Commercial Credit Report for Ferrowest Limited (Australia)

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Ferrowest Limited
PO Box 383
Phone: (08) 927-72600	Belmont, WAS 6984 Australia	Ticker: FWL

Business Summary

Ferrowest Limited is an Australia-based mineral exploration company. During the fiscal year ended June 30, 2009, the Company was engaged in conducting exploration and feasibility studies on its 100%-owned projects, the Yalgoo Iron Project and the Western Haematite Project. The Yalgoo Iron Project operates in the mid west region of Western Australia centered the Company�s Yogi iron ore deposit 14 kilometers east of Yalgoo. The Western Haematite Project is an early stage direct shipping haematite iron ore prospect also located on the Company�s Yogi tenement package.

(Source: ARS)

Financial Information

Financial Ratings:	Z'' Score FRISK Score
Latest Financial Statements and Analyses:	6/30/2009 Annual Financials Quarterly Financials
Current Fiscal Period:	4Q 2009
Fiscal Year End:	December
Last Audit:	6/30/2009
Auditors:	HLB Mann Judd , Perth
Audit Opinion:	Unqualified

Industries

Type

Code

Description

Sector

BASICM

Basic Materials

Industry

METALS

Metal Mining

SIC

1011

Iron Ores

NAICS

21221

Iron Ore Mining

Management

Title

Name

Age

Title Date

Start Date

Non-Executive Chairman of the Board, Independent Director

Robert H. Duffin

1/1/2006

Chief Financial Officer, Company Secretary

Daniel J. Bredenkamp

11/28/2006

Managing Director, Executive Director

Brett L. Manning

4/10/2005

3 additional Management records available in full report.

General Information

Number of Employees:	5	(As of 6/30/2007)
Outstanding Shares:	69,451,716	(As of 6/30/2009)
Shareholders:	1,011	(As of 6/30/2009)
Stock Exchange:	ASX
Fax Number:	(08) 927-72655