Four Seasons, Hong Kong · Four Seasons Hotel 8 Finance Street, Central, Hong Kong, China t (852)...
Transcript of Four Seasons, Hong Kong · Four Seasons Hotel 8 Finance Street, Central, Hong Kong, China t (852)...
Supported by
Four Seasons, Hong Kong29 October 2009A 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.
ASX Small to Mid Caps
Welcome to ‘ASX Small to Mid Caps’, an event that aims to showcase some of our 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.
Following on from the success of the inaugural Hong Kong conference in October last year, this event
is the fifth in the global series and the second of its kind in Hong Kong. The development of the global
series will continue into 2010, with the hosting of the conference in North America and Europe.
ASX Small to Mid Caps is brought about by the co-operation of the Australian Securities Exchange,
the broker community 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 Hong Kong has continued with
major international brokers, investment banks and other organisations offering their support to the
event, and extending invitations to their respective clients.
The companies involved in the event, with capitalisations below A$1.5 billion, represent an important
sector of the Australian market that does not always get the international exposure it deserves.
Importantly, from the Hong Kong 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.
In addition to ASX Small to Mid Caps, throughout this week ASX have also run a series of seminars in
both Hong Kong and China working with our event partners to promote ASX listing opportunities from
the China region.
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 2010.
Robert Elstone
Managing Director and CEOAustralian Securities Exchange
Welcome
Wednesday 28 October
7:30pm – 9:30pm Pre-Event Welcome Reception at Blue Bar in the Four Seasons Hotel
(for ASX listed companies only)
Thursday 29 October
8:15am Registration and early morning tea
8:45am Welcome address: Phil Ingram, Senior Trade Commissioner for the
Australian Trade Commission Hong Kong, and ASX
9:00am Elders Limited
9:25am Photon Group Limited
9:50am Nuplex Industries Limited
10:15am Industrea Limited
10:40am OM Holdings Ltd
11:05am Morning Tea
11:25am Pike River Coal Limited
11:50am Eastern Star Gas Limited
12:15pm Jabiru Metals Limited
12:40pm Western Areas NL
1:05pm Lunch
1:45pm Atlas Iron Limited
2:10pm Platinum Australia Limited
2:35pm Grange Resources Limited
3:00pm Kagara Ltd
3:25pm Afternoon Tea
3:45pm Indophil Resources NL
4:10pm Nexus Energy Limited
4:35pm Brockman Resources Limited
5:00pm St Barbara Limited
5:25pm ASX wrap up
5:30pm Close of conference
8:00am – 5:30pm One-on-One meetings
6:00pm – 9:00pm ASX Financial Markets reception and wine tasting: RED Bar and Restaurant
4th floor, Two IFC, 8 Finance Street, Central, Hong Kong
Join us and sample some of Australia’s award winning wines
Agenda
Venue details
Four Seasons Hotel
8 Finance Street, Central, Hong Kong, China
t (852) 3196-8888 f (852) 3196-8899
The welcome address and presentations by ASX listed
companies are being held in Victoria 1 (level 2) of the Four
Seasons Hotel.
One-on-one meetings
One-on-one meetings between Investors and ASX listed
companies are being held in Victoria 3 and 4 (level 2) and
Boardrooms 1 – 3 (level 5). 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 Sara Lewis at the
‘One-on-one Concierge Desk’ on level 2. Sara 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 post-event
Company presentations and videos will be made
available following the conference at
www.asx.com.au/smalltomidcaps/hongkong
ASX contact details
Sara LewisEvent Manager, ASX
+61 439 419 033 or [email protected]
Andrew MusgraveRegional Manager, Asia
+61 414 392 905 or [email protected]
Eddie GrieveManager, Listings and Capital Access, ASX
+61 418 246 698 or [email protected]
ASX Financial Markets Reception
Thursday 29th October, 6.00pm – 9.00pm
The ASX Financial Markets reception will be held
immediately following the conference at RED Bar and
Restaurant, overlooking the breathtaking backdrop of
Victoria Harbour and Kowloon Peninsula. The reception will
provide a further networking opportunity for all investors,
event supporters and ASX Listed Companies and will
include a tasting of some of Australia’s award winning wines
brought to you by MICHAELDATTA Vineyards (MDV).
MICHAELDATTA Vineyards (MDV) is all about growing
great fruit and producing high quality wines from its single
vineyard, old vines in Eden Valley, South Australia. MDV
consists of the oldest registered Riesling vines in South
Australia (at more than 110 years old).
Map and directions to Red Bar
4th floor, Two IFC, 8 Finance Street, Central, Hong Kong
1 Take the escalator in the Four Seasons lobby up to the
IFC mall.
2 Continue straight ahead, passing Escada and Valentino.
3 Once at Giuseppe Zanotti, take the escalator on the left
hand side up to podium level 3.
4 Once on podium level 3, turn left.
5 Take the escalator on the left hand side to podium level
4 and turn left.
General Information
9.00AM – ELDERS LIMITEDMalcolm Jackman, Chief Executive Officer
Born and educated in New
Zealand, Malcolm has a BSc in
Pure Mathematics and a BCom
in Accounting. He spent his early
career as an officer in the Royal
New Zealand Navy, retiring as a
Lieutenant Commander, before
joining the staffing services and recruitment industry in 1984
performing a variety of senior roles in New Zealand, Australia
and North America including CEO of Manpower Australia
and New Zealand.
He joined the publicly listed Coates Hire in 2003 as CEO,
and oversaw a period of rapid and sustained growth as
the company consolidated its position in the Australian
equipment rental market as well as rationalising their
overseas operations. In early 2008 Coates was acquired
by a consortium of Carlyle and National Hire. Malcolm was
appointed to lead the merged group and managed the
integration before stepping down in July 2008.
In September 2008 he was appointed as the CEO of
Futuris. In April 2009 the Company changed its name to
Elders Limited.
27 Currie Street, Adelaide
South Australia, 5000
t +61 8 8425 4821
w www.elders.com.au
9.25AM – PHOTON GROUP LIMITEDMatthew Bailey, Chief Executive Officer
Matt began his career in 1986
at The Bailey Group as a
Sales Representative and then
progressed to Staff Leadership,
Account Management and
eventually CEO at the age of 26.
Matt’s sales and marketing savvy
coupled with his motivational and leadership skills, ensured
a successful partnership with each client and contributed to
The Bailey Group’s amazing growth.
In March 2004 The Bailey Group was sold to Photon Group
as its tenth company and Matt then joined Photon as CEO.
Since Matt’s appointment as Photon CEO, and subsequent
appointment as Executive Director, Photon was listed on
the ASX (April 2004) and has expanded to over 50 different
independent specialist businesses. Photon is currently
ranked 14th in Global Marketing Services Company
(revenue) according to Advertising Age and employs over
5000 full-time and part-time staff.
Photon’s continued success in a challenging financial
environment is due in part to its diverse business range and
in part to Matt’s exceptional understanding of the various
industries in which Photon is involved. From traditional
media advertising to digital and experiential marketing, from
social networking to public relations, Matt has an innate
comprehension of what the consumer wants and how to
transform that knowledge into profitable revenue.
Level 9, 155 George Street, Sydney
New South Wales, 2000
t +61 3 9843 3110
w www.photongroup.com
Presenter Biographies
9.50AM – NUPLEX INDUSTRIES LIMITEDJohn Hirst, Managing Director
John was appointed Managing
Director of Nuplex Industries in
January 2001.
A 40+ year company veteran
who joined as Technical Service
Manager in 1967.
He has lead the company through a number of major
growth phases to market leadership in Australasia and a
significant global player in the coating resins sector.
49-61 Stephen Road
Botany, New South Wales, 2019
t +61 2 9666 0300
w www.nuplex.co.nz
10.15AM – INDUSTREA LIMITEDRobin Levison,Managing Director and Chief Executive Officer
Mr Levison was appointed
CEO 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, 4074
t +61 7 3725 5400
w www.industrea.com.au
Presenter Biographies
10.40AM – OM HOLDINGS LIMITEDPeter Toth, Chief Executive Officer
Peter Toth is the CEO of OM
Holdings, an ASX 200 company
focusing on minerals exploration,
mining of manganese ore
in Australia, production of
manganese alloys in China as
well as marketing and trading of
steelmaking raw materials from its Singapore head office.
Peter joined OM Holdings in September 2008. Prior to
this he worked and studied in Japan and held various
management roles with BHP Steel and BHP Manganese in
Australia. In 1998 he joined Billiton’s Samancor Manganese
business and held various senior commercial roles in
Australia and The Netherlands. Following the BHP and
Billiton merger in 2001 he moved to Singapore as Vice
President Manganese Marketing, followed by becoming
the Vice President Iron Ore Marketing. He later assumed
responsibility for the total marketing and logistics activities of
BHP Billiton’s Carbon Steel Materials group as its Marketing
Director.
Mr Toth has received a Bachelor of Business degree from
Monash University in International Business and Japanese,
a Graduate Certificate in Management from Deakin
University and a Master of International Business from the
University of Melbourne. He has undertaken executive
development programs at INSEAD and Stanford University.
80 Marine Parade #08-08
Singapore, 449269
t +65 6346 5515
w www.omholdingsltd.com
11.25AM – PIKE RIVER COAL LIMITEDGordon Ward, Managing Director
Gordon Ward has 22 years
experience in the resource
sector and is the Managing
Director of Pike River Coal.
He has been Chief Executive
since January 2007 and is a
director of national resource industry lobby group Straterra.
Gordon was previously General Manager for New Zealand
Oil and Gas, managing that company’s involvement in the
significant offshore Tui oil and Kupe gas/condensate field
developments.
Since 1998 Gordon has been responsible for all aspects of
Pike River Coal, taking it through design and construction,
its 2007 initial public offer and into mining operations.
PO Box 25 263
Wellington, New Zealand
t +64 4 494 0190
w www.pike.co.nz
Presenter Biographies
11.50AM – EASTERN STAR GAS LIMITEDDavid Casey, Managing 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 the recent announcement of ESG as Australia’s 10th
biggest oil and gas company.
Level 7, 51 Pitt Street, Sydney
New South Wales, 2000
t +61 2 9251 5599
w www.easternstar.com.au
12.15PM – JABIRU METALS LIMITEDGary Comb, Managing Director
After qualifying as an engineer,
Gary worked for a number of
gold mining companies including
Central Murchison Gold and St
Barbara Mines. He subsequently
held a range of senior positions
with gold producer Metana
Minerals NL including the position of Operations Director.
During the next 12 years, Gary held senior executive
roles with mining contractors, including eight years with
Macmahon Contractors before taking up the role of Chief
Executive Officer of BGC Contracting.
Gary initially joined Jabiru Metals prior to the Initial Public
Offering as a Non-Executive Director. He was appointed as
Managing Director in 2003.
Since taking on the full-time Managing Director’s role,
Gary has progressed the Jaguar zinc/copper project
from concept through feasibility to production. The
Jaguar Operation is one of the few new zinc mines to be
developed in the past 10 years in Australia – the basis for
the future growth of Jabiru.
PO Box 1114, West Perth
Western Australia, 6872
t +61 8 9426 8300
w www.jabirumetals.com.au
Presenter Biographies
12.40PM – WESTERN AREAS NLJulian Hanna, Managing Director
Julian Hanna is Managing
Director of Western Areas
(WSA), a nickel exploration and
mining company which listed on
the ASX in July 2000 and on the
TSX in December 2005. Julian
is also a Non-Executive Director
of Canadian listed company, Mustang Mineral Corp. WSA
has a current market capitalisation of A$895 million.
WSA’s main assets include the high grade Flying Fox nickel
mine, Spotted Quoll, Diggers South and New Morning
nickel deposits, Cosmic Boy nickel Concentrator and
substantial nickel exploration interests in Canada. WSA
currently sells nickel concentrate to BHP Billiton’s Kalgoorlie
nickel Smelter.
Julian originally trained as a geologist in New Zealand.
During a 30 year career, he has been involved in the
discovery and development of a number of gold and nickel
deposits in Western Australia.
Julian is looking forward to presenting an update on the
company and a strategy to become Australia’s second
largest nickel producer and to be one of the lowest cost
nickel miners in the world.
Suite 3, Level 1, 11 Ventnor Avenue, West Perth
Western Australia, 6005
t +61 8 9334 7777
w www.westernareas.com.au
1.45PM – ATLAS IRON LIMITEDDavid Flanagan, Managing Director
David graduated from the WA
School of Mines in 1993 and
has over 18 years experience
in a variety of mining and
exploration roles in Australia,
West Africa and Indonesia.
David was the 2009 winner of the WA Business News
“First Among Equals” at the 40under40 awards and voted
Australia’s Best Mining Executive 2008 by Resource
Stocks.
David listed Atlas Iron in December 2004 and has grown
the Company from a grass roots explorer to an iron ore
exporter in a region typically dominated by multinational
mining companies.
Atlas, through access to shared rail and port, is the first
company to be serviced by a true third party infrastructure
agreement in the history of iron ore mining in the Pilbara.
The Company became the first Pilbara iron ore junior
to move into production in December 2008. Atlas was
voted Digger of the Year at this year’s Diggers & Dealers
Conference in Kalgoorlie.
PO Box 223, West Perth
Western Australia, 6872
t +61 8 9476 7900
w www.atlasiron.com.au
Presenter Biographies
2.10PM – PLATINUM AUSTRALIA LIMITEDJohn Lewins, Managing Director
Mr Lewins is the Managing
Director of Platinum Australia
Limited having joined the
company when it listed on ASX
in November 2000.
He is a qualified Mineral
Engineer with some 30 years experience in the Mining
Industry who has worked in Africa, Australia, Asia and
the Former Soviet Union. He has extensive experience
in managing the development of mining projects from
Feasibility Studies through to successful operations.
In Australia, Mr Lewins was responsible for the development
and operations management of three Gold Mines and the
McArthur River Lead - Zinc Mine while with MIM Holdings.
His other experience includes the development of a Copper
SX/EW operation in Mongolia and a Gold Mine in Armenia
as well as numerous gold and base metal studies in various
parts of the world.
Mr Lewins is also the co-inventor of the ‘Panton Process’,
an innovative PGM recovery process for the treatment of
refractory ores, capable of achieving high recoveries into a
high grade concentrate suitable for direct feed to a refinery.
PO Box 1083, West Perth
Western Australia, 6005
t +61 8 9324 1491
w www.platinumaus.com
2.35PM – GRANGE RESOURCES LIMITEDRussell Clark, Managing Director and CEO
Mr Clark was appointed as
Managing Director of Grange
in March 2008 and led Grange
through the merger with
Australian Bulk Minerals.
Mr Clark holds a Mining
Engineering degree (BSc Hons) from the Royal School of
Mines, London and a Graduate Diploma from the Securities
Institute of Australia. In addition he has undertaken a
number of Executive Development programs in Australia
and the USA.
Prior to joining Grange, Mr Clark worked for Renison
Goldfields for over 18 years and with Newmont Mining
Corporation Limited for eight and a half years. He has
over 30 years of mining experience in Africa, Papua
New Guinea, USA and throughout Australia in technical,
project management, general management and executive
positions.
He is a member of the Institute of Materials, Minerals
and Mining and the Australasian Institute of Mining and
Metallurgy. He is also a Chartered Engineer, a Justice of the
Peace and an Affiliate Member of the Australian Institute of
Directors.
Level 11, 200 St Georges Terrace, Perth
Western Australia, 6000
t +61 8 9327 7901
w www.grangeresources.com.au
Presenter Biographies
Presenter Biographies
3.00PM – KAGARA LTDKim RobinsonExecutive Chairman
Kim Robinson is a geologist with
more than 30 years’ experience
in the minerals exploration
and mining industries. He was
previously Executive Chairman
of Forrestania Gold NL for
10 years, during which time
he played a key role in the discovery and development
of several gold and nickel mining operations in Western
Australia, including the Bounty and Mt McClure gold mines
and Maggie Hays and Emily Ann nickel sulphide deposits.
Together with fellow director Joe Treacy, Mr Robinson
initiated the base metal acquisition and exploration strategy
in North Queensland which resulted in the development of
Kagara’s North Queensland Base Metal Operations.
From a $5.25 million IPO in December 1999, Kagara is
today a leading Australian mining company with a diversified
metals portfolio including copper and zinc production
assets in Queensland, an emerging nickel production asset
in Western Australia, and a high quality exploration and
development portfolio.
Level 2, 24 Outram Street, West Perth
Western Australia, 6005
t +61 8 9481 1211
w www.kagara.com.au
3.45PM – INDOPHIL RESOURCES NLRichard LaufmannChief Executive Officer and Managing Director
Richard Laufmann is a mining
engineer. He became the
Managing Director and Chief
Executive Officer of Indophil
Resources NL in June 2007.
From 2002 to March 2006, Mr
Laufmann was the Managing Director and Chief Executive
Officer of Ballarat Goldfields NL. He is a Non-Executive
Director of Rex Minerals Limited and he was a chairman
of the state council of the Minerals Council of Australia –
Victorian division.
From 1986 to 2000, Mr Laufmann worked for WMC
Resources Limited (formerly WMC Holdings Limited) and
held a number of managerial positions, including manager
– mining at Kambalda nickel operations, general manager –
St Ives and general manager – gold operations. In 1996 to
1997, Mr Laufmann was project study manager for WMC
Resources at the Tampakan Copper-Gold Project.
Level 3, 411 Collins Street, Melbourne
Victoria, 3000
t +61 3 8620 5800
w www.indophil.com
Presenter Biographies
4.10PM – NEXUS ENERGY LIMITEDIan TchacosManaging Director
Nexus Energy’s Managing
Director, Ian Tchacos is a
petroleum engineer with over 25
years international experience
in a range of technical and
commercial roles, from
exploration and development
operations to marketing and energy finance.
Prior to joining Nexus Ian held a number of senior
managerial positions in a range of junior and mid-sized oil
companies.
Since Ian’s appointment at Nexus in August 2002, the
company has undergone a substantial growth period,
securing a quality portfolio of exploration and appraisal
assets in the Gippsland and Browse Basins.
Under Ian’s stewardship Nexus has grown from an
exploration company, to a development company, and soon
to be a production company with the start-up of production
from the Longtom gas project in 4Q 2009.
The company has 2P reserves of over 100 MMbbl across
the Longtom and Crux assets, and an exciting suite of
exploration prospects.
Level 8, 28 Freshwater Place, Southbank
Victoria, 3006
t +61 3 9660 2500
w www.nexusenergy.com.au
4.35PM – BROCKMAN RESOURCES LIMITEDWayne RichardsManaging Director
Mr Richards has over 20 years
experience in the mining and
mineral processing industry,
with extensive experience in
the development and operation
of nickel/cobalt and iron ore
businesses. He commenced his
career at Queensland Nickel Pty Ltd in 1985 and moved to
Western Australia in 1997 as the Refinery Manager of the
Murrin Murrin Nickel Cobalt Project. He has been involved
in the design, construction, commissioning and ramp up of
several significant Brownfield and Greenfield Projects within
Australia.
Mr Richards recently fulfilled senior executive roles within
BHP Billiton Iron Ore, and joined Brockman Resources
Limited (formerly Yilgarn Mining Limited) on 1 August 2007.
1 / 117 Stirling Highway, Nedlands
Western Australia, 6009
t +61 8 9389 3000
w www.brockman.com.au
Presenter Biographies
5.00PM – ST BARBARA LIMITEDTim Lehany Managing Director and Chief Executive Officer
Tim is a mining engineer with
extensive operating experience
over the past twenty years with
a number of mining companies,
including Mount Isa Mines Ltd,
WMC Ltd and Newcrest Mining
Limited where he held the role
of Executive General Manager Operations. His career has
focused on the management of large-scale base metal and
gold mining operations and enterprises.
Tim joined St Barbara as Managing Director and Chief
Executive Officer at the start of March 2009 and since that
time has recast the company’s operating philosophy and
strategy to place it on a sound growth footing.
Level 14, 90 Collins Street, Melbourne
Victoria, 3000
t +61 3 8660 1910
w www.stbarbara.com.au
Atlas is an emerging, low-cost 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 8,900km2 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 3Mtpa for Wodgina with mining targeted to
commence in the area in December 2009, where
Atlas has an agreement in place to access the existing
mine infrastructure of the Wodgina tantalum mine.
This will be followed by development of the Wodgina
operational centre in December 2010.
The development of the greater Abydos Area
together with growing export tonnages from Pardoo will
underpin Atlas’ objective of increasing DSO production
rate to 12Mtpa by 2012 and 16Mtpa the following year.
Operations• CurrentlyminingatPardooatanannualisedratein
excess of 1Mtpa growing to 2.5Mtpa
• MineplanningunderwayforWodginamine
development (feasibility study completed)
• ActivelyexploringatWodgina,MtWebberand
Abydos, south of Port Hedland
• Resourceandreservedefinitionongoingat
Wodgina, Abydos and Mt Webber
Recent DevelopmentsIn the past six months Atlas has pursued an
aggressive exploration campaign, in spite of the
Global Financial Crisis, which has delivered significant
increases in Direct Shipping Ore (DSO) resources.
Atlas is also pushing ahead with final planning for
development of the Wodgina mine by year’s end.
Contractual Arrangements100% of the DSO ore production from Pardoo is covered
by four separate off-take agreements with Chinese steel
mills. Off-take negotiations for Wodgina DSO Project ore
will commence in the fourth quarter of 2009.
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: 64.4Mt at 56.6% Fe
(Wodgina and Abydos)
Project Reserve: 17.0Mt at 58.2% 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 170-220Mt of DSO grading
57-60% Fe
• Low-costexpansionofPardooDSOProjectto
2.5Mtpa
• TargetingfirstproductionatWodginaDSOProject
by the first quarter of 2010 at 2Mtpa growing to
3Mtpa later that year
• CompleteAbydosDefinitiveFeasibilityStudyand
3Mtpa permitting
• GrowproductionatAbydos(2010)
• 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)
Brockman Resources is in a unique position in the
Australian iron ore sector with a world-class JORC
compliant resource of 1.4 billion tonnes, uncommitted
cash reserves of A$100 million and close proximity to
existing rail, road and port infrastructure. Brockman
has recently completed a positive pre-feasibility study
for a 17-20mtpa project.
OperationsExploration, development and mining projects.
Recent Developments• RecentcompletionofapositivePre-Feasibility
Study for the Marillana Project, with a resultant
project NPV of up to A$1.64 billion
• BoardapprovaltoproceedtoaDefinitiveFeasibility
Study for the Marillana project
• MaintenanceofcashreservesinexcessofA$95
million
• ContinueddevelopmentofBrockman’scorporate
strategy with UBS appointed corporate advisor
• PortHedlandPortAuthorityconfirmsberth
allocations for 50Mtpa at Port Hedland for the North
West Iron Ore Alliance (NWIOA) and other Juniors
Contractual ArrangementsBrockman Resources is a member of the NWIOA.
Resources/Reserves estimatesTotal JORC compliant resource of approximately 1.4
billion tonnes including 605Mt of Indicated Resource.
Future OutlookBrockman Resources’ key focus for the year ahead
remains the completion of the Marillana Definitive
Feasibility Study and the simultaneous progression
of rail and port access agreements with relevant third
party infrastructure providers, while at the same time
pursuing port development plans at Port Hedland
through the NWIOA. The successful development of
which will allow the Company to achieve its goal of
initial production from the Marillana Project by early
2013.
Brockman Resources Limited (ASX: BRM)
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 238 adjacent to the township
of Narrabri in the northwest of New South Wales,
Australia. ESG holds a 65% interest in and is Operator
of the project.
PEL 238 and adjacent permits PEL 433 and PEL
434, cover 24,500 km2 (6.1 million acres) of the
Gunnedah Basin. Production testing is underway at
several locations, with a recently developed lateral
production pilot delivering outstanding results. 2P
gas reserves of 336 Petajoules (316 BCF) and
3P gas reserves of 1,300 Petajoules (1,225 BCF)
have been independently certified on the basis of
appraisal work completed at 30 September 2008.
Contingent Resources of 6,128PJ (5,800 BCF) were
independently certified in February 2009.
Further reserves upgrades are expected during and
beyond 2009 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 recently completed
with the commissioning of the first of up to ten new
3MW generators.
Contractual ArrangementsIn addition to the Narrabri CSG Project, ESG is farming
into exploration acreage (PELs 6, 427 and 428)
covering 18,200 km2 (4.6 million acres) to the north
of the Narrabri CSG project. ESG will earn interest of
40% – 50% through drilling of one corehole in each
licence area plus acquisition of 100 line km of seismic.
ESG has an option to increase its interest in PEL 6
from 50% to 75% by drilling an additional corehole.
Resources/Reserves estimatesESG’s present target is to increase certified 2P gas
reserves to 1,300 PJ (1,225 BCF) by the end of
2009. The 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.
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.
Eastern Star Gas Limited (ASX: ESG, OTCQX: ESGLY)
Elders is one of Australia’s most historic companies
and one of the major suppliers to the Australian primary
production sector.
Elders’ principal business is the integrated rural
and regional service distribution including supply of
farm inputs and advice, financial services, real estate
services and the marketing and sale of farm outputs.
Elders operates one of Australia’s premier rural
distribution networks, consisting of approximately 390
points of presence across Australia. This has been
supplemented by a recently established network in
rural New Zealand.
Elders also holds interests in the plantation forestry
sector through ITC and residual interests in the
automotive sector through Futuris Automotive.
Elders is currently undertaking twin company
renewal programs. Under the Agenda for Change
program announced in December 2009 Elders is
divesting non-core operations and concentrating
resources around its core primary production sector
operations. Elders Rural Services is undertaking a
business transformation program to lift market share
and earnings generation.
OperationsOperation of the Elders Rural Services network and its
associates and joint ventures – includes 40% interest
in Rural Bank.
Operation of ITC Limited, a hardwood plantation
establisher and manager, which is responsible for
an estate of 170,000 hectares. Negotiation of sale
contracts for, harvest, handling and export of certified
plantation woodchip. Automotive component design
and assembly through Futuris Automotive.
Recent DevelopmentsOn 4 September Elders announced completion of
the Company’s recapitalisation and refinancing with
agreements for the raising of $550 million and entry
into new long term 3 year finance agreements with its
lenders. The recapitalisation, together with asset sales
announced and in progress, is projected to reduce
Elders’ net debt to less than $200 million and proforma
gearing to 14%. The recapitalisation involves a fully
underwritten conditional placement of $400 million and
a 50% underwritten $150 million Share Purchase Plan
with both issues subject to shareholder approval at a
meeting set for 15 October.
Future OutlookForecasts and projections published in the prospectus
for the capital raising anticipate recovery in Elders’
earnings in 2010 as a result of stabilising markets, the
benefits of cost reductions, the removal of uncertainty
surrounding the refinancing, lower interest and
improved results from non-rural services operations.
The prospectus forecasts underlying net profit after tax
improving from the loss of $26.9 million for the year to
June 2009 to a profit of $50.1 million in the year to 30
September 2010. Ongoing improvement is anticipated
as the benefits of the Elders Business Transformation
project are realised.
Elders Limited (ASX: ELD)
Grange Resources is Australia’s leading magnetite
producer and the largest producer of iron ore pellets
in the region. It has a modern, large open pit mining
operation and associated concentrator and pelletising
plant in Tasmania producing in excess of 2.5 mtpa
of product, and with a mine life of over 15 years.
Production is fully sold to Shagang, China’s largest
private steel mill and Grange’s largest shareholder, and
Bluescope in New South Wales, Australia. Grange is
the largest employer in the North West of Tasmania,
with a revenue base in 2008/09 of ~A$350 million.
In addition, Grange has a 70% share in a magnetite
development project near Albany in Western Australia,
the Southdown project, with the potential to produce
almost 7mtpa of iron ore pellets for over 30 years. This
project is well advanced with initial permitting in place,
a pre-feasibility study almost complete, land secured
and access to existing infrastructure – port, power and
water.
Operations• SavageRiver,Tasmania–miningproject,
concentrator and pelletising project, producing
2.5mtpa of Blast Furnace pellets for the next 15
years
• Southdown,Albany,WesternAustralia–magnetite
development project, with potential to produce
6.8mtpa of Direct Reduction grade pellets for over
30 years
Recent Developments• InJanuary2009,GrangemergedwithAustralian
Bulk Minerals, to become Australia’s leading
magnetite producer
• Grangeisnowanironoreproducerwithcashflow
and technical expertise, and has significant growth
potential through its Southdown project
• MajorshareholderandcustomerisJiangsu
Shagang, China’s largest private steel company
• OfftakeistotallycommittedtoShagangand
Bluescope Steel, eliminating the vagaries of the
spot iron ore market
• TheSouthdownprojectcontinuestoadvancewith
ore resources increased by 37% this year to 654
million tonnes and permitting in an advanced state
Contractual ArrangementsSavage River
Shagang 1.2 mtpa of Blast Furnace pellets.
Bluescope 800,000 tpa of Blast Furnace pellets.
Southdown
56% of offtake to Shagang.
The Southdown project is a joint venture between
Grange (70%) and Sojitz (30%).
Resources/Reserves estimates Resources Reserves
Savage River 316.2Mt at 124Mt at
50.7% DTR 49.2% DTR
Southdown 654.4Mt at 388Mt at
36.5% DTR 35.5% DTR
Future OutlookThe outlook for Grange is excellent. The Savage River
operations are highly leveraged to increased iron ore
prices, which are expected as the world comes out of
recession and the numerous stimulus packages around
the world start to drive steel demand once more.
The Southdown project is expected to receive
permits for the mine and port in the near future, which
will then allow detailed engineering to commence on
this high quality project.
Having consolidated its position as the region’s
leading magnetite producer, the Company is looking
for suitable opportunities to grow, through Mergers
and Acquisitions, in carbon steel feedstock resource
projects.
Grange Resources Limited (ASX: GRR)
Indophil Resources NL was incorporated in late 1996
to acquire, explore for and develop gold and copper-
gold opportunities in the Philippines and elsewhere in
South East Asia.
The Company’s key asset is a strategic 34% interest
in the world-class Tampakan Copper-Gold Project in
the southern Philippines. Xstrata has a 62.5% interest
in the project and manages it. Philippine group Alsons
Corporation holds the balance of voting shares. The
Tampakan deposit is an estimated 2.2 billion tonne
mineral resource which, according to latest study
estimates, is capable of being mined at 44-66 million
tonnes per annum for an annual average production rate
of 340,000 tonnes of copper and 350,000 ounces of
gold. The cash operating cost at Tampakan is estimated
to be less than US46c per pound of copper. Project
evaluation has entered a US$74million Final Feasibility
Study phase which is expected to be completed in the
second quarter of 2010.
Indophil also has a range of promising mineral
exploration projects in the Philippines. The Company’s
asset base is underpinned by a strong cash balance
and cash position.
OperationsExploration, leading into minerals development.
Recent DevelopmentsDuring 2008, Indophil was the subject of competitive
takeover bids that focused on the Company’s interest
in the Tampakan deposit.
Indophil has shareholder approval to consider the
sale of its interest in Tampakan which is ranked as
one of the world’s most attractive low-cost, long-life
undeveloped copper deposits.
Contractual ArrangementsIndophil, as a project partner in the Tampakan project,
holds a range of partnership agreements including
those with Xstrata and Alsons Corporation. The
Tampakan deposit sits within a Financial and Technical
Assistance Agreement area granted to the project
partners by the Government of the Philippines.
Resources/Reserves estimatesTampakan: 2.2 billion tonne JORC mineral resource
containing 12.8Mt copper and 15.2Moz gold at a cut-
off copper grade of 0.3%.
Future OutlookIndophil’s future outlook is to maximize shareholder
value utilising the Company’s key asset, its strategic
interest in the Tampakan Copper-Gold Project.
Indophil Resources NL(ASX: IRN)
Industrea Limited is headquartered in Queensland,
Australia comprising a group of companies primarily
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 mining
services through its Huddy’s 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 recently 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 Industrea’s Diesel, Technology
and International businesses have continued to
grow with in excess of $70million of new contracts
announced since January 2009 for China alone.
Contractual Arrangements• CockatooCoal
• BaralabaMine
• Xstrata–MtIsaMines
• 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.
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 ‘Blue-
chip’ 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)
Jabiru is an emerging low cost LME metals producer
listed on ASX. Jabiru was floated on the ASX in
January 2000 to develop the remnant resources of the
old Teutonic Bore mine located in the Goldfields region
of Western Australia, mined between1980-1985. A
joint exploration venture with Inmet Mining (Australia)
Ltd discovered the Jaguar resource 4km south of the
Teutonic Bore site.
Jabiru completed the Bankable Feasibility Study on
Jaguar and with subsequent financing of the project
by ANZ Ltd, the successful construction of both the
concentrator and underground mine began.
Jabiru commissioned the Jaguar copper and zinc
mine in 2008, overcoming a number of mechanical
challenges with the Jaguar concentrator. The Jaguar
operation has gone on to generate record production
figures and revenue exceeding targets.
In 2006, Jabiru successfully won the competitive
tender bid with the Victorian State Government for the
historic Benambra, subsequently renamed Stockman,
project in East Gippsland, Victoria. The Company has
completed a Scoping Study and is now commencing
a pre-feasibility study into the development of the
Stockman Project.
Recent DevelopmentsThe Bentley high grade Cu-Zn-Pb-Au-Ag vms
mineralisation was discovered late 2009, 4.6km
south of the Jaguar mine. The massive sulphide
mineralisation at Bentley is similar to the deposit
currently being mined at Jaguar and the deposit
previously mined at Teutonic Bore. The discovery
hole intersected 10.55m (from 443.8m down hole)
of massive sulphide at 2.4% Cu, 1.7% Pb, 19% Zn,
1.4 g/t Au, 290 g/t Ag (true width = 8m). Preliminary
planning has commenced on the most cost effective
means of developing the resource to allow optimum
utilisation of the existing Jaguar mining equipment and
processing plant.
Jabiru Metals Limited(ASX: JML)
Kagara Ltd is a diversified Australian resources
company, with a strong, low-cost production base
comprising multiple high-grade base metal operations
in North Queensland and a high-quality growth pipeline
encompassing world-class nickel, base metal and
gold projects in Western Australia and Queensland.
Since listing on the ASX in 1999 (the only mining
IPO of that year), Kagara has built a deservedly
strong reputation as one of Australia’s leading mid-tier
mining groups, underpinned by a quality asset base,
a management team with a commitment to organic
growth through exploration and selective acquisition,
and a focus on shareholder returns.
OperationsWith three base metal treatment plants in operation at
Mt Garnet and Thalanga, Kagara’s North Queensland
operations will continue to underpin strong copper
and zinc production, with production of 46,000 tonnes
of zinc concentrate and 23,000 tonnes of copper
concentrate forecast for the 2010 financial year.
Contractual ArrangementsKagara is also set to unlock the substantial value of
its Lounge Lizard Deposit, part of the Company’s
100%-owned Lounge Lizard Nickel Project located
in Western Australia. Kagara recently signed a Heads
of Agreement with Western Areas, owners of the
adjacent Flying Fox mine, to access ore via the Flying
Fox decline.
This agreement will effectively see the two projects
consolidated to form one of Australia’s largest,
high-grade nickel mines with total resources of more
than 2.5 million tonnes, and Kagara join the ranks of
Western Australian nickel producers during the fourth
quarter of 2009.
Future OutlookOne of the primary focuses for Kagara’s longer-term
growth is the 100%-owned Admiral Bay Zinc Project,
located near Broome in Western Australia. A highly
successful $20 million drilling program followed by
a maiden 72 million tonne polymetallic resource has
confirmed that Admiral Bay is potentially one of the
largest zinc-lead-silver-barite deposits in the world.
Kagara has recently repositioned itself financially
following a major capital raising and Strategic Alliance
with the Guangdong Foreign Trade Group (GFTG). The
recapitalisation, which resulted from a $257 million
share placement and equity issue, saw GFTG emerge
with a 19.9% stake in Kagara.
Kagara’s new-found financial strength has also led to
the Company recently confirming its plans to spin-off the
rights to gold in its north Queensland tenements through
the float of Mungana Goldmines. Mungana hosts
approximately 2.6 million ounces of gold in resources.
With a combination of rising metal production,
higher prices, no corporate debt, substantial
exploration upside and the impending IPO of
Mungana, Kagara has succeeded not only in emerging
from the recent financial crisis with a strengthened
investor base and asset portfolio, it has also emerged
well placed to resume its long-term growth path.
Recent Developments• A$257millioncapitalraisingandStrategicAlliance
with Guangdong Foreign Trade Group
• Zerocorporatedebt,providingastrongplatformfor
growth
• Threebasemetalprocessingfacilitiesinoperation
at Mt Garnet and Thalanga ~ targeting FY2010
contained copper production of 23,000t and zinc
production of 46,000t
• NickelproductionatLoungeLizardcommencingin
the fourth quarter of 2009 – minimum production of
50,000tpa of nickel ore
• MunganaGoldminesIPOtobecompletedbythe
end of 2009 – rights to 2.6Moz gold equivalent
resource base at Red Dome, North Queensland
• Pre-FeasibilityStudyunderwayatlarge-scale
Admiral Bay Project ~ current resource 72Mt at
3.1% zinc, 2.9% lead, 18g/t silver and 20% barium
Kagara Ltd (ASX: KZL)
Nexus Energy Limited is a Melbourne based, ASX
listed oil and gas company. In 2007 Nexus entered
the ASX200 following a period of exceptional growth
driven by the Company’s value adding asset strategy.
2009 will see a step change for Nexus as it transitions
from explorer to producer.
Nexus has a unique strategy which includes
holding large equity positions with operatorship. This
strategy is premised on identifying and securing
undervalued hydrocarbon resources, gaining leverage
and financial risk mitigation through farm-outs and
adding value by applying appropriate technical
solutions for the resource commercialisation.
Nexus has assembled a portfolio of high quality
assets, with a substantial reserves base for a company
of its size in two key regions, the Gippsland Basin off
the south-east coast of Victoria and the Browse Basin,
off the north-west coast of Western Australia.
OperationsOil and gas, exploration, appraisal, development and
production.
Recent DevelopmentsNexus has recently completed a Placement and
Rights Issue raising A$74.5 million to strengthen
the Company’s balance sheet and provide financial
stability.
Contractual ArrangementsLongtom gas project, VIC/L29, Nexus 100%
Crux liquids project, AC/L9, Nexus 85%
Echuca Shoals gas/condensate discovery, WA-377-P,
66%/100%
Resources/Reserves estimates2P reserves of 122 MMboe
Future OutlookThe immediate focus for Nexus is completion of
the Longtom gas project (Nexus 100%) with first
production in the fourth quarter of 2009, followed
by the Crux liquids project (Nexus 85%) on the
introduction of an additional new partner. The
Company also has a range of exploration and
appraisal opportunities at various stages of maturity.
Nexus Energy Limited(ASX: NXS)
Nuplex Industries is a global resin manufacturer,
producing resins for paints and coatings with a number
of leading technology and market share positions.
The Company is an Asia Pacific manufacturer
and supplier of resins and related products to the
composites (fibreglass) market with a leading market
share in Australasia and well recognised technology
positions in a number of key markets. Manufacturer
and distributor of industrial raw materials to Australian
and New Zealand chemical, plastic, life science and
construction markets. A profitable business for 53
years as a listed company with a history of organic
growth and successful acquisition. The business has
a broad geographical and business segment exposure
which has been developed for both growth and risk
minimisation.
OperationsResin manufacturing sites:
• NewZealand(Auckland,2)
• Australia(Queensland1,NewSouthWales1,
Victoria 2, West Australia 1)
• Asia(China2,Vietnam,Malaysia,Thailand,
Indonesia)
• USA(EastStLouis,Louisville)
• UK(London)
• Netherlands(BergenopZoom).
Four Masterbatch manufacturing units in Australasia.
Lightweight plaster and specialty flooring and topping
systems produced in New Zealand. Substantial
agency and distribution businesses operated
throughout Australia and New Zealand.
Recent DevelopmentsNuplex Industries completed a successful capital
raising in April 2009 and now has a very conservative
balance sheet with net debt to debt plus equity at
20%. The Company has remained profitable with
a very strong cash flow in spite of the substantial
downturn in demand following the global financial
crisis.
Contractual ArrangementsNuplex Industries enjoys technology relationships with
a number of other major international companies.
Future OutlookThe Company’s future outlook includes completion of
the ‘right sizing’ process to ready the organisation to
produce optimum profitability when markets return to
normal. There is also a focus on growth by investing
in fast growing Asian markets and if available, fairly
priced strategic acquisitions in mature markets.
Nuplex Industries intends to build share through new
technologies offering environmental benefits. The
strong cash flow is expected to continue.
Nuplex Industries Limited(ASX: NPX, NZX: NPX)
OM Holdings Limited (OMH) is an independent,
internationally diversified minerals group with its
primary focus on further expanding its fully integrated
manganese business. Its international operations
currently comprise a successful Singapore based
metals marketing business supported by a manganese
mine in Australia and a ferro alloy processing facility in
China.
OMH is a constituent of the S&P/ASX 200, a
securities index comprised of 200 select ASX listed
companies. OMH listed on the ASX in 1998 and it has
long established relationships with the world’s largest
steel-makers.
OMH holds a 12% shareholding in Shaw River
Resources Limited, an ASX listed company presently
exploring for manganese in Western Australia as well
as a 10% shareholding in Territory Resources Limited
an ASX listed company operating the Frances Creek
iron ore mine in the Northern Territory.
OperationsThe key operations underpinning OMH’s fully
integrated international manganese business
incorporate contributions by the following three
business segments:
• Miningofmanganeseatthe100%ownedBootu
Creek Manganese Project, located in the Northern
Territory of Australia. The mine has the capacity
to produce over 800,000 tonnes of manganese
product annually. The project has a current 15 year
mine life based on existing Mineral Resources.
However significant potential to expand the mine
life in the near term due to the large strategic
land position of over 3,326km2 and the deposit
being strata bound and persistent over long strike
lengths offers excellent exploration prospects.
Expansion options continue to be evaluated with
a secondary processing plant with an annual
production capacity of 300,000 tonnes due to be
commissioned by the end of 2009. The project
has excellent project infrastructure with the mine
located within 60km of the Alice Springs to Darwin
rail link and rail proximity to the Port of Darwin for its
exporting activities.
• Productionofmanganeseferroalloysatafurnace
complex located at Qinzhou in Guangxi Province,
south west China. This is a pivotal region for ferro
alloy smelters and ore distribution at Qinzhou. Ferro
alloy production capacity is 55,000 tonnes per
annum with the facility capable of producing various
manganese ferro alloys with the product mix variable
depending upon the margins sought. The operation
will be further enhanced at the end of 2009 by
commissioning of a dedicated sinter ore facility with
annual production capability of 300,000 tonnes.
The smelter is adjacent to a port and has excellent
transport logistics and competitive power costs.
• Tradingofmanganeseoreandalloys.OMHthough
its trading division has developed a profitable
manganese ore and alloy trading business that
represents a significant market share of the
business of ore imports into China, contract alloy
smelting and sales of alloys to steel mills in China.
The OMH marketing division is capable of handling
20% of all manganese imported into China, and its
activities are complementary to the group’s mining
and processing activities. Marketing and trading of
other commodities includes iron ore and chromite.
Future OutlookOMH and its business units aim to continue to build
upon the expertise and relationships forged by its key
management team particularly within the expanding
economy of the People’s Republic of China, thereby
fulfilling its market niche in the specialised metal
materials market.
OM Holdings Limited (ASX: OMH)
Photon Group Limited (Photon) is a specialist
marketing and communications services company
listed on the Australian Securities Exchange since April
2004.
Photon operates five divisions, each focusing on
a particular area of marketing and communications
services:
• FieldandExperientialMarketing – provides
outsourced sales execution and merchandising
services to FMCG, telecommunications and other
industries;
• InternetandE-Commerce – high growth
combination of digital services, innovative product
sales and transaction based marketing;
• IntegratedCommunicationsandDigital – world
class advertising agencies, recognised for creative
talent;
• SpecialisedCommunications – public relations
and public affairs consultancies, corporate
communications and events management;
• StrategicIntelligence – independent
communications advisory and consumer research.
Photon has been a beneficiary of structural
changes currently taking place in the marketing and
advertising industry. There has been a shift from
mass media to direct to consumer channels, including
internet, mobile and point of sale. Photon is a market
leader in direct marketing and communications
services with over 85% of its earnings derived from
non-traditional advertising services.
Photon is Australia’s largest marketing and
communications group, and was recently ranked by
Advertising Age USA as the 14th largest marketing and
communications group in the world. Photon currently
employs over 2000 full time and over 5000 part
time employees, and has operations in 14 countries
spanning from Asia/Pacific to Western Europe and to
North America.
Recent DevelopmentsIn year to 30 June 2009, net revenue was
A$440.6 million up 7% and underlying EBITDA was
A$93.0million up 8% like for like.
Future Outlook Photon’s strategy is to focus on organic growth
in Financial Year 2010 by further integrating and
consolidating the existing operations.
Photon Group Limited (ASX: PGA)
Pike River commenced production of premium hard
coking coal, in high demand from international steel
and coke makers, in mid-2009.
The new underground mine in the Paparoa Ranges
of the South Island, has opened up New Zealand’s
largest-known deposit of 58.5 million tonnes of
metallurgical coal.
Pike River has long-term contracts to India and
Japan for more than 70% of production and life of
mine contracts to India for 55%.
The mine is expected to produce an average of
one million tonnes of ultra low ash coal a year for at
least 18 years, once full scale hydro-mining starts in
the April-June 2010 quarter. There is further upside in
a deeper second seam.
Pike River has a premium product and competitive
mining costs which are expected to lead to healthy
profit margins once at full production.
OperationsExploration, development and mining.
Recent DevelopmentsPike River is building coal stockpiles at the coal
preparation plant in readiness for the first coal
shipment scheduled for the January – March 2010
quarter. Significant recent achievements include:
• Completionofallsurfaceinfrastructureincluding
commissioning and operation of the 10 kilometre
coal slurry pipeline
• Ventilationestablishedandcoalminingunderwayin
early June 2009
• ContractingsalesofcoalatUS$128tonneto
March 2010 matching the international benchmark
price
• Recruitmentof76additionalstaffinpastyear
• Completionof$10millionrailloadoutfacility
• NominationforaMinistryfortheEnvironmentGreen
Ribbon award.
Contractual ArrangementsLife of mine sales contracts with two Indian
shareholders, Gujarat NRE Coke and Saurashtra Fuels
Private for 55% of production.
Long-term (three year) sales contracts with two
Japanese steel mills for 22% of production.
Resources/Reserves estimates58.5 million tonne JORC compliant resource.
Future OutlookThe key objective is to bring the mine into full
production by the April – June 2010 quarter using
a combination of heavy coal cutting machines and
hydro-mining.
The future outlook is bright, given an improving
international market for hard coking coal. Spot prices
have climbed above US$160 per tonne and Citigroup
are forecasting next year’s hard coking coal price at
US$200 per tonne.
During 2010 the Company will continue exploring
the deeper Paparoa seam. The first test drilling to the
east of the deposit, earlier in 2009, found 9 metres of
coal contained in three separately mineable seams.
The Paparoa coal is a good quality, low ash, high
fluidity coking coal and suited for blending with the
Brunner seam coal.
New projects and acquisitions will be pursued once
the Pike River mine is at steady state.
Pike River Coal Limited(Shares ASX: PRC, NZX: PRC)
(2011 Options ASX: PRCO, NZX: PRCOA)
Following the successful commissioning of the
Smokey Hills Platinum Mine, Platinum Australia Limited
has become one of only two Australian platinum
producers. This open cut and underground mine,
located in the Bushveld Complex in South Africa, will
produce almost 100,000 ozs 4E PGM (platinum +
palladium + rhodium + gold) per annum. It is one of the
lowest cost producers in the industry and will generate
over $50 million per annum in cash flow at current
metal prices.
Platinum Australia is poised to build on the success
of Smokey Hills with the imminent completion of the
Feasibility Study on the Kalahari Platinum Project also
located in South Africa (PLA earning 49% from ARM
platinum), targeting an initial 140,000 oz 3E PGM
production from an open pit operation, with the potential
to expand to up to 300,000 ozs 3E PGM per annum
from a current resource of over 6 Moz 3E PGM.
Operations• SmokeyHillsPlatinumMineinoperation
• KalplatsPlatinumProjectinFeasibilityStudy
• RooderandPlatinumProjectatdrillingstage
Recent Developments• Successfulstartupofthe100,000ozs4EPHM
per annum Smokey Hills Platinum Mine
• CompletionoftheFeasibilityStudyontheKalplats
Platinum Project
• SigningofaHeadsofAgreementunderwhichit
can earn up to a 70% interest in the Rooderand
Platinum Project in South Africa. This project has a
current resource of over 3 Moz PGM and has the
potential to produce 150,000 PGM ozs per annum
from an open pit and underground operation
Resources/Reserves estimatesSmokeyHillsPlatinumMine(PLA69.75%)
Proven and Probable Reserve of 4.64 Mt at 5.14
g/t 4E PGM
KalplatsProject(PLAearning49%)
Measured, Indicated and Inferred Resource of
134.5 Mt at 1.49 g/t 3E PGM containing 6.46 Moz
including High Grade of 31.6 Mt at 3.14 g/t 3E
PGM containing 3.19 Moz
Rooderand(PLAearning70%)
Inferred Resource 15.6 Mt at 6.02 g/t 4E PGM
Future Outlook• Followingthesuccessfulcommissioningofthe
Smokey Hills Platinum Mine, ramp up production to
the design 100,000 ozs 4E PGM per annum
• CompleteDefinitiveFeasibilityStudyontheKalplats
Project and move into the construction phase
• CompletedrillingprogramandcommenceDefinitive
Feasibility Study on the Rooderand Platinum Project
Platinum Australia Limited(ASX: PLA, AIM: PLAA)
St Barbara Limited is an ASX listed Australian gold
producer and mineral explorer. St Barbara’s key assets
include its Southern Cross and Leonora Operations,
both of which are located in Western Australia. Gwalia
Mine at Leonora is the Company’s cornerstone asset.
It is a high quality operation that will underpin long
term cash flows for the Company. Currently the two
gold producing operations produce in aggregate over
200,000 oz of gold per annum. Mineral Resources of
9.4 million ounces of gold including Ore Reserves of
2.6 million ounces of gold as at 30 June 2009, as well
as prospective land bank 14,000 km2 with real organic
growth potential.
Leonora Operations• Productionforecasttogrowto190,000–210,000
ozs per annum over the next three years
• Gwaliareservessupportatleastanineyearlife
• Gwaliaisforecasttobeafirstquartilecashcost
producer from fiscal year 2012 onwards with cash
operating costs of $445-500/oz
• TheTowerHillundergroundpre-feasibilitystudy
has identified 2.5 Mt at 4.6 g/t for 350,000 ounces
of gold, over a six year mine life, to complement
Gwalia ore. A full feasibility study is underway and
is expected to be completed in the March Quarter
2010
• Areviewofthehighgradeundergroundpotential
at northern Tarmoola has increased the Company’s
assessment of value. A study for underground
mining is progressing in parallel with a possible sale
process
Southern Cross Operations• Productionfortheyearwas156,105ounces
• Mediumtermfocuswillbeonhighergrade
underground ore from Marvel Loch Underground
Recent DevelopmentsProductionHighlightsforyearended30June2009
• Produced288,900ozgold,52%higherthan2008
• Successfullycommissionedthehighgrade,long
life Gwalia mine and produced 62,272 oz
• MarvelLochUndergroundproducedarecord
1 million tonnes of ore
• Operationalperformanceandreliabilityimproving
• September2009Quarterlyproductionandcostsin
line with expectations
StrategicHighlightsforyearended30June2009
• Significantlyimprovedsafetyperformance
• Completedstrategicreviewandthreeyearplan
• Undertookanumberofcostreductionprograms
• Improvedenergyandwaterefficiency
• Developedenvironmentalmanagementsystems
Resources/Reserves estimatesSt Barbara Limited’s Ore Reserves as at 30 June 2009
were 13.9 million tonnes at 5.8 grams per tonne of
gold containing 2.6 million ounces. The gold price
assumed in Ore Reserve calculations was $1,075 per
ounce for fiscal year 2010 production and $850 per
ounce thereafter.
St Barbara Limited Mineral Resources including Ore
Reserves at 30 June 2009 were 102.7 million tonnes
at 2.9 g/t for 9.5 million ounces.
Future OutlookObjectivesfor2010:
• Reliablydelivertheguidanceforecastgold
production range of 205,000 – 240,000 oz
• DrivethedevelopmentofGwaliatothedeeper,
higher grade areas of the mine
• Reducecashoperatingcoststowithinorbelowthe
range of A$745 to A$820/oz
• Continuetheimprovementinsafetyperformance
• StrengthentheCompany’sfinancialposition
St Barbara Limited(ASX: SBM)
Western Areas (WSA) is an Australian-based nickel
sulphide explorer and producer listed on the ASX and
TSX. The company’s core asset is the 100% owned
Forrestania Nickel Project, located 400km east of
Perth in Western Australia. WSA’s goal is to become
Australia’s second largest nickel producer and to be
one of the lowest cost nickel miners in the world.
WSA’s primary nickel deposits are:
• FlyingFoxmine–totalcurrentMineralResourcesof
2.0Mt at 4.7% Ni for 104,600 nickel
• SpottedQuolldeposit–totalcurrentMineral
Resource of 2.0Mt at 6.2% Ni for 125,460t nickel
Recent Developments• CosmicBoyNickelConcentratorcommissioned
February 2009
• HeadsofAgreementwithBHPBillitontopurchase
10,000tpa nickel in concentrate. A$45 million to be
funded by BHP Billiton
• HeadsofAgreementwithKagaraLtdtoenable
Kagara’s Lounge Lizard nickel deposit to be mined
using access from WSA’s Flying Fox decline. WSA
will receive an initial non refundable A$20 million
payment
• AgreementwithJinchuanGroupLtdtosellup
to 25,000t nickel in concentrate over a two year
period, commencing early 2010 and is expected to
terminate in December 2011
Western Areas NL(ASX: WSA, TSX: WSA)
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 capitalisation or over two thirds of the total
market capitalisation 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
As one of the world’s leading banks, Credit Suisse
provides its clients with private banking, investment
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 46,700 people. In its Investment Banking
business, Credit Suisse offers securities products and
financial advisory services to users and suppliers of capital
around the world. Operating in 57 locations across 30
countries, Credit Suisse is active across the full spectrum
of financial services products including debt and equity
underwriting, sales and trading, mergers and acquisitions,
investment research, and correspondent and prime
brokerage services.
Peter CappDirector – Head of Asian Sales
Melbourne, Australia
t +61 3 9280 1724
Andrew GilbertVice President – Asian Sales
Hong Kong
t +852 2101 6293
Gavan CarrollVice President – Hedge Fund Sales
Sydney, Australia
t +61 2 8205 4899
w www.credit-suisse.com
Supporter Profiles
Thinking New Perspectives.
Since 1856, we have focused on bringing new perspectivesto our clients. Understanding the past, but shaped by thefuture. Always looking at opportunities and challenges froma different point of view. Bringing together new partners toachieve results that can make the difference for our clients.Because our sole ambition is to turn your vision into a reality.www.credit-suisse.com
Some think competition.
We think partnership.
©20
08 C
RE
DIT
SU
ISS
E G
RO
UP
and
/or
its a
ffilia
tes.
All
right
s re
serv
ed.
CA00868A_AD_A4_GolfBag_MECH:CA00868A_AD_A4_GolfBag 2/15/08 2:47 PM Page 1
Thinking New Perspectives.
Since 1856, we have focused on bringing new perspectivesto our clients. Understanding the past, but shaped by thefuture. Always looking at opportunities and challenges froma different point of view. Bringing together new partners toachieve results that can make the difference for our clients.Because our sole ambition is to turn your vision into a reality.www.credit-suisse.com
Some think competition.
We think partnership.
©20
08 C
RE
DIT
SU
ISS
E G
RO
UP
and
/or
its a
ffilia
tes.
All
right
s re
serv
ed.
CA00868A_AD_A4_GolfBag_MECH:CA00868A_AD_A4_GolfBag 2/15/08 2:47 PM Page 1
Thinking New Perspectives.
Since 1856, we have focused on bringing new perspectivesto our clients. Understanding the past, but shaped by thefuture. Always looking at opportunities and challenges froma different point of view. Bringing together new partners toachieve results that can make the difference for our clients.Because our sole ambition is to turn your vision into a reality.www.credit-suisse.com
Some think competition.
We think partnership.
©20
08 C
RE
DIT
SU
ISS
E G
RO
UP
and
/or
its a
ffilia
tes.
All
right
s re
serv
ed.
CA00868A_AD_A4_GolfBag_MECH:CA00868A_AD_A4_GolfBag 2/15/08 2:47 PM Page 1
Fortbridge Consulting is a media and investor relations firm
representing publicly listed companies. We work with our
clients to build corporate reputation and promote value.
Fortbridge investor communications programs target a
range of stakeholders including shareholders, institutional
investors & funds and the financial media in the markets in
which our clients operate.
With access to up-to-date research and investor contact
information for financial centres around the world,
Fortbridge is able to research and maintain meaningful
sector specific investor lists for our clients. Using this
information, we target relevant institutional investors
and funds to engage their support for our 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 Kemmery Managing 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 authorised
deposit taker. Macquarie also owns a bank in the UK,
Macquarie Bank International, which is regulated by the
FSA. Macquarie’s activities are also subject to scrutiny by
other regulatory agencies around the world.
Founded in 1969, Macquarie operates in more than 70
office locations in 26 countries. Macquarie employed
approximately 12,700 people and had assets under
management of $A243 billion at 31 March 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 900 staff, more than 350 equity
research analysts covering over 1780 stocks and more
than 370 sales and sales trading servicing international
institutional clients in 23 financial centres.
Macquarie Securities Group has offices world wide including
Hong Kong, London, New York, Toronto, Tokyo, Geneva,
Frankfurt, Boston and San Francisco.
Scott Dolling Macquarie Securities
Level 23, One IFC, Hong Kong
t +852 3922 3510
w www.macquarie.com.au
Supporter Profiles
Research.Target.Engage.
media & investor communications
www.fortbridge.com
RBC Capital Markets is A Premier Investment Bank.
Its strengths in providing focused expertise, superior
execution and insightful thinking have consistently ranked
them among the top 20 global investment banks. With
over 3,200 employees, RBC Capital Markets provides
capital markets products and services from 75 offices in
15 countries and work with clients through operations in
Asia and Australasia the UK and Europe and in every major
North American city.
RBC Capital Markets are part of a global financial
institution, Royal Bank of Canada (RBC). RBC has been
providing financial services for over 140 years. RBC is a
top 10 global bank by market capitalisation and has one
of the highest credit ratings of any financial institution:
Moody’s Aaa and Standard & Poor’s AA-.
David HannDirector, Global Mining Sales Asia
RBC Capital Markets
Cheung Kong Centre, 17 Floor
2 Queen’s Road, Central, Hong Kong
t +852 2848 5163
w www.rbccm.com
Standard & Poor’s, a division of The McGraw-Hill
Companies, Inc., is a leading provider of global financial
information, analysis, advice, and credit ratings. With nearly
US$5 trillion in world wide assets benchmarked to its
indices and over 80 years of experience as a global index
innovator, Standard & Poor’s is widely regarded as an
authoritative source for index data and information around
the world.
Standard & Poor’s comprehensive suite of equity, fixed
income, alternative, strategy and custom indices provide
investors with an index for every investment. From the
investable S&P Global 1200 to the S&P/Citigroup Global
Equity benchmark series, S&P global equity indices offer
accurate measures of the markets by region, sector, style,
and size. Other widely tracked equity indices include: the
S&P Emerging Markets series, S&P/IFCI, S&P/IFCG, S&P/
IFCF; S&P GCC (Gulf Cooperation Council); S&P Global
Thematic; and S&P Global Shariah indices. S&P alternative
index offerings include: S&P/Case-Schiller® Home Price
Indices; S&P/Citigroup Global Property; and S&P Listed
Private Equity. S&P/GSCI™ is widely used as a leading
measure of general price movements and inflation in the
world economy.
Seiichiro UchiVice President, Index Services
Standard & Poor’s Japan
1-6-5, Marunouchi, Chiyoda-ku, Tokyo 100-0005
Kitaguchi Building 28th floor
t 03 4550 8568
w www.standardandpoors.com
Supporter Profiles
Global Mining Expertise
RBC Capital Markets is a registered trademark of Royal Bank of Canada. RBC Capital Markets is the global brand name for the capital markets business of Royal Bank of Canada and its affiliates, including RBC Capital Markets Corporation (member FINRA, NYSE and SIPC); RBC Dominion Securities Inc. (member IIROC and CIPF) and Royal Bank of Canada Europe Limited (authorized and regulated by FSA). ® Registered trademark of Royal Bank of Canada. Used under license. © Copyright 2009. All rights reserved.
RBC is a leading provider of global mining products and services. With over 79 professionals, we have one of the largest mining teams globally. Our award-winning research team covers over 140 base and precious metals production and exploration companies, and our trading and distribution services are consistently ranked highly across the globe. To meet a range of client needs, RBC provides global mining expertise in corporate finance, institutional equity sales and trading, research and corporate banking. RBC has been providing financial services for over 144 years. We are a top 10 global bank by market capitalization and have one of the highest credit ratings of any financial institution: Moody’s Aaa and Standard & Poors AA-.
For more information about RBC Capital Markets products and services, please visit www.rbccm.com.
Standard & Poor’s does not sponsor, endorse, sell, or promote any S&P index-based product.
Standard & Poor’s Indices. More choices. More opportunity.
An index for every investment. A solution for every investor.
RATINGS EQUITY RESEARCHRISK SOLUTIONS DATA SERVICES
INDICES
FUND SERVICES
See the world the way you want to see it. From the S&P Global 1200 and S&P/Citigroup
Global Equity Indices to the S&P Emerging Markets Indices and S&P Custom Indices,
Standard & Poor’s provides investors with the tools and insight to capture unique investment
opportunities. No matter what your current or future indexing needs, compare, analyze, and
evaluate confidently with Standard & Poor’s indices.
www.indices.standardandpoors.com
ASX IPO Week – Hong Kong 2009
Throughout the week of the Hong Kong ASX Small to Mid Cap road show, ASX ran a series of seminars in Hong Kong and
China with event partners to promote listing opportunities to companies in the China region.
As a leading exchange in the region and the gateway to the Australian capital market, ASX offers a significant opportunity
to Hong Kong and Chinese companies to access a capital market that has a worldwide reputation for reliability, integrity
and efficiency. Liquidity of the capital market, underpinned by Australia’s Superannuation (retirement savings) system,
consistently places ASX among global leaders in capital raising – 3rd in the world in 2009.
The significant sectoral diversity of the Australian market, with particular strength in Resources and Financials, offers appeal
to companies across a wide spectrum of industry groups.
The seminars focused on the key features of the Australian market and the ongoing benefits of an ASX listing as well as
provided detailed information about the Australian IPO process, the ASX listing requirements and key legal and regulatory
issues for companies from the region.
ASX: a global exchangeAustralian Securities Exchange is ranked in the top 10 listed global exchange groups by market capitalisation.
Rank Exchange MarketCapitalisation(A$Billion)
1 Hong Kong Exchanges and Clearing (HKEx) $ 24.1
2 Chicago Mercantile Exchange (CME) $21.4
3 Deutsche Börse $18.6
4 NYSE Euronext $8.6
5 Intercontinental Exchange (ICE) $8.2
6 Singapore Stock Exchange (SGX) $7.7
7 Australian Securities Exchange (ASX) $5.8
8 NASDAQ OMX Group $5.0
9 Dubai Financial Market $4.6
10 London Stock Exchange (LSE) $4.4
Source: Bloomberg, as at Aug 2009
IPO Activity
Initial Public Offering (IPO) activity In line with many global markets, the IPO market in Australian has remained relatively dormant in the six months to 30 June 2009.
The Australian equity market has experienced significant growth over the last 15 years, with annual turnover increasing
fivefold and market capitalisation doubling in the last ten years. In the same period average market liquidity, at 106% in
2008/2009, has more than doubled.
IPO Activity
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
ASX Equity Market Turnover Average Total Market Capitalisation and Liquidity (1987 to 2008)
Turnover A$B Average Mkt cap A$B Liquidity %
A$
B
Pe
rc
en
ta
ge
(%
)
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
0
10
20
30
40
50
60
70
80
90
100
110
0
50
100
150
200
250
300
350
0
5
10
15
20
25
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
IPO Cap issued $B
New Listings on ASX – 1999 to 2008 by number and value listed
ASX provides a solid platform for capital raisingsASX is consistently among leading markets for initial and follow-on capital raising. The World Federation of Exchanges’
(WFE) data shows that ASX was ranked sixth in the world for capital raised by listed issuers over 2006 and 2007, and that
this ranking rose to third for the 12 months to June 2009.
IPO Activity
0
50
100
150
200
250
300
350
NYS
E Eu
rone
xt G
roup LSE
ASX
Hon
g Ko
ng
BME
Span
ish
Ex.
BM&F
BOVE
SPA
TSX
Bors
a Ita
liana
NAS
DAQ
OM
X
Shan
ghai
SE
Toky
o SE
Joha
nnes
burg
SE
Nat
iona
l Sto
ck E
xcha
nge
Indi
a
Shen
zhen
SE
US$
B
Capital Raised by Share issue in 2009 Financial Year
Source: World Federation of Exchanges, exchange websites July 2008 to June 2009
Minter Ellison is one of the largest full-service law firms in the
Asia Pacific region. With more than 280 partners and 1,000
legal staff working throughout Australia and in Hong Kong,
The People’s Republic of China, Indonesia, New Zealand
and the UK.
Minter Ellison has offices in Sydney, Melbourne, Brisbane,
Canberra, London, Shanghai, Hong Kong, Perth, Adelaide,
Darwin, the Gold Coast, Auckland and Wellington, with a
Beijing office opening in 2010. All offices operate as part of
the Minter Ellison Legal Group.
Minter Ellison supports leading industry and government
clients, delivering practical, commercial solutions and
helping clients achieve successful business outcomes.
The Company provides strategic and legal advice to
Fortune 500 companies and other large global corporations
in relation to their opportunities in the regions in which it
operates. Minter Ellison are key legal advisors to over half
the Australian top 100 companies by market capitalisation.
The Company’s focus is multi-disciplinary and industry
focused. Lawyers work across industry sectors, specialist
legal areas and offices to add value – offering clients the
benefits of their industry knowledge, business acumen and
global experience. The industry portfolios include:
• EnergyandResources
• FinancialServicesandInsurance
• Government
• HealthandAgeing
• MajorProjects
• Infrastructure
• Technology,MediaandCommunications.
Fai Peng Chen Partner
Minter Ellison Lawyers
25 Grenfell Street, Adelaide
South Australia, 5000
t +61 8 8233 5424
w www.minterellison.com
PricewaterhouseCoopers provides industry-focused
assurance, tax and advisory services for public and private
clients in Corporate Accountability, Risk Management,
Structuring and Mergers and Acquisitions and Performance
and Process Improvement.
The Company has 140 years of experience in assurance,
tax and advisory services. Its industry leadership and strong
client focus is demonstrated by the many awards and
accolades, including being named Best Large Accounting
Firm and Market Leader in the 2008 BRW Client Choice
Awards. For the last five years the Company has been
named as a leading tax adviser by International Tax Review.
Its focus on developing the best and brightest earned the
title of Best Graduate Intake Program at the 2006 Australian
HR Awards.
With a workforce of over 6,000 people in eight cities around
Australia, PricewaterhouseCoopers provides services to 90
of the ASX top 100 listed companies and 704 companies
of the IBIS top 1,000 – including many federal and state
government agencies.
Nelson Chen Associate Director
PricewaterhouseCoopers
Level 5, 201 Sussex Street, Sydney
New South Wales, 2000
t +61 2 8266 3011
w www.pwc.com/au
IPO Activity Supporter Profiles
Minter Ellison is proud to partner with the Australian Securities Exchange at the 2009 Small to Mid Caps Conference to help unite ASX listed companies with the Asian institutional investor community.
As one of the largest law firms in Asia, Minter Ellison is proud of its longstanding commitment to and achievements in the region. We have been working with clients in China since the 1980’s and were one of the first foreign law firms to establish a local presence.
Minter Ellison. Your trusted advisor for Australian Capital Markets.
What would you like to change?Have your say at whatwouldyouliketochange.com.au
Should we think big in a world that’s downsizing?
As one of the world’s top 10 listed exchange groups,
measured by its market capitalisation, 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 capitalisation of over A$1.3 trillion the
Australian cash 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 capitalisation.
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 a compulsory
superannuation (retirement) scheme, which is projected to
grow Australian Funds under Management (FUM) to over
A$3 trillion by 2016.
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 recognised centre 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 capitalisation doubling in the last ten
years. In the same period average market liquidity, at 106%
in 2008/9, has more than doubled.
About ASX
25
50
75
100
125
150
175
200
225
250
Global Index Comparison
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
S&P/ASX 200 Dow Jones FTSE NIKKEI Nasdaq
ASX equity market returns in the last decade have also
been impressive when compared with those of other
market performances, as the graph above demonstrates.
ASX is also among leading equity markets for initial
and follow-on capital raising. The World Federation of
Exchanges’ (WFE) data shows that ASX was ranked third
in the world for secondary capital raised by listed issuers in
the 2009 Financial Year.
ASX markets are driven by leading edge electronic trading,
settlement, and registry systems. This contributes to
superior liquidity and secondary market transaction costs
that are among the lowest in the world.
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.
FurtherInformation
Andrew MusgraveRegional Manager, Asia
t +61 2 9227 0211
Eddie GrieveManager, Listings and Capital Access
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 2009 ASX Limited ABN 98 008 624 691. All rights reserved 2009.