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White Energy Releases 2010 Annual Report & Highlights

Friday, October 29th, 2010

2010 Highlights:

• Commissioning of their first 1 Mtpa coal upgrading plant
• Strengthening of balance sheet through an oversubscribed A$100M capital raising
• Sale of first shipment of upgraded coal from their first 1 Mtpa upgrading plant
• Entry into the S&P/ ASX-200
• Acquisition of South Australian Coal Limited and associated capital raising of up to A$135M
• Appointment of coal industry leading Board and Management team
• Established strong foundations for a diversified coal company with a unique offering

2011 Targets:

• Sale of commercial quantities of upgraded coal
• Endorsement of their upgraded coal by Asian utilities and consumers
• Submission of Clean Air Permits in Wyoming for the Buckskin & Peabody projects
• Feasibility study for the Jefferson Riverport Plant in Kentucky, USA
• Proceed with expansion of capacity for the Bayan joint venture to 5 Mtpa
• Commence a South African coal fines upgrading project
• Exploration of the South Australian Coal Limited resource
• Pursue further coal asset acquisition opportunities.

Further information can be accessed on the company website.
(Ref 1995)

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