COPY OF FINAL PROSPECTUS - Mirabela Nickel

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MIRABELA NICKEL LIMITED NOTES TO FINANCIAL STATEMENTS (Continued) For the six months ended 31 December 2006 7. CAPITAL AND RESERVES The consolidated entity recorded the following amounts within shareholder’s equity as a result of the issuance of ordinary shares: For the six months ended 31 December 2006 Ordinary shares Number of shares Issue price AUD 1-Jul-2006 Opening balance .............................. 65,950,000 20,687,000 18-Aug-2006 Issue of ordinary shares fully paid .................... 6,000,000 $1.250 7,500,000 23-Aug-2006 Issue of ordinary shares fully paid .................... 3,000,000 $1.250 3,750,000 31-Oct-2006 Options converted ............................. 500,000 $0.200 100,000 6-Nov-2006 Options converted ............................. 500,000 $0.200 100,000 29-Dec-2006 Issue of ordinary shares fully paid .................... 11,300,000 $2.100 23,730,000 Closing balance ............................... 87,250,000 55,867,000 Less share issue costs: Opening balance ..................................................... (624,486) Current year costs .................................................... (255,676) Share issue costs at the end of the year ....................................... (880,162) 54,986,838 For the six months ended 31 December 2005 Ordinary shares Number of shares Issue price AUD 1-Jul-2005 Opening balance ............................... 37,150,000 6,436,097 1-Oct-2005 Share issue ................................... 2,200,000 $0.600 1,320,000 16-Dec-2005 Share issue ................................... 1,000,000 $0.800 800,000 31-Dec-2005 Closing balance ................................ 40,350,000 8,556,097 Convertible performance shares 1-Jul-2005 Opening balance ............................... 11,000 11,000 31-Dec-2005 Closing balance ................................ 11,000 11,000 Less: Share issue costs ...................................................... (8,578) 8,558,519 No dividends were paid by the consolidated entity. 8. SHARE-BASED PAYMENTS During the six months ended 31 December 2006 no options were issued under the Company’s share option plan. For the six months ended 31 December 2006, the consolidated entity recognised an expense of $86,149 (six months ended 31 December 2005: $126,336), which reflects the vesting of previously issued share options. The basis for measuring fair value is consistent with that disclosed in the consolidated financial report as at and for the year ended 30 June 2006. 9. RELATED PARTIES Arrangements with related parties continue to be in place. For details on these arrangements, refer to the 30 June 2006 annual financial report. 10. SUBSEQUENT EVENTS On 31 January 2007 shareholders approved the issue of 1,200,000 shares, being tranche 2 of the December 2006 private placement. Proceeds of $2,520,000 were received by the Company and the shares allotted on 1 February 2007. FF-7
CERTIFICATE OF THE COMPANY Dated: April 23, 2007 The foregoing constitutes full, true and plain disclosure of all material facts relating to the securities offered by this prospectus as required by Part 9 of the Securities Act (British Columbia), Part 9 of the Securities Act (Alberta), Part XI of The Securities Act, 1988 (Saskatchewan), Part VII of The Securities Act (Manitoba), Part XV of the Securities Act (Ontario), Section 74 of the Securities Act (New Brunswick), Section 63 of the Securities Act (Nova Scotia), Part II of the Securities Act (Prince Edward Island) and Part XIV of the Securities Act (Newfoundland and Labrador) and the respective regulations thereunder. (Signed) NICHOLAS POLL Chief Executive Officer and Managing Director (Signed) STEPHEN HILLS Chief Financial Officer and Corporate Secretary ON BEHALF OF THE BOARD OF DIRECTORS (Signed) WILLIAM CLOUGH Director (Signed) CRAIG BURTON Director C-1
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ABN 23 108 161 593 Ground⋅Floor,
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(continued from cover) Unless other
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FORWARD-LOOKING STATEMENTS This pro
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PROSPECTUS SUMMARY The following is
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Recent Developments: Drilling and E
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Summary of Financial Information: M
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CORPORATE STRUCTURE Mirabela Nickel
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The Santa Rita Project The Santa Ri
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which a final exploration report ha
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and R$4.2 million, payable in insta
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esources by holders of mining conce
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Management believes this mineraliza
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THE NICKEL MARKET The following sum
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27MAR200712114903 Source: World Bur
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A mining concession may only be gra
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Property Description The Santa Rita
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Accessibility, Climate, Local Resou
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25MAR200710211038 The ultramafic zo
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completed in October 2006. The RC d
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sample of approximately two kilogra
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Metallurgy The Santa Rita deposit c
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Operating Costs GRD Minproc estimat
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Fazenda Palestina Intrusion The Faz
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The Ponto Novo project area consist
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elating to the Shares computed in a
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wish to change registers and trade
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Selected Annual Financial Informati
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The carrying value of mineral prope
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Finance Activities, Liquidity and C
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Disclosure of Shareholding Informat
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PRICE RANGE AND TRADING VOLUME OF S
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Management The following is a brief
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faith with a view to the best inter
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Aggregated Options Exercised During
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markets and may also be terminated
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Mirabela currently depends heavily
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disposal of solid and hazardous was
Page 75 and 76: Stock Exchange Prices The market pr
Page 77 and 78: MATERIAL CONTRACTS Except for contr
Page 79 and 80: GLOSSARY OF TECHNICAL TERMS The fol
Page 81 and 82: mackinawite ............. magmatic
Page 83 and 84: Mirabela Nickel Limited Consolidate
Page 85 and 86: AUDITOR’S REPORT IN RESPECT OF CO
Page 87 and 88: MIRABELA NICKEL LIMITED STATEMENTS
Page 89 and 90: MIRABELA NICKEL LIMITED STATEMENTS
Page 91 and 92: MIRABELA NICKEL LIMITED NOTES TO FI
Page 121 and 122: MIRABELA NICKEL LIMITED INCOME STAT
Page 123 and 124: MIRABELA NICKEL LIMITED BALANCE SHE
Page 125: MIRABELA NICKEL LIMITED NOTES TO FI
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COPY OF FINAL PROSPECTUS - Mirabela Nickel

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