Company Information for Albidon Ltd

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Company Statement

Albidon Limited (AIM: ALD / ASX: ALD), the first company to list simultaneously on AIM and the ASX, was established in April 2000 to acquire mineral exploration and development projects in Africa, with an emphasis on nickel, but exposure also to PGMs and uranium. The Company has spent the past six years building a large portfolio projects ranging from development stage to grass roots exploration. Albidon is currently positioned to make the transition from explorer to miner.

The primary focus has been on the Munali Nickel Project in Zambia, where the Company completed a positive Bankable Feasibility Study in July 2006. Construction of the mine has commenced, with commissioning of the processing plant and first deliveries of concentrate in the first half of 2008. Exploration drilling is ongoing, with the aim of expanding the nickel resource base in the Munali district. Recently the Company has completed a US$60M financing facility for the project.

Albidon's large licence holdings in southern and eastern Zambia also have potential for substantial uranium deposits, and this has been confirmed by recently reported high grade drill intercepts at the Njame prospect, part of a joint venture being funded by African Energy Resources.

Current Operations

Zambia

Munali Nickel Project
The Munali Enterprise nickel deposit is located approximately 60km south of Lusaka in southern Zambia. The project is well served by road, rail and power infrastructure as well as water supplies.

The deposit is of the ‘gabbro-hosted’ class of nickel sulphide deposits and as such the geology and style of mineralisation are broadly similar to that of other gabbro deposits such as Tati in Botswana and Sally Malay in Australia. Munali is 100% owned by Albidon.

Positive Bankable Feasibility Study Completed:

A Bankable Feasibility Study (‘BFS') was successfully completed in July 2006 and indicates the project is technically and commercially feasible. Based on the robust economics, The Board has approved development of the Enterprise project which is designed to produce approximately 8,500 tpa of nickel in concentrate from a 900,000tpa underground mining operation.

Offtake Agreement & Financing:

Albidon has recently signed an offtake agreement with Jinchuan Group for the Munali project. This will provide US$20 million of subordinated debt finance to fund the development of the Munali Nickel Project; and Jinchuan to make an equity investment of US$5 million in Albidon.

A capital raising was completed in October 2006 to provide US$35 million of equity finance for the project funding, and Barclays Capital and the European Investment Bank have been mandated for a further $60m. The project is scheduled for construction through 2007, with commissioning and first production of nickel concentrates expected in the first half of 2008.

Malawi

The Mpemba Project, wholly owned by Albidon, is located in southern Malawi, about 20 km to the southwest of the city of Blantyre. The project area is underlain by mafic intrusive rocks that contain disseminations and clots of nickel sulphides at many localities, in addition to a nickel and copper soil geochemical anomaly that extends over an area greater than 3 sq km.

There are historical reports of rock samples yielding assay results of up to 2.9% Ni and 2.7g/t Pt, along strike to the northwest.

The Company considers this extensive mineralised prospect area has potential for a large deposit of disseminated nickel sulphides, or smaller areas of massive nickel mineralisation.

Further IP surveying is required to determine the strike-length of this anomaly and to determine if it is of sufficient extent to warrant drill testing. This work is scheduled for the second quarter of 2007.
 
Tunisia

Albidon has recently entered into an agreement with Zinifex for Exploration of the zinc projects in Tunisia. The agreement will mean a minimum initial commitment of US$1.3 miliion, to be expended within 12 months and Zinifex to spend US$6 million to earn a 51% interest within 3 years and thereafter may earn a total of 70% interest by expenditure of an additional US$5 million within 2 years.

Other Projects:
 - Nefza Zinc-Lead Prospects
 - Nefza Copper-Gold Prospects
 - Jebel Trozza and Jebel Touila Zinc Projects

Albidon’s other projects are at an early stage of exploration, where prospects range in degree of maturity from mineralized drill intersections, such as the recent high grade platinum discovery at Luwumbu in Tanzania , to large licence holdings which cover prospective ground with identified targets that have not yet been drilled, such as the Songea nickel project in Tanzania .

Tanzania

 - Songea Nickel Project
 - Luwumbu Platinum – Nickel Project 
Botswana

- Selebi-Phikwe Nickel Project
- Otse Nickel Project


Exploration Cooperation Agreement with BHP Billiton:

Albidon also has an agreement in place with BHP Biliton for the exploration and development of a number of Albidon’s nickel projects in Malawi, Tanzania, Zambia and Botswana. The agreement excludes the Munali deposit and the Tati Joint Venture with Gallery Gold Limited, but does include two large prospecting licenses contiguous to the Munali tenement.

Geographical Spread

• Zambia





• Malawi





• Botswana





• Tanzania





• Tunisia

Board of Directors and Key Management

Dale Rogers	Managing Director
Richard Potts	Non-Executive Chairman
Donal Windrim	Executive Director
Alasdair Cambell Cooke	Executive Director
Paul Chapman	Executive Director
Christopher John Gilbert De Guingand	Non-Executive Director
Valentine Chitalu	Non-Executive Director
Nicholas Day	Chief Financial Officer

Company Address Level 1, 62 Colin St West Perth, Australian Capital Territory, Australia 6005 Telephone: (61 8) 9221 4600 Facsimile: (61 8) 9221 4699 Email: tcaddis[at]albidon.com Website: http://www.albidon.com

Additional Address/Key Contact LUSAKA Plot No. 204 4th Street off Central Street Jesmondine  Lusaka  Zambia Tel: + 260 (1) 840 198 Fax: + 260 (1) 290 088 CAPE TOWN First Floor, West Block Tannery Park 23 Belmont Road Rondebosch 7700 South Africa Tel: + 27 (21) 685 5071 Fax: + 27 (21) 685 5091

Annual General Meeting December 2007

Year End 30th June

Nominated Brokers Numis Securities Ltd

Nominated Advisors Numis Securities Ltd

Broker/Analyst Reports

30/10/07 - Patersons
29/05/07 - RBC Capital Markets
07/04/07 - Austock Securities
19/02/07 - Austock Securities
19/02/07 - Numis Securities

Major Shareholders

Shareholders	Shares (000,000)	(%)
Lion Selection	33.8	(21.96%)
Commonwealth Bank	12.9	(8.32%)
Fidelity Investment	12.9	(8.4%)
Donal Windrim	7.5	(4.83%)
AXA (Institutional Group)	5.1	(3.36%)
Craig Burton	5	(3.25%)
Alasdair Cook	5	(3.22%)
CMG Capital	4.8	(3.17%)
AMP Capital Investors	4.5	(2.96%)

Related News

18/04/08 - Albidon Increases Projected Nickel Output At Munali, With First Production Just Weeks Away
27/02/08 - Albidon Looks To Deploy Imminent Cashflow On New Projects In Africa
07/11/07 - Albidon Moving Into Uranium
15/01/07 - Albidon Spices Its Success At Munali With Some Prospective Uranium Exploration.

Most Recent Statement

01/07/08 - Munali Nickel Project Delivers First Concentrate
18/06/08 - ISSUE OF INCENTIVE OPTIONS
04/06/08 - NOTICE OF CHANGE IN SIGNIFICANT AND SUBSTANTIAL SHAREHOLDINGS
02/06/08 - Annual General Meeting
29/05/08 - ADDRESS TO THE ANNUAL GENERAL MEETING
29/05/08 - AGM PRESENTATION