LIBERTY RESOURCES is committed to developing its large, low cost fertiliser Project in Queensland.

We use standard directional drilling to access deep coal, and we apply the latest environmental techniques to inject (saline) water and oxygen to produce low cost fertilisers.

Benefits from our Project will include reduction of surface salinity, lower cost of living for remote locations, skilled and professional jobs, low cost gas and electricity and exports – fertiliser and gas.

LIBERTY RESOURCES is headquartered in Subiaco, Western Australia.

Surat Basin

The Surat Basin is prospective for both shallow and deeper coal. The new data received during the year has highlighted new exploration targets for both shallow and deeper coal. A JORC 2compliant exploration target range was announced to the market on 28 August 2012 for EPC 1373 and EPC1818 (Fig 6) targeting potential shallow Walloon Coal Measures in the eastern area of the EPC‟s.

Figure: Surat Basin Shallow coal exploration target

LOCATION
Darling Downs Region in South-West Queensland

PROJECT SIZE
10,625 km2

STATUS
Exploration Programme Underway

GEOLOGY
The Jurassic age Surat Basin uncomfortably overlies the older Permian Bowen Basin. The main coal measures in the regions are the Walloon coal measures which have been confirmed to be over 400 metres thick and contain multiple lenticular seams up to 4 metres in individual thickness. These measures are considered highly volatile coals, which are suitable for power generation and feedstock for the production of liquid fuels.

Galilee Basin

The Galilee Basin is the last remaining major coal province yet to be developed in Queensland and holds significant reserves of coal potentially suitable for UCG. Liberty reported an inferred resource for the Rodney Creek project of 3,300 Million tonnes (Mt) of thermal coal (refer to ASX announcement dated 15 December 2008).

LOCATION
Central Queensland

PROJECT SIZE
2,854 km2

STATUS
Data Collation and Exploration

GEOLOGY
The Galilee Basin is connected to the Bowen Basin by the Springsure Shelf. It is a major sedimentary basin in turn overlain by the Eromanga Basin, and in places Tertiary basalts. Within the basin coal is known to exist in the Permian aged Bandana Formation and its correlatives, including the Betts Creek Beds. Seams can reach up to 10 metres thickness with coal quality as moderate ash low sulphur, low moisture sub bituminous to bituminous rank, thermal coal. Lower Permian coal may also exist in the Reid’s Dome beds (or equivalents), the same formations seen to host the thick economic seams of the Bowen Basin to the east. Opportunities also exist for more recent coal within the Moolayember (Triassic age) Formation, the upper Jurassic Westborne and Birkhead Formations as well as Cretaceous age coal of the Eromanga Basin in the Wallumbilla and Winton Formations.

Central Queensland

Liberty proposes to utilise the vast, deep coal resources in Queensland to develop a world-leading low cost urea fertiliser Project, subject to Government approvals.
The company focussed on EPC 1435 and EPC1737, both located in central Queensland. Two Mineral Development Licence Applications (MDLas), lodged in 2010 and 2012, are in application on EPC 1435. Work to date has focussed on the preferred plant location north of Injune, Central Queensland, near Permits EPC1435 and MDLa‟s 446 and 479.
The Project scope has incorporated preliminary costs associated with an ammonia and carbon dioxide gas pipeline to a urea plant located at the Port of Gladstone. Pipelining has some highly attractive logistical advantages over truck and rail. Liberty developed detailed implementation plans for the Project during the year and these are now being reviewed and refined. Independent experts were engaged to review and validate the Company‟s work to confirm its sound basis.
The nearby EPC1737 is being considered as a lower cost site and a shorter lead time alternative to commence Project operations.

Figure: Project Exploration Permits for Coal and Mineral Development License Application locations.

The Project integrates three major proven components:

    Coal gasification facilities
    Pipeline component
    Urea facilities

The Project implementation schedule targets full production by 2018, subject to Government approvals and other conditions being met.

Figure: EPC1435 and Mineral Development License

MDLa 479 has been lodged on EPC1435 to the south of the existing MDLa 446. The purpose of this Application was to secure an MDL site that is clear from overlying Petroleum Lease tenure. The new site is closer to infrastructure. The new MDLa and a resource upgrade JORC compliant 1resource statement was announced to the market on 22 August 2012 with a resource upgrade for Denison West Project within EPC1435 from 237Mt Inferred to 402Mt Inferred and 444Mt Indicated.

LOCATION
Central Queensland

PROJECT SIZE
MDLa: 235 km2

STATUS
Mineral Development License Applications Lodged

GEOLOGY
2.7 Billion tonnes of thermal coal has been identified at Westgrove and Merrivale deposits within the Denison Trough (refer to ASX announcement dated 21 September 2009). The Denison trough contains multiple coal seams over more than 2,000 metre vertical extent. This includes Jurassic coal within the Walloon coal measures near surface, Bandana from 400 metres below surface to closer to 1,000 metres below surface in the Reid’s Dome beds.

Canada

In January 2010 Liberty acquired the Gold Lake project in Saskatchewan, Canada, totalling 9, 400 hectares of land. The Gold Lake area surrounds a 6 meter coal intersection at a depth of 558 meters, a thickness amenable to UCG (Petroleum Well 06-26-65-20W3). The geological data, including well and seismic, covering the 13 coal dispositions held by Liberty has been acquired,m reviewed and evaluated for Underground Coal Gasification purposes.

The Permits are now being applied for renewal and a drill proposal being developed. The results from the neighboring Alberta In situ Gasification Project at Swan Hills Synfuels have been reviewed and analysed and are considered to be encouraging.

Swan Hills reported consistent and reliable Syngas production from a depth of 1400m on the Mannville Coal seam in Alberta. Liberty’s Project area is at a depth of less than 600m on what is believed to be the same Mannville Coal seam.

LOCATION
Gold Lake, Saskatchewan

PROJECT SIZE
9, 400 hectares

STATUS
Data Collation and Exploration

GEOLOGY
Much of the Province of Saskatchewan in underlain by Lower and Middle Cretaceous sedimentary rocks that form part of the large Mesozoic basin underlying the great plains of Canada and the USA. Other companies in the province have embarked upon coal projects with various development aspirations. These projects indicate a major northwest-trending depocentre of the Manville Group which contains thick coal seams at a stratigraphically low level which underlies Liberty’s concession holding.

South Australia

In April 2010 Liberty applied for two Petroleum Exploration Licenses (PEL’s) over the Renmark Basin in South Australia, one of which is granted. The Company is currently embarking on a detailed data review to guide an exploration drilling programme. The basin has been the focus of previous oil exploration, particularly in the Southern end, however no systematic exploration for coal has been undertaken presenting Liberty with an opportunity for a significant discovery.

LOCATION
Renmark Basin, Eastern South Australia

PROJECT SIZE
Approximately 10, 000 km2

STATUS
Data Collation and Exploration

GEOLOGY
The area of the license covers an underexplored sedimentary basin comprising of Permian sediments and overlying Jurassic to Tertiary age rocks. In total, three potential coal bearing targets are present within in application area; Eocene Lignites, within the upper basin sediments at depths of greater than 200 meters Cretaceous Pyap Member sediments, that are considered to be over 40 meters thick and have previously recorded thin coal intersections Basal Permian coals within the trough and to the northwest on the Canegrass Lobe

Andrew Haythorpe Managing Director

Mr Haythorpe is a Geologist by profession and has been associated with the Mining and Exploration sector for over 20 years. He gained experience in evaluating the technical and financial aspects of mining projects while working as a mining analyst for Suncorp, County Natwest and Hartley Poynton, and then as a Fund Manager with Bankers Trust.
Previously Mr Haythorpe has served as Managing Director of Michelago Resources and Crescent Gold and as non-executive Chairman of Aurox Resources.
He is currently the Managing Director of Liberty Resources Ltd.

James Becke Non Executive Director

Mr Becke has 35 years experience in all facets of the Australian capital markets including debt, equity and synthetic markets.
He was a founding director of Macquarie Bank Ltd, a founding director of Austraclear Ltd and a Director of Capital Markets, Dresdner International Financial Markets (Australia) Ltd.

Horst Hueniken Non-Executive Director

Located in Toronto, Canada, Mr. Hueniken brings with him 24 years of investment experience; as portfolio manager, buy-side analyst, and sell-side analyst.  Derived from his activist shareholder investing responsibilities, and his coverage of global-scale fertilizer, seeds & traits, and grain processing companies, he is knowledgeable about the global agriculture industry and its end markets, including the urea market.  Mr. Hueniken holds a Masters of Business Administration degree from the Richard Ivey School of Business in London, Canada, having graduated on its Dean’s List, and holds a Bachelor of Applied Science in Mechanical Engineering from the University of Waterloo, Canada.

Catherine Anderson Company Secretary

Catherine Anderson is a legal practitioner admitted in Western Australia and Victoria.  Catherine has over 20 years experience in both private practice and in house legal roles from working in Melbourne and Perth.Catherine has an extensive background as a legal practitioner with experience in capital raisings and corporate structure.  During her career, Catherine advised on all aspects of corporate and commercial law and today brings this extensive commercial experience to Liberty.Catherine also has experience in company secretarial roles for ASX listed resource companies, as well as having been a director of an ASX listed junior explorer.   She currently also provides consultancy services to entities wishing to proceed to IPO and listing on ASX, and has twice been nominated for the Telstra Business Woman of the Year Award for an online retail business she established in 2007.Catherine is a strategic part of the Liberty team and fulfils her role in all compliance, legal and commercial aspect of the company.

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