INFORMATIONMEMORANDUM:

WHIMCREEKSXEWPLANT 5TPDCOPPERCATHODE
UnderInstructionsfromWASCOMININGCOMPANYPTYLTD
MinascoAustraliaPtyLtd, 69EvansStreet,Sunbury,Victoria,3429,Australia. Phone:+61397408933 Fax:+61397409211 http://www.minasco.com.au Email:enquiries@minasco.com.au A.B.N.72925806199

WASCOMININGCOMPANYPTYLTD WHIMCREEKSXEWPLANT5TPDCOPPERCATHODEWA InformationMemorandum

CONTENTS: 1.0 2.0 3.0 4.0 5.0 5.1 5.2 5.3 INTRODUCTION ........................................................................................................... 3 GENERAL INFORMATION ........................................................................................... 3 INSPECTION................................................................................................................. 4 OFFERS ........................................................................................................................ 4 ATTACHMENTS ........................................................................................................... 6 EQUIPMENT LIST ..................................................................................................... 6 GENERAL ARRANGEMENT DRAWING REFER ATTACHED .................................. 13 PHOTOS REFER ATTACHED................................................................................... 13

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1.0

INTRODUCTION

This Information Memorandum has been prepared by Minasco Australia Pty Ltd (Minasco) in its capacity as agents for the vendors, Wasco Mining Company Pty Ltd (Wasco). The Memorandum is provided as a guide for prospective purchasers providing background information and technical details relating to the 5TPD SX-EW Plant assets offered for sale insitu at Whim Creek Mine in the Pilbara Region of Western Australia, Australia. Its content and descriptions do not form any part of subsequent documentation that would arise from purchase of the plant and other assets. Whilst every care has been taken in preparation of the Memorandum, it is the responsibility of intending purchasers to ensure to their own satisfaction, by on site inspection and verification, the accuracy of the information provided. No responsibility or liability is accepted by the vendors, Minasco or their staff for the accuracy of the information provided. Inspecting parties will be offered every assistance at inspection and access to all relevant documentation that may assist in their evaluation of the plant and equipment. We would be pleased to provide answers to any queries that may arise.

2.0

GENERAL INFORMATION

Wasco are offering their 5TPD SX-EW Plant to the market as a package for removal, currently located in-situ at Whim Creek Mine in the Pilbara Region of Western Australia. The plant was constructed new by Wasco and commissioned in October 2011. Operation was only for a short period during commissioning and production of 60 tonnes of copper cathode. A fire in the main generator caused the shutdown of operations. At the time of decommissioning the plant was in excellent condition, having operated only for a few months since new, with an industry standard care and maintenance programme put in place when it was decommissioned in February this year. The plant also includes a small package comprising all available spare parts on site. Dismantling of the plant and other assets for transport will be required to be completed by the purchaser, or their nominated contractor, and be planned and carried out in a safe, timely and efficient manner complying at all times with the mine site requirements. Wasco have offered to provide management services for relocation and commissioning of the plant. Minasco can assist with recommended contractors and service providers on all aspects of plant relocation from dismantling through to reinstallation and commissioning if required. Please contact Minasco for further details. The location, modular design and bolted construction of the plant will allow for ease of dismantling and relocation. A pre-emptive logistical package will ensure the plant can be delivered to any new project worldwide on a cost effective basis. Potential purchasers will have an adequate due diligence period to assess the plants suitability for their project under consideration. Engineering drawings, technical

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documentation and other intellectual property form part of the package providing considerable time cost benefits to new projects. All available engineering drawings, operation and maintenance manuals, maintenance procedures and records and other intellectual property (relevant to the design, construction and operation of the plant) is included as part of the sale. Potential buyers should note that all intellectual property, provided as part of the sale, will be subject to indemnification of Wasco under the Terms and Conditions of Agreement. A detailed Equipment List defining the scope of assets available, a General Arrangement Drawing and Photos of the plant are provided in the Attachments to this document.

3.0

INSPECTION

Inspection is strictly by appointment only through Minasco due to restricted access to the mine site. Minasco will require advance notice from enquiring parties to obtain access the plant and a mutually convenient time for inspection will be arranged to ensure appropriate personnel are available to facilitate your inspection requirements. All queries in relation to and arising from equipment inspection should be directed to Minasco.

4.0

OFFERS

Offers are invited for purchase of the complete plant as a single parcel lot and should be forwarded to Minasco for consideration. Offers are on a first in basis and will be considered at the time of receipt. The plant is offered in condition as is where is for removal from site and a complete logistical package can be provided for an international destination. All costs associated with dismantling to top of foundations and equipment removal works required for relocation of the equipment are to the purchasers expense and shall be carried out in accordance with the terms and conditions of Agreement, statutory legislation and regulations and the policies and procedures of the mine site and Wasco where applicable. This procedure is not a tender and parties making offers to purchase the plant will have the opportunity to negotiate their offer to a level acceptable to Minasco and Wasco. Parties who have inspected the plant and intend to submit an offer should consider the following points when structuring and presenting their offer: 1. The offer should provide a lump sum price, in Australian Dollars exclusive of any taxes, to purchase the package of equipment and assets specified in this documentation. 2. The offer submitted should be done so on a best and final price basis. We advise that a party submitting an offer at a level acceptable to both Minasco and Wasco will be given first right to negotiate a position to purchase the plant.

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3. The offer should detail any discrepancies observed in relation to the scope of equipment on offer, any terms and conditions the purchase may be subject to and an anticipated timeframe for removal of the equipment from its current location. In assessing offers consideration will be given to the terms of offer in addition to the offered price. 4. The payment terms relating to sale would be based on the following: Payment of a non-refundable 10% deposit upon signing of a Purchase Agreement. Payment of the remaining 90% prior to commencement of dismantling works and removal of equipment from the site or 30 days from signing of a Purchase Agreement, whichever is earlier.

5. Upon receipt of payment in full of the purchase price by Wasco, ownership and property in the plant would pass from the Wasco to the purchaser. At such time all risk and liability in the plant would transfer to the purchaser. 6. All offers should be made in writing (on company letterhead and signed by the appropriate authority) and submitted by fax, email or courier to: Wasco Mining Company Pty Ltd RE: Whim Creek SX-EW Plant, WA C/- Minasco Australia Pty Ltd PO Box 20 ( 69 Evans St ) Sunbury, 3429 Victoria, Australia AND an original forwarded as above. Minasco Australia Contacts: Sales and Marketing: Geoff Fields Mobile: +61-419-377 939 Geoff.Fields@minasco.com.au Technical: Robert Fields Mobile: +61-439-321 476 Robert.Fields@minasco.com.au Phone: Fax: E-mail: +61-3-9740 8933 +61-3-9740 9211 enquiries@minasco.com.au

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5.0
5.1

ATTACHMENTS
EQUIPMENT LIST

The Whim Creek SX-EW (5TPD Copper Cathode) Plant comprises the following major component equipment: 1x PLS Pump: Motor: 55Kw, 84Amp, 1480rpm IP44 Pump: 150-125-400, 250m3/h, 40m, Stainless steel housing, Ceramic seal, Rubber tyre coupling, Manufactured in China

1x Extract Mixer: Dimensions: 2.6m(D)x 3.5m(H) Motor: 15Kw, amp, 1160rpm, IP56 Capacity: Approximately 18Kl

1x Extract Settler: Dimensions: 6m(w)x9m(L)x1.2m(h) Capacity: Approximately 64Kl Features: 1 row picket fence at launder box, fixed aqueous weir, adjustable organic weir, 350mm organic outlet x2, 350mm aqueous outlet x1, 50mm drains x 4, domed fiberglass roof

1x Spent Aqueous Tank: Material: FRP Capacity: 22Kl Features: 350mm inlet up tank side, 200mm outlet at tank bottom

2x Spent Aqueous Pumps: Motor: 4Kw, 960rpm, 8.4Amp, IP56 Pump: Regent pumps type D150-214-TD64A, Stainless steel housing, Carbon seals, 75m3/h

1x Coalescing Tank: Material: FRP Capacity: 5Kl Features: 350mm inlet at tank bottom, 350mm and 200mm connecting outlets to Loaded organic tank

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1x Loaded Organic Tank: Material: FRP Capacity: 22Kl Features: 350mm and 200mm connecting inlets from coalescing tank, 200mm outlet at tank bottom

1x Loaded Organic Pump: Motor: 15Kw, 30Amp, 1460rpm, IP44 Pump: 125-100-315, 150m3/h, 18m, Stainless steel housing, Ceramic seal, VSD controlled, Manufactured in China

1x Strip Mixer Tank: Dimensions: 2.6m(D)x 3.5m(H) Motor: 15Kw, amp, 1160rpm, IP56 Capacity: Approximately 18Kl

1x Strip Settler: Dimensions: 6m(w)x9m(L)x1.2m(h) Capacity: Approximately 64Kl Features: 1 row picket fence at launder box, fixed aqueous weir, adjustable organic weir, 350mm organic outlet x2, 350mm aqueous outlet x1, 50mm drains x 4, domed fiberglass roof

1x Barren Organic Tank: Material: FRP Capacity: 5Kl Features: 350mm inlet at tank bottom, 200mm outlet at tank bottom, float level indicator

1x Barren Organic Pump: Motor: 55Kw,84Amp, 1480rpm,IP44 Pump: 150-1250-400, 250m3/h, 40m, Rubber tyre coupling, Stainless steel housing, Ceramic seal, VSD controlled, Manufactured in China

1x Strong Electrolyte Tank: Material: FRP Capacity: 22Kl Features: 350mm inlet at tank bottom, 200mm outlet to recirculating system, 100 outlet to 10Kl balance tank

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1x Strong Electrolyte Tank: Material: Poly Capacity: 10Kl Features: 100mm inlet at tank bottom from 22Kl Strong electrolyte tank, 100mm outlet at tank bottom

1x Strong Electrolyte Pump: Motor: 5.5Kw, 11.1Amp, 2900rpm, IP55 Pump: 65-50-160, 20m3/h, 30m, stainless steel housing, ceramic seal, manufactured in China

1x Recirculating Electrolyte Tank: Material: FRP Capacity: 22Kl Features: 350mm inlet up tank side, 200mm outlet balance pipe to Spent electrolyte system, 160mm outlet at tank bottom

1x Recirculating Electrolyte Pump: Motor: 18.5Kw, 35Amp, 1465rpm, IP55 Pump: Stork type CC80-400 R6M2L1, stainless steel housing, carbon ceramic seal, manufactured in Netherlands

1x Spent Electrolyte Tank: Material: FRP Capacity: 5Kl Features: 200mm balance pipe from Recirculating electrolyte tank, 100mm outlet at tank bottom, internal baffle at balance pipe system

1x Spent Electrolyte Pump: Motor: 3Kw, 6.5Amp, 2880rpm, IP55 Pump: 65-50-105, 20m3/h,15m, stainless steel housing, ceramic seal, manufactured in China

1x Dry Chemical Mixing Tank: Material: Poly Capacity: 3Kl Features: Fixed shaft mixing motor and elevated working platform

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1x Dry Chemical Distribution Pump: Motor: 1.1Kw, 2.25Amp, 2880rpm, IP56 Pump: Grundfos type CRN15-01 B-FGJ-G-V-HQQV, 17m3/h, 13.5m, Stainless steel housing, Carbon seal, vertical upright system

1x Air Compressor: Brand: Gardner Denver Compressor style: Rotary screw Type: ESS 18-8 EANA Capacity: 2.7m3/min Max. Pressure: 8Bar Motor power: 18.5Kw Voltage: 415V

1x Air Compressor: Brand: Ceccato Compressor style: Rotary screw Type: RCOMP10/8 Max. Pressure: 8Bar Motor power: 7.5Kw Voltage: 415V

Flow Meter- Electrolyte: Brand: ABB Flange: DN150/ AS2129 Table E Material: Steel/ PTFE/ Hastelloy C-4 Power supply: 240V AC Max flow: 600m3/h Method of measurement: Resistance Quantity: 63mm x 2, 110mm x 1, 160mm x 3

Flow Meter- Organic: Brand: Yokogawa Flange: DN150 Table E Material: Stainless steel Power supply: 10.5- 30V DC Method of measurement: Vortex Quantity: 160mm x 2

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Control Valve / Flow Valve: Brand: Tyco/ Keystone Operation: Air pneumatic, Butterfly Working pressure: 830Kpa Safety: Single acting 530Kpa fail close Quantity: o Control valve: 63mm x 3, 160mm x 3 o Flow valve: 63mm x 2, 110mm x 1, 160mm x 4, 200mm x 5

Manual Valves: Brand: Tyco/ Keystone Operation: Manual, Butterfly Quantity o 63mm x 1, 110mm x 3, 160mm x 3, 200mm x 8

1x Acid Tank: Material: Steel Capacity: 2.5Kl Features: 50mm inlet and outlet at tank bottom, conical roof with manhole cover

1x Acid Pump: Motor: 1.5Kw, 3.4Amp, 2850rpm, IP55 Pump: 40-32-125, 5m3/h, 2m, Stainless steel housing, Carbon seal, manufactured in China

1x Electrowinning Shed: Dimensions: 30mx 11.4mx 8m Features: Open sided shed, canted roof, gantry rail system with gantry crane, cyclone rating 5, complete walkway area around electrowin cells

1x Gantry Crane: Capacity: SWL 5t Hook: SWL 5t Operation: Hand held remote control

1x Cathode Wash Cell: Dimensions: 3445mmx 1200mmx 1450mm Material: Polymer concrete, resin coated

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10x Electrowinning Cell: Dimensions: 3445mmx 1200mmx 1450mm Material: Concrete, resin coated Features: Capacity for 34 Anodes, 33 Cathodes; Capping boards with Bus bar in place, electrolyte distribution system in cell bottom, fixed overflow weir

2x Cathode Hanging Rack: Material: Steel Capacity: 33 Cathodes each

363x Cathode Mother Plates: Dimensions: 1250mmx 1100mm Material: Stainless steel plate, Copper Bus bar

340x Anode Plates: Dimensions: 1200mmx 1000mm Material: Lead alloy, Copper Bus bar

1x Diesel Powered Generator: Engine: Cummins 375KVA, 6 cylinder turbo charged intercooler, high temperature cooling pack Generator: Stamford Features: Silent operation in 20 shipping container, belly diesel tank

1x Diesel Powered Generator: Engine: MTU 1125KVA, V18 cylinder twin turbo charged intercooler, high temperature cooling pack Generator: Stamford Features: Silent operation in 20 shipping container, belly diesel tank

1x MCC: 20 transportable room, air conditioned, fully operational switch board with PLC control for plant operation, plant parameter adjustment via touch screen panel

2x Rectifier Units: Input: 415V AC Output: 21V DC (Max), 10500Amp (Max) Manufactured in China

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Control System: Alan Bradley PLC control System.

Reverse Osmosis Plant: Pre-filter, Wavecyber Model 1465 automatic sand & gravel backwash filter. Vertex Hydropore J-64040 RO System housed in insulated, air conditioned container. Production rate of up to 1200 litres per hour. Six 4.0 x 40" thin film membranes. Microprocessor control for fully automatic operation including product tank level. Hydraulic control panel with recycle system to maximise recovery rate up to 80%. Stainless steel pump, pressure vessels, gauges, fittings and frame.

Laboratory: Notes: All flanges are joined using zinc M16 bolts, washers and nuts Operation area has lighting towers for night time operation There are 7 safety showers and eye wash stations attached to the plant There are a variety of stairway, walkway platforms and guard rail located around the operational area for access and safety Transportable 4 room Lab with office / wet lab / AA room / chemical store 2010 Varian SpectrAA 50B atomic absorption photospectrometer, with copper, gold and silver lamps, wide range PM tube and air/acetylene & nitro burners Digital analytical balance 6000gms Magnetic stirrers Glassware incl. beakers, pipettes, flasks, burettes, etc.

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5.2 5.3

GENERAL ARRANGEMENT DRAWING Refer Attached PHOTOS Refer Attached

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