VOLT RESOURCES LIMITED — Capital/Financing Update 2014

Mar 31, 2014

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!

MOZAMBI!COAL!LIMITED!

ABN!

28!106!353!253!

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! A:!Ordinary!Shares! be!issued! B:!Options! 2! Number!of![+] securities!issued!or! A:!51,990,331! to! be! issued! (if! known)! or! B:!24,995,166! maximum! number! which! may! be!issued! 3! Principal! terms! of! the! A:!Fully!Paid!Ordinary!Shares! +securities! (e.g.! if! options,! B:! Unlisted! options! exercisable! at! 2! cents! exercise!price!and!expiry!date;!if!partly! paid! +securities,! the! per!share!on!or!before!31!December!2017 amount! outstanding! and! due! dates! for! payment;! if! +convertible! securities,! the! conversion! price! and! dates! for! conversion)!

+!See!chapter!19!for!defined!terms.!

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• 4! Do! the![+] securities! rank! equally! in! all! respects! from! the![+] issue! date! with! an! existing![+] class! of! quoted![+] securities?!

A:!Yes!

B:! Upon! exercise,! each! share! issued! will! rank! equally! with! existing! fully! paid! ordinary!shares!

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!

Issues!relate!to!three!separate!allotments!as! follows:!

1.	30,000,000 shares and 15,000,000
	options
2.	2,000,000shares
3.	19,990,331 shares and 9,995,166
	options
Issue price / consideration for the
allotmentswereasfollows:
1. Issued as consideration for the
	BlackallCapitalacquisitionpursuant
	to shareholder approval granted on
	27February2014.
2.	Issued as equity`settled
	considerationforservicesperformed
	byaconsultant.
3.	1 cent per share (with a free
	attachingoptionona1:2basis).

+!See!chapter!19!for!defined!terms.!

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6 Purposeoftheissue (If issued as consideration for theacquisitionofassets,clearly identifythoseassets) 6a Is the entity an +eligible entity that has obtained security holderapprovalunderrule7.1A? IfYes,completesections6b–6h in relation to the +securities the subjectofthisAppendix3B,and complywithsection6i 6b The date the security holder resolution under rule 7.1A was passed 6c Number of +securities issued withoutsecurityholderapproval underrule7.1 6d Number of +securities issued with security holder approval underrule7.1A 6e Number of +securities issued with security holder approval under rule 7.3, or another specificsecurityholderapproval (specifydateofmeeting)	Issuesrelatetothreeseparateallotmentsas follows: 1. 30,000,000 shares and 15,000,000 options 2. 2,000,000shares 3. 19,990,331 shares and 9,995,166 options Issue price / consideration for the allotmentswereasfollows: 1. Issued as consideration for the BlackallCapitalacquisitionpursuant to shareholder approval granted on 27February2014. 2. Issued as equity`settled considerationforservicesperformed byaconsultant. 3. 1 cent per share (with a free attachingoptionona1:2basis).
	Yes
	27November2013
	6,996,133shares 9,995,166options
	14,994,198shares
	30,000,000shares 15,000,000options (asapproved27February2014)

+!See!chapter!19!for!defined!terms.!

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6f Number of +securities issued underanexceptioninrule7.2 6g If +securities issued under rule 7.1A,wasissuepriceatleast75% of 15 day VWAP as calculated under rule 7.1A.3? Include the +issue date and both values. IncludethesourceoftheVWAP calculation. 6h If +securities were issued under rule 7.1A for non`cash consideration, state date on which valuation of consideration was released to ASXMarketAnnouncements 6i Calculatetheentity’sremaining issuecapacityunderrule7.1and rule7.1A–completeAnnexure1 and release to ASX Market Announcements 7 +Issuedates Note: The issue date may be prescribed by ASX (refer to the definition of issue date in rule19.12).Forexample,theissuedatefora pro rata entitlement issue must comply with theapplicabletimetableinAppendix7A. Crossreference:item33ofAppendix3B. 8 Number and +class of all +securities quoted on ASX (including the +securities in section2ifapplicable)	Nil	Nil
	Yes(87.6%) IssueDate:31March2013 IssuePrice:1centpershare 15dayVWAP:1.142cents (datasource:IRESS)
	N/A
	ReferAnnexure1
	31March2014
	Number	+Class
	171,932,318	Fully paid ordinary shares

+!See!chapter!19!for!defined!terms.!

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9 Number and +class of all +securities not quoted on ASX (including the +securities in section2ifapplicable)	Number		+Class	+Class	+Class
	28,420,166		Options–asfollows: No. Ex. Price Expiry 24,995,166 2c 31/12/17 2,200,000 25c 30/11/16 475,000 25c 2/8/16 250,000 35c 30/6/14 250,000 45c 30/6/14 250,000 55c 30/6/14 28,420,166
			No.	Ex. Price	Expiry
			24,995,166	2c	31/12/17
			2,200,000	25c	30/11/16
			475,000	25c	2/8/16
			250,000	35c	30/6/14
			250,000	45c	30/6/14
			250,000	55c	30/6/14
			28,420,166

10! Dividend!policy!(in!the!case!of! N/A! a! trust,! distribution! policy)! on! the!increased!capital!(interests)!

Part 2 - Pro rata issue

11! Is! security! holder! approval! N/A! 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!

+!See!chapter!19!for!defined!terms.!

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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!

+!See!chapter!19!for!defined!terms.!

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20 21	Namesofanyunderwriters Amountofanyunderwritingfee
	orcommission
22	Names of any brokers to the
23	issue Fee or commission payable to
	thebrokertotheissue
24	Amount of any handling fee
	payable to brokers who lodge
	acceptances or renunciations on
	behalfofsecurityholders
25	If the issue is contingent on
	security holders’ approval, the
	dateofthemeeting
26	Dateentitlementandacceptance
	formandofferdocumentswillbe
	senttopersonsentitled
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	Daterightstradingwillbegin(if
	applicable)
29	Date rights trading will end (if
30	applicable) How do security holders sell
	theirentitlements_infull_through
	abroker?
31	Howdosecurityholderssell_part_
	of their entitlements through a
	broker and accept for the
	balance?

+!See!chapter!19!for!defined!terms.!

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• 32! How!do!security!holders!dispose! of! their! entitlements! (except! by! sale!through!a!broker)?!

• 33! +Issue!date!

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!(Shares!only)!

• (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((N/A)(

Tick%to%indicate%you%are%providing%the%information%or% documents

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.!

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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.!

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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.!

Sign!here:!! ............................................................!Date:!.31!March!2014! (Director/Company!secretary)!

Print!name:!! Alex!Neuling!

+!See!chapter!19!for!defined!terms.!

==!==!==!==!==!

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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

Rule 7.1 – Issues exceeding 15% of capital

Part 1	Part 1
Rule 7.1 – Issues exceeding 15% of capital
Step 1: Calculate “A”, the base figure from which the placement capacity is calculated
Insertnumber of fully paid+ordinary securities on issue 12 months before the +issue date or date of agreement to issue	119,941,987
Addthe following: • Number of fully paid+ordinary securities 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	- 30,000,000 -
Subtractthe number of fully paid+ordinary securities cancelled during that 12 month period	-
“A”	149,941,987

+!See!chapter!19!for!defined!terms.!

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Step 2: Calculate 15% of “A”

Appendix3B Newissueannouncement	Appendix3B Newissueannouncement
Step 2: Calculate 15% of “A”
“B”	0.15 [Note: this value cannot be changed]
Multiply“A” by 0.15	22,491,298
Step 3: Calculate “C”, the amount of placement capacity under rule 7.1 that has already been used
Insertnumber of+equity securities issued or agreed to be issued in that 12 month period_not counting_those issued: • 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	Shares: 6,996,133 Options: 9,995,166
“C”	16,991,299
Step 4: Subtract “C” from [“A” x “B”] to calculate remaining placement capacity under rule 7.1
“A” x 0.15 Note: number must be same as shown in Step 2	22,491,298
Subtract“C” Note: number must be same as shown in Step 3	16,991,299
Total[“A” x 0.15] – “C”	5,499,999 [Note: this is the remaining placement capacity under rule 7.1]

+!See!chapter!19!for!defined!terms.!

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Part 2

Rule 7.1A – Additional placement capacity for eligible entities Step 1: Calculate “A”, the base figure from which the placement capacity is calculated

“A” 149,941,987 Note: number must be same as shown in Step 1 of Part 1 Step 2: Calculate 10% of “A” “D” 0.10 Note: this value cannot be changed Multiply “A” by 0.10 14,994,198

Step 3: Calculate “E”, the amount of placement capacity under rule 7.1A that has already been used

Insert number of[+] equity securities issued 14,994,198 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 “E” 14,994,198

+!See!chapter!19!for!defined!terms.!

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

Appendix3B Newissueannouncement	Appendix3B Newissueannouncement
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	14,994,198
Subtract“E” Note: number must be same as shown in Step 3	14,994,198
Total[“A” x 0.10] – “E”	- Note: this is the remaining placement capacity under rule 7.1A

+!See!chapter!19!for!defined!terms.!

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