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ASX Small to Mid Caps Sofitel Hotel, New York 4 March 2010 A unique opportunity to hear the latest business strategies and outlooks from a selection of emerging market leaders in the small and mid cap segment of the Australian market. Supported by Media supporters MADISONWILLIAMS AND COMPANY
Transcript of ASX Small to Mid Caps9:05 am Navitas Limited 9:30 am Industrea Limited 9:55 am Medusa Mining Limited...
ASX Small to Mid Caps
Sofitel Hotel, New York4 March 2010A unique opportunity to hear the latest business strategies and outlooks
from a selection of emerging market leaders in the small and mid cap
segment of the Australian market.
Supported by
Media supporters
MADISONWILLIAMSAND COMPANY
Welcome
Welcome to ‘ASX Small to Mid Caps’, an event that aims to showcase some of Australia’s leading
small and mid cap companies and at the same time provide a valuable snapshot of the significant
opportunity for investment in the Australian Equity Market.
This event is the sixth in the global series and the third of its kind in New York. The development of the
global series will continue into 2010, with the hosting of the first Singapore event in May.
ASX Small to Mid Caps is brought about by the co-operation of the Australian Securities Exchange,
the broker community in New York and the listed companies involved, all of whom are strong believers
in the considerable investment fundamentals of the Australian market.
The support from the broker and investment banking community in New York has continued with
major international brokers, investment banks and other organizations offering their support to the
event, and extending invitations to their respective clients.
The companies involved in the event, with capitalizations generally below A$1 billion, represent
an important sector of the Australian market that does not always get the international exposure it
deserves. Importantly, from the US investor perspective it will be an opportunity to meet a broad
representation of companies from a variety of sectors in one single event.
A clear take-out from the day will be the excellent exposure investment in the Australian Equity Market
provides to the ongoing and projected growth of emerging economies in the Asia-Pacific region –
exposure which is importantly provided within a stable and reputable market environment.
We would like to thank all of our event supporters and our participating ASX listed companies in
helping to make this event such a great success and we look forward to seeing you again in 2011.
Robert Elstone
Managing Director and CEO
Australian Securities Exchange
Thursday March 4 2010
8:30 am Registration and breakfast
9:00 am Welcome Address – ASX
9:05 am Navitas Limited
9:30 am Industrea Limited
9:55 am Medusa Mining Limited
10:20 am Gindalbie Metals Limited
10:45 am Morning break
11:05 am Sandfire Resources NL
11:30 am Emeco Holdings Limited
11:55 am Beach Energy Limited
12:20 pm Lynas Corporation Limited
12:45 pm Lunch in Le Grand Paris Ballroom
1:45 pm Hillgrove Resources Limited
2:10 pm Citadel Resource Group Ltd
2:35 pm Eastern Star Gas Limited
3:00 pm Murchison Metals Limited
3:25 pm Afternoon break
3:45 pm Atlas Iron Limited
4:10 pm Kingsgate Consolidated Limited
4:35 pm Linc Energy Ltd
5:00 pm Close of conference
5:00 pm – 6:00 pm Drinks reception
8:00 am – 5:00 pm One-on-One meetings
Agenda
Venue details
Sofitel Hotel
45 West 44th Street
New York, USA 10036
t +1 212 354 8844
f +1 212 354 2480
The welcome address and presentations by the ASX listed
companies are being held in Montmartre (level 2) of the
Sofitel Hotel.
One-on-one meetings
One-on-one meetings between Investors and ASX listed
companies are being held in Orleans, St Germain, Odeon,
Trocadero, Madeleine (level 2) and Bastille and Concorde
(level 4). For each meeting scheduled you will be informed
of the room name via our online booking agenda. To book or
make changes to any one-on-one meetings, please report to
Karen Payne at the ‘One-on-one Concierge Desk’ on level 2.
Karen will check availability and schedule a meeting for you.
Name badges
You should have been issued with a name badge on
registration. If you have not received one, please report
to the Registration Desk.
Access to company presentations
and videos post-event
Company presentations and videos will be made
available following the conference at:
www.asx.com.au/smalltomidcaps/newyork
ASX contact details
Sara LewisEvent Manager, ASX
+61 439 419 033 or [email protected]
David MitchellRegional Manager, North America, ASX
+1 312 607 1073 or [email protected]
Eddie GrieveManager Listings, Business Development, ASX
+61 418 246 698 or [email protected]
General Information
All content is provided by the conference supporters and listed companies; ASX takes no responsibility for the information included.
9:05 AM – NAVITAS LIMITED Rod JonesChief Executive Officer
Mr Jones is the Managing
Director, and Executive Board
Member of Navitas Limited,
the largest listed entity in the
education sector in Australia.
Mr Jones has 30 years
experience in educational administration and has held
a number of senior administrative positions within the
Government and the private education sectors. His
background covers both secondary and university
education including being Deputy Director of the Tertiary
Institutions Service Centre and the Secondary Education
Authority in Western Australia.
Mr Jones has been involved in international education
since 1987 and is recognized as one of the leaders in
the successful establishment of the sector in Australia.
He is one of the co-founders of Navitas and has been
instrumental in the expansion and development of Navitas
colleges into most major cities in Australia as well as a
number of locations overseas including UK, Canada, Sri
Lanka, Singapore and Africa.
In 2007 Mr Jones received a Doctor of Education (honoris
causa) awarded by Edith Cowan University in recognition
of his outstanding contribution to the development of the
international education sector both in Australia and overseas
and was the 2008 Australian Ernst and Young Entrepreneur
of the Year.
Level 2, Kirin Centre, 15 Ogilvie Road, Mount Pleasant
Western Australia, 6153
t +61 8 9314 9600
w www.navitas.com
9:30 AM – INDUSTREA LIMITED Robin LevisonManaging Director and Chief Executive Officer
Mr Levison was appointed
Chief Executive Officer of
Industrea Limited in August
2004 and elected to the position
of Managing Director on 30
November 2005.
Mr Levison has significant experience in Public Company
management; having previously occupied the role of
Managing Director at Spectrum Resources Limited, a
New Zealand Stock Exchange listed Technology Investment
Company.
He has also held senior roles with KPMG and was a
Director of Merrill Lynch New Zealand.
Mr Levison is a Chartered Accountant, a Graduate of
Australian Institute of Company Directors, a Graduate of
New Zealand Institute of Company Directors, and also
holds a Graduate Certificate in Management (UQ) and a
Diploma of Business Administration (UQ).
PO Box 567, Sumner Park
Queensland, Australia, 4074
t +61 7 3725 5400
w www.industrea.com.au
Presenter Biographies
9:55 AM – MEDUSA MINING LIMITED Geoff DavisManaging Director
Mr Geoff Davis is a geologist
who worked initially with BHP for
10 years following his graduation
in 1972, before becoming a
consultant in 1980 to numerous
mining and exploration
companies in Australia, Asia and
South America. This work specialized in epithermal precious
metal and porphyry copper-gold opportunities, and included
project acquisition, assessment and exploration.
He has held positions in a number of listed and unlisted
Australian, Asian and London based exploration and mining
companies. Mr Davis first started work in the Philippines
in 1980. He now has over 29 years of experience in the
Philippines during which he has developed relationships
which are valuable for developing the Company’s business
interests in the Philippines. Mr Davis has been Managing
Director of Medusa since its inception on 5 February 2002.
PO Box 860, Canning Bridge
Western Australia, 6153
t +61 8 9367 0601
w www.medusamining.com.au
10:20 AM – GINDALBIE METALS LIMITED Garret DixonChief Executive Officer and Managing Director
Garret Dixon heads up a strong
management team focused on
the development of the Karara
Iron Ore Project in Western
Australia as a substantial new
iron ore business.
Before joining Gindalbie, Mr Dixon was Managing Director
of logistics group, Mitchell Corp Australia Pty Ltd.
Mr Dixon is a civil engineer with more than 26 years
experience in mining, resources and infrastructure
development in Australia and overseas. He spent 18 years
with the Henry Walker Eltin (HWE) Group in several senior
project development and management roles in the Pilbara
iron ore industry, Indonesia and finally, as Executive General
Manager for HWE Mining, where he was responsible for all
HWE mining operations in Australia and New Zealand.
PO Box 7200, Cloisters Square, Perth
Western Australia, 6850
t +61 8 9480 8779 or +61 8 9480 8760
w www.gindalbie.com.au
Presenter Biographies
11:05 AM – SANDFIRE RESOURCES NL Karl SimichManaging Director
Mr Simich has had considerable
international business
experience in the management
and administration of publicly
listed companies, specializing in
resource finance and corporate
management.
Mr Simich was non-executive Chairman of Blue Capital
Limited, formerly Goldlink Incomeplus Limited, from March
2009 to October 2009, and was a non-executive director
of Indago Resources Limited. He was also the Chairman
of Resource and Investment NL from January 1999 to
June 2006, a director of Kimberley Diamond Company NL
from November 1993 to November 2007, a non-executive
director of Blina Diamonds NL from November 2002 to
December 2007, and a non-executive director of Marine
Produce Australia Limited from August 2002 to June 2006.
Mr Simich is a Fellow of the Institute of Chartered
Accountants and a Fellow of the Financial Services Institute
of Australasia and has completed post-graduate studies in
business and finance.
1 Ventnor Avenue, West Perth
Western Australia, 6005
t +61 8 9226 5833
w www.sandfire.com.au
11:30 AM – EMECO HOLDINGS LIMITEDKeith GordonChief Executive Officer
Keith Gordon was appointed as
Managing Director of Emeco on
1 December 2009.
Keith has had an extremely
impressive career in the
industrials sector with significant
senior leadership experience. He has a strong record of
achieving value and creating growth through innovation and
disciplined strategies.
Keith holds a Bachelor of Agricultural Science with Honours
and a Master of Business Administration from the University
of Western Australia.
His vision for Emeco is to build a quality business which will
generate strong returns for Emeco’s shareholders.
PO Box 1173, West Perth
Western Australia, 6872
t +61 8 9420 0222
w www.emecogroup.com
Presenter Biographies
11:55 AM – BEACH ENERGY LIMITEDSteve Masters, Manager – Commercial and Corporate Development
Steve Masters graduated
from Royal Melbourne
Institute of Technology with a
Bachelor of Applied Science
(Applied Geology) in 1992
and completed a Bachelor of
Science (Hons) in Petroleum
Geology and Geophysics at the University of Adelaide
in 1993. In 2001, he completed a Graduate Diploma in
Applied Finance and Investment with the Securities Institute
of Australia (now Finsia).
Steve joined Beach in early 2007 after approximately
ten years with Woodside Energy Ltd where he held a
variety of commercial roles associated with LNG, domestic
gas, offshore oil projects and mergers and acquisitions.
He has broad experience in the negotiation of upstream
petroleum agreements, oil and gas markets, domestic
and international acquisitions, divestments, and corporate
strategy.
25 Conyngham Street, Glenside
South Australia, 5065
t +61 8 8338 2833
w www.beachenergy.com.au
12:20 PM – LYNAS CORPORATION LIMITED Matthew James, Vice President, Corporate and Business Development
Dr Matthew James joined Lynas
Corporation in October 2002
and is Vice President Corporate
and Business Development.
He received a BE (Hons) degree
in Ceramic Engineering from the
University of New South Wales,
Australia and Ph.D. in Material Science and Engineering
from Queens’ College at the University of Cambridge.
Prior to joining Lynas, Dr James spent three years at
Deutsche Bank in London followed by four years in the
London office of McKinsey and Company, the management
consulting firm where he worked at the CEO and board
level of major companies helping them in major strategic,
organizational and operations issues.
Lynas owns the richest deposit of Rare Earths in the world
at Mount Weld, Western Australia. The Company’s strategy
is to create a reliable, fully integrated source of Rare Earths
supply from mine through to customers in the global
Rare Earths industry.
Level 7, 56 Pitt Street, Sydney
New South Wales, 2000
t +61 2 8259 7100
w www.lynascorp.com
Presenter Biographies
1:45 PM – HILLGROVE RESOURCES LIMITED David ArcherManaging Director
David has held executive and
non-executive roles in a number
of Australian and international
companies.
He founded Savage Resources
Limited in 1985. Savage’s
portfolio included the Ernest Henry copper gold mine in
North West Queensland, the Liddell coal mine in the Hunter
Valley in New South Wales and zinc mining and smelting
operations in the United States.
He founded and was executive Chairman of PowerTel
Limited until 1998.
Also, David is currently the Chairman of Crusader
Resources Limited and Managing Director of InterMet
Resources Limited.
He is a Barrister (non-practicing) of the Supreme Court of
New South Wales and a Fellow of the Australasian Institute
of Mining and Metallurgy.
Level 41, Australia Square, 264 George Street, Sydney
New South Wales, 2000
t +61 2 8221 0404
w www.hillgroveresources.com.au
2:10 PM – CITADEL RESOURCE GROUP LTD Inés ScotlandManaging Director and Chief Executive Officer
Inés is currently the Managing
Director and Chief Executive
Officer of Citadel Resource
Group listed on the Australian
Securities Exchange.
Inés has twenty years of
experience in the mining industry, the majority of which has
been working for Rio Tinto companies including Comalco,
Lihir and Kennecott Utah Copper.
Inés has been the Managing Director and Chief Executive
Officer of Citadel since December 2007 when the ASX
listed company acquired its Saudi Arabia copper and gold
projects.
Over the last 24 months, Citadel has raised over A$80
million in equity and increased the market capitalization from
A$25 million to over A$500 million. Under Ines’ leadership,
Citadel is developing the significant Jabal Sayid copper,
gold and silver project, and exploring several other base
and precious metals projects in the Middle East.
Level 12, 350 Collins Street, Melbourne
Victoria, 3000
t +61 3 8680 4601
w www.citadelrg.com.au
Presenter Biographies
2:35 PM – EASTERN STAR GAS LIMITED David CaseyManaging Director
David Casey has been
Managing Director of Eastern
Star Gas since November 2007.
He previously served as the
Company’s Executive Director
of Operations.
David has almost 20 years experience in the management
and evaluation of all aspects of coal seam gas exploration
and appraisal.
After graduating with Honours in Geology from the University
of Sydney in 1991, David joined specialist coal seam gas
company In Situ (Australia) Pty Ltd. In 1996, he formed
his own coal seam gas consultancy business, and then
founded Multiphase Technologies Pty Ltd, a provider of coal
seam testing services.
Immediately before joining Eastern Star, David spent four
and a half years as a Director of coal seam gas exploration
company Molopo Australia Ltd.
Since becoming Managing Director, David has overseen the
commencement of Eastern Star’s transition from explorer to
major gas producer, the Company’s entry into the ASX 200
and ESG’s move into the list of Australia’s 10 biggest oil and
gas companies.
Level 7, 51 Pitt Street, Sydney
New South Wales, 2000
t +61 2 9251 5599
w www.easternstar.com.au
3:00 PM – MURCHISON METALS LIMITED Trevor MatthewsManaging Director
Mr Matthews has a Bachelor
of Commerce degree from the
University of Western Australia
and a graduate diploma in
Applied Finance and Investment
from the Financial Services
Institute of Australasia. He is a
CPA and a member of the Financial Services Institute.
Mr Matthews has worked in the resources industry for
20 years and held executive positions with North Limited,
WMC Resources Limited and other listed entities in
both operational and corporate roles. He has significant
experience in corporate governance, project development
and finance.
PO Box 904, West Perth
Western Australia, 6872
t +61 8 9492 2600
w www.mml.net.au
Presenter Biographies
Presenter Biographies
3:45 PM – ATLAS IRON LIMITED Mark HancockChief Commercial Officer
Mark is a Chartered Accountant
who commenced his working life
in Public Practice in 1986. Since
moving into commerce in 1991
he has held senior financial roles
with leading companies such
as Lend Lease Corporation Ltd,
Premier Oil plc (including a four year secondment to its
South East Asian Operations) and Woodside Petroleum Ltd.
Mark joined Atlas in 2006, with responsibility for the
Company’s financial, commercial, iron ore marketing and
administrative activities. Since that time Mark has played a
key role in the growth of the company from a junior explorer
to an emerging producer.
PO Box 223, West Perth
Western Australia, 6872
t +61 8 9476 7900
w www.atlasiron.com.au
4:10 PM – KINGSGATE CONSOLIDATED LTD Gavin Thomas Managing Director and Chief Executive Officer
Gavin Thomas has had a
successful career discovering
ore bodies and developing
mining companies from the
exploration phase into mid-
tier gold or copper producers.
He has over 38 years of
international experience in exploring for, evaluating,
developing, operating and reclaiming mines in North and
South America, Australia, the Southwest Pacific, Asia and
Europe.
Previously he was Managing Director and CEO of Equatorial
Mining Ltd from 1998 to 2004 with the El Tesoro Copper
Mine in Chile. Prior to that he was an Executive Director of
Niugini Mining Ltd from 1985 where he led an aggressive
world wide exploration team that had offices in South
America, India, Europe, Malaysia and Thailand. He is
probably best known for being credited with discovering
the world’s largest gold mine outside of South Africa at Lihir
Island, becoming a founding Director of Lihir Gold Ltd.
Gavin has a degree in Geology from Macquarie University
in Sydney, is a Chartered Professional of the AusIMM and
a member of its Geoscience Taskforce.
Suite 801, Level 8, 14 Martin Place, Sydney
New South Wales, 2000
t +61 2 8256 4806 (via Assistant)
w www.kingsgate.com.au
Presenter Biographies
4:35 PM – LINC ENERGY LTD Peter BondChief Executive Officer and Managing Director
Mr Bond has a successful
track record in the coal and
gold mining industries, both in
Australia and overseas.
Building on his early engineering
background, he has gained a
unique knowledge and understanding of the coal mining
industry over the course of a diversified career spanning
more than 20 years.
His various companies are recognized in the mineral
processing industry for both innovation and efficiency.
Mr Bond has experience in the design, installation,
commissioning and operation of complex processing plants
and projects. Mr Bond’s business interests include mineral,
mining and associated operations in Australia and South
East Asia. Mr Bond was appointed to the Board in October
2004.
32 Edward Street, Brisbane
Queensland, 4000
t +61 7 3229 0800
w www.lincenergy.com.au
Atlas is an emerging, Australian iron ore producer which
commenced production and exports from its 100% owned
Pardoo DSO (Direct Shipping Ore) Project in late 2008.
Atlas is an active explorer and developer focused on the
discovery and development of high quality iron ore projects
within its extensive 15,000km2 Pilbara landholding, with
the principal projects located close to existing infrastructure
and within a 150km radius of Port Hedland.
With production underway at Pardoo at an initial
rate of 1Mtpa, the Wodgina DSO Project is expected to
deliver company-changing growth for Atlas in the medium
term. Atlas has an initial production target of 2Mtpa
for Wodgina with mining targeted to commence in the
second quarter of 2010, where Atlas has an agreement
in place to access the existing mine infrastructure of the
Wodgina Tantalum mine. Production will grow to 3Mtpa
by December 2010. Construction in preparation for the
commencement of mining at Wodgina is underway.
The development of the Abydos and Mt Webber
mining areas, with expanded export tonnages from
Pardoo and Wodgina will underpin Atlas’ objective of
increasing DSO production rate to 12Mtpa by 2012.
Operations• CurrentlyminingatPardooatanannualizedratein
excess of 1Mtpa growing to 2.5Mtpa
• WodginaMineconstructionunderwayforthe
commencement of mining (second quarter of 2010)
• ActivelyexploringsouthofPortHedlandatWodgina,
Mt Webber and Abydos
• ResourceandreservedefinitionongoingatWodgina,
Abydos and Mt Webber
• Explorationunderwayattherecentlyacquired
Newman Project area
Recent DevelopmentsAtlas has pursued an aggressive exploration campaign,
in spite of the GFC, which has delivered significant
increases in DSO resources. Furthermore, Atlas recently
completed a merger with the formerly ASX listed Warwick
Resources. With significant resource potential in the
Newman area, Atlas is active in exploration with a view to
growing its future production to 26Mtpa.
Contractual Arrangements100% of the DSO ore production from Pardoo is covered
by four separate off-take agreements with mid-sized
Chinese steel mills. 30% of the DSO ore production from
the Wodgina mine is covered by two separate off-take
arrangements with mid-sized Chinese steel mills. Off take
negotiations continue for the remaining Wodgina production.
Resources/Reserves estimatesPardoo DSO Project
Project Resource: 28.1Mt at 56.1% Fe
Project Reserve: 8.4Mt at 57.4% Fe
Wodgina DSO Project
Project Resource: 62.9Mt at 56.6% Fe (Wodgina
and Abydos)
Project Reserve: 28.4Mt at 57.8% Fe (Wodgina
and Abydos)
Mt Webber DSO Project
Drill results to date include: 42m at 60.9% Fe, 38m
at 61.4% Fe
Project Resource: 43.7Mt at 57.4% Fe
Ridley Magnetite Project
Project Resource: 2 billion tonnes at 36.5% Fe
Project Reserve: 970Mt at 36% Fe
Future Outlook• Furthergrowthinresourcesandreserves–
exploration target of 400-750Mt of DSO grading
57-60% Fe
• Low-costexpansionofPardooDSOProjectto2.5Mtpa
• TargetingfirstproductionatWodginaDSOProject
by the first quarter of 2010 at 2Mtpa growing to
3Mtpa later that year
• CompleteAbydosDefinitiveFeasibilityStudyand
3Mtpa permitting
• GrowproductionatAbydoslaterthisyear
• Maintainadynamic,safe,productiveandfamily
friendly workplace that continues to attract and
retain a high calibre workforce
• Createthelargestpositiveimpactonthelargest
number of people
• Deliverstrongpositiveandsustainableindigenous
outcomes
Atlas Iron Limited(ASX: AGO)
Beach Energy Limited is one of Australia’s top 10
ASX listed oil and gas exploration and production
companies.
Beach’s strategy is premised on delivering
consistent, targeted growth through value driven
investments. The Company seeks to maintain a
balanced portfolio that can deliver long-term cash flow,
production and reserves. Beach has a strong track
record of creating value, a reputation for thinking ahead
of the pack and is committed to future investments in
affordable low pollutant energy solutions.
Beach has:
• Provedandprobable(2P)reservesof66MMboe
and contingent resources of 293 MMboe
(at 30 June 2009)
• Forecastproductionfortheyearended30June
2010 of approximately 8 million barrels of oil
equivalent
Beach holds a global portfolio of more than 300
exploration and production tenements in Australia,
and other locations including Egypt, Tanzania
(application in progress), New Zealand, and Papua
New Guinea. Beach is constantly evaluating new
domestic and international opportunities.
OperationsBeach’s current production operations are located in
the Cooper / Eromanga Basins and the Gippsland
Basin. Beach owns both operated and non-operated
production assets. The Company has had good
success in developing and growing its operated
Cooper Basin oil production assets.
Recent DevelopmentsIn late 2009, Beach signed separate Memorandums
of Understanding with ATCO Power Australia Pty Ltd
and Rentech Incorporated in relation to the potential
commercialization of Beach’s shale gas acreage.
Contractual ArrangementsBeach has numerous contracts covering all aspects of
its business activities.
Resources/Reserves EstimatesBeach’s Proved and Probable recoverable reserves
as at 30 June 2009 were 66 million barrels of oil
equivalent (MMboe) and Contingent Resources were
293 million barrels of oil equivalent (MMboe).
Future OutlookBeach’s forecast production for the year ended 30
June 2010 is approximately 8 million barrels of oil
equivalent. Some near-term activities include:
• FirstoilfromEgyptinthethirdquarterof2010
• SixwellBeachoperatedoilexplorationprogramin
the Cooper Basin
• DrillingofHoldfast-1totestCooperBasinshale
gas potential
• Anticipatedcommencementofin-countryactivities
in Tanzania during 2010
Beach Energy Limited (ASX:BPT)
Citadel is listed on the Australian Securities Exchange
in the materials index and a member of the
ASX/S&P 300 Index. Citadel is a mine development
and exploration company focused on advanced
stage projects in Saudi Arabia. The flagship Jabal
Sayid copper and gold project is on track with the
completion of a Bankable Study in late 2009.
During 2010, Citadel will start construction on the
Jabal Sayid project with commissioning in late 2011.
The project will produce approximately 240,000
tonnes of copper concentrate per annum. The
concentrate is an exceptional quality with no penalties
and will be sold to smelters in the region including India
and Europe.
Due to the high grade and simple process
recovery, Jabal Sayid will be one of the lowest cost
of capital per tonne of copper producing projects
developed in recent times. The average life of mine
head grade through the concentrator will be 2.3%
copper with additional gold and silver credits. The
capital cost to develop the project is US$280million
and operating cost is US$0.94/lb produced and
US$0.97/lb payable.
Citadel and its Saudi company Bariq Mining are
committed to excellence in sustainable development
including developing local skills and industry.
Operations• JabalSayidneartermproduction:
first production late 2011
• Mining:2.6Mtperannum
• Producing:240,000tconcentrate
• Capitalcost:US$280million
• Operatingcost:US$0.97/lbpayable
Recent DevelopmentsJabal Sayid:
Completed Definitive Feasibility Study in December
2009
EPCM contract executed and construction
beginning
100Mt of 1.2% copper including 25Mt at 2.3%
copper
Resources/Reserves EstimatesJabal Sayid – 31Mt at 2.3% copper within the planned
mining area.
Future OutlookJabal Shayban:
Identification of new multiple ‘stacked’ high grade
gold zones that have considerably increased the
size of the Shayban deposit
Updated and expanded resource scheduled for
completion in mid 2010
Bari:
Discovery of porphyry gold and copper systems
40km from the town of Al Mahd and 80km from
Jabal Sayid
Diamond drilling program has commenced
Wadi Kamal:
Exploration program outlined. Electro-Magnetic
surveying has commenced
Citadel Resource Group(ASX: CGG)
Eastern Star Gas (ESG) is focused on exploration,
development and production of Coal Seam Gas
in Australia. The Company’s principal involvement
is the Narrabri Coal Seam Gas Project, centred on
Petroleum Exploration Licence (PEL) 238 adjacent to
the township of Narrabri in northern New South Wales,
Australia. ESG holds a 65% interest in and is Operator
of the project. Santos holds the remaining 35% project
interest.
PEL 238 and adjacent ESG operated permits,
cover 41,800 km2 (10.4 million acres) of the
Gunnedah Basin. Production testing is underway
at several locations, with recently developed lateral
production pilots delivering outstanding results. 2P gas
reserves of 1520 Petajoules (1441 BCF) and 3P gas
reserves of 2797 Petajoules (2651 BCF) have been
independently certified as at 31 December 2009.
Contingent Resources of 6,215PJ (5,890 BCF) were
independently certified in February 2010.
Further reserves upgrades are expected during
2010 on the basis of ongoing production pilot and
corehole drilling activity.
OperationsESG’s present key focus is the Narrabri Coal Seam
Gas Project. Along with the multilateral pilots, ESG
has continued its corehole appraisal program. The
corehole program complements pilot production
activities by demonstrating lateral continuity of thick,
permeable and gas saturated coals.
Recent DevelopmentsESG has installed gas pipeline infrastructure to allow
pilot production gas to be used at the Company’s
Wilga Park Power Station. The first stage of the power
station’s progressive upgrade was completed mid-
2009 with the commissioning of the first of up to ten
new 3MW generators.
Contractual ArrangementsESG is farming into exploration acreage (PELs 6, 427
and 428) covering 18,200 km2 (4.6 million acres) to
the north of the PEL 238 based Narrabri CSG project.
ESG has earned interests of 40% – 50% through
drilling of one corehole in each licence area plus
acquisition of 100 line km of seismic and is further
increasing its interest in PEL 6 from 50% to 75% by
drilling an additional corehole.
Resources/Reserves EstimatesThe overall gas in place potential of the PEL 238
acreage has been independently estimated by
Netherland Sewell & Associates to be around 17
trillion cubic feet. ESG is confident certified 2P and 3P
reserves will be upgraded during 2010.
Future OutlookAs a precursor to full scale development of the project
ESG has in place Memoranda of Understanding for
the supply of gas to Macquarie Generation (up to
500 PJ or 500 BCF) and Babcock & Brown (up to 40
PJ/a or 40 BCF/a). In addition, a Heads of Agreement
is in place for development of pipeline infrastructure
to connect into New South Wales’ existing gas
transmission system. Preliminary investigations into
high-yield export opportunities like LNG are also
underway and long lead development approval
processes have been commenced.
Eastern Star Gas Limited (ASX: ESG, OTCQX: ESGLY)
Emeco is a leading global provider of heavy
earthmoving equipment with offices in Australia,
Indonesia and North America. Emeco has integrated
rental, sales, parts, maintenance and procurement
into a single business for high reliability, low-houred
heavy earthmoving equipment for the mining and
civil construction sectors. Emeco is not aligned with
any earthmoving equipment manufacturer and has a
global fleet approaching 2,000 machines including
equipment manufactured by Caterpillar, Hitachi,
Komatsu, Liebherr and Volvo.
Emeco manages projects in some of the most
isolated and challenging areas in the world ranging
from the deserts in Australia to the icy landscapes of
Canada. The Company’s first class asset management
teams look after the maintenance of the equipment
leading up to and during each project, to ensure high
up-time of the machinery. Emeco’s team of specialists
work with clients to design optimal equipment solutions
to improve capital efficiencies and fleet availability.
OperationsEmeco is the leading independent supplier of heavy
earthmoving equipment solutions for mining and
construction industries across the globe, with offices in
Australia, Indonesia and North America. The Company
has extensive experience operating in some of the
most diversified landscapes around the globe, from
deserts of Australia, to jungles of Indonesia, to the
sub-zero temperatures of Canada.
Recent DevelopmentsEmeco have recently moved into the 240 tonne truck
super class. The investment in these trucks is yet
another factor which differentiates Emeco from its
small regional competitors and really cements the
Company as the leading independent supplier of
heavy earthmoving equipment around the globe.
Contractual Arrangements70% of revenue from blue chip customers including
Xstrata Coal, Barrick Gold, Rio Tinto Coal, Rio
Northparkes, Anglo Coal, Downer EDI, Newcrest,
Alcoa, Kagara, Newmont, Leightons, Xstrata Zinc
and Rio Tinto Iron Ore.
Future Outlook• Repositioningthefleetawayfromsmallcivil
equipment into large and very large mining
equipment
• Increaseexposuretolowcostproducers
of key commodities
• Buildscaleandcommoditydiversificationin
Canada
• Explorealternativemarkets
• Buildlong-termstrategicsupplyrelationships
with blue-chip customers
• Developlong-term,diversifiedfundingsources
Emeco Holdings Limited(ASX: EHL)
Gindalbie’s Karara Iron Ore Project is the most
advanced project development in the Mid West region
of Western Australia, with production scheduled
to start next year. Karara is being developed in
partnership with Anshan Iron and Steel Group
(Ansteel), China’s second-biggest steel maker. Karara
has all the key ingredients in place for a world-class
project – a quality long life resource, a life of mine
offtake arrangement, project funding solutions, short
and long term infrastructure solutions and substantial
growth opportunities. Karara hosts a multi-billion
tonne iron ore resource with the potential to produce
+30Mtpa for more than 30 years.
Recent DevelopmentsOn site construction development started at Karara in
November 2009 following final Government approval.
Site clearing has been completed and preliminary
earthworks are underway. The on site workforce
is expected to build to over 1,000 by mid-2010.
Progress on all previously-ordered long lead items,
including the primary crusher, secondary crushers,
high pressure grinding rolls, ball mills, fine grinding rolls
and power transformers, remain on schedule. Delivery
of these items has already commenced and will
continue until project commissioning. Approximately
$200 million has already been spent on contracts and
long lead items, with a further $400 million expected
to be committed in the next six months.
Resources/Reserves EstimatesKarara hosts a magnetite resource of 2.4 billion tonnes
grading 36% Fe, capable of producing approximately
1 billion tonnes of premium quality concentrate
(+68% Fe, low impurities).
Future Outlook2010 will be a year of rapid development with
construction of the Karara processing plant and
supporting project infrastructure in preparation for first
iron ore production in 2011.
Gindalbie Metals Limited(ASX: GBG)
Hillgrove Resources Limited is an Australian copper
miner listed on the Australian Securities Exchange
focused on developing the Kanmantoo Copper
Gold Mine for production in 2011, and conducting
advanced exploration in South Australia, Queensland
and Indonesia for base and precious metals. Hillgrove
has a strong balance sheet, no debt and cash
reserves of approximately A$130 million.
OperationsExploration and establishment of base camps, offices
and staff is progressing at both projects in Indonesia;
Birds Head in West Papua and on the island of
Sumba. Most recently though, a new exploration
license (IUP) was granted for the Sumba Project to
Hillgrove’s Indonesian partner, PT Fathi Resources
for a term of six years and permits the exploration
for metals, gold and other associated minerals in
an area of 99,970 hectares (999km2) falling across
East, Central and West Sumba districts on the island.
The IUP encompasses highly prospective ground
which has been shown to contain identified zones of
epithermal gold and base metal mineralization and
provides the green light to commence drill testing in
early 2010.
Hillgrove is exploring the 1,800 km2 in the Bird’s
Head Peninsular and is targeting the discovery of world
class orebodies. Recent exploration on the Project
has confirmed the presence of both disseminated and
vein-hosted copper/gold mineralization within altered
intrusive, along with assay values of low to medium
grade range, indicating porphyry style mineralization.
Drill testing is planned for 2010 under a $10 million
exploration program.
Recent DevelopmentsHillgrove recently reported that it had received approval
of its Mining and Rehabilitation Program (MARP) by
the Department of Primary Industries and Resources
of South Australia (PIRSA) for the development of the
Kanmantoo Copper/Gold Mine Project in South
Australia. Hillgrove is now progressing with financing
of the project with the aim of bringing the mine into
production in early 2011. Mining will be by open-cut at
an initial rate of 2.0MTPA to produce around 17,000
tonnes of copper in concentrate per annum.
The Company will shortly commence the process
of dismantling and transferring the Pillara Plant
from Western Australia to Kanmantoo, as well as
starting preparatory planning and design, following
which construction of the plant can proceed with
production slated for 2011. Hillgrove is well positioned
to be one of the few new emerging producers of
copper concentrate in Australia during the current
commodities upturn.
Resources/Reserves EstimatesHillgrove’s flagship development is the Kanmantoo
Copper Gold Project, located less than 60km from
Adelaide in South Australia. Kanmantoo currently
hosts a Mineral Resource of 32.2Mt (2.3Mt Measured,
22.5Mt Indicated and 7.4Mt Inferred) grading 0.9%
copper and 0.20g/t gold, containing 292,200 tonnes
of copper, 191,100 ounces of gold and 3,313,600
ounces of silver. With production targeted for the first
quarter of 2011, Kanmantoo will be a 2Mt per annum
open-cut mine producing approximately 17,000
tonnes of copper in concentrate and 8,000 ounces
of gold per annum.
Future OutlookThe Company’s principal goal is to become a billion
dollar mid-tier resources group specializing in copper
gold. Hillgrove will achieve this through further
exploration and mining and further resource definition
of its brownfield development (Kanmantoo, South
Australia); highly prospective advanced exploration
projects (Indonesia and North Queensland), and key
strategic investments in associated businesses.
Hillgrove Resources Limited(ASX: HGO)
Industrea Limited is headquartered in Queensland,
Australia comprising a group of companies involved
in the provision of mining products and services,
with diversified revenue streams arising from asset
management and engineering services.
The group’s products and services are sold on a
wide geographical footprint that includes USA, South
Africa, Russia, Indonesia and Papua New Guinea with
offices in five Australian locations, Santiago in Chile,
South America and Beijing in China. The customers
based in these areas include BHP, Anglo American,
Rio Tinto, BMA, Barrick, Xstrata, Vale and the major
Chinese mining clients including Jincheng, Shanxi
Coal and Shenhua Energy group.
Industrea is constantly expanding its range of
products and services to suit its client’s needs. The
Company also distributes a select range of OEM
mining products for Sandvik Voist Alpine (Scandinavia),
Tagor (Poland) and Pirtek (China). Additionally,
Industrea offers fully integrated outsourced contract
mining services through its Huddy’s Mining Services
subsidiary division.
Industrea’s continued expansion strategy is based
on the continued organic growth of existing business
units and further acquisitions that will be both profitable
and synergistic.
OperationsIndustrea operates a number of fully integrated
mining services contracts where it supplies planning,
supervision, equipment and staff, drill and blast and
other down stream ancillary services in Australia to
global mining companies such as Xstrata, Rio Tinto,
BHP Billiton and Barrick Gold.
Recent DevelopmentsThe Huddy’s mining services business in July 2009 won
a $30million per annum contract to provide integrated
whole of mine operations for Cockatoo Coal at its
Baralaba Coal Mine in the Bowen Basin near Mackay
in Queensland. This contract represents the continued
diversification of Industrea’s mine services offering.
Since the acquisition of the Huddy’s business in
February 2008, Industrea has diversified the business
to provide a range of services in the Bowen Basin and
to Rio Tinto at its Mt Thorley Warkworth coal mine in
the Hunter Valley. In addition the Company exported
more than $100 million of its ‘best of breed’ longwall
roof support carriers, methane gas drainage systems
and collision avoidance systems to China, South
America, South Africa and other markets since January
2009, and its confident of continuing its success in
2010 in line with the upturn in the global economy.
Contractual Arrangements• CockatooCoal • Xstrata–MtIsaMines
• BaralabaMine • RioTinto–MtThorleyWarkworth
Intellectual property/products/product development programsIndustrea holds significant intellectual property across
its suite of mining products and was recently awarded
a material Australian Federal Government Research
and Development grant for the further development of
its wider collision avoidance product offering.
Industrea was awarded for innovation for the
prestigious Mining Magazine Awards 2009, Longwall
roof support carriers won the category of Underground
Mining (Coal/soft rock) – Ancillary and Analysis.
Future OutlookIndustrea plans to continue to strengthen its brand
in order to market an integrated business model,
increasing the value of each existing customer, in each
global geography by targeting the supply of additional
products and services.
The Company also expects significant investment
in international expansion initially through established
supply/service relationships with multinational
‘Bluechip’ customers and leveraging off Industrea’s
leading position in both underground gas drainage and
open cut collision avoidance systems.
Industrea will further ongoing dialogue with
customers in order to facilitate the identification of
potential growth markets within the core business of
productivity and safety equipment and services.
Industrea Limited(ASX: IDL)
Kingsgate: a low cost, unhedged, mid-tier Thai gold
producer with organic growth in production and
exploration.
Production at Chatree in central Thailand was
~146,000 oz gold at US$307/ounce cash costs
(calendar year 2009). The planned expansion of
the processing plant can double throughput to 5
million tonnes/year in 2011. Chatree is a major gold
deposit with an expanding resource and reserve base
through an aggressive drilling program within its mining
leases. Potential satellite pits within trucking distance
have recently been identified, as well as new gold
discoveries within this developing world-class gold
province.
Recent Highlights:
• DecemberQuarterproduction:40,224ouncesat
US$312/ounce cash costs
• Firstfullyearofproductionfromnewminingleases,
with 7-10+ years mine life with expanded plant
• Plantexpansionfrom2.4to5milliontonnes/year
throughput. Decision anticipated soon
• Majorresource/reservedevelopmentprogram
underway extending open pits
• Newdiscovery,Suwan,potentiallyofChatreesize,
made within trucking distance of mine
• Chatreecontinuestobetheworld’ssafestgold
mine
• ThirdlargestgoldproduceronASXbymarket
capitalization, after Newcrest and Lihir
• BlackRockbecamelargestshareholderwith~10%
Operations• Chatree/ChatreeNorthGoldMine–280kmnorth
of Bangkok
• ExplorationpropertiesaroundChatree;Newgold
discoveries – Chokdee and Suwan
Recent Developments• Increasedgoldproductionatlowcosts–inlowest
20% of costs for global gold producers
• RatedthirdbestperformingstockonASX200
for last decade by Australian Financial Review on
Bloomberg data
Resources/Reserves Estimates• MineralResource:82Mtat1.2g/tfor3.1Mozgold.
(at Chatree)
• OreReserve:37Mtat1.2g/tfor1.5Mozgold.
(at Chatree)
Future Outlook• Increasinggoldproductionin2011afterfinal
announcement of decision on expansion of
processing plant
• Expandsizeofopenpitsandresource/reserve
base
Kingsgate Consolidated Limited(ASX: KCN, OTC: KSKGY)
Linc Energy is an innovative, forward-thinking company
developing a significant energy business based on the
production of cleaner energy solutions.
The Company has successfully combined
two known technologies, Underground Coal
Gasification (UCG) and Gas to Liquids (GTL) and has
demonstrated its vision of being a leading supplier of
a new source of cleaner liquid transport fuels for the
future. UCG technology provides access to coal, deep
underground and by in-situ gasification produces a
high quality synthesis gas (syngas) containing carbon
monoxide and hydrogen. Aboveground, in the GTL
process, syngas is processed via Fischer-Tropsch
technology to produce high quality, sulphur free
synthetic hydrocarbons. Linc Energy plans to combine
its UCG and GTL technologies commercially at sites
in Australia and around the globe as it realizes its vision
of becoming the world’s leader in providing cleaner
synthetic diesel and jet fuels from stranded coal
resources.
Recent Developments• OilshowsatMaglia-1intheArckaringaBasin
• StartupofUCGGenerator4andproductionof
syngas at Chinchilla, Queensland
• IncreaseintheCompany’sGalileetenementcoal
tonnage to 7.8 billion tonnes coal resource
(in accordance with JORC code)
• IncreaseintheCompany’scoalleadholdingsin
the USA to 173,327 acres held across Wyoming,
Montana and North Dakota
Contractual ArrangementsMemorandum of Understanding with BP Australia as its
first major customer to purchase a minimum of 14,000
bpd of ultra-clean diesel to be produced at Linc
Energy’s first production plant to be commissioned
in South Australia.
Future Outlook• ContinueexplorationprograminSouthAustralia
• ContinuethedevelopmentofLincEnergy’sfirst
commercial UCG operation in the Walloway Basin
(South Australia)
• ContinuetobuildonLincEnergy’sportfolioofcoal
resources
Linc Energy Ltd(ASX: LNC, OTCQX: LNCGY)
Lynas Corporation owns the richest known deposit of
Rare Earths, also known as Lanthanides, in the world
at Mount Weld, near Laverton in Western Australia.
This deposit underpins Lynas’ strategy to create a
reliable, fully integrated source of Rare Earths supply
from the mine through to customers in the global Rare
Earths industry. Lynas has received all environmental
approvals and commenced construction of a
Concentration Plant at Mount Weld and an Advanced
Materials Plant to process the Mount Weld concentrate
through to final Rare Earths oxides in the Gebeng
Industrial Estate, Kuantan, Pahang, Malaysia.
The Company plans to become the benchmark
for security of supply and a world leader in quality
and environmental responsibility to an international
customer base.
‘Rare Earths’ is the term given to fifteen metallic
elements known as the lanthanide series, plus yttrium.
They play a key role in green environmental products,
from energy efficient compact fluorescent light bulbs
(CFLs) to hybrid cars, automotive catalytic converters
and wind turbine generators. They are also essential
in the development and manufacturing of many
modern technological products, from hard disc drives
to flat panel displays, iPods and magnetic resonance
imaging (MRI) scans.
Recent Developments• Capitalraisingofapproximately$450million
fully funded to phase, through a 1-for-1 non-
renounceable pro-rata entitlement offer to Australian
and New Zealand shareholders as well as an
institutional placement all fully underwritten by
JP Morgan
• RecommencementoftheRareEarthsProjectwith
the engagement of United Group Limited (UGL) as
the Engineering Contractor for the remainder of the
Project, post quarter-end
• Signingofaformalsaleagreementtoacquireallof
the rights of CSBP Limited in relation to the mining
leases located at Mount Weld to facilitate the
potential development of the Crown Polymetallic
Resource
• TheSupplyContractsignedwithRhodiaforthe
supply of Mount Weld Rare Earths to be produced
by the Company’s subsidiary Lynas Malaysia
Sdn Bhd in its Advanced Material Plant has been
extended from a five year contract to a ten year
contract
• ATechnicalCooperationAgreementwith
Rhodia signed to support operational planning,
commissioning and ramp-up of the Advanced
Material
Contractual ArrangementsSix customer agreements have been signed to date.
Resources / Reserves EstimatesResource 12.24Mt at 9.7% REO at a 2.5% cut-off
grade REO.
Future OutlookKey objectives for 2010 include securing additional
off-take sales, completing construction of the
Concentration Plant and nearing completion of
construction Advanced Materials Plant, and developing
the operational organization within Lynas.
Lynas Corporation Limited(ASX: LYC)
Medusa Mining is an expanding gold producer
operating solely in the Philippines.
• Debtfreeandun-hedged,longtermcashcosts
circa US$190 per ounce
• Resources:
– Co-O Mine Indicated resources – 580,000
ounces
– Co-O Mine Inferred resources – 660,000 ounces
(Conceptual target size* of Co-O Mine of 3 to
7 million ounces)
– Bananghilig Deposit Inferred resources –
650,000 ounces
• Reservesof500,000ouncesat14.9g/tgold
at the Co-O Mine
• Phase2expansiontoincreaseproductionfrom
60,000 to 100,000 ounces annualized on target for
the first quarter of 2010
• Pipelineofprojectsforpotentialproduction
expansion to 300,000 to 400,000 ounces per year
• Excellentexplorationupside:highgradeveinand
disseminated bulk gold targets, plus six porphyry
copper targets
* The potential target size and grade is conceptual in nature
and there has been insufficient exploration to define a mineral
resource, and it is uncertain if further exploration will result in
the target being defined as a mineral resource.
OperationsCo-O is an underground narrow-vein mine using rail
and hand-held drilling and blasting methods. It is
currently 200 meters deep, with 5 levels at 50 meter
intervals, serviced by four main haulage shafts with
combined capacity of approximately 1,200 tpd.
A sixth level will be added in 2010.
Mill capacity up to 1,000 tpd from January 2010,
with 750 tpd to be processed for 100,000 ozs per year.
Recent Developments• Achieveddevelopmenttimetablestoproduce
100,000 ozs annualized from the first quarter of 2010
• Increasesinresourcesareexpectedtocontinue
Contractual ArrangementsCo-O Mine is on a granted Mineral Production Sharing
Agreement which is valid for 25 years (from early 2008)
renewable.
Resources/Reserves Estimates• Co-OMineResources:Indicated580,000ozsat
12.3 g/t gold; Inferred 660,000 ozs at 9.0 g/t gold
• Co-OMineReserves:Probable500,000ozsat
14.9 g/t gold
• BananghiligDepositResources:Inferred650,000
ozs at 1.3 g/t gold
Future Outlook• Achieveannualizedproductionof100,000ozs
in the first quarter of 2010
• Developprojectpipelinetoincreaseproduction
to 300-400,000 ozs per year
• Continueaggressiveexplorationwithannualbudget
circa US$18million per year
• Discoveryofnewgoldandporphyrycopper
deposits
Medusa Mining Limited(ASX: MML, AIM: MML, TSX: MLL)
MEDUSA
Murchison Metals Limited (Murchison) is an Australian
ASX listed company. Murchison is included in the
S&P/ASX 200 Index.
The Company is aiming to create shareholder
wealth through mining and exporting high quality iron
ore to world markets.
Murchison is a 50% shareholder in Crosslands
Resources Ltd (Crosslands) which is the owner of
the Jack Hills iron ore project located in the mid-west
region of Western Australia. The remaining 50% of
Crosslands is held by Mitsubishi Development Pty Ltd
(Mitsubishi), a subsidiary of Mitsubishi Corporation,
Japan’s largest general trading company.
In addition, Murchison has a 50% economic
interest in Oakajee Port and Rail (OPR). OPR has
the right to construct new port and rail infrastructure
to service miners (including Crosslands) and other
potential customers in the mid-west region of Western
Australia. The remaining 50% economic interest in
OPR is held by Mitsubishi.
Murchison has a strong, experienced and energetic
hands-on management team which will continue
to support both Crosslands and OPR to become,
respectively, a leading iron ore producer and a leading
infrastructure business.
Recent DevelopmentsMurchison has recently announced a tripling in the size
of the Jack Hills resource held by Crosslands, from
1.1 billion tonnes to 3 billion tonnes. The Company
has also recently provided a study update for the
expansion plans at Jack Hills, with Crosslands now
targeting to become a significant iron ore producer
on a global scale. A key feature of the study is the
modular approach to capacity design which will allow
for incremental expansion in line with market demand
over time.
Contractual ArrangementsSecure iron ore offtake agreements for Crosslands and
infrastructure access agreements with other potential
customers of OPR.
Resources/Reserves Estimates50% interest in Crosslands which has reported
resources of 3.0 billion tonnes at 31.7% Fe,
comprising:
• BeneficiatedFeedMaterial(BFO)of2.9bntat
30.6% Fe
• DirectShipMaterial(DSO)of110.5mtat56.9%Fe
• NearDSOmaterialof39.4mtat45%Fe
Future OutlookComplete bankable feasibility studies for each of the
Crosslands and OPR businesses.
Murchison Metals Limited(ASX: MMX)
Navitas is a diversified global education company
based in Australia. The Company has four divisions:
University Programs, English, Student Recruitment and
Workforce. The University Programs division generates
the majority of group revenue from the operation of
pathway colleges (pre-university colleges targeted
at international students) and managed campuses
(remote campuses operated on behalf of universities).
Operations• 24establishedpathwaycolleges(Australia,UK,
Canada, Sri Lanka, Kenya, Zambia)
• 3managedcampuses(Australia,Singapore)
• 18Englishlanguagecampuses(Australia)
• 2MigrantEnglishandrefugeeservicescontracts
(Australia)
• 36StudentRecruitmentoffices(China,India,UK)
• 11marketingsupportoffices(global)
• 4workforcetrainingoperations(Australia)
Recent DevelopmentsNavitas has recently entered the US higher education
market signing four agreements to operate pathway
colleges at three campuses of the University of
Massachusetts and also at Western Kentucky
University. Agreements have also been signed for two
new pathway colleges in Australia and the agreement
for the Company’s largest pathway college in Sydney
has been renewed. Two new UK pathway colleges
commenced operation in September 2009.
Contractual ArrangementsThe pathway colleges and managed campuses
operate under fixed term partner agreements with
universities – all agreements have been renewed on
expiry. The Migrant English services operate under
contract to the Australian Federal Government.
Intellectual Property/products/ product development programs• Englishlanguagecurricula
• UniversityFoundationprogramandpre-masters
curricula
• Workforcetrainingcurricula
Future OutlookNavitas plans continued growth through organic
growth of existing operations, new start up colleges
and selective acquisition. New pathway colleges
are expected in the US, Australia, Canada and the
UK. The Workforce training division has significant
scope for expansion in Australia. A number of recently
established colleges are in startup phase so will grow
strongly until they reach scale.
Navitas Limited(ASX: NVT)
Sandfire Resources NL is as an Australian minerals
exploration company that has made one of the most
exciting discoveries in Australia in recent years.
In May 2009, Sandfire announced a high-grade
copper-gold discovery at its 100%-owned Doolgunna
Project, located 900km north of Perth in Western
Australia. The discovery now encompasses three
zones of high-grade sulphide mineralization at the
DeGrussa, Conductor 1 and Conductor 4 prospects.
The stream of high-grade exploration results
released from Doolgunna during 2009 saw Sandfire
end the year as the best performing stock on ASX.
Sandfire also holds a pipeline of projects including
advanced manganese projects and a provincial-scale
base metal exploration opportunity at Borroloola in
the Northern Territory, a world-class lead-zinc-silver
exploration project at Sandfire near Broome in Western
Australia and a significant portfolio of diamond and
uranium prospects in the Northern Territory.
Recent Developments• AnnouncementofPhaseIJORCresourceestimate
for Doolgunna, comprising 7.13Mt at 5.2% copper,
1.9g/t gold and 15g/t silver for 372,000 tonnes of
copper, 439,000 ounces of gold and 3.4Moz of
silver
• 94%or6.7Mt,ofthePhaseIresourceisin
indicated category and available for conversion to
Ore Reserves
• ContinuedexcitingdrillresultsfromDoolgunna,
including intersections of:
– 40.8m at 13.7% Cu and 2 4g/t Au (DeGrussa)
– 37.1m at 9.4% Cu, 3.7g/t Au (Conductor 1)
• ScopingStudyunderway,includingregulatory
approvals, metallurgical test work and Mining Lease
Application – Pre-Feasibility Study to commence by
mid-2010
Contractual ArrangementsIn May 2008, Sandfire concluded a Strategic Alliance
with the leading Korean-based global steel group
POSCO after completing a 19.99% share placement
to that company.
The Strategic Alliance encompasses off-take
arrangements for up to 30% of the future mineral
production from Sandfire’s project portfolio (excluding
gold and diamonds).
The Company’s philosophy is to leverage its
expertise in project generation, exploration and
prospecting to deliver an outstanding new generation
of mining projects which can be developed in alliance
or joint venture with POSCO and other major end-
users of strategic commodities.
Resources/Reserves EstimatesDoolgunna Phase I Resource: 7.13Mt at 5.2% copper,
1.9g/t gold and 15g/t silver for 372,000 tonnes of
copper, 439,000 ounces of gold and 3.4Moz of silver.
Future OutlookFollowing the announcement of the Company’s
Phase I resource estimate for Doolgunna in February
2010, Sandfire’s focus is now on the delivery of a
Phase II estimate, which is scheduled for release in
the second quarter of 2010.
Sandfire has also initiated key activities as
part of a Scoping Study to assess potential mine
development options for DeGrussa and commenced
the project approvals process. The current Scoping
Study is expected to transition seamlessly into a
Pre-Feasibility Study commencing in mid- 2010,
which in turn will lead directly to a Definitive Feasibility
Study commencing in the second half of 2010. This
will provide a strong foundation for a potential mine
development process commencing in 2011.
Sandfire is also continuing with a substantial
exploration program at Doolgunna to drill test a
series of priority targets identified from airborne
electromagnetic surveys. Results will be announced
throughout the year, with the program aimed at
identifying repeats of the DeGrussa, Conductor 1 and
Conductor 4 deposits.
Sandfire Resource NL(ASX: SFR)
The Australasian Investor Relations Association (AIRA)
was established in 2001 to advance the awareness
of and best practice in investor relations in Australia
and New Zealand and thereby improve the relationship
between listed entities and the investment community. The
Association’s 120 corporate members now represent over
A$760 billion of market capitalization or over two thirds of
the total market capitalization of companies listed on ASX.
AIRA provides education and professional development
on investor relations for listed entities as well as providing
information, networking, advocacy and research for its
members.
Ian MathesonChief Executive Officer
AIRA
GPO Box 1365, Sydney
New South Wales, 2001, Australia
t +61 2 9872 9100
w www.aira.org.au
BNY Mellon acts as depositary for more than 2,100
American and global depositary receipt programs, acting
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With an unrivalled commitment to helping securities issuers
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the Company delivers the industry’s most comprehensive
suite of integrated depositary receipt, corporate trust and
stock transfer services.
BNY Mellon is a global financial services company focused
on helping clients manage and service their financial
assets, operating in 34 countries and serving more than
100 markets.
Violet PaganVice President, Depositary Receipts
Arlene VillarealVice President, Depositary Receipts
t +1 212 815 2276
w www.bnymellon.com/dr
Supporter Profiles
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Middle East: Mahmoud Salem+1 212 815 2248
Central Eastern Europe and Africa: Anthony Moro+1 212 815 5838
Latin America: Nuno da Silva+1 212 815 2233
For more information on Depositary Receipts, please contact:
Supporter Profiles
BBY is an Australian focused Stockbroking, Corporate
Advisory and Asset Management firm, with offices in
Australia, UK, UAE and a strong presence in the USA and
Asia. The Company’s goal is to achieve superior returns for
its clients. Whether you are looking for tradeable insights
on Australian equities, or efficient and reliable execution
and distribution services, BBY’s experienced global sales
team can assist you in achieving the returns you seek on
your portfolio.
BBY’s core ASX areas of specialization include:
Banking and Finance, Real Estate, Healthcare and Life
Sciences, Resources (Renewable Energy and Cleantech,
Oil and Gas, and Metals), Industrials, Telecommunications,
Media and Technology.
Whilst BBY is an independent Australian firm, the
Company also provide its clients with exposure to the
reach of their international partnerships with leading
Malaysian and Southeast Asian investment bank CIMB-GK
(www.cimb.com) and major US investment bank, Jefferies
Inc. (www.jefferies.com).
The BBY Institutional Broking, Research and Corporate
Finance teams are committed to providing clients
with outstanding service while maintaining the highest
standards of integrity.
Glenn RosewallChief Executive Officer and Managing Director
BBY
Level 17, 60 Margaret Street
Sydney, New South Wales, 2000, Australia
t +61 2 9226 0032
w www.bby.com.au
Citi, the leading global financial services company, has
some 200 million customer accounts and does business
in more than 100 countries, providing consumers,
corporations, governments and institutions with a broad
range of financial products and services, including
consumer banking and credit, corporate and investment
banking, securities brokerage, and wealth management.
Citi’s major brands include Citibank, CitiFinancial,
Primerica, Smith Barney and Banamex. Additional
information may be found at www.citigroup.com or
www.citi.com.
Leighton PatrickDirector, Head of Australia/New Zealand
Equity Sales
Citigroup Inc.
390 Greenwich Street, 3rd Floor
New York, NY 10013
t 212 723 4177
w www.citi.com
BBY’s global strength is represented via its presence in Sydney, Melbourne, London, Dubai, Singapore Hong Kong, New York & others.
For further information about BBY, please visit our website www.bby.com.au or contact Glenn Rosewall on +61 2 9226 0032.
BBY is an Australian focused Stockbroking,
Corporate Advisory and Asset Management
firm, with offices in Australia, UK, UAE & a
strong presence in the US & Asia.
i
BBY’s primary objective is to form long term partnerships and to provide capital markets solutions to medium and large sized Australian companies. BBY’s commitment to its client base is strongly supported by local and global distribution capability, independent research, experienced sales and corporate finance teams.
Since establishment in 1987 (formerly known as Burdett, Buckeridge Young), BBY has developed a reputation for providing focused, quality services and innovative solutions. BBY provides highly efficient execution for its clients with one of the largest execution teams in Australia. Whilst BBY is an independent Australian firm, we also provide our clients exposure to our international partners leading Malaysian and SE Asian investment bank CIMB-GK (www.cimb.com) and major US investment bank, Jefferies Inc. (www.jefferies.com).
BBY is proud to have backed the following companies from less than $200 million market cap through to their significant achievements in joining the $1 billion club and more, and on being among the best performers on the ASX.
Independent research is one of BBY’s competitive strengths and is based on in-depth work which integrates field analysis, due diligence and regular dialogue with companies.
Our core areas of specialisation include:
Resources: Renewable Energy & Cleantech, Oil and Gas, Gold, Steel, Iron Ore, Diversified Miners, Metals (incl. Copper, Nickel, Zinc, Lead, Manganese), Mineral Sands
Telecommunications, Media & Technology
Healthcare & Life Sciences
Industrials Equity Strategy - STEELscan - STOCKscan - PORTFOLIOscan - CREDITscan - RESOURCEscan Real Estate Banking & Finance
d s s s d BBY Brief: Morning and Afternoon reports
Equity Execution
Block Trades & Facilitation
Portfolio Trading
Direct Market Access
Derivatives
24 Hours Futures Execution
IPOs and Placements
Conferences: Agriculture, Cleantech & Energy (ACE), Resources, Dubai Australia Conference, Healthcare & Life Sciences and Telecommunications, Media & Technology (TMT), Financial Services and Rare Earth.
smarTrader: BBY’s state-of-the-art internet trading platform and tools for retail, high net worth and financial planners. With straightforward and out-
standing personal service on demand, smarTrader helps you take control of your trading.
London
Paris
ZurichHong Kong
Chicago
Los Angeles
Dubai
Melbourne
Sydney
Bermuda
New York
Singapore
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For more information on Citi’s Australian Equities business in North America, please call +1-212-723-4177
Citi is proud to sponsor the 2010 ASX Small to Mid Caps conference
and is dedicated to promoting Australian companies in North America.
CLSA Asia-Pacific Markets is Asia’s leading, independent
brokerage and investment group. The Company provides
investment-banking, capital markets, equity-broking and
asset-management services to global corporate and
institutional clients. Founded in 1986, CLSA is Asia’s
longest-running independent brokerage.
Recognized as one of Asia’s leading research, sales and
execution houses,
CLSA is known for its innovative and independent research
and is consistently ranked in major industry polls. CLSA
was ranked the No.1 broker in Asia for the past 19 years in
the Asiamoney No.1 Brokers Poll 1990-2008 (July 2009).
In Australia, CLSA established a branch office in Sydney
to provide a full-service agency broking business for
Australian equities, providing equity research, sales, sales
trading and dealing to international and domestic Australian
institutional investors. Australian sectors already under
coverage include banks, gaming, healthcare, energy,
consumer, metals and mining and telecoms. This will
shortly be expanded to include insurance, property and
utilities.
Chris BriceAustralian Equity Sales
CLSA
1301 Avenue of Americas, 15th floor
New York, NY, 10019
t +1 212 408 5916
w www.clsa.com
As one of the world’s leading banks, Credit Suisse
provides its clients with investment banking, private
banking and asset management services worldwide.
Credit Suisse offers advisory services, comprehensive
solutions and innovative products to companies,
institutional clients and high-net-worth private clients
globally, as well as retail clients in Switzerland.
Credit Suisse is active in over 50 countries and employs
approximately 47,000 people. Credit Suisse’s parent
company, Credit Suisse Group, is a leading global financial
services company headquartered in Zurich. Credit Suisse
Group’s registered shares (CSGN) are listed in Switzerland
and, in the form of American Depositary Shares (CS), in
New York.
Ian BuckleyDirector – Head of Australian Sales Desk
Credit Suisse
11 Madison Avenue
New York, NY, 10010
t +1 212 325 4963
w www.credit-suisse.com
Supporter Profiles
Australian sectors under coverage: Banks, Consumer, Energy, Gaming, Healthcare, Metals & Mining, Telecom, and Transport.
Coming Soon: Insurance, Property, and Utilities.
Fortbridge Consulting is a media and investor relations firm
representing publicly listed companies. Fortbridge work
with their clients to build corporate reputation and promote
value.
Fortbridge investor communications programs target a
range of stakeholders including shareholders, institutional
investors and funds and the financial media in the markets
in which their clients operate.
With access to up-to-date research and investor contact
information for financial centers around the world,
Fortbridge is able to research and maintain meaningful
sector specific investor lists for their clients. Using this
information, Fortbridge target relevant institutional investors
and funds to engage their support for their clients’ IPOs,
institutional placements, capital raisings, SPPs or on-
market trades.
Fortbridge consultants in Sydney, Perth, London, Toronto
and Santiago have a track-record in working with clients
to build shareholder value and to grow businesses; to
communicate the value of new developments and to
manage significant issues that impact reputation.
Bill KemmeryManaging Director
Fortbridge Consulting
Level 3, 63 William Street, East Sydney
New South Wales, 2010, Australia
t +61 2 9331 0655
w www.fortbridge.com
Macquarie Group (Macquarie) is a global provider of
banking, financial, advisory, investment and funds
management services. Macquarie’s main business focus is
making returns by providing a diversified range of services to
clients. Macquarie acts on behalf of institutional, corporate
and retail clients and counterparties around the world.
Macquarie Group Limited is listed in Australia (ASX:MQG)
and is regulated by APRA, the Australian banking regulator, as
the owner of Macquarie Bank Limited, an authorized deposit
taker. Macquarie also owns a bank in the UK, Macquarie
Bank International, which is regulated by the Financial
Services Authority. Macquarie’s activities are also subject to
scrutiny by other regulatory agencies around the world.
Founded in 1969, Macquarie employs approximately
14,400 people in more than 70 office locations in 28
countries. Including the recent acquisition of Delaware
Investments, Macquarie had assets under management of
A$342 billion at 31 December 2009.
Macquarie Securities is committed globally in research
and distribution. Its global equities team consists of
experienced professionals delivering global coverage and
on the ground execution. With over 1,600 staff in total
and covering over 2,200 stocks a dedicated sales team
servicing international institutional clients in 23 financial
centers. Macquarie Securities Group has offices world
wide including Hong Kong, London, New York, Toronto,
Tokyo, Geneva, Frankfurt, Boston and San Francisco.
Eric RolesHead, Australia/New Zealand
Macquarie Capital (USA) Inc. New York
Level 23, 125 West 55th Street, New York
t +1 212 231 2559
m +1 917 403 2753
w www.macquarie.com
Supporter Profiles
Research.Target.Engage.
media & investor communications
www.fortbridge.com
Disclaimer: This document is issued by the relevant Macquarie Group entity in the relevant jurisdiction with the proper regulatory and/or securities license, as follows: United States: Macquarie Capital (USA) Inc. (“MCUSA”), a broker dealer registered with the SEC and is a member of FINRA and SIPC. All contacts listed in this document are employed by one of MCUSA’s affiliates unless otherwise noted. Any U.S. persons wishing to effect a transaction in any securities should do so with MCUSA. This document should not be construed as a solicitation to buy or sell any security or product, or to engage in or refrain from engaging in any transaction. Any Macquarie Group entity noted on this page is not an authorized deposit-taking institution for the purposes of the Banking Act 1959 (Cth), and the obligations of such entity do not represent deposits or other liabilities of Macquarie Bank Limited ABN 46 008 583 542. Macquarie Bank Limited does not guarantee or otherwise provide assurance in respect of the obligations of such other Macquarie Group entity, unless noted otherwise. Information correct as of 22 February 2010.*Source Iress Market Technology and includes retail share
For more information contact: Eric Roles Head, Australia/New Zealand. Macquarie Capital (USA) Inc. New York+1 212 231 [email protected]
macquarie.com
Adam Simpson Australian Emerging Leaders Research, Sydney +61 2 8232 [email protected]
Phil Zammit Small Cap Equity Sales, Sydney+61 2 8232 3122 [email protected]
Andrew Wackett Australian Emerging Leaders Research, Perth +61 8 9224 [email protected]
We’re right there with you
Macquarie Securities Group is a full service institutional broker with highly rated research and sales teams worldwide. Our emerging leaders research team is one of the largest in Australia with five dedicated industrial analysts and three dedicated resource analysts based in Sydney and Perth. Our Australian emerging leaders coverage includes 139 Australian companies outside of the ASX 100. The coverage extends to companies located in every state and territory. In addition, Macquarie has a dedicated small cap sales team plus a dedicated small cap trader in Sydney
supported by our Australian sales teams in New York. We also have the leading institutional market share in Australian ex-100 stocks* from 1 July 2009 to 28 February 2010.
Finding tomorrow’s big caps starts with finding today’s best small caps and Macquarie is aware of the challenges of the journey. So when you need a partner who is as committed as you are, partner with Macquarie. Macquarie is proud to sponsor the ASX Small to Mid Caps Conference 2010 in New York.
Supporter Profiles
Madison Williams and Company is a full-service U.S.
based investment bank and leading Principal American
Liaison offering a premium suite of U.S. listing and advisory
services to Australian issuers.
Madison Williams, formerly the principal capital markets
business of SMH Capital, was taken private through a
management buyout on December 11, 2009.
As a private investment bank, the firm provides a broad
range of products and services to its corporate clients
including capital markets advisory for publicly and privately
placed debt, equity and structured finance transactions.
In the last five years, Madison Williams, under SMH Capital,
has raised over US$28 billion for its corporate clients. The
firm also provides U.S. based research, sales and trading to
a broad base of institutional customers.
Stephen NashManaging Director
Madison Williams and Company
1 Market Street, Spear Tower, 35th Floor
San Francisco, CA, 94105
t + 1 415 449 0196
w www.madisonwilliams.com
Morgan Stanley is a leading financial services firm providing
a wide range of investment banking, securities, investment
management and wealth management services.
Morgan Stanley has been an integral and significant
participant in Australia’s capital markets, financial sector and
corporate world for over fifty years. The Firm provides a full
range of services to local and international clients, including:
• InvestmentandMerchantBanking:Corporatefinance,
M&As, IPOs, advisory, capital markets, equity and bond
capital raisings and placements. Andrew Hunter and
Chris Richmond are investment bankers with a particular
focus on small and mid-cap corporates.
• SalesandTrading:Comprehensiveservicesto
institutional investors covering equity, fixed income,
commodities and derivative products, prime broking
services. Michael Carmody specializes in the small and
mid-cap sector.
• Research:Coverageofmajorindustriesandsectors,
in addition to equity strategy and macroeconomics.
Chris Nicol, Shanaz Cassim and David Evans focus
on researching the small and mid-cap sector
Olivia BabarczyVice President, Corporate Access Australia
Morgan Stanley
t +61 2 9770 1661/+61 400 740 474
w www.morganstanley.com
MADISONWILLIAMSAND COMPANY
Stephen Nash Managing DirectorHead of OTCQX Advisory Group One Market Street | Spear Tower| Floor 35San Francisco, CA 94105P) +1‐415‐449‐[email protected]
OTCQX International is a prominent equity trading market in the United States that does not require SEC registration or Sarbanes‐Oxley Compliance. Built on a robust electronic quotation and trading platform, OTCQX International has emerged as the premier cross‐listing venue for non – U.S. issuers that wish to benefit from U.S. trading and investor demand without diluting their current shareholder base.
Madison Williams and Company is a full‐service U.S. based investment bank and leading Principal American Liaison offering a premium suite of U.S. listing and advisory services to Australian issuers. Madison Williams, formerly the principal capital markets business of SMH Capital, was taken private through a management buyout on December 11, 2009. As a private investment bank, the firm provides a broad range of products and services to its corporate clients including capital markets advisory for publicly and privately placed debt, equity and structured finance transactions. In the last five years, Madison Williams, under SMH Capital, has raised over US$28 billion for its corporate clients. The firm also provides U.S. based research, sales and trading to a broad base of institutional customers.
For inquiries about our U.S. listing and capital advisory services, please visit www.madisonwilliams.com or contact:
Enhance Your ADR Program with OTCQX International and Principal American Liaison Services from
Madison Williams
Michael Fitzgerald Managing DirectorCo‐Head of Investment Banking527 Madison Ave, 15th FloorNew York, NY 10022P) +1‐212‐317‐[email protected]
Nitin RajkumarAssociateOTCQX Advisory GroupOne Market Street | Spear Tower| Floor 35San Francisco, CA 94105P) +1‐415‐449‐[email protected]
m d r c e ff th u h r & Co n rp r m PC 0 09
n om
Royal Bank of Scotland (RBS) is consistently ranked one of
the leading equities houses in Australia and New Zealand.
It is also a market leader in the distribution of Australian and
New Zealand equities to institutional investors around the
world. RBS provides institutional clients with a full spectrum
of equity related services including research, account
management, distribution and execution.
RBS’s research analysts in Australia and New Zealand
provide views on economics, markets and industry
sectors, covering approximately 350 companies assisting
institutional and corporate clients in developing macro and
micro investment strategies.
RBS has a significant distribution network in Australia
and New Zealand with specialist sales staff in Sydney,
Melbourne, Auckland, Hong Kong, London and New York.
The Company’s global equities network includes sales
staff in more than 40 countries providing access to and
distribution into all the major financial markets in Europe,
North America and Asia.
Trent MartinAustralian/New Zealand Equity Sales
Royal Bank of Scotland
600 Washington Blvd
Stamford, Connecticut, 06901
t +1 203 897 7098
w www.rbs.com
SpringTree Global Investors, LLC (SpringTree) is a
New York-based private investment management
firm. SpringTree focuses on long-term debt and equity
investments in small-cap and mid-cap publicly-traded
companies around the world, particularly on companies
requiring US$5 million to US$150 million in funding.
SpringTree provides creative funding, individually structured
for each investment opportunity. It invests across a broad
range of industries and a wide range of geographies and
economic environments.
SpringTree’s creativity and its team’s experience and skills
allow it to consider investments across a wide range of
companies – established profitable businesses, high growth
developing companies, and distressed opportunities.
Despite the current economic conditions, SpringTree is
actively investing and welcomes queries from potential
investee companies and intermediaries.
Jeff EastonManaging Director
SpringTree Global Investors
55 Fifth Avenue, 18th floor
New York, NY, 10003
t +1 212 255 3552
w www.springtreegi.com
Supporter Profiles
SPRINGTREE GLOBAL INVESTORS, LLC
We are a New York-based alternative asset management company that makes debt and equity investments in public companies around the world. We invest in highly competent, passionate and dedicated management teams to assist them with achieving their vision and creating value for their shareholders.
OUR APPROACH
SpringTree is disciplined and selective in its value-creating approach. The firm wants to participate in the long-term success of its portfolio companies, but does not typically seek control investments or board seats. It aims to be a true and flexible partner to its investee companies and form long-term relationships with them, empowering the management to execute on its plans.
SpringTree is comfortable investing in a range of markets and countries. It welcomes company referrals from investment bankers and other company advisors and intermediaries.
CONTACT
Jeff EastonManaging DirectorTelephone: +1 646 395 3931Email: [email protected]
Headquartered in Zurich and Basel, Switzerland, UBS is a
global firm providing financial services to private, corporate
and institutional clients. Its strategy is to focus on international
wealth management and the Swiss banking business
alongside its global expertise in investment banking and
asset management.
In Switzerland, UBS is the market leader in retail and
commercial banking. UBS is present in all major financial
centers worldwide. It has offices in over 50 countries, with
about 36% of its employees working in the Americas, 36%
in Switzerland, 15% in the rest of Europe and 13% in Asia
Pacific. UBS employs more than 65,000 people around
the world. Its shares are listed on the SIX Swiss Exchange,
the New York Stock Exchange (NYSE) and the Tokyo Stock
Exchange (TSE).
Mick MillardExecutive Managing Director
UBS Investment Bank
1285 Avenue of Americas
New York, NY, 10019
t + 212 713 8821
w www.ubs.com
Supporter Profiles
© UBS 2010. All rights reserved.
Developing valuable partnershipsAt UBS, we believe strong, supportive partnerships enable people to
make confident decisions that lead to success. That’s why we’re proud
to support ASX Limited at the 2010 ASX Small to Mid Caps Conference.
www.ubs.com
As one of the world’s top 10 listed exchange groups,
measured by its market capitalization, ASX group was
created through the merger of the Australian Stock
Exchange and the Sydney Futures Exchange in 2006.
ASX group operates under the brand, Australian Securities
Exchange.
The Australian Securities Exchange spans the markets for
corporate control, capital formation and price discovery
and functions as an operator, supervisor, central
counterparty clearer and payments system facilitator.
The diverse domestic and international customer base of
the Australian Securities Exchange includes issuers of a
variety of listed securities, investment and trading banks,
fund managers, hedge funds, commodity trading advisers,
proprietary and retail traders, and retail investors.
With a market capitalization of over A$1.4 trillion the
Australian equities market is consistently weighted in global
indices (MSCI and S&P/Citigroup Global Equities Indices
BMI) among the top eight equity markets in the world.
Among Asia–Pacific stock markets it is second only to
Japan in terms of free float market capitalization.
ASX operates in a market that has the fourth largest
investment fund assets pool in the world and the largest
in Asia. This investment pool is underpinned by the
superannuation (guarantee) scheme, which is projected to
grow Australian Funds under Management (FUM) to over
A$2 trillion by 2015.
With approximately 2,200 listed issuers the Australian
market is highly diverse, offering global investors exposure
to a wide range of sectors including Financials, Industrials,
Resources (Mining and Oil and Gas), Healthcare and Life
Sciences, and Information Technology.
The market is an internationally recognized center for
Resources equity capital, and issuers include global giants
such as BHP Billiton and Rio Tinto, as well as an excellent
representation of future leaders in the mid-tier producers
and junior miners. The market also has a significant
mining services sector providing technology, services and
supplies to the global mining industry.
Australia’s status as a major supplier of commodities,
coupled with its unique position in the Asia-Pacific region
and time-zone, provides investors in the Australian equity
market with excellent exposure to the growth of emerging
economies in the region, notably China and India –
exposure which, importantly, is provided within a stable
and reputable market environment.
The Australian equity market has experienced outstanding
growth in recent years, with annual turnover increasing
fivefold and market capitalization doubling in the last ten
years. In the same period average market liquidity, at 100%
in 2009, has more than doubled.
About ASX
Global Index ComparisonASX equity market returns in the last decade have also been impressive when compared with those of other market
performances, as the graph below demonstrates.
ASX is also among leading equity markets for initial and secondary capital raising. The World Federation of Exchanges’ (WFE)
data shows that ASX ranks third in the world for capital raised by listed issuers in the 2009 financial year.
ASX has an international reputation for conducting markets of integrity founded on many years of consistent and constant
supervision. ASX commits considerable resources to monitoring and supervising the markets it operates thereby ensuring
vital investor confidence that contributes to market depth and liquidity.
Further Information
David MitchellRegional Manager, North America
t +1 312 788 3363
Eddie GrieveManager Listings, Business Development
t +61 2 9227 0519
This is not intended to be financial product advice. To the extent permitted by law, ASX Limited ABN 98 008 624 691 and its related bodies corporate excludes all liability for any loss or damage arising in any way including by way of negligence. This document is not a substitute for the Operating Rules of the relevant ASX entity and in the case of any inconsistency, the Operating Rules prevail.
© Copyright 2010 ASX Limited ABN 98 008 624 691. All rights reserved 2010.
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Media supporters
MADISONWILLIAMSAND COMPANY
