COPY OF FINAL PROSPECTUS - Mirabela Nickel

MIRABELA NICKEL LIMITED
NOTES TO FINANCIAL STATEMENTS (Continued)
For the year ended 30 June 2006
23. RELATED PARTIES (Continued)
Held at Exercise of Held at
Executives — 2005 1 July 2004 Purchases options Sales 30 June 2005
Brett Mitchell ............................. — — — — —
— — — — —
No shares were granted to key management personnel during the reporting period as compensation.
The movement during the reporting period in the number of Performance Shares in Mirabela Nickel Limited held, directly, indirectly or
beneficially, by each key management person, including their related parties, is as follows:
Eliminated on
Held at conversion to Held at
Directors and executives — 2006 1 July 2005 Purchases ordinary shares Sales 30 June 2006
Bill Clough ............................... 4,000 — 4,000 — —
Craig Burton ............................. 3,000 — 3,000 — —
Nick Poll ................................ 1,000 — 1,000 — —
Brett Mitchell ............................. — — — — —
8,000 — 8,000 — —
Eliminated on
Held at conversion to Held at
Directors and executives — 2005 1 July 2004 Purchases ordinary shares Sales 30 June 2005
Bill Clough ............................... 4,000 — — — 4,000
Craig Burton ............................. 3,000 — — — 3,000
Nick Poll ................................ 1,000 — — — 1,000
Brett Mitchell ............................. — — — — —
8,000 — — — 8,000
On 27 February 2006 all of the 11,000 fully paid Performance Shares were converted to ordinary shares, as the vesting hurdle to enable
conversion had been satisfied.
Changes in key management personnel in the period after the reporting date and prior to the date when the financial report is
authorised for issue
There were no changes in key management personnel in the period after the reporting date and prior to the date when the financial
report is authorised for issue.
Other related party transactions
In the current year, further investments were made by the Company to a wholly owned subsidiary for capital purchases. During the
financial year ended 30 June 2006, the investment in the subsidiary totalled $9,488,366 (2005: $3,283,085).
24. SUBSEQUENT EVENTS
The Company announced on 28 August 2006 that it had completed a placement of nine million ordinary shares at $1.25 each to raise
$11.25m with institutional investors from Australia and the United Kingdom. The funds raised will be used to fund additional drilling
programs directed to increase the Santa Rita resource, working capital for completion of the bankable feasibility study and the ordering
of long lead time items such as a grinding circuit.
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