ALCHEMY RESOURCES LIMITED — Capital/Financing Update 2018

Jun 11, 2018

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ASX ANNOUNCEMENT

Non-Renounceable Rights Issue

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12 JUNE 2018

SUMMARY

CODE: ALY

• 1 for 4 non-renounceable rights issue at an offer price of 1.5c per share to raise up to $1.32M.

BOARD OF DIRECTORS

Mr Lindsay Dudfield Non-Executive Chairman

Mr Leigh Ryan Managing Director

• Funds will be used to undertake resource drilling and initial metallurgical test work at the West Lynn Ni-Co-Al Project in NSW, and to conduct surface electromagnetic (EM) survey and diamond drilling of high grade gold - base metal targets at Overflow in the Cobar Basin, NSW.

Ms Liza Carpene Non-Executive Director

Mr Anthony Ho Non-Executive Director

• West Lynn resource drilling aims to advance towards reporting a maiden resource estimate in accordance with the JORC Code (2012 Edition).

ISSUED CAPITAL

SHARES 352,335,585 OPTIONS 29,500,000 (Unlisted)

• Diamond drilling of a strong EM conductivity anomaly down plunge of high grade gold-silver targets at the Overflow Prospect planned to commence 4[th] Quarter 2018.

PROJECTS

WEST LYNN (earning up to 80%) LACHLAN (earning up to 80%) KARONIE (100%)

BRYAH BASIN (80-100%)

Alchemy Resources Limited ( ASX: ALY ) (“Alchemy”) (“Company”) is pleased to advise of a pro-rata non-renounceable Rights Issue (Offer) to all eligible shareholders to raise up to $1,321,258 (before costs). The Offer will be conducted on the basis of one (1) new fully paid ordinary share (Share) for every four (4) Shares held by eligible shareholders on 18 June 2018 at an issue price of 1.5c per Share.

Suite 8, 8 Clive Street WEST PERTH WA 6005

Phone: +61 8 9481 4400 Facsimile: +61 8 9481 4404 www.alchemyresources.com.au

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Alchemy is pleased to advise that it has secured the support of L Dudfield & Y Dudfield acting as trustees for the LG Dudfield Pension Fund, an entity controlled by Lindsay Dudfield, the Company’s Chairman, to partially underwrite the Offer (at nil cost) up to $200,000. Lindsay Dudfield, through his associated entities will also subscribe to his entitlements under the Offer.

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The funds raised in this Offer will be used for drilling activities within the nickel-cobalt-aluminium, and gold and base metal projects in NSW as outlined below:

• Following the addition of the West Lynn exploration licence to the Company’s Cobar Basin / Lachlan Project, the Company plans to conduct resource drilling in order to advance towards reporting a maiden resource estimate in accordance with the JORC Code (2012 Edition) at the West Lynn Project, which contains an Exploration Target of 15-30Mt @ 0.05-0.07% Co, 0.7-0.9% Ni. Initial metallurgical test work will also be conducted on the drill samples.

• Diamond drill testing of a strong airborne EM conductivity target down plunge of high-grade goldsilver-zinc intercepts returned from initial drilling at the Overflow Prospect is planned, subsequent to a confirmatory surface EM survey. Additional diamond drilling immediately beneath the Overflow Prospect high-grade mineralisation is also planned.

The issue price of $0.015 per new Share represents a 8.11% discount to the volume weighted average market price of Alchemy’s Shares for the fifteen (15) trading days to the close of trade on 8 June 2018, being the last trading day prior to this announcement. The new Shares issued under the Offer will rank equally with existing Shares. In addition to their entitlement, eligible shareholders may also apply for shortfall.

The Offer is made under a prospectus that has been lodged with ASIC and which is available on both the ASX website (www.asx.com.au) and on the Company’s website (www.alchemyresources.com.au). Eligible shareholders should consider the Prospectus in deciding whether to acquire Shares under the Offer, and complete the personalised Entitlement and Acceptance Application Form that will accompany the Prospectus.

The proposed timetable for the Issue is set out below:

The proposed timetable for the Issue is set out below:
Announcement of Entitlement Offer and Lodgement of Prospectus with ASX	12June 2018
Shares quoted on an “EX” basis	15 June 2018
Record Date for determining Entitlements	18 June 2018
Prospectus and Entitlement and Acceptance Form dispatched to Eligible Shareholders	21 June 2018
Offer opens for receipt of Applications
Closing Date of Entitlement Offer (5pm WST)	9 July 2018
Shares quoted on a deferred settlement basis	10 July 2018
Anticipated date for issue of Securities. Deferred settlement trading ends	16 July 2018
Trading of New Shares expected to commence	17 July 2018

The Directors may extend the Closing Date by giving at least three (3) business days’ notice to ASX prior to the Closing Date. As such the date the new Shares are expected to commence trading on ASX may vary. An Appendix 3B for the Offer is attached.

The Company has been successful in its application to participate in the Junior Mineral Exploration Incentive Scheme (JMEI) for the 2018 Financial Year and has applied to participate in the JMEI for the 2019 Financial Year. Eligible Shareholders who participate in the Offer may therefore be eligible to be issued with JMEI credits. Eligible shareholders should refer to the Prospectus for additional information.

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West Lynn Ni-Co-Al Project (EL8631)

In Mid-April 2018 Alchemy announced that the West Lynn (EL8631) had been added to the existing Alchemy / Heron Farm-In and Joint Venture Agreement (“Agreement”) in NSW (Refer to Alchemy ASX Announcement dated 13 April 2018) . Alchemy is required to spend an additional $1.5M on exploration prior to 30 May 2021 in order to earn an 80% interest in the West Lynn licence and the seven other NSW licences that are subject to the Agreement.

The West Lynn licence is located 10km north-west of Nyngan, NSW and covers an area of 100km[2] . The licence is located within a belt of ultramafic/mafic rocks that cut through central NSW, extending from the ACT to the Queensland border and host numerous Ni-Co (+Sc+Al+Fe) deposits such as Sunrise/Syerston (Clean TeQ Holdings Limited – ASX: CLQ ), Homeville (Collerina Cobalt Limited - ASX: CLL ), and the Nyngan Scandium deposit (Scandium International Mining Corp. – TSX: SCY ) just 11km south-west of EL8631 (Figures 1 & 2) .

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Figure 1 : West Lynn Ni-Co Project, Ni-Co+Sc occurrences, and NSW Serpentinite Belts over State-wide greyscale TMI aeromagnetic image

Recent historic drilling data validation and evaluation work completed by Alchemy, including a 3D inverse distance weighted block model, has given rise to an Exploration Target of 1530Mt @ 0.70.9% Ni, 0.050.07% Co for the West Lynn and Summervale prospects (Refer to Alchemy ASX Announcement dated 13 April 2018) . The Exploration Target is based on 105 Aircore and 29 RC drill holes totalling 6,300m at a nominal hole spacing of 100m x 100m (Summervale) and 100m x 350m (West Lynn), and a previous resource figure stated by Jervois Mining in 2012 for West Lynn (Refer to Jervois Mining Limited ASX announcement dated 30 July 2012) . Reporting rules prevent Alchemy from stating the Jervois West Lynn resource figure.

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The West Lynn / Summervale mineralisation is geologically, mineralogically, and potentially metallurgically similar to the Homeville Ni-Co-Al-Fe deposit 40km to the south and held by Collerina Cobalt Limited (ASX: CLL) (JORC 2004 indicated and inferred resource of 16.3Mt @ 0.05% Co, 0.93% Ni, 19% Fe, 3.1% Al - refer to Collerina Cobalt Limited company presentation dated 6 March 2018) (Figure 2 - left) . Collerina Cobalt is currently capitalised at approximately $53M.

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Figure 2 : Regional Ni-Co+Sc deposits and selected mining licences over State-wide TMI aeromagnetic image (left), recently acquired West Lynn licence (EL8631), existing JV licence (EL8318), selected previous drill intercepts, and previous drilling coloured by maximum downhole Co (ppm) over State-wide TMI aeromagnetic image (right)

Resource drilling at both the West Lynn and Summervale prospects is planned for the 4th Quarter 2018. The drilling aims to advance towards reporting a maiden resource estimate in accordance with the JORC Code (2012 Edition). The proposed drilling comprises 102 aircore drill holes for ~5,400m at West Lynn, and 56 holes for 3,100m at Summervale, with a 200m x 100m hole spacing to be used at both prospects (Figure 3) . Alchemy sees potential for significant expansion of the Ni-Co Exploration Target and subsequent resource by drilling untested sections of the 22km long West Lynn Serpentinite magnetic high.

Alchemy also recognised that limited scandium (Sc) analysis had been conducted on previous drill samples, and has recently obtained and submitted approximately 245 laboratory pulps from previous drilling at West Lynn and Summervale for Sc, Al and Fe analysis (where missing), and as check samples on previous Ni and Co analyses.

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Figure 3 : Summervale and West Lynn cross-sections with previous drilling (coloured by Ni% & Co ppm) (left), and plans of planned resource drilling and previous drilling (coloured by Ni% & Co ppm) over State-wide TMI aeromagnetic image (right).

Drilling is to commence as soon as statutory permissions have been received and drill site access prepared. All holes are located on freehold land.

Overflow Gold-Silver Project

The Overflow Project also forms part of the Alchemy / Heron Farm-In and Joint Venture Agreement with Alchemy earning an 80% interest. In March 2017 Alchemy announced excellent results from the Company’s initial diamond drill hole (OFDD-001) at the Overflow gold-silver prospect in the Cobar Basin, NSW, including 18m @ 2.1g/t Au & 111g/t Ag from 245m and 3m @ 7.3g/t Au & 43g/t Ag from 286m (Refer to Alchemy ASX Announcement dated 29 March 2017) .

Alchemy plans to complete a surface EM survey over the strong airborne EM conductivity anomaly identified down plunge of the high grade mineralisation to better define the target and, subject to geophysical modelling, complete a deep diamond hole in order to test the anomaly at approximately 350m below surface. The Company also plans to complete an additional diamond drill hole in order to test for high grade gold-base metal mineralisation immediately down dip of the OFDD-001 intercept (Figure 4) .

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----- Start of picture text -----

18m @ 2.1g/t Au,
111g/t Ag, 1.1%
Zn from 245m 3m @ 7.3g/t Au, 43g/t
Ag, 4.6% Zn, 4.6% Pb
from 286m
Open Down Plunge
Strong EM anomaly
down plunge of high
grade intercepts
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Figure 4 : Overflow Prospect 3D view looking down to the NW showing zone of high grade mineralisation, historic drilling (traces coloured by Au and Cu grades), OFDD001 and planned deep diamond drill holes (magenta lines) over VTEM conductivity slices (150m, 350m and 550m below surface).

The diamond holes are planned to commence in the 4[th] quarter of 2018, subsequent to the execution of a recently negotiated Native Title Access Agreement and other requisite approvals.

For further information please contact:

Mr Leigh Ryan Managing Director Telephone: +61 8 9481 4400 Email: leigh@alchemyresources.com.au

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COMPETENT PERSONS STATEMENT

The information in this report that relates to Exploration Results and the Exploration Target is based on information compiled by Mr Leigh Ryan, who is the Managing Director of Alchemy Resources Limited and holds shares and options in the Company. Mr Ryan is a Member of the Australian Institute of Geoscientists and has sufficient experience of relevance to the styles of mineralisation and the types of deposits under consideration, and to the activities undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (‘JORC Code 2012’). Mr Ryan consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

Alchemy Resources confirms that it is not aware of any new information or data that materially affects the information included in the previous market announcement/s referred to.

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Appendix 3B New issue announcement

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

Appendix 3B

New issue announcement, application for quotation of additional securities and agreement

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 01/07/96 Origin: Appendix 5 Amended 01/07/98, 01/09/99, 01/07/00, 30/09/01, 11/03/02, 01/01/03, 24/10/05, 01/08/12, 04/03/13

Name of entity

ALCHEMY RESOURCES LIMITED ABN 17 124 444 122

ABN

We (the entity) give ASX the following information.

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).

1 +Class of+securities issued or to be issued 2 Number of+securities issued or to be issued (if known) or maximum number which may be issued 3 Principal terms of the+securities (e.g. if options, exercise price and expiry date; if partly paid +securities, the amount outstanding and due dates for payment; if +convertible securities, the conversion price and dates for conversion)	Fully Paid Ordinary Shares (Shares)
	Up to 88,083,896 Shares
	The Shares rank equally with existing fully paid ordinary shares.

• See chapter 19 for defined terms.

Appendix 3B Page 1

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Appendix 3B New issue announcement

4 Do the[+] securities rank equally in Yes all respects from the[+] issue date with an existing[+] class of quoted +securities? If the additional[+] securities do not rank equally, please state:  the date from which they do  the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment  the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment

5 Issue price or consideration 1.5 cents per Share 6 Purpose of the issue Pro-rata non-renounceable rights issue to fund (If issued as consideration for the an exploration program on the recently acquired acquisition of assets, clearly West Lynn Nickel-Cobalt Project (including identify those assets) reporting a maiden resource estimate in accordance with the JORC Code (2012 Edition) and undertaking initial metallurgical test work) and to fund ground geophysics and further drilling at the Overflow Project, as well as for general working capital purposes. 6a Is the entity an[+] eligible entity that Yes has obtained security holder approval under rule 7.1A? If Yes, complete sections 6b – 6h in relation to the[+] securities the subject of this Appendix 3B , and comply with section 6i 6b The date the security holder 23 November 2017 resolution under rule 7.1A was passed 6c Number of +securities issued Nil without security holder approval under rule 7.1 6d Number of[+] securities issued with Nil security holder approval under rule 7.1A

• See chapter 19 for defined terms.

Appendix 3B Page 2

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Appendix 3B New issue announcement

6e Number of[+] securities issued with Nil security holder approval under rule 7.3, or another specific security holder approval (specify date of meeting) 6f Number of[+] securities issued under Up to 88,083,896 an exception in rule 7.2 6g If[+] securities issued under rule Not applicable 7.1A, was issue price at least 75% of 15 day VWAP as calculated under rule 7.1A.3? Include the +issue date and both values. Include the source of the VWAP calculation. 6h If[+] securities were issued under Not applicable rule 7.1A for non-cash consideration, state date on which valuation of consideration was released to ASX Market Announcements 6i Calculate the entity’s remaining See Annexure 1 issue capacity under rule 7.1 and rule 7.1A – complete Annexure 1 and release to ASX Market Announcements 7 +Issue dates 16 July 2018 Note: The issue date may be prescribed by ASX (refer to the definition of issue date in rule 19.12). For example, the issue date for a pro rata entitlement issue must comply with the applicable timetable in Appendix 7A. Cross reference: item 33 of Appendix 3B. Number +Class 8 Number and +class of all +securities quoted on ASX Up to Fully paid ordinary shares ( including the[+] securities in section 440,419,481 2 if applicable)

• See chapter 19 for defined terms.

Appendix 3B Page 3

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Appendix 3B New issue announcement

9 Number and +class of all +securities not quoted on ASX (_including_the+securities in section 2 if applicable) 10 Dividend policy (in the case of a trust, distribution policy) on the increased capital (interests) art 2 - Pro rata issue 11 Is security holder approval required? 12 Is the issue renounceable or non- renounceable? 13 Ratio in which the+securities will be offered 14 +Class of+securities to which the offer relates 15 +Record date to determine entitlements 16 Will holdings on different registers (or subregisters) be aggregated for calculating entitlements? 17 Policy for deciding entitlements in relation to fractions 18 Names of countries in which the entity has security holders who will not be sent new offer documents Note: Security holders must be told how their entitlements are to be dealt with. Cross reference: rule 7.7. 19 Closing date for receipt of acceptances or renunciations	Number	+Class
	7,500,000 4,000,000 4,000,000 4,000,000 10,000,000	Options exercisable at: $0.10 on or before 31 May 2019 $0.04 on or before 8 Jan 2021 $0.08 on or before 8 Jan 2021 $0.12 on or before 8 Jan 2021 $0.05 on or before 15 Apr 2021
	No dividend policy is currently in place as the Company is involved only in exploration
	No
	Non-renounceable
	1 new Share for every 4 Shares held
	Fully paid ordinary shares
	18 June 2018
	Not applicable
	Fractional entitlements will be rounded up
	All countries except Australia and New Zealand
	9 July 2018

Part 2 - Pro rata issue

• See chapter 19 for defined terms.

Appendix 3B Page 4

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Appendix 3B New issue announcement

20 Names of any underwriters 21 Amount of any underwriting fee or commission 22 Names of any brokers to the issue 23 Fee or commission payable to the broker to the issue 24 Amount of any handling fee payable to brokers who lodge acceptances or renunciations on behalf of security holders 25 If the issue is contingent on security holders’ approval, the date of the meeting 26 Date entitlement and acceptance form and offer documents will be sent to persons entitled 27 If the entity has issued options, and the terms entitle option holders to participate on exercise, the date on which notices will be sent to option holders 28 Date rights trading will begin (if applicable) 29 Date rights trading will end (if applicable) 30 How do security holders sell their entitlements_in full_through a broker? 31 How do security holders sell_part_of their entitlements through a broker and accept for the balance?	L Dudfield & Y Dudfield as trustees for LG Dudfield Pension Fund
	Nil
	Not applicable
	Not applicable
	Not applicable
	Not applicable
	21 June 2018
	12 June 2018
	Not applicable
	Not applicable
	Not applicable
	Not applicable

• See chapter 19 for defined terms.

Appendix 3B Page 5

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Appendix 3B New issue announcement

• 32 How do security holders dispose of Not applicable

• their entitlements (except by sale through a broker)?

• 33 +Issue date 16 July 2018

Part 3 - Quotation of securities

You need only complete this section if you are applying for quotation of securities

• 34 Type of[+] securities ( tick one )

• (a) +Securities described in Part 1

• (b)[All other ][+][securities ]

Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities

Entities that have ticked box 34(a)

Additional securities forming a new class of securities

Tick to indicate you are providing the information or documents

Not applicable

35 If the[+] securities are[+] equity securities, the names of the 20 largest holders of the additional[+] securities, and the number and percentage of additional[+] securities held by those holders 36 If the[+] securities are[+] equity securities, a distribution schedule of the additional +securities setting out the number of holders in the categories 1 - 1,000 1,001 - 5,000 5,001 - 10,000 10,001 - 100,000 100,001 and over 37 A copy of any trust deed for the additional[+] securities

• See chapter 19 for defined terms.

Appendix 3B Page 6

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Appendix 3B New issue announcement

Entities that have ticked box 34(b)

38 Number of[+] securities for which +quotation is sought 39 +Class of +securities for which quotation is sought 40 Do the[+] securities rank equally in all respects from the[+] issue date with an existing[+] class of quoted[+] securities? If the additional[+] securities do not rank equally, please state:  the date from which they do  the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment  the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment 41 Reason for request for quotation now Example: In the case of restricted securities, end of restriction period (if issued upon conversion of another[+] security, clearly identify that other[+] security) Number +Class 42 Number and[+] class of all[+] securities quoted on ASX ( including the +securities in clause 38)

• See chapter 19 for defined terms.

Appendix 3B Page 7

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Appendix 3B New issue announcement

Quotation agreement

• 1 +Quotation of our additional +securities is in ASX’s absolute discretion. ASX may quote the[+] securities on any conditions it decides.

• 2 We warrant the following to ASX.

• The issue of the[+] securities to be quoted complies with the law and is not for an illegal purpose.

• There is no reason why those[+] securities should not be granted[+] quotation.

• An offer of the[+] securities for sale within 12 months after their issue will not require disclosure under section 707(3) or section 1012C(6) of the Corporations Act.

Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be able to give this warranty

• Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any[+] securities to be quoted and that no-one has any right to return any[+] securities to be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that the[+] securities be quoted.

• If we are a trust, we warrant that no person has the right to return the +securities to be quoted under section 1019B of the Corporations Act at the time that we request that the[+] securities be quoted.

• 3 We will indemnify ASX to the fullest extent permitted by law in respect of any claim, action or expense arising from or connected with any breach of the warranties in this agreement.

• 4 We give ASX the information and documents required by this form. If any information or document is not available now, we will give it to ASX before +quotation of the +securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete.

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Sign here: ................................................... ( ~~Director~~ /Company Secretary)

Date: 12 June 2018

Print name: Bernard Crawford

• See chapter 19 for defined terms.

Appendix 3B Page 8

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Appendix 3B New issue announcement

Appendix 3B – Annexure 1

Calculation of placement capacity under rule 7.1 and rule 7.1A for eligible entities

Introduced 01/08/12 Amended 04/03/13

Part 1 – Note this may change upon completion of the rights issue

Rule 7.1 – Issues exceeding 15% of capital

Step 1: Calculate “A”, the base figure from which the placement capacity is calculated

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----- Start of picture text -----

Insert number of fully paid [+] ordinary 342,335,585
securities on issue 12 months before the
+ issue date or date of agreement to issue
Add the following:
• Number of fully paid [+] ordinary securities Nil
issued in that 12 month period under an
exception in rule 7.2
• Number of fully paid [+] ordinary securities
issued in that 12 month period with
shareholder approval
• Number of partly paid [+] ordinary
securities that became fully paid in that
12 month period
Note:
• Include only ordinary securities here –
other classes of equity securities cannot
be added
• Include here (if applicable) the securities
the subject of the Appendix 3B to which
this form is annexed
• It may be useful to set out issues of
securities on different dates as separate
line items
Subtract the number of fully paid [+] ordinary Nil
securities cancelled during that 12 month
period
“A” 342,335,585
----- End of picture text -----

• See chapter 19 for defined terms.

Appendix 3B Page 9

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Appendix 3B New issue announcement

Step 2: Calculate 15% of “A”

Step 2: Calculate 15% of “A”
“B”	0.15
	[Note: this value cannot be changed]
Multiply“A” by 0.15	51,350,338
Step 3: Calculate “C”, the amount of placement capacity under rule
7.1 that has already been used
Insertnumber of+equity securities issued	10,000,000 Shares (16 April 2018)
or agreed to be issued in that 12 month period_not counting_those issued:	10,000,000 Options (16 April 2018)
• Under an exception in rule 7.2
• Under rule 7.1A
• With security holder approval under rule
7.1 or rule 7.4
Note:
• This applies to equity securities, unless
specifically excluded – not just ordinary
securities
• Include here (if applicable) the securities
the subject of the Appendix 3B to which
this form is annexed
• It may be useful to set out issues of
securities on different dates as separate
line items

7.1 that has already been used
Insertnumber of+equity securities issued	10,000,000 Shares (16 April 2018)
or agreed to be issued in that 12 month period_not counting_those issued:	10,000,000 Options (16 April 2018)
• Under an exception in rule 7.2
• Under rule 7.1A
• With security holder approval under rule
7.1 or rule 7.4
Note:
• This applies to equity securities, unless
specifically excluded – not just ordinary
securities
• Include here (if applicable) the securities
the subject of the Appendix 3B to which
this form is annexed
• It may be useful to set out issues of
securities on different dates as separate
line items
“C”	20,000,000
Step 4: Subtract “C” from [“A” x “B”] to calculate remaining
placement capacity under rule 7.1
“A” x 0.15	51,350,338
Note: number must be same as shown in
Step 2

placement capacity under rule 7.1
“A” x 0.15	51,350,338
Note: number must be same as shown in
Step 2
Subtract“C”	20,000,000
Note: number must be same as shown in
Step 3
Total[“A” x 0.15] – “C”	31,350,338
	[Note: this is the remaining placement
	capacity under rule 7.1]

• See chapter 19 for defined terms.

Appendix 3B Page 10

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Appendix 3B New issue announcement

Part 2 – Note this may change upon completion of the rights issue

Rule 7.1A – Additional placement capacity for eligible entities

Step 1: Calculate “A”, the base figure from which the placement capacity is calculated

“A” 342,335,585 Note: number must be same as shown in Step 1 of Part 1

Step 2: Calculate 10% of “A”

Part 2 – Note this may change upon completion of the rights issue	Part 2 – Note this may change upon completion of the rights issue
Rule 7.1A – Additional placement capacity for eligible entities
Step 1: Calculate “A”, the base figure from which the placement capacity is calculated
“A” Note: number must be same as shown in Step 1 of Part 1	342,335,585
Step 2: Calculate 10% of “A”
“D”	0.10 Note: this value cannot be changed
Multiply“A” by 0.10	34,233,559
Step 3: Calculate “E”, the amount of placement capacity under rule 7.1A that has already been used
Insertnumber of+equity securities issued or agreed to be issued in that 12 month period under rule 7.1A Notes: • This applies to equity securities – not just ordinary securities • Include here – if applicable – the securities the subject of the Appendix 3B to which this form is annexed • Do not include equity securities issued under rule 7.1 (they must be dealt with in Part 1), or for which specific security holder approval has been obtained • It may be useful to set out issues of securities on different dates as separate line items	Nil
“E”	Nil

• See chapter 19 for defined terms.

Appendix 3B Page 11

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Appendix 3B New issue announcement

Step 4: Subtract “E” from [“A” x “D”] to calculate remaining placement capacity under rule 7.1A

Step 4: Subtract “E” from [“A” x “D”] to calculate remaining placement capacity under rule 7.1A	Step 4: Subtract “E” from [“A” x “D”] to calculate remaining placement capacity under rule 7.1A
“A” x 0.10 Note: number must be same as shown in Step 2	34,233,559
Subtract“E” Note: number must be same as shown in Step 3	Nil
Total[“A” x 0.10] – “E”	34,233,559 Note: this is the remaining placement capacity under rule 7.1A

• See chapter 19 for defined terms.

Appendix 3B Page 12

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