whsp, page-8

from SOL annual report


At 31 July 2011 WHSP had a 52.4% holding in CopperChem. Following conversion of its Class B shares into
ordinary shares in October 2011 WHSP’s holding increased to 93.4%. In addition, WHSP has provided funding to
CopperChem through loans, convertible loans and convertible notes. Once the convertible loans and notes convert
to shares, likely to be in the last quarter of this calendar year, WHSP’s holding in the company will increase further.

As at 31 July 2011 WHSP had invested $64.7 million in the project.

The first 6 months of the 2011-2012 financial year will see the final commissioning of the copper concentrate plant.
Plans are already being considered to double the capacity of this plant subject to suitable ore availability.