Capital Structure

Shares

Original	2,000,000	1.16%
Acquisition of SHM	22,000,000	12.73%
Exercised options	250,000	0.14%
Private Placement	10,915,687	6.31%
Second Placement	7,670,000	4.44%
Third Placement	15,000,000	8.68%
Purchase of SAM and PAM	10,000,000	5.78%
Australian listing	32,000,000	18.51%
Converted warrants	4,335,000	2.51%
Private Placement	47,620,100	27.54%
Centralian transaction	1,301,700	0.75%
Private Placement - Lundin	19,800,000	11.45%
Total Shares on Issue	172,892,487	100.00%

Escrowed Securities

nil

Options and Warrants

Management Options	4,200,000	Expire 31 Dec 2014. Exercise price $A0.21
Management Options	4,350,000	Expire 30 Jun 2013. Exercise price $A0.54
Total Options and Warrants	8,550,000