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  <title>Widespread Portfolios - NZX Announcements</title>
  <id>tag:widespread.co.nz,2010:mephisto/nzx-announcements</id>
  <generator version="0.8.0" uri="http://mephistoblog.com">Mephisto Drax</generator>
  <link href="http://widespread.co.nz/feed/nzx-announcements/atom.xml" rel="self" type="application/atom+xml"/>
  <link href="http://widespread.co.nz/nzx-announcements" rel="alternate" type="text/html"/>
  <updated>2010-09-02T19:27:14Z</updated>
  <entry xml:base="http://widespread.co.nz/">
    <author>
      <name>WID</name>
    </author>
    <id>tag:widespread.co.nz,2010-09-02:24770</id>
    <published>2010-09-02T19:16:00Z</published>
    <updated>2010-09-02T19:27:14Z</updated>
    <category term="NZX Announcements"/>
    <link href="http://widespread.co.nz/2010/9/2/net-asset-backing-11" rel="alternate" type="text/html"/>
    <title>Net Asset Backing </title>
<content type="html">
            &lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;New Zealand Exchange Limited &lt;br /&gt;P.O. Box 2959 &lt;br /&gt;Wellington&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;3 September 2010&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;Dear Sir, &lt;br /&gt;&lt;br /&gt;&lt;strong&gt;Widespread Portfolios Net Asset Backing&lt;span&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp; &lt;/span&gt;&lt;/strong&gt;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;We wish to advise that the unaudited net asset backing per Widespread Portfolios share, as at 7 a.m. today, ranges from &lt;strong&gt;44.0 cents to 48.6 cents&lt;/strong&gt;.&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;The lower figure is based on &lt;strong&gt;the most recent sale price of AMR shares in Canada&lt;/strong&gt;, the higher one is based on &lt;strong&gt;our share of AMR&amp;rsquo;s net assets&lt;/strong&gt;. We consider the latter approach relevant as, despite recent dilution of our holding in percentage terms, we still hold a strategic stake and have both board representation in AMR and a continuing management influence. &lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;We don&amp;rsquo;t consider the most recent sale price in Canada to be an accurate indicator of AMR&amp;rsquo;s enterprise value as the stock is very thinly traded. The top 20 AMR shareholders are long-term holders who collectively hold 98.6% of the company and most of the remaining smaller shareholdings are registered in New Zealand and are therefore not easily traded in Canada&lt;span&gt;&amp;nbsp;&amp;nbsp; &lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;Portfolio Weighting&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;As can be seen from the table below the AMR shareholding is no longer our key asset. Our direct and indirect holdings in the Chatham Rise Rock Phosphate Project now hold that position.&lt;span&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; &lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;table&gt;
&lt;tbody&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;NET ASSET BACKING PER SHARE&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;h6&gt;&lt;span&gt;Per WID share&lt;/span&gt;&lt;/h6&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Per WID share&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Investment&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;AMR @ market&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;AMR at share of NTA&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;Chatham Rise Project (independent valuation)&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.249&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.249&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;Asian Minerals (AMR)&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.075&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.122&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;Widespread Energy (oil &amp;amp; gas assets)&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.032&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.032&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;King Solomon Mines&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.032&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.032&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;Other investments &amp;amp; cash&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.051&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.051&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Total ($NZ per WID share)&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;0.440&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;0.486&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Current WID share price&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;0.141&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;0.141&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Discount to Net Asset Backing &lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;67.9%&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;71.0%&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/tbody&gt;
&lt;/table&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;Diluted Net Assets per share&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;Using the share of AMR&amp;rsquo;s net assets approach, the fully diluted NTA per WID share is &lt;strong&gt;94 &lt;/strong&gt;cents 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.&lt;span&gt;&amp;nbsp; &lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;Net asset data is also available on our website (&lt;/span&gt;&lt;a href=&quot;http://www.widespread.co.nz/&quot;&gt;&lt;span&gt;www.widespread.co.nz&lt;/span&gt;&lt;/a&gt;&lt;span&gt;) and is updated daily. For more information on the Chatham Rise project see &lt;/span&gt;&lt;a href=&quot;http://www.rockphosphate.co.nz/&quot;&gt;&lt;span&gt;www.rockphosphate.co.nz&lt;/span&gt;&lt;/a&gt;&lt;span&gt;. &lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;For and on behalf of the Board,&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;Chris D Castle &lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;strong&gt;&lt;span&gt;Wellington, 3 September 2010&lt;/span&gt;&lt;/strong&gt;&lt;span&gt; &lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
          </content>  </entry>
  <entry xml:base="http://widespread.co.nz/">
    <author>
      <name>WID</name>
    </author>
    <id>tag:widespread.co.nz,2010-09-02:24764</id>
    <published>2010-09-02T11:07:00Z</published>
    <updated>2010-09-02T11:24:00Z</updated>
    <category term="NZX Announcements"/>
    <category term="Widespread Energy News"/>
    <link href="http://widespread.co.nz/2010/9/2/chatham-rise-rock-phosphate-project-update" rel="alternate" type="text/html"/>
    <title>Chatham Rise Rock Phosphate Project Update</title>
<content type="html">
            &lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;&lt;span&gt;New Zealand Exchange Limited &lt;br /&gt;P.O. Box 2959 &lt;br /&gt;Wellington&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyTextIndent3&quot;&gt;&lt;span&gt;&lt;span&gt;3 September 2010&lt;br /&gt;&lt;br /&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;&lt;span&gt;Dear Sir, &lt;br /&gt;&lt;br /&gt;&lt;strong&gt;&lt;/strong&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;h1&gt;&lt;span&gt;&lt;span&gt;Chatham Rise Rock Phosphate Project Update&lt;/span&gt;&lt;/span&gt;&lt;/h1&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;&lt;span&gt;Widespread&amp;nbsp;Portfolios owns 10% of this project and holds another 18% indirectly through its 20% holding in Widespread Energy (the project operator).&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyTextIndent2&quot;&gt;&lt;span&gt;&lt;span&gt;The Chatham Rise rock phosphate project is making rapid progress in evaluating the viability of its undersea reserves.&lt;br /&gt;&lt;br /&gt;The Widespread Energy Ltd and Widespread Portfolios Ltd joint venture has established a team of key technical, environmental, financial and other experts to bring together and evaluate existing data. &amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyTextIndent3&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;These include people who investigated the potential of the resource in the 1980s and have a wealth of knowledge. &amp;nbsp;&amp;nbsp;The technical advisers and Widespread directors have recently met in Wellington for a two day workshop to share knowledge, identify information gaps and plan the next steps in the years one and two work programmes for the project.&lt;br /&gt;&lt;br /&gt;Key steps include:&lt;/span&gt;&lt;span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;middot;&lt;/span&gt;&lt;span&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; &lt;/span&gt;&lt;/span&gt;&lt;span&gt;&lt;span&gt;The data gathered in the exploration voyages of RV Valdivia and RV Sonne in the late 1970s and early 1980s has now been digitised and that data is now being analysed.&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;middot;&lt;/span&gt;&lt;span&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; &lt;/span&gt;&lt;/span&gt;&lt;span&gt;&lt;span&gt;A dialogue has also recently been initiated with representatives of the German organisations that played a central role in the exploration role in the early 1980s.&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;middot;&lt;/span&gt;&lt;span&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; &lt;/span&gt;&lt;/span&gt;&lt;span&gt;&lt;span&gt;Further work is also being undertaken with several undersea mining organisations to evaluate the optimal approach to extraction of the joint venture&amp;rsquo;s &amp;nbsp;seabed rock phosphate resource.&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;&lt;br /&gt;&lt;span&gt;Project Director Chris Castle also attended last week&amp;rsquo;s Australian fertiliser industry annual conference and while there met representatives of a number of fertiliser manufacturers and users. &lt;br /&gt;He will also be presenting a paper at a conference on undersea mining in Russia in October.&lt;br /&gt;&lt;br /&gt;In conjunction with profile raising for the project, a six page fold-out marketing brochure has been produced and is available to view and download on the project website rockphosphate.co.nz.&lt;br /&gt;&lt;br /&gt;&amp;ldquo;We&amp;rsquo;re achieving significant progress on a number of fronts and this project is developing a lot of momentum. &amp;nbsp;We want to be in a position to complete our first year report to Crown Minerals well within the specified time frame,&amp;rdquo; Mr Castle said.&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;&lt;span&gt;On behalf of the Board&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;&lt;span&gt;Chris Castle&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;&lt;span&gt;Wellington, 3 September 2010&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p&gt;&amp;nbsp;&lt;/p&gt;
          </content>  </entry>
  <entry xml:base="http://widespread.co.nz/">
    <author>
      <name>WID</name>
    </author>
    <id>tag:widespread.co.nz,2010-08-26:24553</id>
    <published>2010-08-26T19:04:00Z</published>
    <updated>2010-08-26T20:04:55Z</updated>
    <category term="NZX Announcements"/>
    <link href="http://widespread.co.nz/2010/8/26/net-asset-backing-10" rel="alternate" type="text/html"/>
    <title>Net Asset Backing </title>
<content type="html">
            &lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;New Zealand Exchange Limited &lt;br /&gt;P.O. Box 2959 &lt;br /&gt;Wellington&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;27 August 2010&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;Dear Sir, &lt;br /&gt;&lt;br /&gt;&lt;strong&gt;Widespread Portfolios Net Asset Backing&lt;span&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp; &lt;/span&gt;&lt;/strong&gt;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;We wish to advise that the unaudited net asset backing per Widespread Portfolios share, as at 7 a.m. today, ranges from &lt;strong&gt;43.4 cents to 48.1 cents&lt;/strong&gt;.&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;The lower figure is based on &lt;strong&gt;the most recent sale price of AMR shares in Canada&lt;/strong&gt;, the higher one is based on &lt;strong&gt;our share of AMR&amp;rsquo;s net assets&lt;/strong&gt;. We consider the latter approach relevant as, despite recent dilution of our holding in percentage terms, we still hold a strategic stake and have both board representation in AMR and a continuing management influence. &lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;We don&amp;rsquo;t consider the most recent sale price in Canada to be an accurate indicator of AMR&amp;rsquo;s enterprise value as the stock is very thinly traded. The top 20 AMR shareholders are long-term holders who collectively hold 98.6% of the company and most of the remaining smaller shareholdings are registered in New Zealand and are therefore not easily traded in Canada&lt;span&gt;&amp;nbsp;&amp;nbsp; &lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;Portfolio Weighting&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;As can be seen from the table below the AMR shareholding is no longer our key asset. Our direct and indirect holdings in the Chatham Rise Rock Phosphate Project now hold that position.&lt;span&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; &lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;table&gt;
&lt;tbody&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;NET ASSET BACKING PER SHARE&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;h6&gt;&lt;span&gt;Per WID share&lt;/span&gt;&lt;/h6&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Per WID share&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Investment&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;AMR @ market&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;AMR at share of NTA&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;Chatham Rise Project (independent valuation)&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.249&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.249&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;Asian Minerals (AMR)&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.074&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.123&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;Widespread Energy (oil &amp;amp; gas assets)&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.036&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.032&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;King Solomon Mines&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.024&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.024&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;Other investments &amp;amp; cash&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.052&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.052&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Total ($NZ per WID share)&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;0.434&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;0.481&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Current WID share price&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;0.141&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;0.141&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Discount to Net Asset Backing &lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;67.5%&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;70.7%&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/tbody&gt;
&lt;/table&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;Diluted Net Assets per share&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;Using the share of AMR&amp;rsquo;s net assets approach, the fully diluted NTA per WID share is &lt;strong&gt;94 &lt;/strong&gt;cents 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.&lt;span&gt;&amp;nbsp; &lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;Net asset data is also available on our website (&lt;/span&gt;&lt;a href=&quot;http://www.widespread.co.nz/&quot;&gt;&lt;span&gt;www.widespread.co.nz&lt;/span&gt;&lt;/a&gt;&lt;span&gt;) and is updated daily. For more information on the Chatham Rise project see &lt;/span&gt;&lt;a href=&quot;http://www.rockphosphate.co.nz/&quot;&gt;&lt;span&gt;www.rockphosphate.co.nz&lt;/span&gt;&lt;/a&gt;&lt;span&gt;. &lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;For and on behalf of the Board,&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;Chris D Castle &lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;strong&gt;&lt;span&gt;Auckland, 27 August 2010&lt;/span&gt;&lt;/strong&gt;&lt;span&gt; &lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
          </content>  </entry>
  <entry xml:base="http://widespread.co.nz/">
    <author>
      <name>WID</name>
    </author>
    <id>tag:widespread.co.nz,2010-08-19:24375</id>
    <published>2010-08-19T17:15:00Z</published>
    <updated>2010-08-19T18:21:59Z</updated>
    <category term="NZX Announcements"/>
    <link href="http://widespread.co.nz/2010/8/19/net-asset-backing-9" rel="alternate" type="text/html"/>
    <title>Net Asset Backing </title>
<content type="html">
            &lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;New Zealand Exchange Limited &lt;br /&gt;P.O. Box 2959 &lt;br /&gt;Wellington&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;20 August 2010&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;Dear Sir, &lt;br /&gt;&lt;br /&gt;&lt;strong&gt;Widespread Portfolios Net Asset Backing&lt;span&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp; &lt;/span&gt;&lt;/strong&gt;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;We wish to advise that the unaudited net asset backing per Widespread Portfolios share, as at 6 a.m. today, ranges from &lt;strong&gt;43.5 cents to 49.1 cents&lt;/strong&gt;.&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;The lower figure is based on &lt;strong&gt;the most recent sale price of AMR shares in Canada&lt;/strong&gt;, the higher one is based on &lt;strong&gt;our share of AMR&amp;rsquo;s net assets&lt;/strong&gt;. We consider the latter approach relevant as, despite recent dilution of our holding in percentage terms, we still hold a strategic stake and have both board representation in AMR and a continuing management influence. &lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;We don&amp;rsquo;t consider the most recent sale price in Canada to be an accurate indicator of AMR&amp;rsquo;s enterprise value as the stock is very thinly traded. The top 20 AMR shareholders are long-term holders who collectively hold 98.6% of the company and most of the remaining smaller shareholdings are registered in New Zealand and are therefore not easily traded in Canada&lt;span&gt;&amp;nbsp;&amp;nbsp; &lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;Portfolio Weighting&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;As can be seen from the table below the AMR shareholding is no longer our key asset. Our direct and indirect holdings in the Chatham Rise Rock Phosphate Project now hold that position.&lt;span&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; &lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;table&gt;
&lt;tbody&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;NET ASSET BACKING PER SHARE&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;h6&gt;&lt;span&gt;Per WID share&lt;/span&gt;&lt;/h6&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Per WID share&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Investment&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;AMR @ market&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;AMR at share of NTA&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;Chatham Rise Project (independent valuation)&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.249&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.249&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;Asian Minerals (AMR)&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.069&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.125&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;Widespread Energy (oil &amp;amp; gas assets)&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.041&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.041&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;King Solomon Mines&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.024&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.024&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;Other investments &amp;amp; cash&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.053&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.053&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Total ($NZ per WID share)&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;0.435&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;0.491&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Current WID share price&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;0.123&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;0.123&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Discount to Net Asset Backing &lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;71.7%&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;75.0%&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/tbody&gt;
&lt;/table&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;Diluted Net Assets per share&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;Using the share of AMR&amp;rsquo;s net assets approach, the fully diluted NTA per WID share is &lt;strong&gt;94 &lt;/strong&gt;cents 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.&lt;span&gt;&amp;nbsp; &lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;Net asset data is also available on our website (&lt;/span&gt;&lt;a href=&quot;http://www.widespread.co.nz/&quot;&gt;&lt;span&gt;www.widespread.co.nz&lt;/span&gt;&lt;/a&gt;&lt;span&gt;) and is updated daily. For more information on the Chatham Rise project see &lt;/span&gt;&lt;a href=&quot;http://www.rockphosphate.co.nz/&quot;&gt;&lt;span&gt;www.rockphosphate.co.nz&lt;/span&gt;&lt;/a&gt;&lt;span&gt;. &lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;For and on behalf of the Board,&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;Chris D Castle &lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;strong&gt;&lt;span&gt;Auckland, 20 August 2010&lt;/span&gt;&lt;/strong&gt;&lt;span&gt; &lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
          </content>  </entry>
  <entry xml:base="http://widespread.co.nz/">
    <author>
      <name>WID</name>
    </author>
    <id>tag:widespread.co.nz,2010-08-12:24087</id>
    <published>2010-08-12T21:48:00Z</published>
    <updated>2010-08-12T22:49:17Z</updated>
    <category term="NZX Announcements"/>
    <link href="http://widespread.co.nz/2010/8/12/net-asset-backing-8" rel="alternate" type="text/html"/>
    <title>Net Asset Backing </title>
<content type="html">
            &lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;New Zealand Exchange Limited &lt;br /&gt;P.O. Box 2959 &lt;br /&gt;Wellington&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;13 August 2010&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;Dear Sir, &lt;br /&gt;&lt;br /&gt;&lt;strong&gt;Widespread Portfolios Net Asset Backing&lt;span&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp; &lt;/span&gt;&lt;/strong&gt;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;We wish to advise that the unaudited net asset backing per Widespread Portfolios share, as at 8 a.m. today, ranges from &lt;strong&gt;43.9 cents to 49.9 cents&lt;/strong&gt;.&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;The lower figure is based on &lt;strong&gt;the most recent sale price of AMR shares in Canada&lt;/strong&gt;, the higher one is based on &lt;strong&gt;our share of AMR&amp;rsquo;s net assets&lt;/strong&gt;. We consider the latter approach relevant as, despite recent dilution of our holding in percentage terms, we still hold a strategic stake and have both board representation in AMR and a continuing management influence. &lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;We don&amp;rsquo;t consider the most recent sale price in Canada to be an accurate indicator of AMR&amp;rsquo;s enterprise value as the stock is very thinly traded. The top 20 AMR shareholders are long-term holders who collectively hold 98.6% of the company and most of the remaining smaller shareholdings are registered in New Zealand and are therefore not easily traded in Canada&lt;span&gt;&amp;nbsp;&amp;nbsp; &lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;Portfolio Weighting&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;As can be seen from the table below the AMR shareholding is no longer our key asset. Our direct and indirect holdings in the Chatham Rise Rock Phosphate Project now hold that position.&lt;span&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; &lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;table&gt;
&lt;tbody&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;NET ASSET BACKING PER SHARE&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;h6&gt;&lt;span&gt;Per WID share&lt;/span&gt;&lt;/h6&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Per WID share&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Investment&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;AMR @ market&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;AMR at share of NTA&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;Chatham Rise Project (independent valuation)&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.249&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.249&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;Asian Minerals (AMR)&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.064&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.124&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;Widespread Energy (oil &amp;amp; gas assets)&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.041&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.041&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;King Solomon Mines&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.032&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.032&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;Other investments &amp;amp; cash&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.054&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.054&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Total ($NZ per WID share)&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;0.439&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;0.499&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Current WID share price&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;0.123&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;0.123&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Discount to Net Asset Backing &lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;72.0%&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;75.3%&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/tbody&gt;
&lt;/table&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;Diluted Net Assets per share&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;Using the share of AMR&amp;rsquo;s net assets approach, the fully diluted NTA per WID share is &lt;strong&gt;95 &lt;/strong&gt;cents 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.&lt;span&gt;&amp;nbsp; &lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;Net asset data is also available on our website (&lt;/span&gt;&lt;a href=&quot;http://www.widespread.co.nz/&quot;&gt;&lt;span&gt;www.widespread.co.nz&lt;/span&gt;&lt;/a&gt;&lt;span&gt;) and is updated daily. For more information on the Chatham Rise project see &lt;/span&gt;&lt;a href=&quot;http://www.rockphosphate.co.nz/&quot;&gt;&lt;span&gt;www.rockphosphate.co.nz&lt;/span&gt;&lt;/a&gt;&lt;span&gt;. &lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;For and on behalf of the Board,&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;Chris D Castle &lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;strong&gt;&lt;span&gt;Chifeng, 13 August 2010&lt;/span&gt;&lt;/strong&gt;&lt;span&gt; &lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
          </content>  </entry>
  <entry xml:base="http://widespread.co.nz/">
    <author>
      <name>WID</name>
    </author>
    <id>tag:widespread.co.nz,2010-08-05:23843</id>
    <published>2010-08-05T19:38:00Z</published>
    <updated>2010-08-05T19:50:06Z</updated>
    <category term="NZX Announcements"/>
    <link href="http://widespread.co.nz/2010/8/5/net-asset-backing-7" rel="alternate" type="text/html"/>
    <title>Net Asset Backing </title>
<content type="html">
            &lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;New Zealand Exchange Limited &lt;br /&gt;P.O. Box 2959 &lt;br /&gt;Wellington&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;6 August 2010&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;Dear Sir, &lt;br /&gt;&lt;br /&gt;&lt;strong&gt;Widespread Portfolios Net Asset Backing&lt;span&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp; &lt;/span&gt;&lt;/strong&gt;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;We wish to advise that the unaudited net asset backing per Widespread Portfolios share, as at 8 a.m. today, ranges from &lt;strong&gt;43.8 cents to 49.8 cents&lt;/strong&gt;.&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;The lower figure is based on &lt;strong&gt;the most recent sale price of AMR shares in Canada&lt;/strong&gt;, the higher one is based on &lt;strong&gt;our share of AMR&amp;rsquo;s net assets&lt;/strong&gt;. We consider the latter approach relevant as, despite recent dilution of our holding in percentage terms, we still hold a strategic stake and have both board representation in AMR and a continuing management influence. &lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;We don&amp;rsquo;t consider the most recent sale price in Canada to be an accurate indicator of AMR&amp;rsquo;s enterprise value as the stock is very thinly traded. The top 20 AMR shareholders are long-term holders who collectively hold 98.6% of the company and most of the remaining smaller shareholdings are registered in New Zealand and are therefore not easily traded in Canada&lt;span&gt;&amp;nbsp;&amp;nbsp; &lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;Portfolio Weighting&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;As can be seen from the table below the AMR shareholding is no longer our key asset. Our direct and indirect holdings in the Chatham Rise Rock Phosphate Project now hold that position.&lt;span&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; &lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;table&gt;
&lt;tbody&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;NET ASSET BACKING PER SHARE&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;h6&gt;&lt;span&gt;Per WID share&lt;/span&gt;&lt;/h6&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Per WID share&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Investment&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;AMR @ market&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;AMR at share of NTA&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;Chatham Rise Project (independent valuation)&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.249&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.249&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;Asian Minerals (AMR)&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.064&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.124&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;Widespread Energy (oil &amp;amp; gas assets)&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.041&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.041&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;King Solomon Mines&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.032&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.032&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;Other investments &amp;amp; cash&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.053&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.053&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Total ($NZ per WID share)&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;0.438&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;0.498&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Current WID share price&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;0.123&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;0.123&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Discount to Net Asset Backing &lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;71.9%&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;75.3%&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/tbody&gt;
&lt;/table&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;Diluted Net Assets per share&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;Using the share of AMR&amp;rsquo;s net assets approach, the fully diluted NTA per WID share is &lt;strong&gt;95 &lt;/strong&gt;cents 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.&lt;span&gt;&amp;nbsp; &lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;Net asset data is also available on our website (&lt;/span&gt;&lt;a href=&quot;http://www.widespread.co.nz/&quot;&gt;&lt;span&gt;www.widespread.co.nz&lt;/span&gt;&lt;/a&gt;&lt;span&gt;) and is updated daily. For more information on the Chatham Rise project see &lt;/span&gt;&lt;a href=&quot;http://www.rockphosphate.co.nz/&quot;&gt;&lt;span&gt;www.rockphosphate.co.nz&lt;/span&gt;&lt;/a&gt;&lt;span&gt;. &lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;For and on behalf of the Board,&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;Chris D Castle &lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;strong&gt;&lt;span&gt;Onekaka, 6 August 2010&lt;/span&gt;&lt;/strong&gt;&lt;span&gt; &lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
          </content>  </entry>
  <entry xml:base="http://widespread.co.nz/">
    <author>
      <name>WID</name>
    </author>
    <id>tag:widespread.co.nz,2010-08-01:23707</id>
    <published>2010-08-01T03:19:00Z</published>
    <updated>2010-08-01T03:21:56Z</updated>
    <category term="NZX Announcements"/>
    <link href="http://widespread.co.nz/2010/8/1/widespread-s-asian-minerals-details-nickel-reserve-increase" rel="alternate" type="text/html"/>
    <title>Widespread's Asian Minerals details nickel reserve increase</title>
<content type="html">
            &lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;New Zealand Exchange Limited &lt;br /&gt;P.O. Box 2959 &lt;br /&gt;Wellington&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;31 July 2010 &lt;br /&gt;&lt;br /&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;Dear Sir, &lt;br /&gt;&lt;br /&gt;&lt;strong&gt;Widespread&amp;rsquo;s Asian Minerals details nickel reserve increase &lt;span&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/span&gt;&lt;/strong&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;Asian Mineral Resources (&amp;ldquo;ASN&amp;rdquo;) is one of Widespread&amp;rsquo;s largest investments. This 4.3% shareholding (presently held at independent valuation based on our share of net assets) represents 24.7% of Widespread&amp;rsquo;s total assets.&lt;span&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; &lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;ASN made the announcement below in Canada last night concerning a 50% increase in reserves in the massive sulphide ore body. It follows recent announcements about increased resource status in each of the two ore bodies at Ban Phuc. &lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;As the report notes, &amp;ldquo;&lt;/span&gt;&lt;span&gt;the increase in reserves will have a major impact on the project economics&lt;/span&gt;&lt;span&gt; &lt;/span&gt;&lt;span&gt;and will afford ASN the flexibility to increase mine output to take advantage of &lt;/span&gt;&lt;span&gt;spare capacity in the current Ban Phuc process plant design. This is expected to translate to a significant increase in annual metal production&amp;rdquo;.&lt;/span&gt;&lt;span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;This is more good news for ASN that might one day be noticed by market observers.&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;F&lt;/span&gt;&lt;span&gt;or and on behalf of the Board,&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;Chris D Castle&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;Onekaka &lt;span&gt;&amp;nbsp;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;31 July 2010&lt;span&gt;&amp;nbsp; &lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;/span&gt;&lt;/span&gt;&lt;a&gt;&lt;/a&gt;&lt;span&gt;&lt;strong&gt;&lt;span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;&lt;strong&gt;&lt;span&gt;TSX-Venture: ASN&lt;/span&gt;&lt;/strong&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;&lt;span&gt;120 Adelaide Street West, Suite 2500, Toronto, Ontario&lt;span&gt;&amp;nbsp; &lt;/span&gt;M5H 1T1&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;&lt;span&gt;Email: &lt;/span&gt;&lt;/span&gt;&lt;a href=&quot;mailto:info@asianminres.com&quot;&gt;&lt;span&gt;&lt;span&gt;info@asianminres.com&lt;/span&gt;&lt;/span&gt;&lt;span&gt;&lt;/span&gt;&lt;/a&gt;&lt;span&gt;&lt;span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p&gt;&lt;span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;&lt;strong&gt;&lt;span&gt;Asian Mineral Resources Ltd announces 50% increase to Ban Phuc nickel reserves &lt;/span&gt;&lt;/strong&gt;&lt;strong&gt;&lt;span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Toronto, Ontario &amp;ndash; July 30, 2010, Asian Mineral Resources Limited (&amp;ldquo;AMR&amp;rdquo;)&lt;/span&gt;&lt;/strong&gt;&lt;span&gt; &lt;strong&gt;(TSX-V: ASN) &lt;/strong&gt;&lt;/span&gt;&lt;span&gt;announced today an increase in the massive sulphide Ni/Cu reserves at its Ban Phuc project in north western Vietnam. &lt;/span&gt;&lt;span&gt;The 36,000t of nickel estimated to be contained in the proven and probable reserves is an increase of 12,000t Ni (+50%) over previously reported estimates. The estimated contained copper has also increased by 6,000t (+60%) and now stands at 16,000t (Table 1).&lt;/span&gt;&lt;span&gt; &lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Table 1:&lt;/span&gt;&lt;/strong&gt;&lt;span&gt; Ban Phuc Project Reserve Statement&lt;/span&gt;&lt;/p&gt;
&lt;div&gt;
&lt;table&gt;
&lt;tbody&gt;
&lt;tr&gt;
&lt;td width=&quot;552&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Ban Phuc &amp;ndash; Massive Sulphide Reserves&lt;/span&gt;&lt;/strong&gt;&lt;strong&gt;&lt;span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;81&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Category&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;69&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Tonnes&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;(MT)&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;66&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Ni&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;(%)&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;60&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Cu&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;(%)&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;60&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Co&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;(%)&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;72&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Contained Nickel &lt;/span&gt;&lt;/strong&gt;&lt;span&gt;(000&amp;rsquo;t)&lt;strong&gt;&lt;/strong&gt;&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;72&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Contained Copper &lt;/span&gt;&lt;/strong&gt;&lt;span&gt;(000&amp;rsquo;t)&lt;strong&gt;&lt;/strong&gt;&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;72&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Contained Cobalt &lt;/span&gt;&lt;/strong&gt;&lt;span&gt;(000&amp;rsquo;t)&lt;strong&gt;&lt;/strong&gt;&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;81&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;Proven&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;69&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.71&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;66&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;2.4&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;60&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;1.0&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;60&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.06&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;72&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;17&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;72&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;7&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;72&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.4&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;81&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;Probable&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;69&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.91&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;66&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;2.1&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;60&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;1.0&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;60&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.04&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;72&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;19&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;72&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;9&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;72&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.4&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;81&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Total&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;69&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;1.62&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;66&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;2.2&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;60&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;1.0&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;60&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;0.05&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;72&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;36&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;72&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;16&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;72&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;0.8&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/tbody&gt;
&lt;/table&gt;
&lt;/div&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;em&gt;&lt;span&gt;The Qualified Person for the new reserve estimate and National Instrument 43-101 compliance is Chris Desoe, &lt;/span&gt;&lt;/em&gt;&lt;em&gt;&lt;span&gt;BE (Mining), &lt;/span&gt;&lt;/em&gt;&lt;em&gt;&lt;span&gt;Member of the &lt;span&gt;Australasian Institute of Mining and Metallurgy (M&lt;/span&gt;AusIMM), Member &lt;/span&gt;&lt;/em&gt;&lt;em&gt;&lt;span&gt;Mineral Industry Consultants Association,&lt;/span&gt;&lt;/em&gt;&lt;em&gt;&lt;span&gt; of Australian Mine Design and Development Pty Ltd (AMDAD). Mr. Desoe has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration, and to the activity he is undertaking, to act as a Qualified Person as defined by NI 43-101. Mr. Desoe consents to the inclusion of such information in this news release in the form and context in which it appears.&lt;/span&gt;&lt;/em&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;em&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&amp;ldquo;This result further demonstrates the potential of our Ban Phuc asset and comes on the back a successful campaign targeted at improving project value. The increase in reserves will have a major impact on the project economics and will afford us the flexibility to increase mine output to take advantage of &lt;/span&gt;&lt;/em&gt;&lt;em&gt;&lt;span&gt;spare capacity in the current Ban Phuc process plant design. We expect this will translate to a significant increase in annual metal production&lt;/span&gt;&lt;/em&gt;&lt;em&gt;&lt;span&gt;&amp;rdquo;&lt;/span&gt;&lt;/em&gt;&lt;span&gt; commented Rob Guest, CEO of AMR.&lt;em&gt;&lt;/em&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;The experience gained during the development of the two portals (Figure 1) and the exposure of the orebody on two separate horizons provided valuable insight into the geology and ground conditions that can be expected during production and this, together with the increased confidence in the resource, precipitated a review of the mine design. Geotechnical studies concluded that the level spacing could be increased from 15m to 20m. In addition the success of the strike drilling program, which confirmed that the deposit is open down dip to the west led to a repositioning of the lower access decline to optimize tramming distances and improve productivity (Figure 2). &lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Figure 1: &lt;/span&gt;&lt;/strong&gt;&lt;span&gt;Massive sulphide reserves, current infrastructure in red, proximity of &amp;ldquo;Select&amp;rdquo; disseminated &amp;ndash; Plan View.&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Figure 2: &lt;/span&gt;&lt;/strong&gt;&lt;span&gt;Massive sulphide reserves (green &amp;amp; blue), current (red) and design infrastructure &amp;ndash; Long Section&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Quality Assurance and Contributing Experts&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;table&gt;
&lt;thead&gt;
&lt;tr&gt;
&lt;td width=&quot;162&quot;&gt;
&lt;p class=&quot;MsoPlainText&quot;&gt;&lt;strong&gt;&lt;span&gt;EXPERT PERSON / COMPANY&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;486&quot;&gt;
&lt;p class=&quot;MsoPlainText&quot;&gt;&lt;strong&gt;&lt;span&gt;AREA OF EXPERTISE&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/thead&gt;
&lt;tbody&gt;
&lt;tr&gt;
&lt;td width=&quot;162&quot;&gt;
&lt;p class=&quot;MsoPlainText&quot;&gt;&lt;span&gt;Dr Bielin Shi&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoPlainText&quot;&gt;&lt;span&gt;(CSA Global Pty Ltd)&lt;/span&gt;&lt;span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;486&quot;&gt;
&lt;p class=&quot;MsoPlainText&quot;&gt;&lt;span&gt;Geological modeling, resource modeling, resource estimate. See Press Release &lt;/span&gt;&lt;span&gt;&lt;a href=&quot;http://asianminres.com/Portals/1162/Documents/PDF%202010/News%209June10.pdf&quot;&gt;&lt;span&gt;9 June 2010&lt;/span&gt;&lt;/a&gt;&lt;/span&gt;&lt;span&gt;.&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;162&quot;&gt;
&lt;p class=&quot;MsoPlainText&quot;&gt;&lt;span&gt;Robert Bertuzzi&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoPlainText&quot;&gt;&lt;span&gt;(Pells Sullivan Meynink)&lt;/span&gt;&lt;span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;486&quot;&gt;
&lt;p class=&quot;MsoPlainText&quot;&gt;&lt;span&gt;Underground stope pillar, and crown pillar sizes, geotechnical, and expected dilution estimates.&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;162&quot;&gt;
&lt;p class=&quot;MsoPlainText&quot;&gt;&lt;span&gt;Doug Parbery&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoPlainText&quot;&gt;&lt;span&gt;(AMDAD)&lt;/span&gt;&lt;span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;486&quot;&gt;
&lt;p class=&quot;MsoPlainText&quot;&gt;&lt;span&gt;Underground operations including methods of mining, dilution/loss, mining inventory estimate. Underground design, schedules and estimation of mineral reserves tons and grade.&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;162&quot;&gt;
&lt;p class=&quot;MsoPlainText&quot;&gt;&lt;span&gt;Robert Guest&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoPlainText&quot;&gt;&lt;span&gt;(AMR/Ban Phuc Nickel Mines)&lt;/span&gt;&lt;span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;486&quot;&gt;
&lt;p class=&quot;MsoPlainText&quot;&gt;&lt;span&gt;Operating costs, process assumptions, metal prices, selling costs, assessment of project viability based on life of mine schedule.&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/tbody&gt;
&lt;/table&gt;
&lt;p class=&quot;MsoPlainText&quot;&gt;&lt;span&gt;The technical information supplied to AMDAD was reviewed by Simon Mottram, MAusIMM and an AMR employee. Mr. Mottram is a Qualified Person as defined by National Instrument 43‐101. F&lt;/span&gt;&lt;span&gt;or more detailed information regarding the Ban Phuc massive sulphide deposit please refer to &lt;/span&gt;&lt;span&gt;&lt;a href=&quot;http://asianminres.com/Portals/1162/Documents/Tech_Rpt(NI43-101)_2007.pdf&quot; title=&quot;&amp;amp;amp;docClass=24&amp;amp;amp;issuerNo=00020615&amp;amp;amp;fileName=/csfsprod/data84/filings/01157195/00000001/C%3A%5CSedarf%5CA%5CAsian%5CTechRep%5CRep.pdf&quot;&gt;&lt;em&gt;&lt;span&gt;Technical report (NI 43-101) - English&lt;/span&gt;&lt;/em&gt;&lt;/a&gt;&lt;/span&gt;&lt;em&gt;&lt;span&gt; &lt;/span&gt;&lt;/em&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;- August 2007, that can be found at&lt;span&gt; &lt;/span&gt;&lt;/span&gt;&lt;span&gt;&lt;a href=&quot;http://www.sedar.com/&quot;&gt;&lt;em&gt;&lt;span&gt;www.sedar.com&lt;/span&gt;&lt;/em&gt;&lt;/a&gt;&lt;/span&gt;&lt;span&gt;.&lt;span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;Default&quot;&gt;&lt;strong&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;Default&quot;&gt;&lt;strong&gt;&lt;span&gt;Company Profile:&lt;/span&gt;&lt;/strong&gt;&lt;span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;em&gt;&lt;span&gt;Asian Mineral Resources Limited operates in Vietnam through its 90% owned Vietnam subsidiary Ban Phuc Nickel Mines LLC which is developing the Ban Phuc sulphide deposit in Son La province 5 hours drive north-west of Hanoi. Construction of the project, which is targeting the production of 60,000tpa of concentrate containing nickel/copper/cobalt was suspended in October 2008 when metal prices were under pressure from the world financial crisis. With over 1,000m of u/g development and 80% of all plant equipment purchased, the project is approximately 65% complete and work can recommence once funding has been secured. For further information, please refer to the company website at &lt;/span&gt;&lt;/em&gt;&lt;a href=&quot;http://www.asianminres.com/&quot;&gt;&lt;em&gt;&lt;span&gt;www.asianminres.com&lt;/span&gt;&lt;/em&gt;&lt;/a&gt;&lt;em&gt;&lt;span&gt; or contact: &lt;/span&gt;&lt;/em&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;em&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/em&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;em&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/em&gt;&lt;/p&gt;
&lt;table&gt;
&lt;tbody&gt;
&lt;tr&gt;
&lt;td width=&quot;291&quot;&gt;
&lt;p class=&quot;Default&quot;&gt;&lt;strong&gt;&lt;span&gt;Rob Guest, CEO&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;#9 Nguyen Hong Street&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;Ba Dinh District, Hanoi, Viet Nam&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;T:&lt;span&gt;&amp;nbsp;&amp;nbsp; &lt;/span&gt;+84 4 3773 7997&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;F:&lt;span&gt;&amp;nbsp;&amp;nbsp; &lt;/span&gt;+84 4 3773 7996&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;Default&quot;&gt;&lt;span&gt;Email:&lt;span&gt;&amp;nbsp; &lt;/span&gt;&lt;/span&gt;&lt;span&gt;&lt;a href=&quot;mailto:rguest@banphucnickel.vn&quot;&gt;&lt;span&gt;rguest@banphucnickel.vn&lt;/span&gt;&lt;/a&gt;&lt;/span&gt;&lt;span&gt; &lt;/span&gt;&lt;strong&gt;&lt;span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;291&quot;&gt;
&lt;p class=&quot;Default&quot;&gt;&lt;strong&gt;&lt;span&gt;Paula Kember, CFO&lt;/span&gt;&lt;/strong&gt;&lt;span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;Default&quot;&gt;&lt;span&gt;120 Adelaide Street West, Suite 2500 &lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;Default&quot;&gt;&lt;span&gt;Toronto, ON M5H 1T1 &lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;Default&quot;&gt;&lt;span&gt;T: 416 360 3412 &lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;Default&quot;&gt;&lt;span&gt;F: 416 367 1954 &lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;Default&quot;&gt;&lt;span&gt;E:&lt;span&gt;&amp;nbsp; &lt;/span&gt;&lt;/span&gt;&lt;span&gt;&lt;a href=&quot;mailto:info@asianminres.com&quot;&gt;&lt;span&gt;info@asianminres.com&lt;/span&gt;&lt;/a&gt;&lt;/span&gt;&lt;strong&gt;&lt;span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/tbody&gt;
&lt;/table&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Forward-Looking Statements&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;Default&quot;&gt;&lt;span&gt;This press release includes certain &quot;Forward-Looking Statements.&quot; All statements, other than statements of historical fact, included herein, including without limitation, statements regarding potential mineralization and reserves, exploration results and future plans and objectives of Asian Mineral Resources Limited are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Asian Mineral Resources Limited&amp;rsquo;s expectations are disclosed under the heading &quot;Risk Factors&quot; and elsewhere in Asian Mineral Resources Limited documents filed from time-to-time with the TSX Venture Exchange and other regulatory authorities. &lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;Default&quot;&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.&lt;/span&gt;&lt;/strong&gt;&lt;strong&gt;&lt;span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
          </content>  </entry>
  <entry xml:base="http://widespread.co.nz/">
    <author>
      <name>WID</name>
    </author>
    <id>tag:widespread.co.nz,2010-07-29:23658</id>
    <published>2010-07-29T21:44:00Z</published>
    <updated>2010-07-29T21:57:42Z</updated>
    <category term="NZX Announcements"/>
    <link href="http://widespread.co.nz/2010/7/29/king-solomon-mines-quarterly-report" rel="alternate" type="text/html"/>
    <title>King Solomon Mines Quarterly Report </title>
<content type="html">
            &lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;New Zealand Exchange Limited &lt;br /&gt;P.O. Box 2959 &lt;br /&gt;Wellington&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;30 July 2010 &lt;br /&gt;&lt;br /&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;Dear Sir, &lt;br /&gt;&lt;br /&gt;&lt;strong&gt;King Solomon Mines Quarterly Report&lt;span&gt;&amp;nbsp; &lt;/span&gt;&lt;/strong&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;China based King Solomon Mines (&amp;ldquo;KSO&amp;rdquo;) is one of Widespread&amp;rsquo;s cornerstone investments, and represents 6.3% of our total assets at its present market value of AUD 5.9 cents a share. We are the largest individual shareholder in KSO with a holding of 11%.&lt;span&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; &lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;KSO yesterday released its quarterly report to the ASX. This report included for the first time a &amp;ldquo;strategic summary&amp;rdquo;, in effect an interpretative section easier for shareholders to follow.&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;This summary is included below and should be read in the context of the entire quarterly report which is filed with ASX and also available at &lt;/span&gt;&lt;a href=&quot;http://www.kingsolomonmines.com/&quot;&gt;&lt;span&gt;www.kingsolomonmines.com&lt;/span&gt;&lt;/a&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp; &lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;For and on behalf of the Board,&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;Chris D Castle &lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;Sydney, 30 July 2010&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;Default&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;Default&quot;&gt;&lt;span&gt;&lt;span&gt;King Solomon Mines Limited &lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;29 July 2010&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoHeading7&quot;&gt;&lt;strong&gt;&lt;span&gt;Strategic Summary &lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;The company was focused through the quarter on completion of first stage drilling of its Sonid Zuoqi gold projects while at the same time continuing the investigation of its large scale longer-term Bu Dun Hua porphyry copper project. &lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;Default&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;Early encouragement from drilling has been provided by the discovery of gold at the Mud-house prospect at Sonid North. &lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;Encouragement has also come from identification of a gold-silver prospect adjacent to the Bu Dun Hua porphyry copper prospect. A sample result at surface yielded 481 g/t silver with significant other minerals present. Drilling of this prospect is expected to start on 30 July. &lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;Further encouragement is provided by the veining identified in the drilling at South Ridge (Naogaoshandu) and Round Hill (Beyinhar North). Assays for these prospects are expected in the near future. &lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;Drilling continued on the large scale porphyry copper-molybdenum prospect at Bu Dun Hua. Assays are awaited from 5 diamond holes for 1,422m. &lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;&lt;span&gt;Exploration for the next quarter will focus on following up success in the assay results. An immediate drill target has been identified through the Mud-house results.&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
          </content>  </entry>
  <entry xml:base="http://widespread.co.nz/">
    <author>
      <name>WID</name>
    </author>
    <id>tag:widespread.co.nz,2010-07-29:23656</id>
    <published>2010-07-29T20:36:00Z</published>
    <updated>2010-07-29T21:37:24Z</updated>
    <category term="NZX Announcements"/>
    <link href="http://widespread.co.nz/2010/7/29/net-asset-backing-6" rel="alternate" type="text/html"/>
    <title>Net Asset Backing </title>
<content type="html">
            &lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;New Zealand Exchange Limited &lt;br /&gt;P.O. Box 2959 &lt;br /&gt;Wellington&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;30 July 2010&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;Dear Sir, &lt;br /&gt;&lt;br /&gt;&lt;strong&gt;Widespread Portfolios Net Asset Backing&lt;span&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp; &lt;/span&gt;&lt;/strong&gt;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;We wish to advise that the unaudited net asset backing per Widespread Portfolios share, as at 8 a.m. today, ranges from &lt;strong&gt;43.6 cents to 49.5 cents&lt;/strong&gt;.&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;The lower figure is based on &lt;strong&gt;the most recent sale price of AMR shares in Canada&lt;/strong&gt;, the higher one is based on &lt;strong&gt;our share of AMR&amp;rsquo;s net assets&lt;/strong&gt;. We consider the latter approach relevant as, despite recent dilution of our holding in percentage terms, we still hold a strategic stake and have both board representation in AMR and a continuing management influence. &lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;We don&amp;rsquo;t consider the most recent sale price in Canada to be an accurate indicator of AMR&amp;rsquo;s enterprise value as the stock is very thinly traded. The top 20 AMR shareholders are long-term holders who collectively hold 98.6% of the company and most of the remaining smaller shareholdings are registered in New Zealand and are therefore not easily traded in Canada&lt;span&gt;&amp;nbsp;&amp;nbsp; &lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;Portfolio Weighting&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;As can be seen from the table below the AMR shareholding is no longer our key asset. Our direct and indirect holdings in the Chatham Rise Rock Phosphate Project now hold that position.&lt;span&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; &lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;table&gt;
&lt;tbody&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;NET ASSET BACKING PER SHARE&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;h6&gt;&lt;span&gt;Per WID share&lt;/span&gt;&lt;/h6&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Per WID share&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Investment&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;AMR @ market&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;AMR at share of NTA&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;Chatham Rise Project (independent valuation)&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.249&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.249&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;Asian Minerals (AMR)&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.063&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.122&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;Widespread Energy (oil &amp;amp; gas assets)&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.041&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.041&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;King Solomon Mines&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.031&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.031&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;Other investments &amp;amp; cash&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.052&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.052&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Total ($NZ per WID share)&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;0.436&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;0.495&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Current WID share price&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;0.12&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;0.12&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Discount to Net Asset Backing &lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;72.5%&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;75.8%&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/tbody&gt;
&lt;/table&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;Diluted Net Assets per share&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;Using the share of AMR&amp;rsquo;s net assets approach, the fully diluted NTA per WID share is &lt;strong&gt;95 &lt;/strong&gt;cents 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.&lt;span&gt;&amp;nbsp; &lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;Net asset data is also available on our website (&lt;/span&gt;&lt;a href=&quot;http://www.widespread.co.nz/&quot;&gt;&lt;span&gt;www.widespread.co.nz&lt;/span&gt;&lt;/a&gt;&lt;span&gt;) and is updated daily. For more information on the Chatham Rise project see &lt;/span&gt;&lt;a href=&quot;http://www.rockphosphate.co.nz/&quot;&gt;&lt;span&gt;www.rockphosphate.co.nz&lt;/span&gt;&lt;/a&gt;&lt;span&gt;. &lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;For and on behalf of the Board,&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;Chris D Castle &lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;strong&gt;&lt;span&gt;Sydney, 30 July 2010&lt;/span&gt;&lt;/strong&gt;&lt;span&gt; &lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
          </content>  </entry>
  <entry xml:base="http://widespread.co.nz/">
    <author>
      <name>WID</name>
    </author>
    <id>tag:widespread.co.nz,2010-07-22:23460</id>
    <published>2010-07-22T20:37:00Z</published>
    <updated>2010-07-22T20:50:32Z</updated>
    <category term="NZX Announcements"/>
    <link href="http://widespread.co.nz/2010/7/22/widespread-s-asian-minerals-announces-increased-nickel-resources" rel="alternate" type="text/html"/>
    <title>Widespread's Asian Minerals announces increased nickel resources </title>
<content type="html">
            &lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;New Zealand Exchange Limited &lt;br /&gt;P.O. Box 2959 &lt;br /&gt;Wellington&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;23 July 2010 &lt;br /&gt;&lt;br /&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;Dear Sir, &lt;br /&gt;&lt;br /&gt;&lt;strong&gt;Widespread&amp;rsquo;s Asian Minerals announces further increase in nickel resources&lt;span&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp; &lt;/span&gt;&lt;/strong&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;Asian Mineral Resources (&amp;ldquo;ASN&amp;rdquo;) is one of Widespread&amp;rsquo;s largest investments. This 4.3% shareholding (presently held at independent valuation based on our share of net assets) represents 25% of Widespread&amp;rsquo;s total assets.&lt;span&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; &lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;ASN made the announcement below in Canada last night concerning a 55% increase in resources in the disseminated nickel orebody. It follows the recent announcement (9 June 2010) concerning a 40% increase in the massive sulphide orebody resources. &lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;The two increases combined (39,000 tonnes) represent a material change in the measured and indicated categories of the mine resources. To better illustrate this point, the present in-situ market value of the additional 39,000 tonnes of nickel exceeds USD 750 million. &lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;Total measured and indicated resources at Ban Phuc are now 119,200 tonnes with an in-situ market value today of USD 2.35 billion. &lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;And, as the disseminated nickel ore can be blended with the massive sulphide ore when processing, the increased resources also benefit the value of the project by increasing the life of the mine. &lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;F&lt;/span&gt;&lt;span&gt;or and on behalf of the Board,&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;Chris D Castle&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;Wellington&lt;span&gt;&amp;nbsp; &lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;23 July 2010&lt;span&gt;&amp;nbsp; &lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;TSX-Venture: ASN&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;120 Adelaide Street West, Suite 2500, Toronto, Ontario M5H 1T1&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;Email: &lt;/span&gt;&lt;span&gt;info@asianminres.com&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Asian Mineral Resources Limited announces 55% increase in Ban Phuc disseminated&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;resources&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Toronto, Ontario &amp;ndash; July 22, 2010, Asian Mineral Resources Limited (&amp;ldquo;AMR&amp;rdquo;) (TSX-V: ASN) &lt;/span&gt;&lt;/strong&gt;&lt;span&gt;announced today&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;an increase in the disseminated sulphide resources at its Ban Phuc nickel-copper project in north western&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;Vietnam. The contained nickel in the Measured and Indicated categories has increased to 73,900t Ni in 12.4MT&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;@ a grade of 0.59% Ni (Table 1), an increase of 55% over the previous figures.&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Table 1&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Ban Phuc - Disseminated Sulphide Resource Estimate&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;em&gt;&lt;span&gt;Using a cut-off of 0.40% nickel&lt;/span&gt;&lt;/em&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Category Tonnes (000&amp;rsquo;) Ni % Cu % Nickel (t) Copper (t)&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;Measured 2,230 0.63 0.08 14,100 1,800&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;Indicated 10,245 0.58 0.04 59,800 3,900&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Measured + Indicated 12,476 0.59 0.05 73,900 5,700&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;Inferred 7,415 0.56 0.01 41,700 700&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;em&gt;&lt;span&gt;The Qualified Person for the new estimate and National Instrument 43-101 compliance is Dr Bielin Shi, Member of&lt;/span&gt;&lt;/em&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;em&gt;&lt;span&gt;the Australasian Institute of Mining and Metallurgy (MAusIMM), of CSA Global &amp;ndash; Perth, Australia. Dr. Shi has&lt;/span&gt;&lt;/em&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;em&gt;&lt;span&gt;sufficient experience which is relevant to the style of mineralization and type of deposit under consideration, and to&lt;/span&gt;&lt;/em&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;em&gt;&lt;span&gt;the activity he is undertaking, to act as a Qualified Person as defined by NI 43-101. Dr Shi consents to the inclusion of&lt;/span&gt;&lt;/em&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;em&gt;&lt;span&gt;such information in this news release in the form and context in which it appears.&lt;/span&gt;&lt;/em&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;This increase in disseminated resources follows the increase in the massive sulphide resources previously&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;announced and is the result of a concerted drill program designed to test the integrity and continuity of the&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;disseminated mineralisation which lies in close proximity to the massive resource (Figure 1 &amp;amp; 2).&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;Figure 1&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;Together with the recently announced increase in massive sulphide resources the Ban Phuc project now has a&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;total of 119,200t of nickel contained in a Measured and Indicated resource of 14.1MT @ 0.84% Ni (Table 2)&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;Asian Mineral Resources Limited&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;2&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Table 2&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Ban Phuc &amp;ndash; Total Resource Estimate&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;em&gt;&lt;span&gt;Using a cut-off of 0.40% nickel&lt;/span&gt;&lt;/em&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Category Tonnes (000&amp;rsquo;) Ni % Cu % Nickel (t) Copper (t)&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Measured and Indicated&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;Massive sulphides 1,691 2.68 1.19 45,328 20,143&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;Disseminated sulphides 12,476 0.59 0.05 73,900 5,700&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Massive + Disseminated 14,167 0.84 0.19 119,238 25,843&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Inferred&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;Massive sulphide 170 1.94 0.81 3,303 1,361&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;Disseminated sulphides 7,415 0.56 0.01 41,700 700&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Massive + Disseminated 7,585 0.59 0.03 45,003 2,061&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;Within the disseminated resource lies an area of &amp;lsquo;select disseminated&amp;rsquo; (Figure 2) which is adjacent to the&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;massive sulphide and is readily accessible from the underground infrastructure needed to mine the massive&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;sulphide resource. This zone offers potential for bulk mining methods which could provide supplemental feed&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;to take advantage of spare capacity in the current Ban Phuc plant design. Preliminary metallurgical test work&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;has confirmed that Ban Phuc disseminated material can be blended with the massive sulphide and processed&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;via the existing flowsheet without negatively impacting on recovery or the saleability of the concentrate.&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;Figure 2 &lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;span&gt;Cross Section 50,000E Showing Massive Sulphide and Disseminated Sulphide Lodes&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;Asian Mineral Resources Limited&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;3&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Table 3&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Ban Phuc - &amp;ldquo;Select&amp;rdquo; Disseminated Resource Estimate&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;em&gt;&lt;span&gt;Using a cut-off of 0.40% nickel&lt;/span&gt;&lt;/em&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Category Tonnes (000&amp;rsquo;) Ni % Cu % Nickel (t) Copper (t)&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;Measured 1,552 0.62 0.10 10,100 2,100&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;Indicated 579 0.51 0.02 3,100 100&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Measured + Indicated 2,131 0.59 0.08 13,100 2,100&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;em&gt;&lt;span&gt;&amp;ldquo;The definition of the new &amp;lsquo;Select&amp;rsquo; disseminated (Table 3) resource in close proximity to the underground&lt;/span&gt;&lt;/em&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;em&gt;&lt;span&gt;development currently planned that can be treated either concurrently or separately with the massive ore&lt;/span&gt;&lt;/em&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;em&gt;&lt;span&gt;which opens new possibilities for further value creation and optimization of the underground mine.&amp;rdquo;&lt;/span&gt;&lt;/em&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;commented Rob Guest, CEO of AMR. &amp;ldquo;&lt;/span&gt;&lt;em&gt;&lt;span&gt;The economics are under review as the wide intersections encountered&lt;/span&gt;&lt;/em&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;em&gt;&lt;span&gt;offer potential to employ cheaper bulk mining methods and the availability of excess capacity in the process&lt;/span&gt;&lt;/em&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;em&gt;&lt;span&gt;plant allows the ore to be treated on a marginal basis&amp;rdquo;.&lt;/span&gt;&lt;/em&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Company Profile:&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;Asian Mineral Resources Limited has been active in Vietnam since 1993 and through its 90% owned Vietnam&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;subsidiary Ban Phuc Nickel Mines LLC is developing the Ban Phuc sulphide deposit in Son La province 5 hours&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;drive north-west of Hanoi. Construction of the project, which is targeting the production of 60,000tpa of&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;concentrate containing nickel/copper/cobalt was suspended in October 2008 when metal prices were under&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;pressure from the world financial crisis. With over 1,000m of underground development and 80% of all plant&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;equipment purchased, the project is approximately 65% complete and is currently under care &amp;amp; maintenance&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;pending receipt of funding to complete construction. For further information, please refer to the company&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;website at &lt;/span&gt;&lt;span&gt;www.asianminres.com &lt;/span&gt;&lt;span&gt;or contact:&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Rob Guest, CEO&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;#9 Nguyen Hong Street&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;Ba Dinh District, Hanoi, Viet Nam&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;T: +84 4 3773 7997&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;F: +84 4 3773 7996&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;Email: &lt;/span&gt;&lt;span&gt;rguest@banphucnickel.vn&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Paula Kember, CFO&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;120 Adelaide Street West, Suite 2500&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;Toronto, ON M5H 1T1&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;T: 416 360 3412&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;F: 416 367 1954&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;E: &lt;/span&gt;&lt;span&gt;info@asianminres.com&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Quality Assurance&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;The technical information supplied to CSA was reviewed by Simon Mottram, MAusIMM and an AMR employee. Mr. Mottram is a Qualified&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;Person as defined by National Instrument 43-101. For more detailed information regarding the Ban Phuc massive sulphide deposit please&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;refer to &lt;/span&gt;&lt;em&gt;&lt;span&gt;Technical report (NI 43-101) - English &lt;/span&gt;&lt;/em&gt;&lt;span&gt;- August 2007, that can be found at &lt;/span&gt;&lt;em&gt;&lt;span&gt;www.sedar.com&lt;/span&gt;&lt;/em&gt;&lt;span&gt;.&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Forward-Looking Statements&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;This press release includes certain &quot;Forward-Looking Statements.&quot; All statements, other than statements of historical fact, included herein,&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;including without limitation, statements regarding potential mineralization and reserves, exploration results and future plans and&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;objectives of Asian Mineral Resources Limited are forward-looking statements that involve various risks and uncertainties. There can be no&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;assurance that such statements will prove to be accurate and actual results and future events could differ materially from those&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;anticipated in such statements. Important factors that could cause actual results to differ materially from Asian Mineral Resources&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;Limited&amp;rsquo;s expectations are disclosed under the heading &quot;Risk Factors&quot; and elsewhere in Asian Mineral Resources Limited documents filed&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;from time-to-time with the TSX Venture Exchange and other regulatory authorities.&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;news release.&lt;/span&gt;&lt;/strong&gt;&lt;strong&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
          </content>  </entry>
  <entry xml:base="http://widespread.co.nz/">
    <author>
      <name>WID</name>
    </author>
    <id>tag:widespread.co.nz,2010-07-22:23461</id>
    <published>2010-07-22T20:03:00Z</published>
    <updated>2010-07-22T21:04:14Z</updated>
    <category term="NZX Announcements"/>
    <link href="http://widespread.co.nz/2010/7/22/net-asset-backing-5" rel="alternate" type="text/html"/>
    <title>Net Asset Backing </title>
<content type="html">
            &lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;New Zealand Exchange Limited &lt;br /&gt;P.O. Box 2959 &lt;br /&gt;Wellington&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;23 July 2010&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;Dear Sir, &lt;br /&gt;&lt;br /&gt;&lt;strong&gt;Widespread Portfolios Net Asset Backing&lt;span&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp; &lt;/span&gt;&lt;/strong&gt;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;We wish to advise that the unaudited net asset backing per Widespread Portfolios share, as at 8 a.m. today, ranges from &lt;strong&gt;42.7 cents to 49 cents&lt;/strong&gt;.&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;The lower figure is based on &lt;strong&gt;the most recent sale price of AMR shares in Canada&lt;/strong&gt;, the higher one is based on &lt;strong&gt;our share of AMR&amp;rsquo;s net assets&lt;/strong&gt;. We consider the latter approach relevant as, despite recent dilution of our holding in percentage terms, we still hold a strategic stake and have both board representation in AMR and a continuing management influence. &lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;We don&amp;rsquo;t consider the most recent sale price in Canada to be an accurate indicator of AMR&amp;rsquo;s enterprise value as the stock is very thinly traded. The top 20 AMR shareholders are long-term holders who collectively hold 98.6% of the company and most of the remaining smaller shareholdings are registered in New Zealand and are therefore not easily traded in Canada&lt;span&gt;&amp;nbsp;&amp;nbsp; &lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;Portfolio Weighting&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;As can be seen from the table below the AMR shareholding is no longer our key asset. Our direct and indirect holdings in the Chatham Rise Rock Phosphate Project now hold that position.&lt;span&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; &lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;table&gt;
&lt;tbody&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;NET ASSET BACKING PER SHARE&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;h6&gt;&lt;span&gt;Per WID share&lt;/span&gt;&lt;/h6&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Per WID share&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Investment&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;AMR @ market&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;AMR at share of NTA&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;Chatham Rise Project (independent valuation)&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.249&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.249&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;Asian Minerals (AMR)&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.059&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.122&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;Widespread Energy (oil &amp;amp; gas assets)&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.041&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.041&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;King Solomon Mines&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.026&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.026&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;Other investments &amp;amp; cash&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.053&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.053&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Total ($NZ per WID share)&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;0.427&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;0.490&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Current WID share price&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;0.119&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;0.119&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Discount to Net Asset Backing &lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;72.1%&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;75.7%&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/tbody&gt;
&lt;/table&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;Diluted Net Assets per share&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;Using the share of AMR&amp;rsquo;s net assets approach, the fully diluted NTA per WID share is &lt;strong&gt;94 &lt;/strong&gt;cents 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.&lt;span&gt;&amp;nbsp; &lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;Net asset data is also available on our website (&lt;/span&gt;&lt;a href=&quot;http://www.widespread.co.nz/&quot;&gt;&lt;span&gt;www.widespread.co.nz&lt;/span&gt;&lt;/a&gt;&lt;span&gt;) and is updated daily. For more information on the Chatham Rise project see &lt;/span&gt;&lt;a href=&quot;http://www.rockphosphate.co.nz/&quot;&gt;&lt;span&gt;www.rockphosphate.co.nz&lt;/span&gt;&lt;/a&gt;&lt;span&gt;. &lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;For and on behalf of the Board,&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;Chris D Castle &lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;strong&gt;&lt;span&gt;Wellington, 23 July 2010&lt;/span&gt;&lt;/strong&gt;&lt;span&gt; &lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
          </content>  </entry>
  <entry xml:base="http://widespread.co.nz/">
    <author>
      <name>WID</name>
    </author>
    <id>tag:widespread.co.nz,2010-07-16:23325</id>
    <published>2010-07-16T02:04:00Z</published>
    <updated>2010-07-16T03:05:51Z</updated>
    <category term="NZX Announcements"/>
    <link href="http://widespread.co.nz/2010/7/16/net-asset-backing-4" rel="alternate" type="text/html"/>
    <title>Net Asset Backing </title>
<content type="html">
            &lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;New Zealand Exchange Limited &lt;br /&gt;P.O. Box 2959 &lt;br /&gt;Wellington&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;16 July 2010&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;Dear Sir, &lt;br /&gt;&lt;br /&gt;&lt;strong&gt;Widespread Portfolios Net Asset Backing&lt;span&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp; &lt;/span&gt;&lt;/strong&gt;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;We wish to advise that the unaudited net asset backing per Widespread Portfolios share, as at 8 a.m. today, ranges from &lt;strong&gt;42.7 cents to 49 cents&lt;/strong&gt;.&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;The lower figure is based on &lt;strong&gt;the most recent sale price of AMR shares in Canada&lt;/strong&gt;, the higher one is based on &lt;strong&gt;our share of AMR&amp;rsquo;s net assets&lt;/strong&gt;. We consider the latter approach relevant as, despite recent dilution of our holding in percentage terms, we still hold a strategic stake and have both board representation in AMR and a continuing management influence. &lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;We don&amp;rsquo;t consider the most recent sale price in Canada to be an accurate indicator of AMR&amp;rsquo;s enterprise value as the stock is very thinly traded. The top 20 AMR shareholders are long-term holders who collectively hold 98.6% of the company and most of the remaining smaller shareholdings are registered in New Zealand and are therefore not easily traded in Canada&lt;span&gt;&amp;nbsp;&amp;nbsp; &lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;Portfolio Weighting&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;As can be seen from the table below the AMR shareholding is no longer our key asset. Our direct and indirect holdings in the Chatham Rise Rock Phosphate Project now hold that position.&lt;span&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; &lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;table&gt;
&lt;tbody&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;NET ASSET BACKING PER SHARE&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;h6&gt;&lt;span&gt;Per WID share&lt;/span&gt;&lt;/h6&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Per WID share&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Investment&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;AMR @ market&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;AMR at share of NTA&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;Chatham Rise Project (independent valuation)&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.249&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.249&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;Asian Minerals (AMR)&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.059&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.122&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;Widespread Energy (oil &amp;amp; gas assets)&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.040&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.040&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;King Solomon Mines&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.025&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.025&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;Other investments &amp;amp; cash&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.053&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.053&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Total ($NZ per WID share)&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;0.427&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;0.490&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Current WID share price&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;0.125&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;0.125&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Discount to Net Asset Backing &lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;70.7%&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;74.5%&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/tbody&gt;
&lt;/table&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;Diluted Net Assets per share&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;Using the share of AMR&amp;rsquo;s net assets approach, the fully diluted NTA per WID share is &lt;strong&gt;94 &lt;/strong&gt;cents 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.&lt;span&gt;&amp;nbsp; &lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;Net asset data is also available on our website (&lt;/span&gt;&lt;a href=&quot;http://www.widespread.co.nz/&quot;&gt;&lt;span&gt;www.widespread.co.nz&lt;/span&gt;&lt;/a&gt;&lt;span&gt;) and is updated daily. For more information on the Chatham Rise project see &lt;/span&gt;&lt;a href=&quot;http://www.rockphosphate.co.nz/&quot;&gt;&lt;span&gt;www.rockphosphate.co.nz&lt;/span&gt;&lt;/a&gt;&lt;span&gt;. &lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;For and on behalf of the Board,&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;Chris D Castle &lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;strong&gt;&lt;span&gt;Hanoi, 16 July 2010&lt;/span&gt;&lt;/strong&gt;&lt;span&gt; &lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
          </content>  </entry>
  <entry xml:base="http://widespread.co.nz/">
    <author>
      <name>WID</name>
    </author>
    <id>tag:widespread.co.nz,2010-07-12:23247</id>
    <published>2010-07-12T23:09:00Z</published>
    <updated>2010-07-13T00:10:18Z</updated>
    <category term="NZX Announcements"/>
    <link href="http://widespread.co.nz/2010/7/12/widespread-s-asian-minerals-announces-agm-results" rel="alternate" type="text/html"/>
    <title>Widespread's Asian Minerals announces AGM results </title>
<content type="html">
            &lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;New Zealand Exchange Limited &lt;br /&gt;P.O. Box 2959 &lt;br /&gt;Wellington&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;13 July 2010 &lt;br /&gt;&lt;br /&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;Dear Sir, &lt;br /&gt;&lt;br /&gt;&lt;strong&gt;Widespread&amp;rsquo;s Asian Minerals announces AGM results &lt;span&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/span&gt;&lt;/strong&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;Asian Mineral Resources (&amp;ldquo;ASN&amp;rdquo;) is one of Widespread&amp;rsquo;s largest investments. This 4.3% shareholding (presently held at independent valuation based on our share of net assets) represents 25.6% of Widespread&amp;rsquo;s total assets.&lt;span&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; &lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;ASN made the announcement below in Canada last night concerning the annual general meeting of shareholders held in Toronto on Friday 9 July.&lt;span&gt;&amp;nbsp; &lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;Our continuing board representation is good news but the removal of the Shareholder Rights Plan is not. In the absence of a Takeovers Code in Canada applicable to ASN the Plan provided certain protection to minority shareholders that has now been removed. &lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;For and on behalf of the Board,&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;Chris D Castle&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;Singapore &lt;span&gt;&amp;nbsp;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;h6&gt;&lt;span&gt;13 July 2010&lt;/span&gt;&lt;/h6&gt;
&lt;h6&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/h6&gt;
&lt;p class=&quot;Default&quot;&gt;&lt;strong&gt;&lt;span&gt;ASIAN MINERAL RESOURCES ANNOUNCES CHANGE IN BOARD OF DIRECTORS &lt;/span&gt;&lt;/strong&gt;&lt;span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;Default&quot;&gt;&lt;strong&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;Default&quot;&gt;&lt;strong&gt;&lt;span&gt;Toronto, Ontario &amp;ndash; July 12, 2010. &lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;Default&quot;&gt;&lt;strong&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;Default&quot;&gt;&lt;strong&gt;&lt;span&gt;Asian Mineral Resources Limited &lt;/span&gt;&lt;/strong&gt;&lt;span&gt;(&lt;strong&gt;the &amp;ldquo;Company&amp;rdquo;) (ASN-TSX Venture) &lt;/strong&gt;announced today that, following the July 9 Annual Shareholders Meeting the board of directors now consists of Mun Keong Choo, Chairman of the Board, Mark Arnesen, Christopher Castle, William Howell and Fook Hoy Lai. &lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;Default&quot;&gt;&lt;span&gt;Mr. Arnesen is a chartered accountant with over 20 years experience in the international resources industry, including employment with the Billiton/Gencor group as corporate Treasurer from 1996 to 1998. In 2000 he joined Ashanti Goldfields Company Limited as Managing Director &amp;ndash; Internal Treasury and held the position until 2004. From 2004 until 2006 he worked with Equinox Minerals Limited and put in place the Lumwana project financing. In November 2006 he joined Moto Goldmines Limited as the Financial Director and held the position until the company was taken over by Randgold Resources Limited in late 2009. &lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;Default&quot;&gt;&lt;span&gt;Fook Hoy Lai has broad and in depth knowledge of technical, operational, financial and commercial aspects of the metals industry. He was previously the Group Chief Operating Officer, Malaysia Smelting Corporation Berhad. Fook Hoy Lai graduated with BSc (Hons) in Metallurgy and the University Medal from the University of New South Wales in 1974, and subsequently a BSc (Econs) (Hons) degree majoring in Accounting and Finance from the University of London in 1980. He is a member of the Institute of Materials, Minerals and Mining, and a registered Chartered Engineer with the Engineering Council UK. He is also a member of the Institution of Engineers, Malaysia, and Professional Engineer, registered with the Board of Engineers, Malaysia. &lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;Default&quot;&gt;&lt;span&gt;Shareholders at the meeting voted in favour of continuing the Company&amp;rsquo;s Stock Option Plan and against continuation of the Company&amp;rsquo;s Shareholder Rights Plan which has now expired. &lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;Default&quot;&gt;&lt;span&gt;&amp;ldquo;Mark Arnesen and Fook Hoy Lai will bring significant experience to the board as we move forward with the Ban Phuc Project&amp;rdquo; commented the new Chairman of the Board, Mun Keong Choo. &amp;ldquo;I would also like to take this opportunity to thank my predecessor Jim Askew for his contribution to the Company during the past five years.&amp;rdquo; &lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;Default&quot;&gt;&lt;span&gt;&lt;strong&gt;&lt;span&gt;Company Profile: &lt;/span&gt;&lt;/strong&gt;&lt;span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;table&gt;
&lt;tbody&gt;
&lt;tr&gt;
&lt;td width=&quot;288&quot;&gt;
&lt;p class=&quot;Default&quot;&gt;&lt;span&gt;&lt;em&gt;&lt;span&gt;Asian Mineral Resources Limited has been active in Vietnam since 1993 and through its 90% owned Vietnam subsidiary Ban Phuc Nickel Mines LLC is developing the Ban Phuc sulphide deposit in Son La province 5 hours drive north-west of Hanoi. Construction of the project, which is targeting the production of 60,000tpa of concentrate containing nickel/copper/cobalt was suspended in October 2008 when metal prices were under pressure from the world financial crisis. With over 1,000m of u/g development and 80% of all plant equipment purchased, the project is approximately 65% complete and is currently under care &amp;amp; maintenance pending receipt of funding to complete construction. For further information, please refer to the company website at www.asianminres.com or contact: &lt;/span&gt;&lt;/em&gt;&lt;strong&gt;&lt;span&gt;Rob Guest, CEO &lt;/span&gt;&lt;/strong&gt;&lt;span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;Default&quot;&gt;&lt;span&gt;&lt;span&gt;#9 Nguyen Hong Street &lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;Default&quot;&gt;&lt;span&gt;&lt;span&gt;Ba Dinh District, Hanoi, Viet Nam &lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;Default&quot;&gt;&lt;span&gt;&lt;span&gt;T: +84 4 3773 7997 &lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;Default&quot;&gt;&lt;span&gt;&lt;span&gt;F: +84 4 3773 7996 &lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;Default&quot;&gt;&lt;span&gt;&lt;span&gt;Email: &lt;span&gt;rguest@banphucnickel.vn &lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;288&quot;&gt;
&lt;p class=&quot;Default&quot;&gt;&lt;span&gt;&lt;strong&gt;&lt;span&gt;Paula Kember, CFO &lt;/span&gt;&lt;/strong&gt;&lt;span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;Default&quot;&gt;&lt;span&gt;&lt;span&gt;120 Adelaide Street West, Suite 2500 &lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;Default&quot;&gt;&lt;span&gt;&lt;span&gt;Toronto, ON M5H 1T1 &lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;Default&quot;&gt;&lt;span&gt;&lt;span&gt;T: 416 360 3412 &lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;Default&quot;&gt;&lt;span&gt;&lt;span&gt;F: 416 367 1954 &lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;Default&quot;&gt;&lt;span&gt;&lt;span&gt;E: &lt;span&gt;info@asianminres.com &lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/tbody&gt;
&lt;/table&gt;
&lt;h6&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp; &lt;/span&gt;&lt;span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/h6&gt;
&lt;p&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
          </content>  </entry>
  <entry xml:base="http://widespread.co.nz/">
    <author>
      <name>WID</name>
    </author>
    <id>tag:widespread.co.nz,2010-07-08:23174</id>
    <published>2010-07-08T20:24:00Z</published>
    <updated>2010-07-08T21:26:07Z</updated>
    <category term="NZX Announcements"/>
    <link href="http://widespread.co.nz/2010/7/8/net-asset-backing-3" rel="alternate" type="text/html"/>
    <title>Net Asset Backing </title>
<content type="html">
            &lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;New Zealand Exchange Limited &lt;br /&gt;P.O. Box 2959 &lt;br /&gt;Wellington&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;9 July 2010&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;Dear Sir, &lt;br /&gt;&lt;br /&gt;&lt;strong&gt;Widespread Portfolios Net Asset Backing&lt;span&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp; &lt;/span&gt;&lt;/strong&gt;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;We wish to advise that the unaudited net asset backing per Widespread Portfolios share, as at 8 a.m. today, ranges from &lt;strong&gt;42.5 cents to 48.7 cents&lt;/strong&gt;.&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;The lower figure is based on &lt;strong&gt;the most recent sale price of AMR shares in Canada&lt;/strong&gt;, the higher one is based on &lt;strong&gt;our share of AMR&amp;rsquo;s net assets&lt;/strong&gt;. We consider the latter approach relevant as, despite recent dilution of our holding in percentage terms, we still hold a strategic stake and have both board representation in AMR and a continuing management influence. &lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;We don&amp;rsquo;t consider the most recent sale price in Canada to be an accurate indicator of AMR&amp;rsquo;s enterprise value as the stock is very thinly traded. The top 20 AMR shareholders are long-term holders who collectively hold 98.6% of the company and most of the remaining smaller shareholdings are registered in New Zealand and are therefore not easily traded in Canada&lt;span&gt;&amp;nbsp;&amp;nbsp; &lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;Portfolio Weighting&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;As can be seen from the table below the AMR shareholding is no longer our key asset. Our direct and indirect holdings in the Chatham Rise Rock Phosphate Project now hold that position.&lt;span&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; &lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;table&gt;
&lt;tbody&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;NET ASSET BACKING PER SHARE&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;h6&gt;&lt;span&gt;Per WID share&lt;/span&gt;&lt;/h6&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Per WID share&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Investment&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;AMR @ market&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;AMR at share of NTA&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;Chatham Rise Project (independent valuation)&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.249&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.249&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;Asian Minerals (AMR)&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.062&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.124&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;Widespread Energy (oil &amp;amp; gas assets)&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.040&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.040&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;King Solomon Mines&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.021&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.021&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;Other investments &amp;amp; cash&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.053&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;span&gt;0.053&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Total ($NZ per WID share)&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;0.425&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;0.487&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Current WID share price&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;0.125&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;0.125&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td width=&quot;49%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;Discount to Net Asset Backing &lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;20%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;70.6%&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td width=&quot;29%&quot;&gt;
&lt;p class=&quot;MsoNormal&quot;&gt;&lt;strong&gt;&lt;span&gt;74.3%&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/tbody&gt;
&lt;/table&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;Diluted Net Assets per share&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;Using the share of AMR&amp;rsquo;s net assets approach, the fully diluted NTA per WID share is &lt;strong&gt;94 &lt;/strong&gt;cents 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.&lt;span&gt;&amp;nbsp; &lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;Net asset data is also available on our website (&lt;/span&gt;&lt;a href=&quot;http://www.widespread.co.nz/&quot;&gt;&lt;span&gt;www.widespread.co.nz&lt;/span&gt;&lt;/a&gt;&lt;span&gt;) and is updated daily. For more information on the Chatham Rise project see &lt;/span&gt;&lt;a href=&quot;http://www.rockphosphate.co.nz/&quot;&gt;&lt;span&gt;www.rockphosphate.co.nz&lt;/span&gt;&lt;/a&gt;&lt;span&gt;. &lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;For and on behalf of the Board,&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;Chris D Castle &lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;strong&gt;&lt;span&gt;Onekaka, 9 July 2010&lt;/span&gt;&lt;/strong&gt;&lt;span&gt; &lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
          </content>  </entry>
  <entry xml:base="http://widespread.co.nz/">
    <author>
      <name>WID</name>
    </author>
    <id>tag:widespread.co.nz,2010-07-01:23021</id>
    <published>2010-07-01T22:02:00Z</published>
    <updated>2010-07-01T23:02:47Z</updated>
    <category term="NZX Announcements"/>
    <link href="http://widespread.co.nz/2010/7/1/net-asset-backing-2" rel="alternate" type="text/html"/>
    <title>Net Asset Backing  </title>
<content type="html">
            &lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;New Zealand Exchange Limited &lt;br /&gt;P.O. Box 2959 &lt;br /&gt;Wellington&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;2 July 2010&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;Dear Sir, &lt;br /&gt;&lt;br /&gt;&lt;strong&gt;Widespread Portfolios Net Asset Backing&lt;span&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp; &lt;/span&gt;&lt;/strong&gt;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;We wish to advise that the unaudited net asset backing per Widespread Portfolios share, as at 8 a.m. today, ranges from &lt;strong&gt;43.1 cents to 72.8 cents&lt;/strong&gt;, depending on the valuation methodology applied to our major asset, our 4.3% shareholding in Asian Mineral Resources (&amp;ldquo;AMR&amp;rdquo;).&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;table&gt;
&lt;tbody&gt;
&lt;tr&gt;
&lt;td&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;AMR valuation approach&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;AMR&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;Company&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;Valuation&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;(CAD million)&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;Value of&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;WID&amp;rsquo;s AMR&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;shareholding &lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;(NZD million)&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;WID&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;Net Assets&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;(NZD million)&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;WID Net&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;Assets&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;Per&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;share&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;Share of AMR net assets&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;49.852&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;2.943&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;11.495&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;48.9&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;May 2009 20 day VWAP per NZIFRS&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;34.527&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;2.059&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;10.612&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;45.2&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;AMR market price today&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;26.759&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;1.572&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;10.124&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;43.1&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;Malaysian Smelting project valuation &lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;145.000&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;8.559&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;17.112&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;72.8&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;/tr&gt;
&lt;/tbody&gt;
&lt;/table&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;Share of AMR net assets&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;This net assets calculation assumes our Asian Mineral Resource shareholding is valued at our share of AMR&amp;rsquo;s reported net assets, an approach consistent with our shareholding in AMR and continuing influence within the company including board representation. The most recently published Asian Minerals financial statements (the quarterly report to 31 March 2010) records net assets of CAD 49.852 million. &lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;March 2010 20-day volume weighted average price&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;Our recently published audited financial statements include the AMR shareholding at the twenty day volume-weighted-average-market price as at 31 March 2010.&lt;span&gt;&amp;nbsp;&amp;nbsp; &lt;/span&gt;We consider this price irrelevant as a) it assumes an efficient market exists for AMR shares and b) that the market value of small parcels of AMR shares is the same as that for large holdings. Neither assumption is correct in respect of our Asian Minerals shares&lt;span&gt;&amp;nbsp; &lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;AMR market price today &lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;The last price the AMR shares traded at in Canada. We also consider this price irrelevant for the reasons already stated. &lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;Malaysian Smelting Corporation project valuation &lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;Malaysian Smelting Corporation, a Malaysian listed mining conglomerate also represented on the AMR board, holds the largest shareholding. Its last annual report records that its Asian Minerals shareholding effectively values the company at CAD 145 million. This audited carrying value is based on an audited robust project valuation of the Ban Phuc Nickel Mine forecast cash flows. &lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;Our view&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;We prefer the bricks and mortar based net assets figure of CAD 49.852 million, partially because this would be the floor price if it were decided by Asian Minerals to sell the project together with the mining license, exploration programme data, and other intellectual property in the company. Approximately CAD 80 million has been invested in the project since 1989.&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;Your view&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;We have detailed the various valuation approaches that can be applied to our shareholding in AMR. Given the transparency of this information, our shareholders are now in a position where they can then decide for themselves what they consider to be the value of our shares. &lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;Diluted Net Assets per share&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;Using the share of AMR&amp;rsquo;s net assets approach, the fully diluted NTA per WID share is &lt;strong&gt;94 &lt;/strong&gt;cents 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.&lt;span&gt;&amp;nbsp; &lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;This NTA per share information is also available on our website (&lt;/span&gt;&lt;a href=&quot;http://www.widespread.co.nz/&quot;&gt;&lt;span&gt;www.widespread.co.nz&lt;/span&gt;&lt;/a&gt;&lt;span&gt;)&lt;span&gt;&amp;nbsp; &lt;/span&gt;and is updated daily. &lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;For and on behalf of the Board,&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;Chris D Castle &lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;Onekaka, 2 July 2010&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;strong&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p class=&quot;MsoBodyText3&quot;&gt;&lt;span&gt;&lt;span&gt;&lt;span&gt;&amp;nbsp;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;/p&gt;
          </content>  </entry>
</feed>
