presentation to shareholders gullewa limited agm
TRANSCRIPT
Year of Significant Progress
Kilmain Project: commenced drilling• Intersected 3.1m Castor/Pollux seam• Now 200Mt target
Back Creek Project: commenced drilling• Intersected 7.6m cumulative coal in Bulwer and Condamine seams• Confirms 80Mt target
Townsville Project: drilling proved presence of carbonaceous strata
Tenements• Four new tenements granted• Acquired Mintovale MDL138• Lodged nine new applications
Pre-IPO Funds of $2.5 million raised for continuation of operations• IPO: planned for early 2012
Year of Significant Issues for Coal
High valuation of coal properties by the Investment Sector
Rapid expansion of coal exploration and mine development in Queensland
Flooding in Queensland
Strategic Cropping Land
Urban Restricted Areas (“URA”)
South east Queensland ban on new exploration
Carbon Tax approved
MRRT to be introduced
Kilmain ProjectUnderground: coking/PCI/low ash thermal coal
Drilled three holes and intersected full suite of RangalCoal Measures
Intersected 3.1m Castor/Pollux Seam All seams cored with coal quality and gas concentrations
analyses underway New target of 200Mt (previously 100Mt) Further drilling in 2012 on land already with access
agreement in place Drilling planned to elevate to JORC Resource status Underground project with limited negative impacts from
either flooding or Strategic Cropping Land Seam Section KL001
RAN
GA
L C
M
Back Creek ProjectOpen Cut: low ash thermal coal
Drilled holes in northern area; intersected 7.2m of coal within Bulwer and Condamine Seams
Confirmation of 80Mt target
Cored seam sections undergoing analysis
Further drilling to the south in the Barakula State Forest
Cultural heritage clearance obtained for all sites
Flora and fauna surveys underway
Access for drilling to be gained in 2012
Drilling planned to raise to JORC Inferred Resource basis
No Strategic Cropping Land within the tenement
35.2 Mt
289 Mt
Townsville ProjectUnderground: coking/PCI/low ash thermal coal
Proven historical presence of coal seams
Further exploration under consideration
Affected by URA
New Exploration Tenements Granted
Pinetree EPC 1875 (Laura Basin)
Normanby EPC 1874 (Hodgkinson Basin)
Cedar Creek EPC 2278 (Surat Basin)
Mobs Creek EPC 2309 (Surat Basin)
Mintovale MDL 138 Acquired
Acquired from Cockatoo Coal Ltd in December 2010 based on a royalty only basis
Queensland government introduces south east Queensland restrictions
Scenic Rim Council lobbying for complete ban on mining
Tenement Applications
9 new applications 3 existing applications
12 current tenement applications
Fleetwood South EPCA 2698
Fleetwood East EPCA 2699
Mt. Marrow EPCA 2374 Priority
Sandy Creek EPCA 2251
Competing
Dingo EPCA 2281
Palmeria EPCA 2474
Corsia EPCA 2592
Galium EPCA 2634
Mayaca EPCA 2644
Parapi EPCA 2154Competing
Lilyvale EPCA 2182
North Texas EPCA 2132 Secondary
Secondary Application
Project & Tenement Details
Project Name BasinTenement Number
Number of Sub Blocks
Surface Area km2 Grant Date Coal Type Deposit
Back Creek Surat EPC 1297 20 68 22 Mar 2010 Thermal Open cut
Kilmain BowenEPC 1298 16 50 7 Apr 2009 Coking/thermal Open cut/Underground
EPC 1917 2 6 22 Mar 2010 Coking/thermal Open cut/Underground
Calen CalenEPC 1631 52 (48) 161 5 Nov 2009 PCI Open cut/Underground
EPC 1820 17 (11) 53 19 Feb 2010 PCI Open cut/Underground
Lochaber Mulgildie EPC 1672 47 (38) 146 18 Dec 2009 Thermal Open cut
Connemarra Bowen EPC 1296 40 138 7 Apr 2009 Thermal Open cut
Townsville Northern BowenEPC 1492 154 (68) 494 21 May 2010 Coking/thermal Open cut/Underground
EPC 1617 65 202 6 Aug 2009 Coking/thermal Open cut/Underground
Normanby Hodgkinson EPC 1874 86 267 19 Apr 2011 Low vol PCI Open cut
Pinetree Laura EPC 1875 217 670 19 Apr 2011 Low vol PCI/thermal Open cut
Cedar Creek Surat EPC 2278 12 36 31 May 2011 Thermal Open cut
Mobs Creek Surat EPC 2309 28 96 27 July 2011 Thermal Open cut
Mintovale Moreton MDL 138 n/a 244ha 22 Mar 2010 Thermal Open cut
Total 756 (651) 2,389
NB: Sub-block numbers in brackets, eg. “756 (651)”, are amounts after relinquished sub-blocks currently lodged with Department of Mines and Energy
The Year Ahead
Exploration• Kilmain & Back Creek: raise resources to Inferred JORC status
Tenements• Maintain all tenements in good standing• Look at farm-out potential for lesser priority tenements such as
Lochaber, Calen and Pinetree• Seek accretive tenements that add value to potential resources
on existing tenements
IPO• Following raising of pre-IPO $2.5 million, IPO planned in early 2012
Pre-IPO Funds
Raised $2.5 million for continuation of operations
Pre-IPO shares at 15 cents each with 1 free option for every 3 shares exercisable at $0.25
Shareholding on completion of pre-IPO
Gullewa Limited 70 % 100 million sharesC.Randall and Associates 18 % 25 million sharesNew shareholders 12 % 17 million sharesTotal 100 % 142 million shares