Zedex Limited

Registered Office Address
Level 3  
36 Kitchener Street  
Auckland  

Directors
SETON, David
SETON, Paul Frederick
KENNEDY, Henry David
JOBSON, P.J.


Background
Incorporated: 23-FEB-1999

Zedex (formerly Iddison) was formed to acquire the mining assets of IT Capital, the primary  
focus is gold exploration in the Phuoc Son gold, silver and base metal project. Zedex holds  
an interest in the voint venture company, New Vietnam Mining Corporation (NVM), which owns   
exploration licences under which the mineral tenure is held.


Major Shareholders
Widespread Portfolios - 7.4%

Shares on Issue

Minimum Holding
Unknown

Share Registry
Computershare Registry Services Ltd


Major Assets
New Vietnam Mining Corporation - 10.18%
Olympus Pacific Minerals - 24.71%


Website


News

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24.01.02 - NZUM

Zedex issued 2,497,500 ordinary shares on the 16th January 2002.                             

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Thursday, 8 March 2001, Press Release: Zedex Limited
Zedex Ups Drilling On Further Positive Results

Auckland � March 8 2001 � Zedex Limited has resumed drilling at the planned production rate  
of 800 metres per month. Further positive results from its ongoing drilling program at the   
Phuoc Son property in central Vietnam have been received from Genalysis Laboratory of Perth, 
Western Australia.

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Friday 17th March 2000 - NBR Personal Investor, by Nicholas Bryant
Patience pays off for leftover chicken investors

About 300 patient investors who sat tight with the remnant of failed total-supply-chain      
chicken venture Iddison Vietnam are being asked to dip back into Asia and look for gold.     

Zedex, formerly Iddison Holdings, the in-specie distribution arm of Iddison Vietnam - now hot
stock IT Capital - is going gold mining in Vietnam.                                          

And there is a fair chance those who have remained will be there with metaphorical pick and  
shovel after Zedex chairman Dave Seton showed them all into technology investor IT Capital.  

A year ago Iddison Vietnam, short of money, gave shareholders an October 2000 issue of 1c    
options with an exercise price of 17.5c.                                                     

IT Capital's share price was 7c and the options were essentially worthless. Today they're    
worth about 50c, having gone as high as 85c, and those who took a punt on IT Capital's       
ordinary shares have seen them go from 7c to about 70.                                       

Mr Seton is seeking to raise about $1.7 million by way of a non-renouncable rights issue of  
four new shares at 10c for every share held.                                                 

"The issue price has been kept low to encourage participation and ensure existing            
shareholders are rewarded for their loyalty," Mr Seton said.                                 

The proceeds of the issue, which has been fully underwritten by Paua, a company held by Mr   
Seton, his brother Paul and others, would enable further exploratory drilling to take place  
on an existing gold project. The money would also be used for Zedex to increase its          
shareholding in Canadian company Olympus Pacific Minerals.                                   

At IT Capital's birth those assets outside its business direction were distributed to Iddison
Vietnam shareholders. That included shares in Olympus and a direct interest in the mine.     

A fully subscribed rights issue would to all intents and purposes allow Zedex to control the 
project.                                                                                     

The area Zedex wants to extend prospecting in has been producing gold for peasant artisans   
for many years, according to promoting broker Forsyth Barr.                                  

"We're talking reasonably considerable production on live targets so this is not pie in the  
sky," Forsyth Barr broker Duncan Priest said.                                                

Mr Seton said Zedex's other projects in Vietnam were being reconsidered, with a chance funds 
from the issue would assist reactivation if appropriate.                                     

As Iddison Vietnam the company attempted to become that country's version of Inghams Chicken,
contracting to growers and managing product to supermarkets. But Vietnam, where most chickens
arrive at market on the back of a bicycle, proved too tough a place to change quickly.       

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