Investor Information and Annual Reports
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2009 Highlights:
Resources
The first, and most critical aspect, in achieving recognition as a major, world class mining project is the completion of a resource inventory to international standards. We understand that at present Kvanefjeld is the largest compliant (JORC) resource of rare earths in the world. In addition Kvanefjeld contains substantial JORC compliant resources of Uranium, Zinc and Sodium Fluoride.
Scoping and feasibility
Following on from metallurgical studies in 2008 and 2009 the Company is focused on mining and engineering studies, for inclusion into a pre-feasibility study, initial results of which will be out late in 2009.
Rare Earths
Given its importance Kvanefjeld, as the largest JORC compliant rare earth project has naturally gained prominence. This is especially so as its magmatic source means we have both light and heavy rare earths in our resource inventory.
Corporate
We are continuing to refine our plans for listing in a major overseas jurisdiction which were delayed due to the global financial crisis. Given the relatively quick rebound in the demand for commodities and the exceptional demand for rare earths the Company is reviewing the opportunity this new situation presents and we are pleased to have advised shareholders on 18 September 2009 of the appointment of Evolution Securities Limited, a major UK stockbroking firm, to handle potential capital raisings and other matters that may arise in the future.
CONTENTS::
Section 1
- Company Focus 1 | 4
- Letter from the Chairman 1 | 6
- Review of Operations 1 | 8
- Rare Earths Market Overview 1 | 18
Section 2
- Corporate Governance Statement 2 | 1
- Directors Report 2 | 4
- Audit Independence Declaration 2 | 23
- Directors Declaration 2 | 26
- Income Statement 2 | 27
- Balance Sheets 2 | 28
- Statement of Change in Equity 2 | 29
- Statement of Cash Flows 2 | 31
- Notes to the Financial Statements 2 | 32
- ASX additional information 2 | 67
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