Sharenet Sites 
Sharenet Sites
FSE - Firestone Energy Limited - Operations Update FIRESTONE ENERGY LIMITED (formerly: Centralian Minerals 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") OPERATIONS UPDATE FSE/Sekoko is adamant that the proximity of infrastructure to its planned open cast coal mine will aid cost-competitiveness within the large Waterberg Coal Region in South Africa. Firestone Energy Limited (ASX /JSE : FSE) and its joint venture partner, Sekoko Coal (Pty) Ltd are confident that their project is the most cost competitive coal project second to Exxaro`s Grootgeluk. The FSE/Sekoko project is the closest to the existing infrastructure including water pipelines, electricity connection points and rail. The FSE/Sekoko mine being developed is only 5kms from Grootegeluk`s existing mine pit and also only 10kms away from the currently built Medupi Power station. These benefits provide cost effective propositions to potential off-takers such as Eskom`s Waterberg power stations especially if Eskom act on their strategy to develop and accept new coal suppliers in addition to the existing Grootegeluk Exxaro mine. The rail experts designing our rail spur have confirmed that the distance to connect to the existing Transnet Freight Rail (TFR) line is approximately 7kms using design parameters that comply with TFR`s requirements. The management of the FSE/Sekoko Waterberg project are confident that a relatively short distance such as this will not only be cost effective, but will also reduce time to implement the rail spur, reduce work on environmental compliance, require servitude from one external land owner and can be easily funded. Work has commenced on the Environmental Application for the rail link. The existing water pipeline from Mogol dam to Grootegeluk, Matimba Power station, serving Lephalale town passes approximately 15 kms away from the proposed initial pit. The second pipeline which will serve Medupi will also be installed in the vicinity. Negotiations have been concluded with Eskom power supply division to supply the main project with full power from commissioning, eliminating the need to use costly diesel generators. FSE/Sekoko`s main objective is to assist with maintaining energy security in South Africa. It is a bonus and a privilege that the FSE/Sekoko project can achieve this objective in a cost competitive manner resulting in consistent supply of electricity at relatively low prices and especially when the country has a shortfall of power requirements. Further information can be obtained by contacting the persons below on +61 (08) 9287-4600. John Dreyer Sizwe Nkosi Chairman Non Executive Director www.firestoneenergy.com.au About Firestone Energy Firestone Energy is an independent Australian exploration company focused on developing coal projects in South Africa. The company is currently exploring the richly endowed Waterberg coal field in Limpopo Province of South Africa. The Company is committed to value-added growth through becoming an independent coal and energy produces at its projects in South Africa. The Company has entered into three joint ventures with Sekoko Resources, a South African black empowerment company (BEE) and Sekoko has two directors on the Board of Firestone Energy. Corporate Details ASX: FSE Issued Capital: 2,401 million ordinary shares Major Sharholders: Sekoko Resources (Pty) Ltd Colbern Fiduciary Nominees Ltd Bell Potter Nominees Ltd Directors and Officers: John Dreyer (Chairman) Timothy Tebeila (Deputy Chairman) Colin McIntyre John Wallington Company Secretary Jerry Monzu Contact: Level1, 63 Hay Street Subiaco, Western Australia 6008 Tel: +61 (0)8 9381 2755 Web: www.firestoneenergy.com.au Pretoria 19 November 2010 Sponsor and Corporate Advisor River Group Date: 19/11/2010 08:07:01 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.
