Rule 2.7, 3.10.3, 3.10.4, 3.10.5
Appendix 3B
New issue announcement,
application for quotation of additional securities
and agreement
Information or documents not available now must be given to ASX as soon as available.

Information and
documents given to ASX become ASX"s property and may be made public.
Introduced 1/7/96.

Origin: Appendix 5.

Amended 1/7/98, 1/9/99, 1/7/2000, 30/9/2001, 11/3/2002, 1/1/2003, 24/10/2005.
Name of entity
FERROWEST LIMITED
ABN
14 074 009 091
We (the entity) give ASX the following information.
Part 1 - All issues
You must complete the relevant sections (attach sheets if there is not enough space).
1 +Class of +securities issued or to be
issued
Ordinary Shares Fully Paid
2 Number of +securities issued or to
be issued (if known) or maximum
number which may be issued
2,333,333 ordinary fully paid shares
3 Principal terms of the +securities
(eg, if options, exercise price and
expiry date; if partly paid
+securities, the amount outstanding
and due dates for payment; if
+convertible securities, the
conversion price and dates for
conversion)
Equal with existing fully paid shares
+ See chapter 19 for defined terms.
Appendix 3B Page 2 1/1/2003
4 Do the +securities rank equally in all
respects from the date of allotment
with an existing +class of quoted
+securities?
If the additional securities do not
rank equally, please state:
• the date from which they do
• the extent to which they
participate for the next dividend,
(in the case of a trust,
distribution) or interest payment
• the extent to which they do not
rank equally, other than in
relation to the next dividend,
distribution or interest payment
Yes - Ordinary fully paid shares
5 Issue price or consideration $230,000
6 Purpose of the issue
(If issued as consideration for the
acquisition of assets, clearly identify
those assets
To fund working capital expenditure
.
7 Dates of entering +securities into
uncertificated holdings or despatch
of certificates
12 February 2010
Number +Class
8 Number and +class of all
+securities quoted on ASX
(including the securities in clause
2 if applicable)
78,504,348
26,900,561
Ordinary Fully Paid Shares
Options exercisable at 25 cents
each on or before 1 June 2010
Number +Class
9 Number and +class of all
+securities not quoted on ASX
(including the securities in clause
2 if applicable)
3,325,000
84,000
84,000
36,000
36,000
22,500
22,500
26,000
19,500
19,500
12,000
12,000
51,000
38,250
38,250
Options with exercise price of $0.20 on or
before 1 January 2011
Employee Options
Exercise
Price
Vesting Date Expiry Date
$0.18 21/08/08 21/08/10
$0.18 21/08/09 21/08/11
Employee Options
Exercise
Price
Vesting Date Expiry Date
$0.185 08/11/08 08/11/10
$0.185 08/11/09 08/11/11
Employee Options
Exercise
Price
Vesting Date Expiry Date
$0.20 23/10/08 01/08/10
$0.20 23/10/09 01/08/11
Employee Options
Exercise
Price
Vesting Date Expiry Date
$0.565 19/11/08 19/11/10
$0.565 19/11/09 19/11/11
$0.565 19/11/10 19/11/12
Employee Options
Exercise
Price
Vesting Date Expiry Date
$0.205 23/10/08 23/10/10
$0.205 23/10/09 23/10/11
Employee Options
Exercise
Price
Vesting Date Expiry Date
$0.21 6/08/09 6/08/11
$0.21 6/08/10 6/08/12
$0.21 6/08/11 6/08/13
+ See chapter 19 for defined terms.
Appendix 3B Page 4 1/1/2003
1,250,000
1,250,000
1,250,000
1,875,000
1,875,000
Unlisted Incentive Options with
exercise price of $0.47 on or before 31
January 2011
Unlisted Incentive Options with
exercise price of $0.57 on or before 31
January 2011
Unlisted Incentive Options with
exercise price of $0.67 on or before 31
January 2011
Convertible Notes
Unlisted Options (30 June 2010); $0.60
10 Dividend policy (in the case of a
trust, distribution policy) on the
increased capital (interests)
Not applicable
Part 2 - Bonus issue or pro rata issue
11 Is security holder approval
required?
12 Is the issue renounceable or nonrenounceable?
13 Ratio in which the +securities will
be offered
14 +Class of +securities to which the
offer relates
15 +Record date to determine
entitlements
16 Will holdings on different
registers (or subregisters) be
aggregated for calculating
entitlements?
17 Policy for deciding entitlements in
relation to fractions
18 Names of countries in which the
entity has +security holders who
will not be sent new issue
documents
Note: Security holders must be told how their
entitlements are to be dealt with.
Cross reference: rule 7.7.
19 Closing date for receipt of
acceptances or renunciations
20 Names of any underwriters
21 Amount of any underwriting fee
or commission
22 Names of any brokers to the issue
23 Fee or commission payable to the
broker to the issue
24 Amount of any handling fee
payable to brokers who lodge
acceptances or renunciations on
behalf of +security holders
25 If the issue is contingent on
+security holders" approval, the
date of the meeting
26 Date entitlement and acceptance
form and prospectus or Product
Disclosure Statement will be sent
to persons entitled
27 If the entity has issued options,
and the terms entitle option
holders to participate on exercise,
the date on which notices will be
sent to option holders
28 Date rights trading will begin (if
applicable)
29 Date rights trading will end (if
applicable)
30 How do +security holders sell
their entitlements in full through a
broker?
31 How do +security holders sell part
of their entitlements through a
broker and accept for the balance?
+ See chapter 19 for defined terms.
Appendix 3B Page 6 1/1/2003
32 How do +security holders dispose
of their entitlements (except by sale
through a broker)?
33 +Despatch date
Part 3 - Quotation of securities
You need only complete this section if you are applying for quotation of securities
34 Type of securities
(tick one)
(a) ⌧ Securities described in Part 1
(b) All other securities
Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive
share securities when restriction ends, securities issued on expiry or conversion of convertible securities
Entities that have ticked box 34(a)
Additional securities forming a new class of securities
Tick to indicate you are providing the information or
documents
35 If the +securities are +equity securities, the names of the 20 largest holders of the additional
+securities, and the number and percentage of additional +securities held by those holders
36 If the +securities are +equity securities, a distribution schedule of the additional +securities
setting out the number of holders in the categories
1 - 1,000
1,001 - 5,000
5,001 - 10,000
10,001 - 100,000
100,001 and over
37 A copy of any trust deed for the additional +securities
Entities that have ticked box 34(b)
38 Number of securities for which
+quotation is sought
39 Class of +securities for which
quotation is sought
40 Do the +securities rank equally in all
respects from the date of allotment
with an existing +class of quoted
+securities?
If the additional securities do not
rank equally, please state:
• the date from which they do
• the extent to which they
participate for the next dividend,
(in the case of a trust,
distribution) or interest payment
• the extent to which they do not
rank equally, other than in
relation to the next dividend,
distribution or interest payment
41 Reason for request for quotation
now
Example: In the case of restricted securities, end of
restriction period
(if issued upon conversion of
another security, clearly identify that
other security)
Number +Class
42 Number and +class of all +securities
quoted on ASX (including the
securities in clause 38)
+ See chapter 19 for defined terms.
Appendix 3B Page 8 1/1/2003
Quotation agreement
1 +Quotation of our additional +securities is in ASX"s absolute discretion.

ASX may
quote the +securities on any conditions it decides.
2 We warrant the following to ASX.
• The issue of the +securities to be quoted complies with the law and is not for an
illegal purpose.
• There is no reason why those +securities should not be granted +quotation.
• An offer of the +securities for sale within 12 months after their issue will not
require disclosure under section 707(3) or section 1012C(6) of the Corporations
Act.
Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be able to give this
warranty
• Section 724 or section 1016E of the Corporations Act does not apply to any
applications received by us in relation to any +securities to be quoted and that
no-one has any right to return any +securities to be quoted under sections 737,
738 or 1016F of the Corporations Act at the time that we request that the
+securities be quoted.
• If we are a trust, we warrant that no person has the right to return the +securities
to be quoted under section 1019B of the Corporations Act at the time that we
request that the +securities be quoted.
3 We will indemnify ASX to the fullest extent permitted by law in respect of any claim,
action or expense arising from or connected with any breach of the warranties in this
agreement.
4 We give ASX the information and documents required by this form.

If any information
or document not available now, will give it to ASX before +quotation of the +securities
begins.

We acknowledge that ASX is relying on the information and documents.

We
warrant that they are (will be) true and complete.
Sign here: .................

Date: .....12/2/10.......
(Director)
Print name: ..Brett Manning..
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