History

JORC compliant resources for Marmapa, Wadi Sawawin and Isua totalling over 1.8bn tonnes
Testwork confirms Marampa primary ore suitable for producing +65%Fe pellet feed
Marampa Mining Lease Agreement ratified by Sierra Leone Parliament
Formal start of mine construction activity and $115m investment programme for Marampa celebrated by National Event at Marampa Minesite with GOSL President, cabinet, MPs, Paramount Chiefs, local and regional communities
Marampa Resource upgrade of Primary Ore to over 500mt including 22mt of surface weathered ore suitable for blending with tailings, doubling Phase 1 production life
Marampa drill targets met and programme further expanded to 40,000m
Isua resource increase to 951mt @36% Fe in optimised pit shell
Isua PFS completed on 5Mtpa and 10Mtpa operations
Acquisition of remaining 80% not owned of International Coal Company in Colombia, with first coke production targeted for H2 2011
Offer agreed to dispose of minority holding in DMC
Upgraded BFS completed for Wadi Sawawin project with material improvement in project economics
Agreement for LM carried interest in Wadi Sawawin project of 25% with no capital funding requirements
Exploration Joint Venture in Chile agreed with Chinese/Chilean partners

Chris Brown retires and Graeme Hossie appointed CEO
Strategic entry into China with the acquisition of operating iron ore mine in Anhui Province of Peoples Republic of China with significant expansion potential
Completion of Wadi Sawawin feasibility study indicating technical and economic feasibility of first stage of 5mtpa mining and pellet production
Oman operations office established with Wadi Sawawin project implementation and technical team
Continued growth of Technical Services division with key hires from BHP Billiton, Rio Tinto and others. Key project director hires. Further expansion of corporate management team
Settled conflicts with Sierra Leone Mining Lease boundary coordinates; grant of new 25 year Mining Lease for Marampa project
LSE:AIM listing with secondary placement of 37 million shares at GBP 74 million with over 30 new institutional investors
Marampa Mining Lease Agreement agreed with Government of Sierra Leone

Established Saudi Arabian joint venture to develop Wadi Sawawin 5-20mtpa mine and pelletizer project
Completion of Brazil sinter feed plant on time and under budget giving tenfold increase in production capacity in less than 12 months
Completion of logistics arrangements for Brazilian domestic supply
Strategic review of Brazilian value optimization options led to sale in August of Brazilian business yielding $660m profit after 15 months of ownership and a 1200% return
Initial investments in RSA and Colombia establish London Mining coal division
Brazilian CEO Luciano Ramos retained as COO Iron for London Mining globally
Market cap of $600m
Repaid all company debt and returned £220m to equity holders

$120m funds raised Feb-April ($60 equity, $60 bond issue)
Purchase of Brazilian operating mine for $65m plus deferred compensation of $24m
Development of all projects and commenced construction of 3.5mtpa sinter feed plant in Brazil and established logistics for domestic and international supply
IPO in October on Oslo Axess with further $60m fund raise
$300m Market Cap

Acquired Marampa licence after substantial due diligence, development and scoping work
Negotiated purchase option for Brazilian family owned mine, carried out due diligence and development planning activity
Identified and began building operational and technical team
Raised additional ~$4m to support development opportunities from institutional and private investors
Market cap of $25-$75m

London Mining formed in April by Chris Brown and Graeme Hossie with a mission to develop mines for the global steel industry
Acquired Greenland Isua licence and raised £1m in initial capital at a $6m post money valuation
Identified Marampa, Sierra Leone and Brazil opportunities and commenced negotiations