MIRA INFORM REPORT

Report Date :

01.11.2008

IDENTIFICATION DETAILS

Name :	KATANGA MINING (UK) LIMITED

Registered Office :	15 Golden Square, London, W1F 9JG

Country :	United Kingdom

Financials (as on) :	31.12.2007

Date of Incorporation :	31.05.2006

Legal Form :	Private Limited with Share Capital

Line of Business :	Mining of Non-ferrous Metal Ores

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	[£] 125,000

Status :	Good

Payment Behaviour :	No Complaints

Litigation :	Clear

Name of the company

KATANGA MINING (UK) LIMITED

Number 05833449

company summary

Phone		Type	Private limited with Share Capital
Address	15 GOLDEN SQUARE, LONDON, W1F 9JG	Company Status	Active - Accounts Filed
Postcode	W1F 9JG	Incorporated Date	31/05/2006

Todays Limit [£] 125,000

	Active CCJ's	0
	Value of CCJ's [£]	£0
	Number Of Writs	0

	Current Directors	4
	Total Directorships	6

* Trading to Date	31/12/07	31/12/06
Turnover	£11,238,939	£3,669,086
Shareholder Funds	£5,825,043	£4,634,723
Employees	118	32

	Trends
	Profitability
	Liquidity
	Shareholders Funds

Secondary Industry Code Details

	SIC Code	Description
	1320	Mining Of Non-ferrous Metal Ores

Mortgage Details

Mortgage Type:	rent deposit deed
Date Charge Created:	19/09/2006	Date Charge Registered:	28/09/2006
Date Charge Satisfied:		Status:	Outstanding
Person(s) Entitled:	UNIVERSITIES SUPERANNUATION SCHEME LIMITED
Amount Secured:	all monies due or to become due from the company to the chargee under the termsof the aforementioned instrument creating or evidencing the charge
Details:	the deposit and all sums that may be pai d to the landlord

Shareholders Details

	Name	Shares
	C/o Paul Steincassels Brock & Blackwell Llp Katanga Mining Limitedcassels Brock & Blackwell Llp	1 Ordinary Gbp 1.00

Trading Address Details

	Address	Telephone Number	TCPS
	15 Golden Square W1F 9JG

accounts

PROFIT & LOSS

*	Annual Accounts	01/07-12/07	Change (%)	05/06-12/06
	Months	12	-	8
	Currency	GBP	-	GBP
	Consolidated A/cs	N	-	N
	Turnover	11,238,939	206.3 %	3,669,086
	Export	-	-	-
	Cost of Sales	-	-	-
	Gross Profit	-	-	3,669,086
	Wages & Salaries	6,639,639	186.7 %	2,316,215
	Directors Emoluments	1,937,701	999.9%	425
	Operating Profits	478,470	-	-
	Depreciation	191,722	243.2 %	55,870
	Audit Fees	30,663	58.3 %	19,374
	Interest Payments	136,880	-	-
	Pre Tax Profit	615,350	474.8 %	107,054
	Taxation	-85,122	-78.7 %	-47,642
	Profit After Tax	530,228	792.4 %	59,413
	Dividends Payable	-	-	-
	Retained Profits	530,228	792.4 %	59,413

BALANCE SHEET

*	Annual Accounts	01/07-12/07	Change (%)	05/06-12/06
	Tangible Assets	891,736	9.4 %	815,174
	Intangible Assets	-	-	-
	Total Fix Assets	891,736	9.4 %	815,174
	Total Current Assets	7,750,913	57.0 %	4,938,415
	Trade Debtors	-	-	-
	Stock	-	-	-
	Cash	450,267	113.6 %	210,828
	Other Current Assets	7,300,646	54.4 %	4,727,587
	Increase In Cash	239,440	13.6 %	210,828
	Miscellaneous Current Assets	-	-	-
	Total Assets	8,642,649	50.2 %	5,753,589
	Total Current Liabilities	2,817,606	151.8 %	1,118,866
	Trade Creditors	311,953	999.9%	2,104
	Bank Overdraft	-	-	-
	Other Short Term Fin	-	-	-
	Miscellaneous Current Liabilities	2,505,653	124.4 %	1,116,762
	Other Long Term Fin	-	-	-
	Total Long Term Liabilities	-	-	-
	Bank Overdraft & LTL	-	-	-
	Total Liabilities	2,817,606	151.8 %	1,118,866
	Net Assets	5,825,043	25.7 %	4,634,723
	Working Capital	4,933,307	29.2 %	3,819,549

CAPITALS & RESERVES

*	Annual Accounts	01/07-12/07	Change (%)	05/06-12/06
	Paid up equity	1	14.6 %	1
	P&L Account Reserve	598,103	906.7 %	59,413
	Sundry Reserves	5,226,939	14.2 %	4,575,309
	Revaluation Reserve	-	-	-
	Shareholder Funds	5,825,043	25.7 %	4,634,723
	Net Worth	5,825,043	25.7 %	4,634,723

MISCELLANEOUS

*	Annual Accounts	01/07-12/07	Change (%)	05/06-12/06
	Net Cashflow from Operations	-	-	-
	Net Cashflow before Financing	-	-	-
	Net Cashflow from Financing	-	-	-
	Contingent Liability	NO	-	NO
	Capital Employed	5,825,043	25.7 %	4,634,723
	No of Employees	118	268.8 %	32

	Auditors	PRICEWATERHOUSECOOPERS LLP
	AuditQualification	No Adverse Comments
	Bankers	BARCLAYS BANK PLC
	BankBranchCode

RATIOS

*	Annual Accounts	01/07-12/07	05/06-12/06
	Pre-tax profit margin %	5.5 %	2.9 %
	Current ratio	2.75	4.41
	Sales/Net Working Capital	2.28	0.96
	Gearing %	0.0 %	0.0 %
	Equity in %	67.4 %	80.6 %
	Creditor Days	10.10	0.12
	Debtor Days	-	-
	Liquidity/Acid Test	2.75	4.41
	Return On Capital Employed %	10.6 %	2.3 %
	Return On Total Assets Employed %	7.1 %	1.9 %
	Current Debt Ratio %	0.5 %	0.2 %
	Total Debt Ratio %	0.5 %	0.2 %
	Stock Turnover Ratio %	-	-
	Return on Net Assets Employed %	10.6 %	2.3 %

group structure

	Ultimate Parent Company	PAUL STEINCASSELS BROCK & BLACKWELL LLP
	Companies in Group	2

Company Name	Registered Number	Latest Annual Accounts
PAUL STEINCASSELS BROCK & BLACKWELL LLP	CANADA	N/A
KATANGA MINING (UK) LIMITED<<<	05833449	31/12/2007

Status History

Date	Description
No Status History

Event History

Date	Description
30/10/2008	New Accounts Filed
20/06/2008	Annual Returns
12/11/2007	New Accounts Filed
13/03/2007	Brett Allanrichards Has Resigned As Company Secretary
13/03/2007	New Board Member (brett Allanrichards) Appointed
30/01/2007	Change In Reg.office
30/01/2007	Change Of Company Postcode
22/08/2006	New Board Member (stephen Jones) Appointed
04/06/2006	New Company Secretary (brett Allanrichards) Appointed
04/06/2006	New Board Member (allan Douglasschoening) Appointed
02/06/2006	Change Of Name
02/06/2006	Change In Reg.office
02/06/2006	Change Of Company Postcode

directors

Name	Brett Allan Richards
Address	Raeburn House Ditton Grange Drive
	Long Ditton
	Surbiton
	Surrey
	KT6 5HG
Officers Title	Mr	Date Of Birth	23/07/1964
Honours		Present Appointments	1
Appointment Date	28/02/2007	Function	Director

Name	Anu Dhir
Address	1st/2nd Floor 46 Cranley Gardens
	London
	SW7 3DE
Officers Title		Date Of Birth	16/06/1971
Honours		Present Appointments	2
Appointment Date	28/02/2007	Function	Company Secretary

Name	Stephen Jones
Address	30a Grove End Road
	London
	Uk
	NW8 9LJ
Officers Title	Mr	Date Of Birth	12/11/1958
Honours		Present Appointments	2
Appointment Date	31/07/2006	Function	Director

Name	Allan Douglas Schoening
Address	Wayside, 3 Goldrings Road
	Oxshott
	Surrey
	Uk
	KT22 0QP
Officers Title	Mr	Date Of Birth	20/03/1959
Honours		Present Appointments	1
Appointment Date	31/05/2006	Function	Director

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.48.96
UK Pound	1	Rs.80.26
Euro	1	Rs.63.08

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
NR		In view of the lack of information, we have no basis upon which to recommend credit dealings	No Rating

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

Web Address		Incorporation Date	31/05/2006
Type of Accounts	Full Accounts	Filing Date of Accounts	23/10/2008
Company Type	Private Limited With Share Capital	Date of Latest Accounts	31/12/2007
Annual Return	31/05/2008

	Registered Address		Trading Address
	Telephone Number		Telephone Number
	TPS		TPS
	Address		Address
	15 GOLDEN SQUARE LONDON W1F 9JG		15 Golden Square W1F 9JG

	Industry:
	The Provision Of Services To Other Group Companies. Accounts Data Converted From Us Dollars.

Mortgage Charges
Outstanding	1	Satisfied	0