Contel

Contel: Update on co's affairs. SSRG Group owns Lighthouse Quartz mine, one of world's largest high-purity silica mine, in Queensland and has been operational for several months with stockpile of over 30 tons and has started delivering to customers this quarter. Estimated reserves of 1.83m tons with mkt value of US$1,500 per ton. Co expects to extract 150k tons of silica in 2011 from mine…

Co owns another mine, Mourilyan Sands with est 6.739m tons in Queensland as well. Co's mining operations are materially unaffected by floods due to areas being 1000km north of Brisbane. Welcomes sg-based substantial shareholder Patrick Tan Choon Hock (8.67%), who has known stakes of slightly under 5% in Qian Feng and China Enersave through TS Marine. Possible further stakes but unconfirmed in China Enersave under Tan Choon Hock and other co Renewable Energy.