Number of Ordinary Shares of 0.25 pence in issue at 31 May 2007: 68,879,511

Treasury shares: None

As at the year ended 31 March 2007 the following interests amounting to 3% or more of the issued share capital of the company were:

Pershing Keen Nominees Limited             9,002,475         15.1%

Panther Executive Pension Scheme         8,000,000         13.4%

Ashton Nominees Inc.                           7,340,002         12.3%

Dr Nicholas Badham                               6,667,067         11.2%

Jim Nominees Limited                            5,480,834         9.2%

Raven Nominees Limited                        5,320,692         8.9%

St Cloud Capital SA                               4,000,000         6.7%

Phelps Dodge Exploration Corporation      3,690,000         6.2%

Easy Business Consulting Limited              2,000,000        3.4%

 
The percentage of ordinary shares not in public hands is 42.8%.

Security restrictions: None

Warrants

By a letter of engagement dated 8 March 2005 between Beaumont Cornish and the Company whereby Beaumont Cornish agreed to act as Nominated Adivor in connection with the Admission and pursuant to an exchange of letters dated 26July 2005 and a resolution of the Board passed on 26 July 2005 the Company executed a deed relating to warrants granted to Beaumont Cornish. The terms of the warrants are:

(a) Number: 200,000
(b) Exercise Price: 5 Pence
(c) Date of Expiry: 1 August 2010

This will be updated at the half years ended 30 September and years ended 31 March.