MIRA INFORM REPORT

Report Date :

25.09.2012

IDENTIFICATION DETAILS

Name :	AURA METALS LTD.

Registered Office :	39A Welbeck Street, London, W1G 8DH

Country :	United Kingdom

Financials (as on) :	31.12.2011

Date of Incorporation :	25.01.2001

Com. Reg. No.:	04147608

Legal Form :	Private Parent Company

Line of Business :	Merchants and dealers in metals

No. of Employees :	05 employees

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
Payment Behaviour :	No Complaints
Litigation :	Clear

NOTES:

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – March 31^st, 2012

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

United Kingdom

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

United Kingdom - ECONOMIC OVERVIEW

The UK, a leading trading power and financial center, is the third largest economy in Europe after Germany and France. Over the past two decades, the government has greatly reduced public ownership and contained the growth of social welfare programs. Agriculture is intensive, highly mechanized, and efficient by European standards, producing about 60% of food needs with less than 2% of the labor force. The UK has large coal, natural gas, and oil resources, but its oil and natural gas reserves are declining and the UK became a net importer of energy in 2005. Services, particularly banking, insurance, and business services, account by far for the largest proportion of GDP while industry continues to decline in importance. After emerging from recession in 1992, Britain's economy enjoyed the longest period of expansion on record during which time growth outpaced most of Western Europe. In 2008, however, the global financial crisis hit the economy particularly hard, due to the importance of its financial sector. Sharply declining home prices, high consumer debt, and the global economic slowdown compounded Britain's economic problems, pushing the economy into recession in the latter half of 2008 and prompting the then BROWN (Labour) government to implement a number of measures to stimulate the economy and stabilize the financial markets; these include nationalizing parts of the banking system, temporarily cutting taxes, suspending public sector borrowing rules, and moving forward public spending on capital projects. Facing burgeoning public deficits and debt levels, in 2010 the CAMERON-led coalition government (between Conservatives and Liberal Democrats) initiated a five-year austerity program, which aims to lower London's budget deficit from over 10% of GDP in 2010 to nearly 1% by 2015. In November 2011, Chancellor of the Exchequer George OSBORNE announced additional austerity measures through 2017 because of slower-than-expected economic growth and the impact of the euro-zone debt crisis. The CAMERON government raised the value added tax from 17.5% to 20% in 2011. It has pledged to reduce the corporation tax rate to 23% by 2015. The Bank of England (BoE) implemented an asset purchase program of up to £325 billion (approximately $525 billion) as of February 2011. During times of economic crisis, the BoE coordinates interest rate moves with the European Central Bank, but Britain remains outside the European Economic and Monetary Union (EMU).

Source : CIA

Company name & address

Aura Metals Ltd.

9 Beauchamp Place

London, SW3 1NQ

United Kingdom

Tel: 020 7052 0049

Fax: 020 7052 0112

Web: www.aurametals.co.uk

Synthesis

Employees: 5

Company Type: Private Parent

Corporate Family: 2 Companies

Quoted Status: Non-quoted Company

Incorporation Date: 25-Jan-2001

Auditor: Sinclairs

Financials in: USD (Millions)

Fiscal Year End: 31-Dec-2011

Reporting Currency: British Pound Sterling

Annual Sales: 62.1 1

Net Income: 0.3

Total Assets: 7.5

Business Description

Merchants and dealers in metals.

Industry

Industry Miscellaneous Capital Goods

ANZSIC 2006: 3322 - Metal and Mineral Wholesaling

NACE 2002: 5152 - Wholesale of metals and ores

NAICS 2002: 423520 - Coal and Other Mineral and Ore Merchant Wholesalers

UK SIC 2003: 5152 - Wholesale of metals and ores

UK SIC 2007: 4672 - Wholesale of metals and metal ores

US SIC 1987: 505 - Metals and Minerals, Except Petroleum

Key Executives

Name	Title
Angela Margaret Mead	Secretary
Anders Neil Axson	Director
Charles Anders Cohen	Director
Roger Olof Cohen	Director

Financial Summary

FYE: 31-Dec-2011

USD (mil)

Key Figures
Current Assets	7.52
Fixed Assets	0.02
Total Liabilities	6.18
Net Worth	1.29

Key Ratios
Current Ratio	1.22
Acid Test	1.20

Registered No.(UK): 04147608

1 - Profit & Loss Item Exchange Rate: USD 1 = GBP 0.623776

2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6434593

Corporate Overview

Location

9 Beauchamp Place

London, SW3 1NQ

London County

United Kingdom

Tel: 020 7052 0049

Fax: 020 7052 0112

Web: www.aurametals.co.uk

Sales GBP(mil): 38.8

Assets GBP(mil): 4.8

Employees: 5

Fiscal Year End: 31-Dec-2011

Industry: Miscellaneous Capital Goods

Registered Address:

39A Welbeck Street

London, W1G 8DH

United Kingdom

Incorporation Date: 25-Jan-2001

Company Type: Private Parent

Quoted Status: Not Quoted

Registered No.(UK): 04147608

Director: Charles Anders Cohen

Contents

Industry Codes

Business Description

Financial Data

Key Corporate Relationships

Industry Codes

ANZSIC 2006 Codes:

3322 - Metal and Mineral Wholesaling

NACE 2002 Codes:

5152 - Wholesale of metals and ores

NAICS 2002 Codes:

423520 - Coal and Other Mineral and Ore Merchant Wholesalers

US SIC 1987:

505 - Metals and Minerals, Except Petroleum

UK SIC 2003:

5152 - Wholesale of metals and ores

UK SIC 2007:

4672 - Wholesale of metals and metal ores

Business Description

Merchants and dealers in metals.

More Business Descriptions

Metal Merchants

Financial Data

Financials in:	GBP(mil)

Revenue:	38.8
Net Income:	0.2
Assets:	4.8
Current Assets:	4.8
Fixed Assets:	0.0
Long Term Debt:	0.0
Total Liabilities:	4.0
Issued Capital:	0.1
Working Capital:	0.9
Net Worth:	0.8

Date of Financial Data:	31-Dec-2011

1 Year Growth

28.1%

173.4%

Key Corporate Relationships

Auditor:	Sinclairs

Auditor:	Sinclairs

	GBP(mil)
Audit Fees:	0.0
Audit Fiscal Year:	12-31-2011

Corporate Family	Corporate Structure News:
	Aura Metals Ltd.
Aura Metals Ltd. Total Corporate Family Members: 2

Company Name	Company Type	Location	Country	Industry	Sales (USD mil)	Employees
Aura Metals Ltd.	Parent	London	United Kingdom	Miscellaneous Capital Goods	62.1	5
Aura Trade Services Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Capital Goods

Executive report

Board of Directors

Name

Title

Function

Anders Neil Axson

Director

Director/Board Member

Age: 39

Charles Anders Cohen

Director

Director/Board Member

Age: 70

Roger Olof Cohen

Director

Director/Board Member

Age: 61

Executives

Name

Title

Function

Angela Margaret Mead

Secretary

Company Secretary

Age: 48

Directors and Shareholders Report

Main Office Address:
9 Beauchamp Place
London
United Kingdom SW3 1NQ

Tel: 020 7052 0049
Fax: 020 7052 0112
URL:http://www.aurametals.co.uk

Annual Return Date: 25 Jan 2012
Total Issued Capital (GBP 000):75

Individual Directors

Name	Status	DOB	Filed Address	Appointment Date	Resignation Date	Summary of Directorships
Anders Neil Axson	Current	17 Sep 1973	9 Sinclair Road, West Kensington, London W14 0NS	09 Feb 2007	NA	Current:2 Previous:0 Disqualifications:0
Charles Anders Cohen	Current	16 Jun 1942	89 Peel Street, London , London W8 7PB	01 Feb 2001	NA	Current:2 Previous:2 Disqualifications:0
Roger Olof Cohen	Current	18 Feb 1951	31 Bracken Gardens, London , London SW13 9HW	10 Oct 2004	NA	Current:3 Previous:3 Disqualifications:0
Mark Anthony Roach	Previous	06 Oct 1961	Lockinex Works Hammonds Drive, Eastbourne, East Sussex BN23 6PW	25 Jan 2001	01 Feb 2001	Current:1 Previous:4 Disqualifications:0
Howard Barry Lambert	Previous	05 Mar 1946	White House High Cross, Aldenham, Watford, Hertfordshire WD2 8BN	01 Feb 2001	07 Dec 2001	Current:0 Previous:2 Disqualifications:0
David John Willis	Previous	26 Jul 1946	146 Highdown Drive, Littlehampton, West Sussex BN17 6HP	01 Feb 2001	31 Aug 2011	Current:0 Previous:1 Disqualifications:0

Corporate Directors

There are no corporate directors for this company.

Individual Secretaries

Name	Status	DOB	Filed Address	Appointment Date	Resignation Date	Summary of Directorships
Angela Mead	Current	18 Oct 1963	167 Southborough Lane, Bickley, Keston, Kent BR2 8AP	25 Jan 2001	NA	Current:13 Previous:11 Disqualifications:0

Corporate Secretaries

There are no corporate secretaries for this company.

Individual Shareholders

Name	Share Details (As Reported)	Share Type	# of Shares	Share Price (GBP)	Share Value (GBP)	% of Total Shares
Anders Axson	6000 Ordinary GBP 1.00	Ordinary	6,000	1.00	6,000.00	8.00
Barbara Astrid Axson	17500 Ordinary GBP 1.00	Ordinary	17,500	1.00	17,500.00	23.33
Charles Anders Cohen	22375 Ordinary GBP 1.00	Ordinary	22,375	1.00	22,375.00	29.83
Matthew Granger Galbraith	3750 Ordinary GBP 1.00	Ordinary	3,750	1.00	3,750.00	5.00
Roger Olof Cohen	25375 Ordinary GBP 1.00	Ordinary	25,375	1.00	25,375.00	33.83

Corporate Shareholders

There are no corporate shareholders for this company.

Annual Profit & Loss

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007
Period Length	52 Weeks	52 Weeks	52 Weeks	52 Weeks	52 Weeks
Filed Currency	GBP	GBP	GBP	GBP	GBP
Exchange Rate (Period Average)	0.623776	0.647573	0.641508	0.545576	0.499878
Consolidated	No	No	No	No	No

Total Turnover	62.1	46.7	27.1	-	62.6
Cost of Sales	60.3	45.4	26.1	-	60.5
Gross Profit	1.8	1.3	1.0	1.5	2.1
Depreciation	0.0	0.0	0.0	0.0	0.0
Other Expenses	1.3	0.9	0.7	1.3	1.5
Operating Profit	0.5	0.4	0.2	0.3	-
Other Income	0.0	0.0	0.0	0.0	0.1
Interest Paid	0.1	0.0	0.0	0.1	0.1
Exceptional Income	0.0	0.0	0.0	0.0	0.0
Discontinued Operations	0.0	0.0	0.0	0.0	0.0
Profit Before Taxes	0.4	0.4	0.2	0.2	0.7
Tax Payable / Credit	0.1	0.1	0.0	0.1	0.1
Extraordinary Items/Debits	0.0	0.0	0.0	0.0	0.0
Dividends	0.1	0.0	0.0	0.0	0.0
Profit After Taxes	0.3	0.2	0.1	0.1	0.5
Minority Interests (Profit & Loss)	0.0	0.0	0.0	0.0	0.0
Audit Fees	0.0	0.0	0.0	0.0	0.0
Number of Employees	5	5	5	5	5
Wages	0.6	0.5	0.3	0.4	0.7
Social Security Costs	0.1	0.1	0.0	0.0	0.1
Pensions	0.0	0.0	0.0	-	0.5
Other Pension Costs	0.0	0.0	0.0	0.2	0.5
Employees Remuneration	0.7	0.6	0.4	0.7	1.3
Directors Emoluments	0.6	0.6	0.4	-	0.7
Other Costs	0.0	0.0	0.0	-	0.0
Directors Remuneration	0.6	0.6	0.4	0.7	1.2
Highest Paid Director	0.3	0.2	0.2	0.2	0.5

Annual Balance Sheet

Financials in: USD (mil)

	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007
Filed Currency	GBP	GBP	GBP	GBP	GBP
Exchange Rate	0.643459	0.638712	0.619253	0.695531	0.502361
Consolidated	No	No	No	No	No

Land & Buildings	0.0	0.0	0.0	0.0	0.0
Fixtures & Fittings	0.0	0.0	0.0	0.0	0.0
Plant & Vehicles	0.0	0.0	0.0	0.0	0.0
Total Tangible Fixed Assets	0.0	0.0	0.0	0.0	0.0
Intangible Assets	0.0	0.0	0.0	0.0	0.0
Investments	0.0	0.0	0.0	0.0	0.0
Total Fixed Assets	0.0	0.0	0.0	0.0	0.0
Stocks	-	0.3	0.1	-	-
Work in Progress	-	0.0	0.0	-	-
Total Stocks Work In Progress	0.1	0.3	0.1	0.2	0.6
Trade Debtors	4.3	7.3	2.3	4.1	5.9
Inter-Company Debtors	-	-	0.0	-	-
Director Loans	-	-	0.0	-	-
Other Debtors	0.1	0.0	0.0	0.1	0.1
Total Debtors	4.3	7.4	2.4	4.1	6.1
Cash and Equivalents	3.1	0.3	0.5	1.2	1.1
Other Current Assets	0.0	0.0	0.0	0.0	0.0
Total Current Assets	7.5	7.9	3.0	5.5	7.7
Total Assets	7.5	8.0	3.0	5.5	7.7
Trade Creditors	3.0	5.6	1.3	3.6	4.7
Bank Overdraft	2.4	0.5	0.6	1.0	1.0
Inter-Company Creditors	0.0	0.0	0.0	-	0.0
Director Loans (Current Liability)	0.0	0.0	0.0	0.0	0.7
Hire Purchase (Current Liability)	0.0	0.0	0.0	-	0.0
Finance Lease (Current Liability)	0.0	0.0	0.0	-	0.0
Total Finance Lease/Hire Purchase (Current Liability)	0.0	0.0	0.0	-	0.0
Total Short Term Loans	0.0	0.0	0.0	-	0.0
Accruals/Deferred Income (Current Liability)	0.7	0.6	0.2	0.3	0.3
Social Security/VAT	0.0	0.1	0.0	0.0	0.0
Corporation Tax	0.1	0.1	0.1	0.0	0.1
Dividends (Current Liability)	-	0.0	0.0	-	0.0
Other Current Liabilities	0.0	0.0	0.0	0.0	0.0
Total Current Liabilities	6.2	6.9	2.2	5.0	6.9
Group Loans (Long Term Liability)	0.0	0.0	0.0	0.0	0.0
Director Loans (Long Term Liability)	0.0	0.0	0.0	0.0	0.0
Hire Purchase (Long Term Liability)	0.0	0.0	0.0	0.0	0.0
Leasing (Long Term Liability)	0.0	0.0	0.0	0.0	0.0
Total Hire Purchase Loans (Long Term Liability)	0.0	0.0	0.0	0.0	0.0
Other Long Term Loans	0.0	0.0	0.0	0.0	0.0
Accruals/Deferred Income (Long Term Liability)	0.0	0.0	0.0	0.0	0.0
Other Long Term Liabilities	0.0	0.0	0.0	0.0	0.0
Total Long Term Liabilities	0.0	0.0	0.0	0.0	0.0
Deferred Taxation	0.0	0.0	0.0	0.0	0.0
Other Provisions	0.1	0.0	0.0	0.0	0.1
Total Provisions	0.1	0.1	0.0	0.0	0.1
Issued Capital	0.1	0.1	0.1	0.1	0.1
Share Premium Accounts	0.0	0.0	0.0	0.0	0.0
Revaluation Reserve	0.0	0.0	0.0	0.0	0.0
Retained Earnings	1.2	0.9	0.7	0.5	0.6
Other Reserves	0.0	0.0	0.0	0.0	0.0
Minority Interests (Balance Sheet)	0.0	0.0	0.0	0.0	0.0
Total Shareholders Funds	1.3	1.0	0.8	0.6	0.7
Net Worth	1.3	1.0	0.8	0.6	0.7

Annual Cash Flows

Financials in: USD (mil)

	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007
Period Length	52 Weeks	52 Weeks	52 Weeks	52 Weeks	52 Weeks
Filed Currency	GBP	GBP	GBP	GBP	GBP
Exchange Rate (Period Average)	0.623776	0.647573	0.641508	0.545576	0.499878
Consolidated	No	No	No	No	No

Net Cash Flow From Operating Activities	-	0.0	-0.2	1.1	-1.4
Net Cash Flow from ROI and Servicing of Finance	-	0.0	0.0	-0.1	-0.1
Taxation	-	-0.1	0.0	-0.1	0.0
Capital Expenditures	-	0.0	0.0	0.0	0.0
Acquisitions and Disposals	-	0.0	0.0	0.0	0.0
Paid Up Equity	-	0.0	0.0	0.0	0.0
Management of Liquid Resources	-	0.0	0.0	0.0	0.0
Net Cash Flow From Financing	-	0.0	0.0	-0.6	0.0
Increase in Cash	-	-0.1	-0.3	0.2	-1.5

Annual Ratios

Financials in: USD (mil)

	31-Dec-2011	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007
Period Length	52 Weeks	52 Weeks	52 Weeks	52 Weeks	52 Weeks
Filed Currency	GBP	GBP	GBP	GBP	GBP
Exchange Rate	0.643459	0.638712	0.619253	0.695531	0.502361
Consolidated	No	No	No	No	No

Current Ratio	1.22	1.15	1.38	1.11	1.11
Liquidity Ratio	1.20	1.12	1.34	1.08	1.03
Stock Turnover	496.82	187.12	270.64	-	107.19
Credit Period (Days)	25.79	56.42	30.52	-	34.78
Working Capital by Sales	2.23%	2.25%	2.94%	-	1.26%
Trade Credit by Debtors	0.71	0.77	0.55	0.88	0.80
Return on Capital	31.30%	34.21%	28.44%	25.24%	79.97%
Return on Assets	5.64%	4.67%	8.03%	2.68%	8.43%
Profit Margin	0.71%	0.78%	0.86%	-	1.04%
Return on Shareholders Funds	32.85%	35.87%	29.63%	25.31%	91.87%
Borrowing Ratio	182.77%	47.82%	67.82%	179.87%	241.73%
Equity Gearing	17.18%	13.01%	27.09%	10.57%	9.17%
Interest Coverage	6.00	10.84	14.96	1.94	8.00
Sales by Tangible Assets	3,476.11	2,251.30	1,321.86	-	2,024.09
Average Remuneration per Employee	0.1	0.1	0.1	0.1	0.3
Profit per Employee	0.1	0.1	0.0	0.0	0.1
Sales per Employee	12.0	9.5	5.6	-	12.5
Capital Employed per Employee	0.3	0.2	0.2	0.1	0.2
Tangible Assets per Employee	0.0	0.0	0.0	0.0	0.0
Total Assets per Employee	1.5	1.6	0.6	1.1	1.5
Employee Remuneration by Sales	1.15%	1.30%	1.44%	-	2.07%
Creditor Days (Cost of Sales Based)	18.80	44.75	17.29	-	28.78
Creditor Days (Sales Based)	18.25	43.49	16.66	-	27.80

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.53.29
UK Pound	1	Rs.86.44
Euro	1	Rs.68.95

INFORMATION DETAILS

Report Prepared by :

MNL

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	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
----	NB	New Business	----

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

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.