The Company is building a portfolio of assets focusing on the fluorspar sector. The strategy is to acquire a meaningful share of the international fluorspar market in order to be a supplier of choice to American and European customers of fluorspar and to provide such customers with security of supply, variety of product quality and potential freight advantages from multiple producing plants in different geographic locations. As announced on 24 December 2010, the Company has agreed to acquire interests in two operating fluorspar companies from Firebird (comprising both Firebird Global Master Fund, Ltd and Firebird Global Master Fund II, Ltd); namely, a controlling interest in Johannesburg Stock Exchange listed, Sallies Limited ("Sallies") (the "Sallies Acquisition") and a 20 per cent. interest in Kenya Fluorspar Company Limited ("KFC") (the "KFC Acquisition"), as well as certain associated debt. Upon completion of the Sallies Acquisition, the Company will be required to make an offer to the minority shareholders of Sallies and the minority holders of Sallies Debentures and any holder of options to subscribe for Sallies shares, which, if successful, will lead to a 100 per cent. ownership interest in Sallies. The agreements relating to the Sallies Acquisition and the KFC Acquisition (the "Acquisition Agreements") were entered into on 23 December 2010 and have been subsequently varied so that each is conditional only upon the admission of the Enlarged Share Capital to trading on AIM. A general meeting of shareholders has been convened for 31 August 2011 to approve, inter alia, the Acquisition Agreements and the change of the Company's name to Fluormin plc.

Sallies operates the Witkop mine in South Africa. Witkop has the capacity to produce approximately 135,000 tpa of acidspar for sale to international markets. The Group made a facility available to Sallies in February 2011 to recommence mining operations after a period of approximately 18 months following the 2008 global financial crisis, during which the mine was placed on care and maintenance owing to depressed fluorspar prices. Prices have since improved permitting mining operations to recommence. The mine plant has been operating and producing fluorspar since 28 March 2011 and had produced approximately 27,995 t as at 30 June 2011.

KFC operates the producing fluorspar mine located at Kimwarer, Kenya. KFC has the capacity to produce approximately 80,000 to 100,000 tpa of acidspar and metallurgical fluorspar for sale to international markets. Following the global financial crisis, KFC temporarily placed its mine on care and maintenance, but the mine recommenced operations on 26 September 2010.

Listing exchange: AIM

Expected first day of trading: 2011-09-15

Expected money raised: TBC