OVERVIEW

Rocklands Richfield Limited (RCI) controls a series of high grade coking and thermal coal deposits in the Bowen Basin of Queensland. The company's three projects - Rocklands, Richfield and Hillalong (proposed acquisition), comprise a mix from proven coal reserves, through to measured and inferred resources and a large area of high potential exploration targets.

The company is in a position to commence a final feasibility and project planning to commence open cut mining at Hillalong. The project requires an approved environmental impact study, an approved plan of operations and development consent. Also required will be access to rail infrastructure and port facilities for export.

BACKGROUND

Rocklands Richfield Limited was admitted to the official list of the Australian Stock Exchange Limited (“ASX”) on 30 October 2000, under its former name Australian Visual Communications Limited (“AVC”). The Company was floated to provide residential satellite telephony and microwave installation services. The Company after encountering difficulties in its business activities, requested a Trading Halt on 28 February 2003 when Mr Geoff McDonald and Mr Richard Albarran of Hall Chadwick Chartered Accountants, were appointed as Administrators.

The Company ceased operating as a business and its assets and trading operations were disposed of. The Company is currently suspended from trading on the ASX.

RECENT ACTIVITIES

On 13 September 2004 Shareholders at a General Meeting approved the issue of 29.5 Million Ordinary Shares for $210,000 to be paid under the terms of the Deed of Company Arrangement. By the payment of $210,000 AVC was released from Administration and a distribution was made to its creditors.

Furthermore, London and Country Pty Limited (a company associated with three of the RCI directors) under took to bear any other costs of bringing AVC out of Administration.

The New Board of Directors elected at the AVC Shareholders' Meeting of the 13 September 2004 were:
Chairman E. Lee
Director J. Tan
Director K.F. Chye

Since that time the directors have successfully negotiated on behalf of the Company the acquisition of several mining interests in the Bowen Basin in North Queensland, details of which are outlined in Section 2 of this Prospectus and in more detail in the Independent Experts Report contained in Section 5 of the Prospectus.

On 1 March 2005 the Company changed its name to Rocklands Richfield Limited and on 8 March 2005, Matthew Abrahams was appointed to the Board.

The Company came out of Administration on 19 August 2005 following the presentation of the final accounts by the Administrators. It is the Company's intention to apply for re-quotation on the ASX. The Company’s Shares have not traded since they were suspended on 28 February 2003.

A resolution was approved by Shareholders at the Company's AGM held on 21 December 2005 for a 2 to 1 consolidation of its issued capital. Post Consolidation, the Company will have 35,504,816 shares on issue.

On 21 December 2005, Mr Matthew Abrahams resigned as a director and Mr Ugo Cario was appointed to the Board, and also appointed as Chief Executive Officer of the Company.

On the 31st January, shareholders of the Company approved resolutions to;
(i) approve the capital raising pursuant to the terms of this Prospectus; and
(ii) change of name of the Company from Rocklands Richfield PCI Limited to Rocklands Richfield Limited.

On the 16th January the prospectus as approved was issued and a supplementary prospectus
containing additional explanatory details issued on the 23rd January.

Section 10 of the Prospectus contains a summary of all announcements made by the Company since 1 January 2003. While the Company has been suspended from trading it is an ongoing disclosing entity of the ASX. Copies of these announcements may be obtained from the ASX website.

BACK TO TOP