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Palmaris Capital Plc was originally incorporated in Scotland in 1988 as a mining investment company, however, following a capital re-structure in 2001 most of the investments have been realised with only one major investment remaining in Scottish Resources Group Ltd, previously Mining Scotland Ltd. A substantial shareholding in Perseverance Corporation Ltd, a gold mining company operating in Victoria, Australia was distributed to our shareholders as a dividend in specie in February 2007.

Pan American Silver Corp. was founded in 1994 with the intention to provide investors with the best vehicle to gain real exposure to higher silver prices. Today, after 13 years of consecutive production and financial growth, Pan American owns and operates seven silver mines in Peru, Mexico and Bolivia. The Company’s eighth mine, Manantial Espejo, in the southern Argentinean province of Santa Cruz commenced production in December 2008. Pan American has also finished construction of a 750 tpd processing facility at the San Vicente mine, in the silver-rich Bolivian province of Potosi. Pan American's mission is to be the largest and lowest cost primary silver mining company, and to achieve this by constantly increasing silver production and silver reserves. The Company’s growth strategy is based on the continued increase of low cost silver production through the efficient operation and expansion of its existing mines, an aggressive exploration program and the acquisition and development of new silver-rich deposits. The Company has an industry-leading team of professionals with a wealth of experience in operations, construction, exploration and financ

Patagonia Gold Plc is a precious metals exploration company with a focus in South America.Management is based in both Argentina (Buenos Aires) and London. The principle exploration office is in Esquel but regional exploration bases in Santa Cruz, San Juan and a new Field base near Perito Moreno are used for field operations. The Company, formerly named HPD Exploration Plc, was originally incorporated in 2000. It was a wholly owned subsidiary of Brancote Holdings Plc in order to hold exploration projects other than the Esquel Gold Project in Argentina.Brancote Holdings Plc proceeded to de-merge its subsidiary by way of an offer to shareholders and HPD traded on OFEX from January 2001, before changing its name to Patagonia Gold Plc and floating on AIM in March 2003.Brancote Holdings Plc was subsequently acquired by Meridian Gold Inc. in July 2002 for US$368 million.The stated core focus of Patagonia Gold Plc is the discovery of ore bodies able to host multi million ounce gold deposits in the principle area of operation: South America.Patagonia Gold Plc is focusing primarily on exploration in the Santa Cruz province of Argentina where it has a number of advanced exploration projects containing the potential for gold resources.The Company also holds advanced development properties in the Chubut province where exploration has currently been suspended for three years as a result of a government ban issued on July 2006.

Patriot Coal Corporation engages in the production and sale of thermal coal in the United States. It has operations and coal reserves in Appalachia and the Illinois basin. The company provides its thermal coal to electric utilities, as well as metallurgical coal to steel mills and independent coke producers. It has 14 company-operated mines, contractor-operated mines, and coal preparation facilities that are located in West Virginia and Kentucky. As of December 31, 2009, Patriot Coal Corporation company controlled approximately 1.8 billion tons of proven and probable coal reserves. Patriot Coal Corporation, through its subsidiary, Magnum Coal Company, operates 8 mining complexes with production from surface and underground mines located in Appalachia, as well as controls approximately 600 million tons of proven and probable coal reserves. Patriot Coal Corporation company is based in St. Louis, Missouri.

PBS Coals is a leading provider of metallurgical and steam coals from both surface and deep mines for the metals, energy and industrial sectors. Its proximity to east coast U.S. ports allows PBS Coals to quickly and cost effectively supply customers in North America, South America, Europe and Asia.PBS Coals was established in 1963 and developed over the years by NSM of England. It was formerly owned by Penfold Capital Acquisitions. The privately held company was purchased by Severstal Resources, a division of OAO Severstal.Annual breakdown of production: 55 percent coking coal and 45 percent steam coal. Two coal preparation plants fully operational with 1,100 raw tonnes per hour processing capability.

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