Year 7 Annual and final report for period 16 August 2006 to 14 December 2012

Abstract

Uranium West carried out only limited compilation of the Rum Jungle data before a significant corporate and shareholder change resulted in a revision of strategy in its parent company. On 30th November 2012, Focus Minerals Limited, the parent company of Focus Minerals (Laverton) Limited (formerly Crescent Gold Limited of which Uranium West is a wholly owned subsidiary), announced that shareholders had approved a fund raising placement to Shandong Gold International Mining Corporation Limited. On 21st December, Focus Minerals announced completion of the placement that saw Shandong Gold become a 51% shareholder. Initial use of the funds was planned to be targeted on the company's gold assets and to compliment this strategy a decision was made prior to the placement to divest some non-gold projects, including EL 24835.