V-65 5.1..................... V-25 6.1............................. V-30 6.2 2011 12 31........................ V-33 6.3 2011 12 31............. V-35 6.4 2011 12 31.......................... V-36 8.1 20092014......... V-38 9.1....................... V-45 9.2....................... V-46 9.3....................... V-47 9.4.................................. V-48 9.5................................ V-48 9.6........................... V-49 V-5

9.7.................................. V-50 10.1 20092014.......... V-54 10.2 20092014........ V-56 10.3 20092014............... V-56 11.1 20092014............... V-58 11.2.............. V-60 12.1 20062013............... V-61 13.1.......................................... V-64 1.1............................................... V-7 5.1............................... V-19 5.2 4............................... V-22 5.3 9............................... V-23 5.4 13.............................. V-24 6.1........................... V-28 9.1............................. V-51 9.2............................. V-51 9.3.................................... V-53 V-6

1.0 100% 1.1100% 1.1 2003 2006 200,000 2007 1 2007 8 2011 12 31 300,000 400,000 2011 356,340 118,470 1.28% 154,020 0.52% 35.5% 83,850 0.57% 0.55%3.63%11,066 20.97% 2,321 77,88961.97% 48,268 5,746 47.23% 2,71464,254 38.9% V-7

2013 600,000 2014600,000 150,000 0.76%300,000 0.31% 37.7% 150,000 0.16%0.87%4.59% 9,140 19.9%1,800123,900 63.0%78,1002,120 40.0% 85011,700 50.0%5,850 68,900 41.5% 27 SME 2004 JORC(Competent Person) 43-101 (Qualified Person) 2010 6 30 V-8

Peter Ingham Ingham 30 Ingham Vuko Lepetic Lepetic 30 Lepetic Janet Epps Macquarie University 30 Epps (IFC) MIGA Epps Michael Martin( Kings College) Martin 30 Martin 19 Martin SME V-9

2010 4 14 7 Martin 2011 1 161 182012 1 81 10 2009 2011 20122014 2011 12 31 6.301.00 2.0 1911 Behre Dolbear Group Inc. V-10

2004 50 2006 2011 3.0 4.0 4.1 37 331.1 115 06'54'' 115 08'14''28 27'23'' 28 28'15'' 1,935280,000 S318 S318G320 V-11

S318 G320 99 45 59 35 35 300 400 450 0.6 1.5 23 65% 4.2 52 40 17 7 401 81,600 1,400 V-12

4.3 30 3.7692 4-50002.2 1.6 C36000020110132201039322012 4 20 2032 4 20 600,000 300,000 5.000.797.001.11 10.001.59 2% 17% 5% 5%25%2010 12 10.6391 1.692011 1,595,90014625,8002026 282,000 4.4 1959 905 V-13

1966902 902 1970902 902 19751978 1983 11 1986 41992 12 1993 12 171 77,72343 2,603 50 100250 353 30' 00 619 25100 50 400 2002 10 10 17-200 100,000 2005 10-500 2006 599,000 20032006 200,000 2007 1 2007 8 2008 2011 12 31 300,000 400,000 319 288 3131 5 7 13-65-105-145-185 V-14

-225-270 20602090 JGMREDCL 2008 6 2009 7 JGMREDCL2010 1 300,000 400,000 600,000 2009 7 JGMREDCL2010 1 263 11390 236 2013 516 5.0 5.1 5.1.1 (Pt 2 Sh) (C 2 h C 2 c) (P 1 q) (P 2 ch) (K 2 n) (T 3 a) (Q) V-15

17 1.8 117 Ma 5.1.2 98% 300400 400 V-16

20 300 15 40 32 65 2.2 0.851.8 85 V-17

3520200 25 401 300 528 0.16 4 300 100 100 V-18

5.1 5.1 V-19

5.1.3 5020 95% II-1 I-2 V-20

II II-3 III 4 III-4 III-5 III-6 III-7 IV III IV-8 II-3 75%III-7 8% II-3 10511,500 340 64 10.50.16105.14 517 II-3 15 68 II-34-700 II-30.2% 1.4% 0.67% 11.43% 117% 0.5% 3.0% 1.36% 32.38%192%0.8% 6.0% 3.67% 24.93%95% 20% 45%34.97%59.45% 31% III-7 100250 313 11.570.4758.28 40 60-128-570 V-21

III-70.2% 1.4% 0.63% 1.87%66% 20% 45%31.42%52.04% 30% II-3 II-3 III-7 5.25.35.44913 5.2 4 5.1 V-22

5.3 9 5.1 V-23

5.4 13 5.1 5.2 5.2.1 5.1 V-24