COPY OF FINAL PROSPECTUS - Mirabela Nickel

MIRABELA NICKEL LIMITED
BALANCE SHEETS
For the year ended 30 June 2006
Consolidated
The Company
Notes 2006 2005 2006 2005
(AUD) (AUD) (AUD) (AUD)
Assets
Cash and cash equivalents ............................. 8 6,427,797 1,762,998 6,015,625 1,736,806
Trade and other receivables ............................ 9 767,535 87,055 156,934 71,148
Total current assets ................................... 7,195,332 1,850,053 6,172,559 1,807,954
Investments ...................................... 10 — — 9,488,366 3,283,085
Property, plant and equipment .......................... 11 286,718 118,663 126,531 99,023
Exploration and evaluation expenditure ..................... 12 13,494,371 4,555,681 — —
Total non-current assets ................................ 13,781,089 4,674,344 9,614,897 3,382,108
Total assets ........................................ 20,976,421 6,524,397 15,787,456 5,190,062
Liabilities
Trade and other payables .............................. 13 474,539 228,417 454,870 227,573
Provisions ........................................ 15 12,549 — 12,549 —
Total current liabilities ................................. 487,088 228,417 467,419 227,573
Total liabilities ...................................... 487,088 228,417 467,419 227,573
Net assets ......................................... 20,489,333 6,295,980 15,320,037 4,962,489
Equity
Issued capital ..................................... 16 20,062,514 6,447,097 20,062,514 6,447,097
Reserves ........................................ 17 1,973,320 469,624 243,059 720
Accumulated losses .................................. (1,546,501) (620,741) (4,985,536) (1,485,328)
Total equity ........................................ 20,489,333 6,295,980 15,320,037 4,962,489
The accompanying notes form part of these financial statements.
F-6