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Indonesian Coal Limited

Indonesian Coal Limited. August 2012. 1. Worldwide Mining Group. Team. Mission. Indonesian Coal. Strong team of Industry professionals with, proven records in project generation, financing, mine operation and corporate governance . Strategy:

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Indonesian Coal Limited

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  1. Indonesian Coal Limited August 2012

  2. 1. Worldwide Mining Group Team Mission Indonesian Coal Strong team of Industry professionals with, proven records in project generation, financing, mine operation and corporate governance . Strategy: Seek Grassroots to Brownfields level projects in the Asian Region with an initial focus on Indonesia; Utilise management’s mining industry experience; Rapidly identify, evaluate and acquire suitable projects; Add value via drill-out and BFS; Expand project areas; and Develop to JORC Resource/Reserve status then decide whether to mine or sell. The Group, thru its 50% subsidiary Indo Coal, acquired 100% of the Sokal Coal Project in South Kalimantan in September 2011 for $3.0 M. Historic data for 65 shallow holes was acquired. An initial 66 holes totalling 4,500 meters drilled by Indo Coal this year. Interim JORC Resource of 14Mt so far supports 25Mt+ originally estimated. Funding required to finish the JORC upgrade/conversion and license renewals.

  3. 2. Board & Management MILAN JERKOVIC – Chairman • Chief Executive Officer of Straits Resources. • Over 25 years of experience in the mining industry involving resource evaluation, operations, financing, acquisition, project development and general management. • Held positions with WMC, BHP, Nord Pacific, Hargraves, Tritton and Straits Asia. • Member of the Australian Institute of Mining and Metallurgy and a member of the Australasian Institute of Company Directors. • B. App. Sc (Geology), Post Graduate Diploma (Mineral Economics), Post Graduate Diploma (Mining). RON HEEKS – Managing Director • 24 years mining industry experience. • Founding partner in Exploration and Mining Consultants. • Previously worked for WMC, Newmont and RSG Consulting. • Former GM Technical for Straits Asia Indonesian Operations and Chief Technical Officer for Adamus Resources • B. App. Sc (Geology). MARK BOJANJAC – Non Exec Director • Over 20 years direct experience in developing resource companies. • A founding director of a gold company sold for A$50m. • Co-founded a 3.0moz gold project in China; sold for US$180M. • MD of a public company which successfully developed and financed a 2.4moz gold resource in Mongolia. • Most recently CEO of Adamus Resources and oversaw its advancement from an early stage exploration project through definitive feasibility studies, and managed the debt and equity financing of its recently commissioned $100m mine which was completed within 12 months. • B. Com CA.

  4. 2. Board & Management • JIM CARTER – Non Exec Director • 16 years’ experience in resources sector, in Indonesia, Singapore & Australia specifically in M&A, debt financing & equity raisings. • Key roles included CFO for SGX listed coal producer Straits Asia Resources, CFO and Company Secretary for ASX listed Straits Resources and commercial manager for the Sebuku coal operation in Indonesia. • 10 years’ experience in Indonesia including involvement with the IPO of thermal coal producer Straits Asia Resources, acquisition of the Jembayan coal operation and Sebuku northern leases as well various associated debt and equity raisings in Asia & Australia. • B. Bus, CPA Post Graduate Diploma in Applied Corporate Governance. JOHN LEWIS – Director/Co. Secretary/CFO • B. Bus, CA, Grad Cert. Forensic Studies (Accounting). • Chartered Accountant with 20 years’ post qualification experience working predominantly in corporate reorganisation, a specialising in the mining industry for the last 10 years. • Previously worked in Corporate Advisory at Deloitte. John has worked on a number of mining projects including restructuring the business for sale and managing the operations of Croesus Resources NL (now Central Norseman Gold Mines PLC). • Former Director and Company Secretary of ASX Listed Dragon Mountain Gold Ltd. • PRAYOGO HARGYONO–Geology Manager • Exploration experience in many commodities including over 15 years of field experience in Asia. • Held positions with Pelsart, Borneo Gold Corporation of Canada, North Limited, Straits Resources, Anglo American and Ivanhoe Mines. • As Head of Exploration for Straits Resources between 2003 -2007 he was responsible for delineating sufficient resources to restart and maintain production at the Mt Muro Gold Operation and for the massive expansion of the coal resources at the Sebuku Coal Operation. Later with Anglo American, Mr Hargyono was Chief Geologist responsible for Porphyry Copper exploration on Mindanao Island in the Philippines. • Geological Engineering, Gadjah Mada University, Yogyakarta.

  5. 2. Board & Management Chairman MILAN JERKOVIC Indonesia based Managing Director/Technical Director RON HEEKS Director/Co. Sec JOHN LEWIS Non Exec. Director MARK BOJANJAC Non Exec. Director JIM CARTER Office Manager LISA LEWIS Executive Assistant Melanie Martin Geology Manager Indonesia Prayogo Hargyono Gov. Liaison SUNDERAGEN Senior Geologist SEMUEL POPANG KELIK PRASETYO GIS Co-Ordinator EKO SUPRIONO Accountant Officer LINGKAN PAGALA Secretary LINNY KAESANG Transport SUTOPO Logistic DJONLY DATU Geologist GANDI NURISTIAWAN TRI WAHYUNA Office Assistant AJI ROSMAYANTI

  6. 3. Indonesian Coal - Corporate Structure Current Indonesian Coal Shareholding Corporate Structure Indonesian Coal Ltd (Australia) Issued Shares 76,000,000 Options (exc. 12.5 cents) 1,140,000 100% Sokal Pte Ltd (Singapore) 100% PT Sega Bara Persada (Indonesia) 100% Sokal Project

  7. 4. Sokal Project Sokal Project • Thermal coal deposit in South Kalimantan , Indonesia. • Owned by Indo Coal’s 100% subsidiary, PT Sega Bara Persada (”PT SBP”); • a PMA coy, able to be 100% owned by non-Indonesians. • IUP Production licence (200ha). • IUP Exploration licence (947ha). • Coal seams are shallow dipping (5°-12°) near surface, low strip-ratio and readily amenable to open cut mining. • Surrounded by existing producers; • Adjacent mining of ~6Mtpa. • Nearby mining of ~75Mtpa. • Advanced discussions with neighbours; • Sharing data. • Potential acquisition/expansion. • Potential mine-gate coal sales. • Excellent coal mining logistics and infrastructure.

  8. 4. Sokal Project

  9. 4. Sokal Project - Sections 3D Fly-by presentation

  10. 4. Sokal Project • INTERIM JORC RESOURCE • 14Mt from 66 new holes so far • Best section yet to be drilled with 7 identified seams • 70-80 remaining holes to complete program • ~6 weeks to complete • In line with our 25Mt+ estimate

  11. 4. Sokal Project Coal Quality • Coal quality expected to be 5,100 – 5,800 Kcal (adb). • Based on; • Test pit sampling by Indo Coal. • PT TIA operating directly east of the Sokal Project. • RKW mining directly south.

  12. 4. SokalProject Exploration Potential • Initial exploration targets on Indo Coal tenements; • 7-10Mt from the IUP Production (Mining Licence). • 25- 50Mt from the IUP Exploration Licence. • Shallow dipping seams of 5° to 12°; • Untested shallow mining of undrilled seam(s) on southern boundary. • Potential deeper seam of up to 25m thickness as mined directly to the east. Budget **Will bring SOKAL project to Decision to Mine Status.

  13. 4. Sokal Project – Infrastructure Existing Infrastructure • Multiple haul road options on tenure. • 3 multi-user port facilities within 40km. • Experienced mining contractors operating nearby. • Well serviced road and air network. • Multi-user wash plants located nearby if required. • Negotiating use of existing haul roads and port facilities. • Contract earthmoving, haulage and port facilities. • Possible mine-gate sale to neighbouring operators. (discussions commenced) Proposed Infrastructure Solution

  14. 5. Sokal Project - Development Plan Past 9 months • Purchased Sokal; • Completed due diligence; • Now 100% owned by PMA company; • Acquired & analysed historical drilling data. • Opened discussions to acquire tenure to north and south; • Commenced drilling in March 2012; • Reviewed 150+ potential new coal projects; • Currently undertaking due diligence to acquire further coal projects in Indonesia. • Significant progress made on permitting; • Resource Modelling up to date; • Initial Engineering cost study completed; • EPA approvals progressing; and • Lodged all license renewal documents. • Indonesian Management Team

  15. 5. Sokal Project - Development Plan Expected Parameters Status • Initial work consistent with Scoping Study parameters. • Independent consultants appointed for BFS; • Interim Resources up to date. • Reserve calculation on drill completion. • Engineering Studies and costing analysis commenced. • Mine scheduling work underway. • Opex estimate verification commenced and ongoing. • Infrastructure use discussions commenced. • Decision to mine or trade sale 4Q 2012 • BFS completion expected 4Q 2012 • Funding and off-take arrangements if req. 1Q 2013

  16. 5. Sokal Project - Development Plan

  17. 6. Peleng Island Project • Term sheet signed to undertake 6 month legal and technical DD; • Takeover for cash and Royalty per tonne; • Approx. 20,000 hectares; • Existing samples of 6000+ CV coal with low moisture; • Very poorly explored; • Identified by Mines Department mapping in 1998; • Little serious exploration since. • No systematic exploration undertaken; • Remote location east of Sulawesi; • Away from overpriced areas of Kalimantan. • Licences border coastline; • Excellent logistics for mining and shipping.

  18. 7. Indonesia Why Indonesia? • Large known coal resources – one of the world’s most productive. • Quality coal with a proven history. • Worlds largest exporter of thermal coal. • Proximal multi-user facilities for coal washing and handling. • Board & management expertise in Indonesian coal projects. • Experienced technical team based in Indonesia. • Experienced mine contractors and low cost workforce. • Mining Law now allows 100% project ownership. • “White Paper”: proposal that Indonesian partners buy 51% within 10 years at “fair market value”; • No changes have been implemented to date and may not be. • Up to 7% Government Royalty. • 25% Tax Rate (maximum). Mining Regime

  19. 8. Reasons To Invest IMMEDIATE TERM SHAREHOLDER VALUE

  20. Appendix Sebuku Case Study

  21. Sebuku Case Study 1996 • Straits purchases 80% for $26 million. • Resource of 20Mt, Reserve of 13Mt. • Mine commissioned. • 1.3Mtpa annual production. • Straits Asia IPO at S$0.72/share valuing Sebuku at S$750m. • Resource increased to 240Mt. • Further acquisition; • Increasing production from 1.5Mtpa to 10Mtpa over 3 years. • Straits Asia current market capitalisation of S$3.4 billion. • Share price of S$2.99. • Annual production increasing to 20Mtpa by 2014. 1998 2006 2011

  22. Contacts INDONESIAN COAL LIMITED www.worldwideminingprojects.com.au

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