kimberley right issue / ipo, page-5

67B

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Dear CBH Shareholder,
Distribution to CBH Shareholders of shares in Kimberley Metals Limited
I am pleased to enclose a Notice, Explanatory Statement and Proxy Form in respect of a meeting
of CBH shareholders to be held on Friday, 2 May 2008 to approve the pro rata distribution of
shares in Kimberley Metals Limited to CBH shareholders through an equal reduction of CBH’s
capital.
You will have already received a letter explaining a proposal, following the announcement last
week, for CBH to merge with Perilya Limited. This anticipates the Kimberley Metals spinout
taking place before the proposed merger.
The rationale for the spinout is that the Company considers certain of its advanced stage predevelopment
assets are not being properly valued in CBH and that they can receive sharper focus
and improved market recognition in a smaller company with the additional benefit that this will
enable CBH to devote more of its resources to its important mining and complementary
exploration interests. In negotiating the terms of the proposed merger with Perilya, CBH
considered the above rationale remained applicable and further, that the spinout of Kimberley
Metals would provide an additional benefit to CBH shareholders, whether or not the merger was
approved and became effective.
If the spinout is approved you will receive 1 Kimberley Metals share for approximately each
9.2 of your CBH shares. These shares will not be listed but Kimberley Metals will seek a listing
on an internationally recognised stock exchange, likely to be the ASX through an initial public
offering of its shares within 4 to 6 months of the spinout, subject to market conditions. Full
details are set out in the Explanatory Memorandum.
I commend the proposal to you and look foward to your support by either your vote in favour at
the meeting or by the completion and return of the Proxy Form enclosed.
Sincerely,
CBH RESOURCES LIMITED
Jim Wall