ASX Announcement

17 December 2014

UPDATE ON RECEIVERSHIP
The Receivers and Managers provide the following update on the Company:
SHIPMENTS PLV 45 AND PLV 46
• Watpac Civil & Mining Pty Ltd (ACN 129 804 968) (Watpac) has commenced mining ore and loading shipments PLV 45 and PLV 46 for delivery to the General Nice Resources Group;
• the Company expects that PLV 45 will be loaded on 21 December 2014 and PLV 46 will be loaded on
1 January 2015; and
• GNR Hong Kong has agreed to pre-pay for PLV 44. The Receivers and Managers are in discussions with GNR Hong Kong regarding PLV 45 and PLV 46.
LONG TERM MINING PLAN FOR COCKATOO ISLAND
The Receivers and Managers are in the process of formulating a long-term mining and operations plan for the mine on Cockatoo Island. The Company will provide a further update once this plan has been finalised. Watpac, Coffey Environments and AMC Consultants are actively engaged in this process.
CONCLUSION OF WISE PROCEEDINGS
The Wise proceedings in the Supreme Court of Western Australia have concluded and it is expected that the judgment in relation to these proceedings will be handed down before 25 December 2014. The Company will provide a further update once this judgment has been handed down.
RESIGNATION OF SAL CATALANO AS A NON-EXECUTIVE DIRECTOR
As was announced to the market on 12 December 2014, Sal Catalano has resigned as a Non-Executive
Director of the Company, effective from 12 December 2014.
SILVER FIR - PURSUING FOR RECOVERY OF PAYMENT FOR SHIPMENT PLV 42
The Company is continuing to pursue Silver Fir to recover the unpaid purchase price and consequential damages from Silver Fir, arising out of the failure of Silver Fir to pay the Company the purchase price for shipment PLV 42.

If you have any queries about this announcement please contact Jane Ayers of KordaMentha on
(08) 9220 9309. Yours faithfully
John Bumbak, Receiver and Manager
Pluton Resources Limited (Receivers and Managers appointed)

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