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Independent Experts Opinion
FIRESTONE ENERGY LIMITED
(Incorporated in Australia)
(Registration number ABN 058 436 794)
Share code on the JSE Limited: FSE
Share code on the ASX: FSE
ISIN: AU000000FSE6
(SA company registration number 2008/023973/10)
("FSE" or "the Company") About Firestone Energy
Firestone Energy Limited is an
11 April 2013
independent, Australian exploration and
development company listed on the
Australian Stock Exchange Ltd (ASX) and
Independent Experts Opinion the Johannesburg Stock Exchange (JSE).
Firestone Energy has entered into a Joint
Venture with Sekoko Resources (Pty) Ltd
through which Firestone Energy has
Firestone Energy Limited (ASX/JSE: FSE) (the “Company” or “Firestone”) wishes acquired the right to 60% participation
to draw Shareholders attention to the updated Independent Experts Report by interests in the Waterberg Coal Project
Deloitte Corporate Finance Pty Limited (Deloitte), as attached to this located in Lephalale area, Limpopo Province,
announcement. The opinion by Deloitte on the Supplementary Bidders Statement South Africa.
(“Offer”), served on the Company on 27 March 2013, by Range River Gold Limited
(“RNG”), was inadvertently omitted from yesterdays announcement. The first stage of the project is to develop the
Smitspan mine which has a substantial
measured thermal coal resource and to
All Firestone announcements are available on the Company’s website
develop the Vetleegte mine which is a
on www.firestoneenergy.com.au and via www.asx.com.au.
substantial metallurgical coal deposit.
Shareholders can also receive further information on the Offer by calling the Firestone Energy is committed to becoming a
Firestone shareholder information line on: 1800 643 977 or for international profitable independent coal and energy
calls +61 2 8256 3363. producer at its projects in South Africa,
thereby making a substantial contribution to
Yours sincerely, the social and economic development of the
Lephalale area and South Africa.
Corporate Details
ASX: FSE
David Knox JSE: FSE
Chief Executive Officer Issued Capital:
www.firestoneenergy.com.au 3,549 million ordinary shares
Tel: Australia (+61 08 9287 4600)
South Africa (+27 11 706 3548) Major Shareholders:
Sekoko Resources (Pty) Ltd
Linc Energy Ltd
BBY Nominees Pty Ltd
Bell Potter Nominees Ltd
Directors and Officers
Non Executive Directors:
Mr Tim Tebeila (Chairman)
David Perkins (Deputy Chairman)
Dr Pius Kasolo
Ben Mphahlele
Kobus Terblanche
Oren Zohar
Jack James
Officers:
Mr David Knox CEO
Ms Amanda Matthee CFO
Mr Jerry Monzu Company Secretary
Contact:
Suite B9, 431 Roberts Road
Subiaco, Western Australia 6008
Tel: +61 (08) 9287 4600
Deloitte Corporate Finance Pty Limited
ACN 003 833 127
AFSL 241457
Woodside Plaza
Level 14
240 St Georges Terrace
Perth WA 6000
GPO Box A46
Perth WA 6837 Australia
Tel: +61 8 9365 7000
Fax: +61 8 9365 7001
www.deloitte.com.au
Independent Directors
Firestone Energy Limited
Suite B9, 431 Roberts Road
Subiaco 6008 WA
10 April 2013
Dear Directors
Re: Range River Takeover Offer for Firestone
On 7 March 2013, Deloitte Corporate Finance Pty Limited (Deloitte) issued an independent expert’s report (IER) in
relation to the Takeover Offer for Firestone Energy Limited (Firestone) by Range River Gold Limited (Range River).
Our opinion was that the Takeover Offer was neither fair nor reasonable to non-associated Firestone shareholders.
Regulatory Guide 112 issued by the Australian Securities and Investments Commission requires us to consider all new
information that may have a material impact on our opinion subsequent to its issue.
Range River released supplementary Bidder’s Statements on 19 March 2013 (First Supplementary Bidder’s Statement)
and 27 March 2013 (Second Supplementary Bidder’s Statement). Range River has made a number of other public
announcements providing additional information and updates on related matters. The key matters set out in the First
Supplementary Bidder’s Statement were fully considered in our IER as they were originally announced via the Range
River notice of general meeting issued on 21 February 2013.
The Second Supplementary Bidder’s Statement and the other public announcements are referred to as the New
Information. We have considered the New Information and have completed our analysis of the effect of the New
Information on our opinion.
Our opinion has not changed and remains that the Takeover Offer is neither fair nor reasonable to non-associated
Firestone shareholders.
Yours faithfully
Nicki Ivory
Director
Deloitte Corporate Finance Pty Limited
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member
firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/au/about for a detailed description of the legal
structure of Deloitte Touche Tohmatsu Limited and its member firms.
Member of Deloitte Touche Tohmatsu Limited
Johannesburg
11 April 2013
Sponsor
River Group
Date: 12/04/2013 07:05:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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