This Financial Services Guide was updated on 24 November 2012 and issued by Kalkine Pty Ltd.

This Financial Services Guide (FSG) is designed to inform you of certain matters relating to our future relationship before we provide you with a financial service. It covers who we are, how we can be contacted, the financial services we are authorised to provide, how our staff are paid, details of any potential conflicts of interest and how you can make a complaint.

This information is set out in the questions and answers that follow.

Please keep this guide for future reference. Should you lose it, a copy is available from us on request or can be downloaded from our website at www.kalkineuk.ollco.com

If you do not understand anything in it, or require more information, please feel free to contact us (details below).

Who is Kalkine?

Kalkine Pty Ltd is a publisher of financial information via newsletters, emails, websites and reports
Kalkine publishes the following services:

• Kalkine Equities Report – subscription-only newsletter and e-letter
• Kalkine Mining Report – subscription-only newsletter and e-letter

Who will provide the financial services to me?

Kalkine Pty Ltd acts on its own behalf. Kalkine Pty Ltd is responsible for the financial services provided to you. Australian Financial Services License Number: 425 376

What kind of financial services is Kalkine authorised to provide and what kind of products do these services relate to?

Kalkine Pty Ltd is licensed by the Australian Securities and Investments Commission (ASIC) to carry on a financial services business to:

• Provide general financial product advice for the following classes of financial products;
• Securities
• Derivatives to retail and wholesale clients (our subscribers).

We advise on securities through our newsletters, e-letters, websites and reports.
We do not offer any services for you to buy or sell the securities or derivatives we recommend. A list of stockbrokers who are licensed to deal in securities is available from the Australian Securities Exchange (www.asx.com.au).

IMPORTANT: We provide general financial product advice only, not personal financial product advice. The advice published by Kalkine has been prepared without taking into account your objectives, financial situations or needs.
Before acting on our recommendations, you should consider their appropriateness to your specific investment objectives, financial situation and needs. If you are uncertain as to what your objectives and needs are, you should contact a financial adviser or stockbroker who is licensed to provide you with personal financial product advice.

How does Kalkine get paid?

Kalkine is a subscription-based service. A subscription fee is payable when you subscribe to one of our newsletters.

Kalkine Pty Ltd does not receive any other fees, commissions or benefits for the services it provides.

All employees and directors of Kalkine Pty Ltd receive a salary. They may also receive performance based bonuses. No employee is entitled to any other fees, commissions or benefits from Kalkine or any other person in relation to the financial services provided.

How does Kalkine manage potential conflicts of interest?

Kalkine Pty Ltd does not have any relationships or associations with any financial product providers that influence, or could reasonably be expected to influence us, in the provision of financial services that we are licensed to provide.

If you were referred to us by a third party or from that third party’s website and you subscribe to one of our paid services, we may pay the third party an amount for referring you to us. You can ask for particulars of such remuneration within a reasonable time after being provided this Financial Services Guide and before we provide any financial services to you.

Employees are prohibited from telling third parties the substance of recommendations before they are published, and are not allowed to instruct others to act on recommendations before they are published or during the blackout period.

Kalkine Pty Ltd, and its related bodies corporate, do not have any relationships or associations with any other financial product providers that influence, or could reasonably be expected to influence, us in the provision of financial services that we are licensed to provide.

We do not undertake commissioned research. All our research is undertaken on an objective basis.
Our staff are required to comply with a staff trading policy, details of which are available on our websites. Staff holdings in listed securities and managed investment schemes are disclosed on the website (access available to subscribers only), and in every print edition.
Kalkine Pty Ltd does not pay commissions to financial advisers.