Orchid Capital

Company Statement

Orchid Capital is an Australian investment company listed on the Australian and German Stock Exchanges. The cornerstone of Orchid Capital's investments is its 100%-owned subsidiary, Orchid Resources. Orchid Resources is focused on the exploration and development of resource opportunities in the People's Republic of China (PRC), where recent revisions to foreign investment policies have made the region very attractive.

Led by former Newmont Australia and Ashton Mining CEO, Dr. David Tyrwhitt, Orchid Resources recently became the world's first foreign company to receive approval for a mining Cooperative Joint Venture in Tibet. The Joint Venture with the China Tibet Institute of Geological Survey (CTIGS) has allowed Orchid exclusive access to a range of new exploration acreage and geological data.

Current Operations

Orchid Resources' initial focus has been on the Nagarze Gold Project, where extensive surface gold soil anomalies have been discovered. Nagarze is situated 100 km southwest of Lhasa in Tibet, along the Gangdise Shan Range, thought to be part of a belt of mineralisation that has hosted world-class mineral deposits including Lihir in PNG, Grasberg and Batu Hijau in Indonesia.

Exploration test work at the Nagarze Project has revealed values of 3-5 grams per tonne (g/t) of gold during initial sampling of Prospect Area 1, with a high grade of 21.9 g/t gold being revealed in Prospect Area 2. Orchid will begin a 5,000 m drilling program at Jin Ga Bo in the first quarter of 2005. Geological mapping and geophysical-geochemical surveys will continue during the 2005 field season.

In February 2005, Orchid signed a Letter of Intent with the CTIGS to acquire up to 80% of the giant Qu Long copper porphyry and Jia Ma copper deposit in Tibet. The Qu Long Project is located 60 km east of Lhasa and hosts a large porphyry copper deposit containing 5 million tonnes of copper metal, 350,000 tonnes of molybdenum and 3,200 tonnes (100 million ounces) of silver. Orchid expects to sign an agreement in July 2005. The copper equivalent content of the more than 1 billion tonnes of ore at Qu Long is 0.7%.

The Jia Ma copper skarn deposit is located 6 km north of Qu Long and has been extensively drilled over a 4 km strike length. Jia Ma is estimated to contain a Measured Resource of 500,000 tonnes of copper, 550,000 tonnes of lead, 60,000 tonnes of zinc, 14 tonnes (450,000 oz) of gold and 770 tonnes (23 million ounces) of silver.

Orchid is currently listed on the Australian and German Stock Exchanges. Orchid recently submitted an application for a listing of its shares on the Alternative Investment Market (AIM) of the London Stock Exchange. Listing on AIM, one of the world's major equity markets, will provide Orchid with access to a significant international pool of investors and facilitate the development of Orchid's world-class resources projects in Tibet.

Geographical Spread



Board of Directors and Key Management

Dr. David Tyrwhitt (Executive Chairman)
Alvin Tan (Managing Director)
Clive McKee (Executive Director)
Norman Grafton (Finance Director/Company Secretary)
Dr. David Tyrwhitt (Exploration Director, Orchid Resources)
Julian Sandt (Non-Executive Director)
Evan McGregor (Non-Executive Director, Orchid Resources)

Company Address

Suite 3, 610 Murray Street
West Perth
Western Australia 6005

Tel: +61 8 9321 3664
Fax: +61 8 9322 6887
e-mail: info@orchidcapital.net 
Websites: www.orchidcapital.net 
www.orchidresources.net 

Latest Broker's report

Strachan Corporate Research report:
http://www.orchidcapital.net/articles/Orchid%20Capital%20Strachan%20Corporate%20final%20May%2005.pdf

Capital

174,221,519 Fully paid shares
99,594,715 warrants expiring 30 November 2006

(as at May 2005)

Most Recent Statement

13/12/05 - Orchid's investee, Xinling International signs exclusive distribution agreement
26/10/05 - Orchid Capital has entered into an Investment Agreement 
20/09/05 - Appointment of Chief Executive Officer
09/09/05 - Appointment of Chairman
31/08/05 - Orchid Capital Update
15/08/05 - Clarification of 2 August Announcement
02/08/05 - Orchid Resources Update
14/07/05 - Net Tangible Asset Backing for June 2005
29/06/05 - Orchid Capital Lists on London's AIM
29/06/05 - Change of Registered Office
22/06/05 - Appendix 3B - Exercise of Options
21/06/05 - Dr. David Tyrwhitt to Join Orchid Resources Board as Executive Chairman
21/06/05 - Ceasing To Be A Substantial Shareholder
14/06/05 - Net Tangible Asset Backing for May 2005
08/06/05 - Appendix 3B - Exercise of Options
08/06/05 - Orchid in Tibet
12/05/05 - Appendix 3B - Exercise of Options
12/05/05 - Net Tangible Asset Backing for April 2005
06/05/05 - Appendix 3B - Exercise of Options
06/05/05 - Orchid Capital Appoints AIM Advisers
06/05/05 - Substantial Shareholder Notification
04/05/05 - Changes to Orchid Management Structure
15/04/05 - Net Tangible Asset Backing for March 2005
24/03/05 - Independent Legal Opinion Regarding Tibet Resources Projects
03/03/05 - Ausenco to Conduct Technical Audit at Qu Long and Jia Ma
28/02/05 - Appendix 4D & Financial Report For The Half Year Ended 31 December 2004
24/02/05 - Investor Presentation (2.5mb pdf)
04/02/05 - Orchid Signs Letter of Intent to Acquire Tibetan Copper Porphyry Projects
14/01/05 - Net Tangible Asset Backing for December 2004
21/12/04 - Geological Update
15/12/04 - Approval for Tibet's First Mining Cooperative Joint Venture
25/11/04 - Results of 2004 Annual General Meeting

Visit
www.orchidcapital.net , www.orchidresources.net  for further information about this story and other recent press releases.

On December 13, 2005, Orchid Capital announced that its investee, Xingling International Pte Ltd., has signed an exclusive agreement with Topsun Pharmaceuticals & Chemical Trading Company Ltd. (Topsun), one of China's largest pharmaceutical groups, to distribute a wide range of its products globally outside of Greater China. Orchid Capital has completed its 51% purchase of Xing Ling, and will actively in its growth and expansion strategy. The Topsun group is the 5th largest non-state-owned pharmaceutical group in China, has 13 factories and more than 100 branches all over China, with 8,000 employees.

On October 26, 2005, Orchid Capital announced that it has entered into an Investment Agreement with the Singapore-based pharmaceutical group, Xingling International Pte Ltd. Orchid will invest S$250,000 (circa £ 84,500 or A$197,000) to acquire a majority stake (51%) in the company, subject to due diligence and shareholder approval. Xingling has an exclusive distribution agreement with Topsun Pharmaceuticals & Chemicals Trading Company Ltd., one of China's largest pharmaceutical groups, to distribute its entire product portfolio in Singapore.

On September 20, 2005, Orchid Capital announced that Mr. Julian Sandt, who was previously a non-executive director, has, with effect from September 20, 2005, been appointed Chief Executive Officer of Orchid Capital, replacing Mr. Alvin Tan. Mr. Sandt, will be based in Singapore, where the Company will actively seek out investment opportunities in the pharmaceutical and renewable energy sectors.



On September 09, 2005, the Board of Orchid Capital Limited announced the appointment of Mr. Clive McKee as Executive Chairman of Orchid Capital, effective 9 September 2005. The Board also announced that Dr. David Tyrwhitt has resigned as Executive Chairman to pursue his other corporate interests. In view of Dr. Tyrwhitt's resignation, the Company will no longer pursue any further interest in the Tibet projects.



On August 15, 2005, Orchid Capital Limited referred to its announcement dated 2 August 2005, where it stated that "Due to the fact that there is a competing bidder for the Qu Long Project, hard copies of the 60-page Ausenco Report may be made available to shareholders on their written request and after signing a Non-Disclosure Agreement."

The Company has since received advice that it is not permitted to selectively disclose the Report, even under a Non-Disclosure Agreement, and is required to disclose the Report to the market through the ASX Announcements Platform before it provides a copy of it to anyone else.

On August 02, 2005, Orchid Capital Limited provided the following activities update on wholly owned subsidiary, Orchid Resources Limited.

Qu Long Copper Project

Intense negotiations between Orchid Resources Limited and the Tibet Autonomous Region Government have continued, but to date have not led to the expected signing of a final contract to acquire up to 80% of the Qu Long and Jia Ma Copper Projects in Tibet.

Ausenco Report

Orchid Resources has received the Technical Due Diligence Report from independent Australian mining consulting group Ausenco Limited, on its projects in the Tibet Autonomous Region.

The Report comprises a due diligence review of the geological, mining, process, operational and environmental aspects of the Qu Long and Jia Ma copper assets.

The Report concludes that infrastructure around the project areas are good and are continually improving.


Orchid in Tibet (June 2005 Update)

· Orchid Capital official launched the Tibet Pioneer Mining Company (TPMC), the world's first foreign mining Cooperative Joint Venture in Tibet. The launch of TPMC, a joint venture between Orchid subsidiary Orchid Resources (70%) and the China Tibet Institute of Geology Survey (30%), will be held on 15 June 2005 at the Tibet Hotel Lhasa. The creation and launch of TPMC recognizes Orchid Resources as the 'partner of choice' in Tibet, a position that allows Orchid access to a range of highly prospective areas.

· TPMC has joined the Investment Association of China (IAC) - an organization established to provide guidance to investors making investments in China's booming economy.

· As part of its development program in Tibet, Orchid has put together a strong local team to help progress its projects.

· Orchid Capital has been accepted as part of the Australian Trade Commission (Austrade) New Exporter Development Program.

· In March 2005, Orchid appointed independent Australian mining consulting group Ausenco Limited to conduct a full technical evaluation of the Qu Long and Jia Ma Copper Projects in Tibet. The final audit report is expected shortly and will be released to the market after Orchid receives it from Ausenco.

· Orchid Capital is in the process of listing its shares on the Alternative Investment Market (AIM) of the London Stock Exchange.

· As a result of its increased focus in Tibet, the ORC Board has promoted Mr. Alvin Tan to Managing Director and appointed Mr. Evan McGregor as a non-executive Director of Orchid Resources.

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