Company Information for Albidon Ltd

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Company Statement

Albidon is an Africa-focused exploration and development company with an emphasis on nickel. The Company has spent the past seven years building a large portfolio of nickel sulphide projects ranging from production stage to grass roots exploration.

In the past year Albidon has largely completed the transformation from junior explorer to nickel mining company. The company is now part of the ranks of an exclusive group, an independent producer of high quality nickel concentrates from a new greenfields mining project.

Current Operations

Munali Nickel Project, Zambia - construction has commenced on this Ni-Cu-Co-PGM project which achieved first production of concentrates in mid 2008. This is one of only a handful of new nickel sulphide mining projects worldwide.

Selebi-Phikwe Nickel Project, Botswana - exploration is under way over numerous nickel-copper occurrences in prospective yet under-explored geology to the south of Africa’s premier nickel mining district of Selebi-Phikwe.

Songea Nickel and Luwumbu Platinum Joint Ventures, Tanzania - JV partners BHP Billiton (Songea) and Goldstream/Lonmin (Luwumbu) are funding aggressive exploration programs in this emerging mineral province.

Nefza Zinc Project, Tunisia – comprising district-scale exploration opportunities in mineralised regions the Directors believe to have good potential, yet receiving only minimal previous exploration. Albidon’s portfolio provides a pipeline of nickel and other metal exploration properties at different stages of advancement and the Company is now seeking to raise funds to advance these projects.

Joint Ventures
Uranium Projects
Albidon and African Energy Resources Limited have entered into an agreement for the exploration and development of a number of uranium prospects that have been identified on Albidon’s tenements in Zambia.

Under the Agreement A$500,000 was spent by African Energy within two years to maintain an option to enter a Joint Venture on one or more project areas, following which African Energy has, to date, nominated three projects for farm-in, the Chirundu, Kariba Valley and Luano Valley Joint Ventures.

African Energy may earn a 30% interest in each of these project areas selected by it for farm-in by expending A$1 million on the selected project area, and may then proceed to earn a 70% interest by drilling up a JORC Indicated Resource and completing a Pre-Feasibility Study. African Energy has earned an initial 30% interest in the Chirundu Joint Venture and is still earning a 30% interest in the Kariba Valley and Luano Valley JVs.

Geographical Spread

• Zambia
• Malawi
• Botswana
• Tanzania
• Tunisia

Board of Directors and Key Management

Alasdair Cambell Cooke	Executive Director
Paul Chapman	Executive Director
Christopher John Gilbert De Guingand	Non-Executive Director
Valentine Chitalu	Non-Executive Director
Nicoholas Day	Chief Financial Officer
Sonja Felderhof	General Manager Business Development

Company Address Level 1 62 Colin St West Perth, Australia 6005 Telephone: (61 8) 9221 4600 Facsimile: (61 8) 9221 4699 Email: info[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

Capital Number of Shares on Issue: 165,160,902

Annual General Meeting December

Year End 30th June

Nominated Brokers Numis Securities Ltd Cheapside House, 138 Cheapside, London EC2V 6LH United Kingdom

Nominated Advisors RFC Corporate Finance Limited Level 15, 250 St George’s Terrace, Perth, WA Australia 6000 Contact: Stephen Allen (61 8) 94802500

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

African Lion and African Lion	2 20.5%	33.8
Jinchuan Group	5.6%	9.3
Commonwealth Bank	4.9%	8.0
Donal Windrim	4.5%	7.5
Blackrock Advisors (Institutional Group)	3.5%	5.7
Emerging Markets Management LLC	3.1%	5.1
Alasdair Cooke	3.00%	5.0
Robert Disbrow	3.00%	4.9

Related News

04/12/08 - Albidon Has Some Tough Decisions To Make In The Face Of The Horror Of $4 Nickel
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

18/12/08 - Settlement Tranche 2 Equity Raising
18/12/08 - Results of General Meeting
11/12/08 - Munali Nickel Project - Business Update
02/12/08 - Notice of EGM
01/12/08 - Issue of shares
01/12/08 - Managing Director Resignation