Homeland Energy Group Ltd. - QwikReport

HOMELAND ENERGY GROUP LTD. : http://www.homelandenergygroup.com/ : QwikReport

Corporate

Homeland Energy Group Ltd. (TSX:HEG) is focused on coal production from existing South African mines, resource development in South Africa, energy exploration in southern Africa and strategic acquisitions of properties and projects that support continued growth of Homelands energy resources and reserves. Homeland's Kendal Coal Mine began production in July 2008 and will continue ramping up to full production of 1.8 million tonnes per year into early 2009. Homeland's Eloff Mining Project, with a resource estimate of 250 million tonnes (Measured and Indicated) and 210 million tonnes (Inferred) of coal is currently in the development stage with first production anticipated in 2011.

The Company complies fully with the Black Economic Empowerment requirements of the South African Minerals and Petroleum Resources Development Act through shareholdings by a number of companies owned by historically disadvantaged South Africans in each of the project companies.

Homeland Energy is a significant shareholder in Homeland Uranium Inc., a Canadian uranium exploration and development focused on projects in Niger and the United States.

Homeland Energy Group Ltd. is traded on the Toronto Stock Exchange under the symbol HEG following a reverse take-over by capital pool company, Chrysalis Capital Corporation IV in March 2008. A copy of Homelands Filing Statement (February 20, 2008), as well as technical reports and press releases, may be found on www.sedar.com.

Corporate History

Dec 2004	Company founded by Stephen Coates & Avrom Howard as Homeland Uranium Inc.
Mar 2005	Pan African Uranium (Niger) formed by Tom Griffis; raised seed capital of $106,000 for Homeland Uranium
Jun 2005	Investment of C$1.8M by RAB Capital; acquisition of uranium project in Colorado
Jan 2006	Homeland completed acquisition of Pan African Uranium for C$4,200,000 in stock
May 2006	Coal project acquisition in South Africa including Eloff, Vlakvarkfontein & Onbekend
Jun 2006	Completed acquisition of Kendal with licence under application
Oct 2006	Company re-domiciled to BVI, opened offices in UK, changed name to Homeland Energy Corp; first prospecting licenses granted in South Africa
Nov 2006	Agreement to spin out uranium assets to Homeland Uranium Inc. (HUI)
Jun 2007	Completed RTO agreement with Chrysalis Capital IV Corporation
Aug 2007	Construction of Kendal Mine plant begins
Dec 2007	Received mining permit for Northfield project, completing the acquisition of this property
Feb 2008	Acquired 15.6% of Altona Resources (AIM:ANR) in transaction valued at $C3.45M based on share price of $1.20; admitted for public trading on the TSX
Mar 2008	Granted Kendal Mining Licence
Mar 2008	Began trading on TSX - March 5, 2008
Apr 2008	GMR (India) acquires 5% of Homeland's South African subsidiary for US$15M
May 2008	GMR acquires additional 5% of SA for US$15M
Jun 2008	Kendal Mine produces first coal
Aug 2008	Announce intention to purchase Appolo Fuels & Diversified Energy in US for $105M
Oct 2008	Official Kendal Colliery Opening Ceremonies, South Africa
Nov 2008	Homeland reacquires 100% of South African subsidiary -- GMR's acquisition does not proceed
April 2009	Homeland appointments new CFO
May 2009	Homeland receives mining licence for Eloff Coal Project, South Africa
June 2009	GMR pledges support for the new Board of Directors
July 2009	Homeland announces changes to Board of Directors
September 2009	Homeland announces the resignation of Stephen Coates and Andrew Gottwald and the appointment of Jeff Lowe as interim CFO.

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This page was created on Sat Sep 4, 2010 at 6:22:18 PM Pacific Time.