Hughes, in the matter of Croesus Mining NL (ACN 009 150 083) (Subject to Deed of Company Arrangement) [2007] FCA 498

FEDERAL COURT OF AUSTRALIA

Hughes, in the matter of Croesus Mining NL (ACN 009 150 083) (Subject to Deed of Company Arrangement) [2007] FCA 498

CORPORATIONS – application under s 447A of the Corporations Act 2001 (Cth) – variation to deed of company arrangement – extension of time for deed administrators to issue a report Corporations Act 2001 (Cth) s 447A Mulvaney v Rob Wintulich Pty Ltd (1995) 60 FCR 81 Re Pasminco Limited (No 2) (2004) 49 ACSR 470 IN THE MATTER of CROESUS MINING NL (ACN 009 150 083) (Subject to Deed of Company Arrangement) and IN THE MATTER of CENTRAL NORSEMAN GOLD CORPORATION LIMITED (ACN 005 482 860) (Subject to Deed of Company Arrangement) BRYAN KEVIN HUGHES and VINCENT ANTHONY SMITH WAD 319 OF 2006

SIOPIS J

1 FEBRUARY 2007

PERTH IN THE FEDERAL COURT OF AUSTRALIA

WESTERN AUSTRALIA DISTRICT REGISTRY WAD 319 OF 2006

IN THE MATTER of CROESUS MINING NL (acn 009 150 083) (Subject to Deed of Company Arrangement) and IN THE MATTER of CENTRAL NORSEMAN GOLD CORPORATION LIMITED (acn 005 482 860) (Subject to Deed of Company Arrangement) BRYAN KEVIN HUGHES and VINCENT ANTHONY SMITH as Deed Administrators of CROESUS MINING NL (Subject to Deed of Company Arrangement) andCENTRAL NORSEMAN GOLD CORPORATION LIMITED (Subject to Deed of Company Arrangement)

Plaintiffs

JUDGE: SIOPIS J

DATE OF ORDER: 1 FEBRUARY 2007

WHERE MADE: PERTH

THE COURT ORDERS THAT:

1. Clause 4.1.3 of the deed of company arrangement dated 15 September 2006 between Bryan Kevin Hughes, Vincent Anthony Smith and Central Norseman Gold Corporation Limited (ACN 005 482 860) (subject to deed of company arrangement) be varied by deleting the words "for a period of up to 60 days", and replacing those words with "to not later than 20 February 2007". 2. Clause 4.1.3 of the deed of company arrangement dated 15 September 2006 between Bryan Kevin Hughes, Vincent Anthony Smith and Croesus Mining NL (ACN 009 150 083) (subject to deed of company arrangement) be varied by deleting the words "for a period of up to 60 days", and replacing those words with "to not later than 20 February 2007". 3. The costs of the application be costs in the deed administration of each of the companies save in relation to costs of photocopying of the annexures to the Share Sale Agreement, being exhibit "VAS3" to the Affidavit of Vincent Anthony Smith sworn 31 January 2007, which costs are to be borne by the solicitors for the Plaintiffs. Note: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules. IN THE FEDERAL COURT OF AUSTRALIA