ORBMINCO LIMITED — AGM Information 2007

Nov 27, 2007

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28 NOVEMBER 2007 ASX ANNOUNCEMENT

CHAIRMAN’S ADDRESS 2007 ANNUAL GENERAL MEETING

Ladies and Gentlemen

Welcome to the third annual general meeting of Monaro Mining.

It has been an exciting, if volatile year, for the sector in which Monaro operates – the uranium sector. Wild enthusiasm for anything related to uranium provided us with spectacular stock market performances, the likes of which had not been seen since the dotcom bubble. Our own shares surged to $2.70, providing a truly spectacular return for those who had subscribed to shares in the IPO at 20¢, a little over two years ago.

The fact that you are sitting here, today, at this meeting, suggests that you probably didn’t sell your shares at the peak (or that you have bought them since then). On one hand this may be unfortunate, but on the other hand, your directors appreciate the faith that you continue to hold in the Company.

When we first launched Monaro we espoused a strong motto; “ The Shareholders Must Win”. That motto stands behind everything that the directors do for Monaro. Recently we have been adopted a new motto (but without abandoning the credo of our earlier cry). The message we want to get across to the investment community is that we are “ Building a Serious Uranium Company ”. The recently announced merger with Uranium King Limited is an important stepping stone in the building of that serious uranium company.

The uranium sector suffers from a low knowledge level and a thin skill base, from exploration geologists through to process engineers. Investors in the sector for the most part have been acting very naively as they seek to profit from irrationally performing uranium stocks. There has been no quality control in the market place. There has been a steep learning curve for everyone involved in the sector.

With increasing knowledge investors are learning to be more discerning and they are starting to think twice before jumping into the latest hot uranium story. We believe that this transition to more intelligent stock selection will lead to an increasing recognition of the merits of Monaro.

The major initiatives of your Company over the past year relate more to the corporate front as we position ourselves for growth. We have announced that we are seeking an ADR listing in the USA, to give us access to US investors. We are currently in the process of applying for a listing on the AMEX market. Admittedly this is an unusual move as most Australian companies chose to go to Canada or to AIM in London. We have chosen the AMEX market because we feel that US investors have not been exposed to the uranium sector in a big way. It is a market waiting to be tapped. Australia and Canada have been saturated with uranium plays, and these markets have been noted for hot trading of stocks.

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As the great uranium bull market enters its second phase, that of consolidation ahead of long term growth, we believe that we are more likely to find “sticky” shareholders in US markets, especially if we make the effort to communicate with, and educate, the investment community as to our merit and our integrity. The US projects of Uranium King dovetail nicely with the ADR listing. We will have projects in the backyard of American investors. They will be able to see first hand the reality of our projects.

Whilst growth of a company can be achieved organically, through exploration, development and expansion, that can be a long-winded process. We need to be prepared to take corporate initiatives to speed up the growth curve. The merger with Uranium King Limited is the first step in this process. We are highly enthused by what this merger is going to deliver to both companies. The two key projects of UKL, Apex-Lowboy and Rio Puerco, give Monaro the opportunity to be amongst the first pack of new uranium producers. We should be able to generate cash flows well ahead of almost every other hopeful out there. That will give us cash and kudos, and a re-rating of the stock price as we approach production.

A larger company will give shareholders the benefits of a more geographically diversified uranium portfolio, with a pipeline of projects ranging from grass roots to pre-development. It will give us a greater number of shareholders and make us more acceptable to institutional investors. The liquidity of our shares in the market place will improve. We will have a stronger technical team at a time when personnel in the sector are scarce. All this leads to less risk from a better-balanced company, with a more significant critical mass, and more options on the upside.

We look forward to the coming year with great enthusiasm. We hope that you will continue to be there with us as we Build a Serious Uranium Company.

FURTHER INFORMATION

For further information please contact Warwick Grigor, Chairman, on +61 2 9247 0077 or Mart Rampe, Managing Director, on +61 2 4647 9566.

ABOUT MONARO MINING NL – “Building a Serious Uranium Company”

Monaro Mining NL is an Australian-based international exploration and development company focusing on uranium. Its major assets include a highly prospective set of tenements in the Central Asian Kyrgyz Republic and Australia. In addition, gold and base-metal projects are located in NSW, Australia. Monaro aims to grow both through project acquisition and corporate initiatives such as the recently announced merger proposal with Uranium King Limited, which will provide the opportunity for near term uranium production in the USA. The shares are listed on the Australian Stock Exchange, the Frankfurt Stock Exchange and it is progressing with an ADR listing in the USA.