Bridge Street Capital Partners Report

By downloading this report, you acknowledge receipt of our Financial Services Guide, available on our web page www.bridgestreetcapital.com.au.

Bridge Street Capital Partners Pty Ltd is licensed to provide financial services in Australia; CAR AFSL 456663; Level 14, 234 George Street, Sydney NSW 2000

Bridge Street Capital Partners Pty Ltd is providing the financial service to you.

General Advice Warning

Please note that any advice given by Bridge Street Capital Partners Pty Ltd or its authorised representatives (BCP) is GENERAL advice, as the information or advice given does not take into account your particular objectives, financial situation or needs. You should, before acting on the advice, consider the appropriateness of the advice, having regard to your objectives, financial situation and needs. If our advice relates to the acquisition, or possible acquisition, of a particular financial product you should read any relevant Prospectus, PDS or like instrument.

Disclaimers

BCP does not warrant the accuracy of any information it sources from others. BCP provides this report as an opinion held at a point in time about an investment or sector. BCP has no obligation to update the opinion unless you are a client of BCP. Assessment of risk can be subjective. Historical information may not translate into future performance. Portfolios of investments need to be well diversified and the risk appropriate for the investor. BCP does not stand behind the capital value or performance of any investment. To the fullest extent permitted by the law, BCP disclaim any liability for any loss or damage arising from the use of, or the reliance on, any information within the report whether or not caused by any negligent act or omission of BCP. Overseas investors acknowledge that BCP has not solicited their business and that they have accessed this report while searching for information on Australian companies.

BCP and its directors, officers and employees may have or had interests in the financial products referred to in this report and may make purchases or sales in those financial products as principal or agent at any time and may affect transactions which may not be consistent with the opinions, conclusions or recommendations set out in this report. BCP and its Associates may earn brokerage, fees or other benefits from financial products referred to in this report. Furthermore, BCP may have or have had a relationship with or may provide or has provided investment banking, capital markets and/or other financial services to the relevant issuer or holder of those financial products.

Disclosures

Dr Chris Baker, an authorised representative of BCP, certifies that the advice in this report reflects his honest view of the company. He has 29 years investment experience in wholesale capital markets. He worked as a mining analyst for brokers BZW and UBS for 11 years and has a further 16 years’ experience as a mining analyst and portfolio manager with Colonial First State and Caledonia Investments. He now provides independent financial advice on a part time basis. He may own securities in companies he recommends but will declare this when providing advice. He currently does not own shares in COB. He has earned fees from COB for the provision of analytical services. He is also remunerated from corporate finance fees by BCP.