Activities Report for the quarter ended 31 March 2016

Completed first drawdown of the $162.5 million secured finance facility (“Facility”), with an initial amount of $133.2 million drawn
The retail component of the entitlement offer raised $3.5 million, with Resource Capital Funds (“RCF”) and International Finance Corporation (“IFC”) subscribing for 48.7 million
($1.57 million) and 154.7 million ($5.0 million) shortfall shares respectively under their subscription agreements with the company
Mr Michael Griffiths appointed as Managing Director and Chief Executive Officer
Mr Ian Kerr appointed as an Independent Non-Executive Director