METRO MINING LIMITED — M&A Activity 2014

Mar 17, 2014

HopgoodGanim

18 March 2014

Australian Securities Exchange Company Announcement Platform By facsimile: 1300 135 638

Our Ref: 1455450 - Katherine Hammond

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Dear Sir/Madam

MetroCoal Limited ACN 117 763 443 - On-Market Takeover Bid for Cape Alumina Limited ACN 107 817 694 - Announcement

We are the solicitors for MetroCoal Limited ACN 117 763 443 (Company).

The Company today announced an on-market takeover bid for all of the fully paid ordinary shares in Cape Alumina Limited ACN 107 817 694 (Cape or Target) which are not already held by the Company (or its Associates) under Part 6.5 of the Corporations Act 2001 (Cth) (Corporations Act) (Takeover Bid).

Please find attached, in accordance with item 2 of Section 635(1) of the Corporations Act, the announcement of the Takeover Bid by the Company's Broker.

Immediately following this facsimile, we will send through a facsimile attaching:

• in accordance with item 3 of Section 635(1) of the Corporations Act, a copy $(a)$ of the Company's Bidder's Statement dated on or about 18 March 2014 in connection with the Takeover Bid; and
• in accordance with Section 671B(1)(c) of the Corporations Act, ASIC Form $(b)$ 604 "Notice of change of interests of substantial holder" for the Company.

Yours faithfully

HopgoodGanim

Contact Katherine Hammond Associate T 07 3024 0343 F 07 3024 0043 E k.hammond@hopgoodganim.com.au

Partner responsible: Michael Hansel

BRISBANE

Level 8, Waterfront Place 1 Eagle Street Brisbane Qld 4000 Australia

PO Box 7822, Waterfront Place Brisbane Qld 4001 Australia

ABN: 54 105 489 661

BRISBANE

T +61 7 3024 0000 F +61 7 3024 0300

PFRTH

$T + 61892118111$ F +61 8 9226 1696

www.hopgoodganim.com.au

Wilson HTM

Level 38 Riparian Plaza 71 Eagle Street Brisbane Qld 4000 GPO Box 240 Brisbane Qld 4001 Telephone 07 3212 1333 Facsimile 07 3212 1399

www.wilsonhtm.com.au

18 March 2014

The Company Announcements Office, ASX Limited

For immediate release to the market

MetroCoal Limited launches on-market cash offer to acquire Cape Alumina Limited

Wilson HTM Ltd ACN 010 529 665 (Wilson HTM), in its capacity as an on-market broker, announces that during the period commencing at 10.00am (Sydney time) on 3 April 2014 and ending at 4.00pm (Sydney time) on 5 May 2014 (Offer Period) MetroCoal Limited (ASX Code: MTE) (MTE), is making an on-market takeover offer (Offer) for all of the shares (that exist or will exist at any time during the Offer Period) in Cape Alumina Limited (Cape) (ASX code: CBX). Under the terms of the Offer, MetroCoal is offering 0.6 cents cash for every Cape share held.

Acquisition from Announcement

MetroCoal has appointed Wilson HTM to act as its on-market broker. Wilson HTM will purchase shares in Cape on its behalf on-market at a price that is not more than the Offer price from the time of this announcement prior to the opening date of the Offer.

Details of the Offer

• The Offer is an unconditional cash offer of 0.6 cents per Cape share;
• The Offer price may be increased and the Offer Period extended in accordance with the Corporations Act;
• The Offer can be accepted by instructing your broker to sell your shareholding to MetroCoal through its broker for the Offer, Wilson HTM;
• The Offer can be accepted by selling on the Australian Securities Exchange (ASX), allowing three days for receipt of cash.

Timetable

Announcement Date of Offer:	Tuesday 18 March 2014
Lodgement Date:	Tuesday 18 March 2014
Bidder's Statement Date:	Tuesday 18 March 2014
Date of Offer:	Thursday 3 April 2014
Offer Period commences:	Thursday 3 April 2014, 10.00am (Sydney time)
Offer Period ends (unless extended):	Monday 5 May 2014, 4,00pm (Sydney Time)

These dates may vary as permitted under the Corporations Act. Any changes to the above timetable will be announced to the ASX.

Advisors

HopgoodGanim is acting as legal counsel to MetroCoal.

Further Information

Wilson HTM Mark Connors- Investment Adviser Lachlan McLean- Investment Adviser Phone: +61 (0)7 3212 1333

MetroCoal Stephen Everett Chairman MetroCoal Limited Phone: +61 (0)7 3249 3055

Mike O'Brien Chief Executive Officer MetroCoal Limited Phone: +61 (0)7 3249 3045

Philippa Abbott Company Secretary Wilson HTM Ltd ACN 010 529 665

Signed for and on behalf of Wilson HTM Ltd:

Wilson HTM Ltd ABN 68 010 529 665 Which is the first to the case of the case
Exchange Limited, the Australian Stock
Exchange Limited,
Principal Member of the Financial Planning
Association of Australia, . Vermannen und massala.
Australian Financial Services Licence
Näheber 238375 -

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