Widespread Portfolios - NZX Announcements

Widespread's King Solomon Mines announces good results

2012-01-22T22:03:00Z

New Zealand Exchange Limited
P.O. Box 2959
Wellington

23 January 2012

Dear Sir,

King Solomon announces good results at Bu Dun Hua

China based King Solomon Mines (“KSO”) is Widespread’s third largest investment, and represents 3.7% of our total assets at its present market value of AUD 4.5 cents a share. We are the largest individual shareholder in KSO with a holding of 5.1%.

KSO made the announcement below in Australia earlier today.

For and on behalf of the Board,

Chris D Castle

Onekaka, 23 January 2012

King Solomon Mines Limited

POSITIVE results at

BDH porphyry copper project

KSO's 2011 field program at Bu Dun Hua (BDH) ended with encouraging results from BDH028, a 508m diamond drill-hole targeting the circular Ghenghis magnetic anomaly.

From approximately 150m down-hole to termination at approximately 440m below surface, the hole encountered twenty intercepts of clearly anomalous copper hosted in rhyolite porphyry or breccia.

Not only is this the first appearance of significant copper outside of the nearby Whitehorse porphyry discovered by KSO in 2010, but it is associated with a positive eastward trend (from Whitehorse) of porphyry mineralisation indicators including:

increasing sulphide levels;
increasing veining intensity;
increasing background gold levels;
increasing potassic alteration indicators
and decreasing intensity of phyllic (quartz-sericite) alteration over-print.

The drill-hole was exploring the northwest quadrant of the Ghenghis target as part of a 2011 scout program searching for mineralised porphyries outside of Whitehorse.

In addition, all of the holes in the proposed 2011 program could not be completed due to various drilling delays. Three remaining holes (Whitehorse Extended, Northern Deep and Eastern Deep) are all located within the promising eastward trend.

The Ghenghis anomaly is similar in size and shape to Whitehorse i.e. roughly circular with a diameter in the order of 700m. Both the Eastern and Northern Deep anomalies are significantly larger. Each of these targets has the space available to host a > 100Mt porphyry deposit.

Follow-up of the encouraging mineralisation and alteration results is proposed in the 2012 field season with drilling targeting the southeast quadrant at Genghis and extending deeper into the core of the target.

Stephen McPhail

Managing Director

King Solomon Mines Limited

PO Box 204-065

Highbrook

Auckland 2161

W. +644 905 9608

F. +644 905 9607

M. +6421 897 667

www.kingsolomonmines.com

Net Asset Backing Update

2011-12-29T20:40:00Z

New Zealand Exchange Limited
P.O. Box 2959
Wellington

30 December 2011

Dear Sir,

Widespread Portfolios Net Asset Backing

We wish to advise that the unaudited net asset backing per Widespread Portfolios share, as at 8 a.m. today is 55.7 cents.

NET ASSET BACKING PER SHARE	Per WID share	Per WID share
Investment	AMR at market	AMR at valuation
Oil and gas assets	0.022	0.022
Asian Mineral Resources (AMR)	0.032	0.103
Chatham Rock Phosphate (based on independent valuation)	0.399	0.399
King Solomon Mines	0.019	0.019
Other investments & cash	0.013	0.013
Total ($NZ per WID share)	0.486	0.557
Current WID share price	0.160	0.160
Discount to Net Asset Backing	67.1%	71.3%

Diluted Net Assets per share

The fully diluted NTA per WID share is $0.98 assuming the listed warrants are exercised @ $2.982 and the unlisted director-held warrants are exercised @ $3.282. All warrants expire on 30 June 2012.

Net asset data is also available on our website (www.widespread.co.nz) and is updated regularly. For more information on Chatham Rock Phosphate Limited see www.rockphosphate.co.nz.

For and on behalf of the Board,

Chris D Castle

Onekaka, 30 December 2011

Interim report for the six months to 30 September 2011

2011-11-29T03:14:00Z

Widespread Portfolios Limited

Interim Report

for the six months to 30 September 2011

Financial Results

Your directors submit the financial statements of Widespread Portfolios Limited for the six months to 30 September 2011.

The trading result for the period was a loss of $1,317,000 (6 months to 30 September 2010, $151,000 loss).

An analysis of the result is provided in the table below

	Six months to 30 Sept 2011 ($,000)	Six months to 30 September 2010 ($,000)
Gains on the sale of shares	7	59
Unrealised gains (losses) on trading stock		(8)
Other income	243	119
Total Income	250	170
Expenses	(266)	(277)
Net change in fair value of available for sale financial assets	(689)	-
Loss on disposal of available for sale investments	(547)
Share of CRP loss	(65)	(37)
Net Profit (loss) before income tax	(1,317)	(144)
Income tax	(7)	(7)
Net profit (loss) after tax	(1,324)	(151)

The increased loss for the period resulted from the quick sale of a number of investments in order to convert Chatham Rock Phosphate options into shares at 10 cents. These CRP shares have subsequently doubled in value.

Major Investments

Our remaining major investments are detailed in the table below on the basis of their market values as at the date of this report.

	Market Value or	Cents	Per cent
Investment	Indept. Valn ($M)	Per share	of total
Chatham Rock Phosphate	9.4	39.9	70.8%
Asian Mineral Resources	2.5	10.5	18.6%
Oil & Gas Assets	0.5	2.2	3.9%
King Solomon Mines	0.5	2.1	3.8%
Other investments and cash	0.4	1.7	2.9%
	13.3	56.4	100.0%

The valuation of shareholding in the Chatham Rock Phosphate is based on two independent company valuations prepared in March 2011 which were used as a basis for the sale of our 10% shareholding in the Chatham Rise project to Chatham Rock Phosphate Limited

All other listed assets are included at market values with the exception of Asian Minerals which (as has been the case for nine of the last eleven years) is currently included at directors’ valuation. This valuation is based on our share of Asian Minerals net assets and takes into account independent project valuation data, the strategic nature of the shareholding, our close association with the company (including board representation) and some management involvement.

Chatham Rock Phosphate Limited (“CRP”)

CRP recently announced a loss of $248,000 for the six months to 30 September 2011.

The increased deficit for the six months to 30 September 2011 reflected higher activity levels as the company moved into the second year work programme for the Chatham Rise Rock Phosphate Project.

CRP Operations Review

CRP is now a single project company, with the sole focus being the development of the rock phosphate deposit that sits within Mineral Prospecting Licence 50270 located on the central Chatham Rise.

The project now has significant momentum as milestones are being achieved across a range of initiatives. In the last 6 months there have been further developments on various fronts including operational matters, financing, and the proposed overseas listing.

Operational highlights

In recent months there has been an ongoing dialogue with three local fertiliser sector companies and CRP now expects to be able to sell product to all three.
Further market development work has been undertaken in Australia and throughout South-East Asia. Responses to initial contacts made have been encouraging and, given the two year lead time, CRP’s expectations are that it will have a healthy forward order book well before we are in full production
A scoping study has been commissioned to determine the feasibility and economics of beneficiating CRP rock phosphate (effectively raising the level of contained phosphorous). If this is successful the indications are that CRP will be able to sell more product and for a better unit price.
NIWA has completed a number of reports for CRP concerning various aspects of the Chatham Rise seabed environment. Further supplementary work is underway and once completed the reports will be published in order that there can be an informed discussion about what actually exists on and above the Chatham Rise and can put into context CRP’s planned activities there.
Recently CRP executed an agreement with one of the world’s largest integrated dredging companies, Royal Boskalis Westminster for Boskalis to undertake a number of projects that collectively comprise phase one of the planned work programme. These projects include design engineering, logistics studies and preliminary design work and environmental studies including turbidity assessments. These projects were expected to take approximately six months and if successful could lead to phase two activities incorporating final design, detailed engineering, construction and testing.

Glauconite deposits

In mid 2011 CRP arranged for two moorings to be located on the central Chatham Rise in order to measure water currents and to collect other environmental baseline data. As this required a vessel to be out on the Chatham Rise for several days in May and then July CRP decided to collect bottom samples of sandy silt from various nearby locations. The primary purpose of gathering these samples was to assist Boskalis in refining the design of its phosphate nodule recovery system.

CRP also decided to undertake a detailed analysis of the constituents of the sandy silt and this work has recently been completed. While these results are limited to a small group of samples, they do demonstrate that there are significant quantities of glauconite contained within the seabed sandy silt layer that also contains the phosphate nodules. As such it appears possible the recovery system designed to gather the phosphate nodules may also capture the glauconite fraction without incurring additional recovery costs.

Accordingly, Boskalis has now been commissioned by CRP to conduct a check analysis of the sandy silt samples and to investigate the feasibility of a secondary recovery circuit that separates the glauconite particles. Preliminary laboratory tests of a separation technique have been encouraging on a very small scale but translating this successfully into a high volume extraction system may be challenging.

Glauconite is a mica-type clay mineral containing potassium, which makes it (like the Chatham Rise rock phosphate) an ideal slow release direct application fertiliser. It can also be used in glass manufacture and for paint pigments. Glauconite powder is presently sold in Russia for fertiliser use for US$365/tonne. Recent technological advances suggest that it’s now possible to separate potassium from glauconite, which could create another market opportunity as the demand for potassium (also known as potash) is substantial. Potash presently sells for US$470/tonne, rock phosphate for US$199.

Some of the samples gathered in May and July were in two areas within the CRP licence that had not previously been explored and which had not previously been tested for the presence of rock phosphate nodules. The good news is that rock phosphate nodules were found to be present in both areas and the presently established resource of 25 million tonnes is likely to increase.

Financing

In June CRP raised a further $1.6 million from the exercise of all the June 2011 options. These funds have enabled CRP to maintain forward project momentum during the subsequent months while progress has been made toward to the overseas listing signalled 12 months ago.

In view of continuing adverse market conditions and the forthcoming year-end holidays the board of Chatham Rock Phosphate last week resolved to defer its proposed offshore initial public offering until 2012.

The purpose of the IPO is to fully fund CRP through to a mining licence grant and commencement of production. Although it remains a priority to secure full funding for the project it’s considered in the best interests of all CRP shareholders to delay seeking full funding for now. When CRP does recommence with the IPO it will be able to act quickly because the documentation is well advanced, having prepared a draft prospectus and a project technical report.

The company does need to raise capital to avoid delays in its work programme and maintain operational momentum. The CRP board is presently considering the optimum level of capital needed to be raised during this intervening period and is starting discussions with qualified investors with a view to undertaking private placements. As these matters crystallise, further details will be released by CRP to the market.

Chatham Rock Phosphate – why CRP and Widespread Portfolios is excited about this project

The concept of recovering rock phosphate from the seabed in New Zealand territorial waters has a significant number of economic, environmental and market benefits.

The economic benefits include

Import substitution of up to $300 million annually
Possible exports to nearby markets
Reduced commodity risk for fertiliser manufacturers and farmers
Reduced foreign exchange risk for fertiliser manufacturers and farmers
Development of a new industry
Generation of additional income tax, GST and royalty income for the local economy
Security of supply (most rock phosphate is imported from potentially unstable regimes in North Africa and the Middle East)

The environmental benefits include

CRP product is significantly lower in cadmium and uranium than imported product
Much lower carbon footprint than imported product
If applied as a direct application fertiliser CRP has less run off than super-phosphate, is applied once every three years, and is a more effective, slower acting product
Extraction will affect only 1/1000^th of the Chatham Rise total area and will be intermittent
Extraction will occur in accordance with International Marine Mining environmental guidelines

The market benefits include

Much cheaper source than Morocco
25+ years security of supply
Known extraction costs will allow fixed price contracts over several years which will benefit New Zealand fertiliser companies, farmers and agriculture outputs generally as fertiliser pricing will be less of a lottery

Outlook

Widespread's Akura reports oil exploration results

2011-11-28T03:17:00Z

New Zealand Exchange Limited
P.O. Box 2959
Wellington

26 November 2011

Dear Sir,

Akura advises oil exploration results

Fiji based Akura Limited is one of Widespread’s oil sector investments. We hold 7.2% of the company.

Akura recently made the announcement below which signals promising hydrocarbon indications.

For and on behalf of the Board,

Chris D Castle

Takaka, 26 November 2011

This is a special information release to shareholders of Akura Limited (Akura) relating to exploration work carried out in OEL 3/2009, Nadi in September, 2011 and is dated 19 November, 2011.

EVIDENCE OF SIGNIFICANT OIL RESERVOIRS IN OEL 3/2009, NADI, FIJI.

BASED ON HYDROCARBON SOIL GAS (HSG) SAMPLING

TENEMENT SITUATION

The area of interest lies within the eastern-central portion of OEL 3/2009 in the Nadi Bay area, both offshore and onshore and comprising ~ 250 km2 (see attached plan). Akura holds a 100% interest in OEL 3/2009, which was granted on 21 August, 2009 for a period of five years and covers the western portion of the Nadi Sedimentary Basin (NSB). Akura lodged an additional application for an oil exploration licence on 18 November, 2011 with Mineral Resources Department (MRD) to cover the eastern portion of the NSB, which was previously within the former OEL 2/2008, to the east of OEL 3/2009 and contiguous with it. OEL 2/2008 was held by Southern Cross Management System Limited (SCM) and was recently cancelled by MRD because of a failure by SCM to comply with work conditions and, an objection to its cancelation, could be expected from SCM. The new application by Akura covers ~2,000km2 and extends northward to Lautoka and Ba in order to cover two HSG anomalies located in a reconnaissance sampling program in 1998.

BACKGROUND

Reprocessing of the offshore Nadi seismic data by Akura in 2010 and a review of the previous petroleum exploration wells, gravity data and analytical hydrocarbon data showed that the plus 5km thick NSB was a fault-controlled, half-graben structure with an active petroleum generating system. One prospect and four leads were identified from the reprocessed seismic data in shallow (~20m) water depths in Nadi Bay with a total recoverable resource of 10.9

MMBO at P10 plus 3.7 MMBO at P90 confidence levels (see attached plan). These results led Akura to select Nadi as the most likely onshore location in the Fiji Islands, in which to find oil, and Geochemical Exploration Services Inc. (GES) of Plano, Texas was engaged to undertake a HSG sampling program in the Nadi area in September, 2011. GES is an experienced operator in this field with years of service to many clients in many parts of the planet. A total of 447 samples was collected in an area of ~50km2 with samples being collected along roads, tracks and streets with a sample spacing of 200m and were analysed for methane, ethane, propane, butanes, pentane and hexane. The survey was conducted as a government approved project in consultation with the District Administration of the Western Division and the Special Administrator of the Nadi Town Council and with the co-operation of all stakeholders (landowners and service providers).

The concept of HSG sampling is based on the fact that all petroleum reservoirs leak and that the leaking gases and volatiles can be detected in the soils and, with adequate data, various tests can be applied to determine the type of petroleum reservoir, if any, underlying a HSG anomaly.

NADI HSG SAMPLING PROGRAM

Samples were collected by an experienced operator from GES using a handheld, motorised drill, with 15cc of soil gas being collected from a depth of ~60cm near the bottom of the hole and being extracted from the centre of the drill rod via an external nipple into a syringe and stored in steel savers for transport to the U.S. for analysis. Normally the analytical process does not include pentane and hexane, which are liquids at 20°C, but, because of the strong presence of these two compounds, the technique was expanded to include them.

The sampled area consists mainly of the Meingunyah Formation, a ~100m deep fluviatile and marine deposition system in an old Nadi Bay and now, in part, covered by sediments from a recent marine incursion and also by sediments from the Nadi River flood plain. The Meingunyah Formation un-conformably overlies the potentially hydrocarbon-bearing Pliocene and Miocene sediments in the NSB. The cost of the HSG program, including reporting, was ~FD100,000.

OBSERVATIONS & INTERPRETATION OF RESULTS

Based on the HSG results obtained in September, GES concluded that , “The Nadi area appears to contain significant reservoirs of oil…..,” and they also concluded that further sampling was necessary prior to interpretation of the data; since then, the pentane and hexane results have become available and the hexane distribution clearly provides a more meaningful indication of the patterns of oil leakage, which appear to be concentrated in outer halo structures, which enclose hydrocarbon anomalous areas, as shown on the attached plan. GES has endorsed the interpretations provided herein.

Five areas (H1 to H5) of anomalous hexane and other hydrocarbons have been identified with the largest area, H3, of ~18km2 (8.5km by 2km) covering part of the Nadi International Airport, urban, business and farming areas. This area is defined by an outer halo of high values of hexane, pentane, butane and methane. Traverses across the halo are generally 0.5 to 1km apart, but may be as much as 2.5km apart. The H3 halo has a circumference of 23 km and is currently defined by 35 sample sites with values ranging from 8.4 to 200 PPM hexane and with maximum values of 157 PPM methane, 21.2 PPM butane and 5.2 PPM pentane. Ethane and propane (C2+C3) values have a maximum of 2.0 PPM and are generally <1 PPM. The hexane halo is viewed as indicating the presence, at depth, of a filled-to-spill oil reservoir with the trap being a fault-modified, four-way closure, which lies along strike from a mapped anticlinal structure in the outcropping Miocene rocks. Within the area bounded by the halo there are hexane highs, which tend to form straight or arcuate lines and are thought to represent leakage along fractures above the reservoir.

\The H1 area lies to the south of H3 and covers the area of Nadi Town and extends to the east and west, covering ~ 8km2. Like the H3 area, it is defined by an outer halo of high values and the halo has a circumference of 16 km and is defined by 15 sample sites with values ranging from 11 to 140.5 PPM hexane, with maximum values of 88 PPM methane, 12.6 PPM butane and 3.5 PPM pentane.

The H4 partial halo has been outlined over an arcuate distance of 5 km and is defined by seven sample sites with values ranging from 9 to 75.7 PPM hexane, with maximum values of 90 PPM methane, 7.1 PPM butane and 2.3 PPM pentane.

The H5 area is the northern-most and is close to the graben bounding fault along the Sabeto Range; it is open to the northwest and the partial halo has a circumference of 6.5 km and is defined by twelve sample sites with values ranging from 24 to 90 PPM hexane, with a maximum of 95 PPM methane, 8.2 PPM butane and 3.0 PPM pentane

The H2 area covers part of Denarau Island and the southern boundary of a possible halo has been outlined over a length of 4 km by five sample sites with values ranging from 44 to 74.3 PPM hexane, with maximum values of 90 PPM methane, 7.0 PPM butane and 2.0 PPM pentane. Much of the rest of the halo will lie in the marine domain and there is evidence to support this with known thermogenic methane and “oil indicative anomalies” offshore from Denaru Island, as recorded in the early 1980s. Curiously, the legendary burning island of Fiji folk law was one of the anomalous sample sites and lies on the halo to the east of Denarau Island. Buabua 1 and 2 wells were drilled and abandoned in 1981/82 at depths of ~300m due to bad ground, after intersecting shows of oil and gas. The following quotes are taken from the daily telex reports by the well site geologist: “a good blow of gas,” which lasted for 5 hours, was obtained after a perforation test at 208 to 210m; bubbles of condensate, which “evaporated in 10 seconds leaving a waxy residue, ” were first noted at 207.3m together with “shows of greenish brown, waxy oil,” and the drill pipe had, “a rainbow of oil coating” when racked in the derrick. Analytical work in the U.S. confirmed the presence of pentane, hexane and heptane as well as the lighter gases. It is unfortunate that one of these wells, drilled for stratigraphic purposes, did not reach its target depth of 700m. Clearly much more work is required at H2; however, because of the expense and difficulty of operating in the marine environment, preference will be given to the onshore areas.

The anomalous ethane and propane values do not correlate with the anomalous hexane, pentane, butane and methane values and form a larger (~25km2) area more or less coincident with the H3 and H4 areas. This is a separate population of values and is thought to emanate from a separate source, or reservoir. The C2+C3 values appear to be compatible with published data relating to the Loma de La Lata oil and gas field, Argentina. Within the C2+C3 anomalous area there is a possible ring structure with a diameter of 4km and marked by higher C2+C3 values up to 26.2 PPM as shown on the attached plan.

ONGOING FIELD WORK

GES has been contracted to conduct an infill HSG sampling program in December, which will be designed to define the H3, H1 and H4 haloes together with the C2+C3 anomalous zone. Additional specialist sampling may be undertaken to define the liquid hydrocarbons occurring in the soils together with identification of biomarkers. A review of results will be undertaken in Q1 of 2012 and discussions will be held with the providers of appropriate seismic technology. Hopefully, onshore drill targets will be defined within seven months.

Clearly, the HSG anomalies will require a re-assessment of the hydrocarbon potential and resources of the Nadi Sedimentary Basin and this will be undertaken after results are available from the December HSG sampling.

FUTURE PLANS

Private capital raising at F$1.50 a share is in progress in order to raise the funds necessary for the follow-up HSG sampling in December. Shareholders will also be offered the opportunity to subscribe for additional shares at F$1.50. In early 2012 the hydrocarbon assets of Akura will be reviewed and a new corporate valuation established. Further capital raising will follow in order to fund a major HSG program in the Nausori-Tailevu area in OELs 1/2009 and 2/2009, including the Nasilai and Maumi Prospects. This will be followed by shallow, land seismic acquisition in both the Nadi and Nausori-Tailevu areas and use of the technology developed by the Curtin University (WA) is being examined. Subject to the availability of funds and suitable targets being defined, then drilling of four to six wells is proposed to commence in Q3 of 2012 or Q1 of 2013. Listing on the South Pacific Stock Exchange is viewed as an integral part of capital raising in Fiji.

SHARE CAPITAL

Currently, Akura has 1,256,802 fully paid, ordinary shares on issue.

W. A. Brook, T. J. Casey,

Managing Director, Chairman,

Akura Limited. Akura Limited.

19 November, 2011.

Nadi, Fiji Islands.

Net Asset Backing

2011-11-10T22:11:00Z

New Zealand Exchange Limited
P.O. Box 2959
Wellington

11 November 2011

Dear Sir,

Widespread Portfolios Net Asset Backing

We wish to advise that the unaudited net asset backing per Widespread Portfolios share, as at 8 a.m. today is 56.6 cents.

NET ASSET BACKING PER SHARE	Per WID share	Per WID share
Investment	AMR at market	AMR at valuation
Oil and gas assets	0.022	0.022
Asian Mineral Resources (AMR)	0.034	0.103
Chatham Rock Phosphate (based on independent valuation)	0.399	0.399
King Solomon Mines	0.026	0.026
Other investments & cash	0.016	0.016
Total ($NZ per WID share)	0.497	0.56.6
Current WID share price	0.140	0.140
Discount to Net Asset Backing	71.8%	75.3%

Diluted Net Assets per share

Net asset data is also available on our website (www.widespread.co.nz) and is updated daily. For more information on Chatham Rock Phosphate Limited see www.rockphosphate.co.nz.

For and on behalf of the Board,

Chris D Castle

Onekaka, 11 November 2011

<font>

</font>

Net Asset Backing

2011-10-27T21:45:00Z

New Zealand Exchange Limited
P.O. Box 2959
Wellington

28 October 2011

Dear Sir,

Widespread Portfolios Net Asset Backing

We wish to advise that the unaudited net asset backing per Widespread Portfolios share, as at 8 a.m. today is 56.3 cents.

NET ASSET BACKING PER SHARE	Per WID share	Per WID share
Investment	AMR at market	AMR at valuation
Oil and gas assets	0.022	0.022
Asian Mineral Resources (AMR)	0.033	0.100
Chatham Rock Phosphate (based on independent valuation)	0.399	0.399
King Solomon Mines	0.028	0.028
Other investments & cash	0.014	0.014
Total ($NZ per WID share)	0.496	0.56.3
Current WID share price	0.155	0.155
Discount to Net Asset Backing	68.8%	72.5%

Diluted Net Assets per share

Net asset data is also available on our website (www.widespread.co.nz) and is updated daily. For more information on Chatham Rock Phosphate Limited see www.rockphosphate.co.nz.

For and on behalf of the Board,

Chris D Castle

Wellington, 28 October 2011

Net Asset Backing

2011-10-21T18:05:00Z

New Zealand Exchange Limited
P.O. Box 2959
Wellington

21 October 2011

Dear Sir,

Widespread Portfolios Net Asset Backing

We wish to advise that the unaudited net asset backing per Widespread Portfolios share, as at 8 a.m. today is 56.6 cents.

NET ASSET BACKING PER SHARE	Per WID share	Per WID share
Investment	AMR at market	AMR at valuation
Oil and gas assets	0.022	0.022
Asian Mineral Resources (AMR)	0.033	0.101
Chatham Rock Phosphate (based on independent valuation)	0.399	0.399
King Solomon Mines	0.030	0.030
Other investments & cash	0.014	0.014
Total ($NZ per WID share)	0.498	0.56.6
Current WID share price	0.160	0.160
Discount to Net Asset Backing	68.9%	72.6%

Diluted Net Assets per share

Net asset data is also available on our website (www.widespread.co.nz) and is updated daily. For more information on Chatham Rock Phosphate Limited see www.rockphosphate.co.nz.

For and on behalf of the Board,

Chris D Castle

Rotterdam, 21 October 2011

Net Asset Backing Update

2011-10-14T01:46:00Z

New Zealand Exchange Limited
P.O. Box 2959
Wellington

14 October 2011

Dear Sir,

Widespread Portfolios Net Asset Backing

We wish to advise that the unaudited net asset backing per Widespread Portfolios share, as at 8 a.m. today is 55.8 cents.

NET ASSET BACKING PER SHARE	Per WID share	Per WID share
Investment	AMR at market	AMR at valuation
Oil and gas assets	0.022	0.022
Asian Mineral Resources (AMR)	0.033	0.101
Chatham Rock Phosphate (based on independent valuation)	0.399	0.399
King Solomon Mines	0.023	0.023
Other investments & cash	0.013	0.013
Total ($NZ per WID share)	0.491	0.558
Current WID share price	0.160	0.160
Discount to Net Asset Backing	67.4%	71.3%

Diluted Net Assets per share

Net asset data is also available on our website (www.widespread.co.nz) and is updated daily. For more information on Chatham Rock Phosphate Limited see www.rockphosphate.co.nz.

For and on behalf of the Board,

Chris D Castle

Onekaka, 14 October 2011

Net Asset Backing

2011-10-06T15:07:00Z

New Zealand Exchange Limited
P.O. Box 2959
Wellington

7 October 2011

Dear Sir,

Widespread Portfolios Net Asset Backing

We wish to advise that the unaudited net asset backing per Widespread Portfolios share, as at 8 a.m. today is 56.4 cents.

NET ASSET BACKING PER SHARE	Per WID share	Per WID share
Investment	AMR at market	AMR at valuation
Oil and gas assets	0.022	0.022
Asian Mineral Resources (AMR)	0.033	0.102
Chatham Rock Phosphate (based on independent valuation)	0.399	0.399
King Solomon Mines	0.024	0.024
Other investments & cash	0.017	0.017
Total ($NZ per WID share)	0.496	0.564
Current WID share price	0.160	0.160
Discount to Net Asset Backing	67.7%	71.6%

Diluted Net Assets per share

Net asset data is also available on our website (www.widespread.co.nz) and is updated daily. For more information on Chatham Rock Phosphate Limited see www.rockphosphate.co.nz.

For and on behalf of the Board,

Chris D Castle

Rotterdam, 7 October 2011

Net Asset Backing Update

2011-10-01T00:33:00Z

New Zealand Exchange Limited
P.O. Box 2959
Wellington

30 September 2011

Dear Sir,

Widespread Portfolios Net Asset Backing

We wish to advise that the unaudited net asset backing per Widespread Portfolios share, as at 8 a.m. today is 56.5 cents.

NET ASSET BACKING PER SHARE	Per WID share	Per WID share
Investment	AMR at market	AMR at valuation
Oil and gas assets	0.022	0.022
Asian Mineral Resources (AMR)	0.034	0.102
Chatham Rock Phosphate (based on independent valuation)	0.399	0.399
King Solomon Mines	0.024	0.024
Other investments & cash	0.018	0.018
Total ($NZ per WID share)	0.497	0.565
Current WID share price	0.160	0.160
Discount to Net Asset Backing	67.8%	71.7%

Diluted Net Assets per share

The fully diluted NTA per WID share is $0.99 assuming the listed warrants are exercised @ $2.982 and the unlisted director-held warrants are exercised @ $3.282. All warrants expire on 30 June 2012.

Net asset data is also available on our website (www.widespread.co.nz) and is updated daily. For more information on Chatham Rock Phosphate Limited see www.rockphosphate.co.nz.

For and on behalf of the Board,

Chris D Castle

Wellington, 30 September 2011

Net Asset Backing Update

2011-09-22T20:46:00Z

New Zealand Exchange Limited
P.O. Box 2959
Wellington

23 September 2011

Dear Sir,

Widespread Portfolios Net Asset Backing

We wish to advise that the unaudited net asset backing per Widespread Portfolios share, as at 8 a.m. today is 56.5 cents.

NET ASSET BACKING PER SHARE	Per WID share	Per WID share
Investment	AMR at market	AMR at valuation
Oil and gas assets	0.022	0.022
Asian Mineral Resources (AMR)	0.033	0.102
Chatham Rock Phosphate (based on independent valuation)	0.399	0.399
King Solomon Mines	0.025	0.025
Other investments & cash	0.017	0.017
Total ($NZ per WID share)	0.497	0.565
Current WID share price	0.160	0.160
Discount to Net Asset Backing	67.8%	71.7%

Diluted Net Assets per share

Net asset data is also available on our website (www.widespread.co.nz) and is updated daily. For more information on Chatham Rock Phosphate Limited see www.rockphosphate.co.nz.

For and on behalf of the Board,

Chris D Castle

Wellington, 23 September 2011

Net Asset Backing Update

2011-09-15T23:07:00Z

New Zealand Exchange Limited
P.O. Box 2959
Wellington

16 September 2011

Dear Sir,

Widespread Portfolios Net Asset Backing

We wish to advise that the unaudited net asset backing per Widespread Portfolios share, as at 8 a.m. today is 56.7 cents.

NET ASSET BACKING PER SHARE	Per WID share	Per WID share
Investment	AMR at market	AMR at valuation
Oil and gas assets	0.022	0.022
Asian Mineral Resources (AMR)	0.045	0.101
Chatham Rock Phosphate (based on independent valuation)	0.399	0.399
King Solomon Mines	0.028	0.028
Other investments & cash	0.016	0.016
Total ($NZ per WID share)	0.511	0.567
Current WID share price	0.160	0.160
Discount to Net Asset Backing	68.7%	71.8%

Diluted Net Assets per share

Net asset data is also available on our website (www.widespread.co.nz) and is updated daily. For more information on Chatham Rock Phosphate Limited see www.rockphosphate.co.nz.

For and on behalf of the Board,

Chris D Castle

Onekaka, 16 September 2011

Net Asset Backing Update

2011-09-08T22:22:00Z

New Zealand Exchange Limited
P.O. Box 2959
Wellington

9 September 2011

Dear Sir,

Widespread Portfolios Net Asset Backing

We wish to advise that the unaudited net asset backing per Widespread Portfolios share, as at 8 a.m. today is 56.4 cents.

NET ASSET BACKING PER SHARE	Per WID share	Per WID share
Investment	AMR at market	AMR at valuation
Oil and gas assets	0.022	0.022
Asian Mineral Resources (AMR)	0.046	0.099
Chatham Rock Phosphate (based on independent valuation)	0.399	0.399
King Solomon Mines	0.027	0.027
Other investments & cash	0.017	0.017
Total ($NZ per WID share)	0.511	0.564
Current WID share price	0.200	0.200
Discount to Net Asset Backing	60.9%	64.6%

Diluted Net Assets per share

Net asset data is also available on our website (www.widespread.co.nz) and is updated daily. For more information on Chatham Rock Phosphate Limited see www.rockphosphate.co.nz.

For and on behalf of the Board,

Chris D Castle

Onekaka, 9 September 2011

Net Asset Backing Update

2011-09-01T22:50:00Z

New Zealand Exchange Limited
P.O. Box 2959
Wellington

2 September 2011

Dear Sir,

Widespread Portfolios Net Asset Backing

We wish to advise that the unaudited net asset backing per Widespread Portfolios share, as at 8 a.m. today is 56.8 cents.

Effect of Proposed Restructure

As previously advised, the re-arrangement of assets held by Widespread Portfolios and associate company Chatham Rock Phosphate, combined with the independently supported revaluation of the Chatham Rise project, had a marked beneficial effect on the value of Chatham Rock Phosphate shares and options. This translated into a significant increase in the asset backing of Widespread Portfolios.

NET ASSET BACKING PER SHARE	Per WID share	Per WID share
Investment	AMR at market	AMR at valuation
Oil and gas assets	0.022	0.022
Asian Mineral Resources (AMR)	0.049	0.098
Chatham Rock Phosphate (based on independent valuation)	0.399	0.399
King Solomon Mines	0.032	0.032
Other investments & cash	0.016	0.016
Total ($NZ per WID share)	0.519	0.568
Current WID share price	0.200	0.200
Discount to Net Asset Backing	61.5%	64.8%

Diluted Net Assets per share

Net asset data is also available on our website (www.widespread.co.nz) and is updated daily. For more information on Chatham Rock Phosphate Limited see www.rockphosphate.co.nz.

For and on behalf of the Board,

Chris D Castle

Wellington, 2 September 2011

Net Asset Backing

2011-08-25T21:54:00Z

New Zealand Exchange Limited
P.O. Box 2959
Wellington

26 August 2011

Dear Sir,

Widespread Portfolios Net Asset Backing

We wish to advise that the unaudited net asset backing per Widespread Portfolios share, as at 8 a.m. today is 56.6 cents.

Effect of Proposed Restructure

NET ASSET BACKING PER SHARE	Per WID share	Per WID share
Investment	AMR at market	AMR at valuation
Oil and gas assets	0.022	0.022
Asian Mineral Resources (AMR)	0.045	0.100
Chatham Rock Phosphate (based on independent valuation)	0.399	0.399
King Solomon Mines	0.029	0.029
Other investments & cash	0.016	0.016
Total ($NZ per WID share)	0.511	0.566
Current WID share price	0.150	0.150
Discount to Net Asset Backing	70.6%	73.5%

Diluted Net Assets per share

Net asset data is also available on our website (www.widespread.co.nz) and is updated daily. For more information on Chatham Rock Phosphate Limited see www.rockphosphate.co.nz.

For and on behalf of the Board,

Chris D Castle

Sonid Zuqui, Inner Mongolia, 26 August 2011

Widespread Portfolios - NZX Announcements

Widespread's King Solomon Mines announces good results

Net Asset Backing Update

Per WID share

Interim report for the six months to 30 September 2011

Major Investments

Chatham Rock Phosphate – why CRP and Widespread Portfolios is excited about this project

Widespread's Akura reports oil exploration results

Net Asset Backing

Per WID share

Net Asset Backing

Per WID share

Net Asset Backing

Per WID share

Net Asset Backing Update

Per WID share

Net Asset Backing

Per WID share

Net Asset Backing Update

Per WID share

Net Asset Backing Update

Per WID share

Net Asset Backing Update

Per WID share

Net Asset Backing Update

Per WID share

Net Asset Backing Update

Per WID share

Net Asset Backing

Per WID share