Company

Background

The Company was incorporated on 21 December 1999 and its Shares were quoted on ASX on 12 April 2000. From June 2006 until September 2009, the Company’s primary focus was the Vertigo media and outdoor advertising business. As a result of the Vertigo business proving to be unsustainable in the face of the global economic downturn, the Board resolved to focus its activities within the mining sector. The Company has since divested its interest in the Vertigo business.

On 7 September 2009, the Company announced that it had entered into a heads of agreement with Indago Resources Limited (Indago) pursuant to which the Company agreed to acquire the Snowbird and Mid-Continent nickel and gold exploration projects in Canada and the US respectively from Indago.

On 8 September 2009, the Shares in the Company were suspended from trading on ASX at the request of the Company pending completion of a proposed reorganisation of the Company’s issued capital, obtaining Shareholder approval for a change to the nature and scale of the Company’s activities and re-complying with the requirements of Chapters 1 and 2 of the ASX Listing Rules.