WIDESPREAD PORTFOLIOS LIMITED (WID) | Mining sector venture capital investor

Chris Castle, Managing Director

Widespread Portfolios Limited (stockmarket code WID) invests primarily in mining and mineral exploration companies. Most investments are held for the longer term although part of the portfolio (usually about 5%) is committed to shorter term share-trading activity.

Our investment strategy is aggressive and inherently risky - a large proportion of the portfolio is invested in high-growth-potential, second line stocks and a narrow range of stocks is held at any one time. Being a long term Widespread shareholder periodically requires intestinal fortitude......

STOP PRESS -

3 SEPTEMBER - CHATHAM RISE PRJECT UPDATE - SEE WIDESPREAD ENERGY NEWS, NZX ANNOUNCEMENTS and www.rockphosphate.co.nz

Key Investments

Rock Phosphate Project

Joint Venture (90% WEN, 10% WID)
Holds 4,726 square kilometre permit area over central Chatham Rise containing up to 100 million tonnes of rock phosphate
A key constituent of most NZ fertiliser
Studies indicate the rock phosphate can be extracted for less than import costs from Morocco.

Listed on Toronto Stock Exchange (TSX.V)
Developing a nickel mine in Vietnam, previously expected to be in production Q2 2009, now suspended until finance and/or tariff issues are resolved
Represents 25.8% of Widespread’s portfolio
Widespread holds 4.3% and is represented on the board

Listed on ASX (Australia)
Exploring for major base meal and gold deposits in inner Mongolia (China)
Represents 5.2% of Widespread’s portfolio
Widespread is the largest shareholder (11%) and is represented on the board

NZAX – NZ listed
Holds direct and indirect interests in 3 NZ and 3 Fiji based oil and gas prospecting permits
Represents 8 percent of Widespread’s portfolio
Is managed by Widespread Portfolios

NTA 49¢

Key stats as at 3 September

Security	Number on issue	Market price (cents)	Market Value ($M)	Net assets ($M)
Ordinary shares	23,490,449	14.1	3.312	11.4*
Market value discount	(ords only)		71.0%
Listed warrants	8,505,123	1.5	0.126

* Our ASN shareholding is now held for NTA disclosure purposes at a valuation of CAD 2.154 million based on our share of net assets. NTA per WID share valuing ASN at the current spot market price is 44.0 cents.