Perilya (PEM)

Shares / Stock Code

PEM

Stock Exchange / Sharemarket

ax

Perilya (PEM) is a leading mining, exploration and investment company with a core focus on base metals. The Company is actively engaged in the development of its three principal projects comprising the Broken Hill in New South Wales, Mt Isa in Queensland and Flinders in South Australia together with undertaking the exploration activities in the surrounding tenements. PEM is a part of the ASX 200 index and it listed on the ASX on 23 July, 1987. Perilya is headquartered in Perth, Western Australia and it is primarily focused on the production of zinc, lead and silver at its Broken Hill Operation. PEM was also the operator of the Flinders Project. The Company completed the mining and crushing operations at Beltana in January 2008, producing around 316,400 tons of zinc silicate ore. PEM is organised into three business divisions. Its base metals mining segment is engaged in the mining and extraction of base metal ores especially zinc, lead and silver. The exploration segment focuses on the exploration and evaluation of base metal ore deposits. The investment and administration division focuses on the investment and administration of the corporate office. The Company sold its Honeymoon Well asset, to MPI Nickel Pty Ltd on November 12, 2007. It sold its Daisy Milano mine operation, and Mount Monger and Moyagee assets, to Silver Lake Resources Limited on November 14, 2007. Today Perilya has two operating mines and significant cash reserves, along with investments in other resource companies. The Company has several exploration projects in Australia and Malaysia.

Perilya History

Perilya was formed in 1987 and since its inception it has acquired a diversified portfolio of quality base metal operations and exploration projects. In 1994, it purchased the Fortnum gold mine in Western Australia, having around 55,000 ounces of ore reserves. Over the next six years, the mine produced approximately 540,000 ounces of gold, generating an operating surplus of over $70 million until its closure in August 2001. In May 2002 Perilya successfully completed the acquisition of the Broken Hill mine from Pasminco Limited. Broken Hill mine is considered to be the world’s largest mine having zinc, lead and silver deposits. Since 1885, the Broken Hill mine has produced in excess of 200 million tonnes of ore in its 127 years of mine life. In January 2005, Perilya completed the takeover of the Daisy Milano gold mine in southeast of Kalgoorlie. The Company suspended the extraction operations at Daisy Milano in March 2007 and put the gold mine into care and maintenance whilst it finalised the divestment of its gold assets and refocused its strategy on base metals. In August 2007, Perilya sold its gold assets which included the Daisy Milano mine, and the Mount Monger, Moyagee and Honeymoon Well exploration projects. In March 2007, the Company began mining operations at Beltana zinc mine which are now completed, with high quality zinc ore hoarded for shipment to smelters in Asia. The Company holds interests in several exploration projects across Australia and in the state of Sabah in Malaysia.