PEAKO LIMITED — Capital/Financing Update 2009

Nov 29, 2009

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27 November 2009

Mr Wade Baggott Australian Stock Exchange Ltd 2 The Esplanade Perth WA 6000

Dear Sir

Raisama Limited IPO – Update

Raisama Limited (RAI) has closed the its IPO offer and have completed the allotment and issue of 35,000,000 ordinary fully paid shares at an issue price of 35 cents each.

The following is an up dated statement of commitments based on the funds raised under the offer:

Pre-Offer cashTotal raised in the OfferTotal Funds AvailableExploration year 1Exploration year 2Vendor considerationRepayment of loansNew project generation and acquisitionExpenses of the OfferAdministration and compliance costs year 1Administration and compliance costs year 2Unallocated working capitalTotal Funds Applied	934,00012,250,000
	13,184,000
	4,250,0005,200,000150,000130,000300,0001,000,000670,000670,0001,114,000
	13,184,000

As the IPO offer was fully subscribed there has been no change to the pro-forma post IPO balance sheet as set out on page 58 of the prospectus dated 4 November 2009.

Raisama Ltd ABN 79 131 843 868 Suite 2- 5 Ord Street West Perth WA 6005 T +61 8 6313 5114 F +61 8 9324 2977 E info@raisama.com.au W www.raisama.com.au

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In the period since the Company lodged its prospectus, 4 November 2009, and the date of this letter there have been no material developments concerning the granting of the Company’s tenement applications that are yet to be granted. These applications continue to proceed through the normal application approval process.

Further the two Kyrgyz licences held by RAI (“the Licences”) have an expiry date of 31[st] December 2010 and the Company expects that the Licences will be renewed in the normal course. In the event that the Licences are not renewed, or there is some other occurrence beyond the control of the Company which prevents the Company fulfilling the expenditure commitments delineated in the Company’s prospectus on the Licences, then the Company will apportion the un-spent portion of that expenditure to the granted tenements as listed in the prospectus, or owned by the Company at the time. The Company currently has no indication that the Licences will not be renewed, neither is it currently aware of any circumstance that will prevent it expending the exploration funds it has allotted to the Licences in the prospectus.

The terms and conditions of director/management options on issue as at the date of this letter are as detailed on pages 77 and 78 of the Company’s prospectus dated 4 November 2009.

For details of the extent that the Company has followed the best practice recommendations set by the ASX Corporate Governance Council and its reasons for departure from those principles are outlined on pages 22 to 24 of the Company’s prospectus dated 4 November 2009.

If you require clarification of the above or further information please contact me on 6313 5144 or at dberrie@raisama.com.au.

Yours truly, Raisama Limited

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David Berrie

Managing Director

Raisama Ltd ABN 79 131 843 868 Suite 2- 5 Ord Street West Perth WA 6005 T +61 8 6313 5114 F +61 8 9324 2977 E info@raisama.com.au W www.raisama.com.au