Equatorial Resources Limited (Equatorial) is an Australia-based company. Equatorial is principally engaged in mineral exploration and associated development of its two 100% owned iron projects in the Republic of Congo. The Mayoko-Moussondji Iron Project (Mayoko-Moussondji) is located in the Department of Niari in the South West region of Republic of Congo and covers a total of 1000 square kilometers. As of June 30, 2012, a total of 25,832 metres of drilling had been completed at the project in 240 holes. The Company focuses on Makengui Prospect at its Mayoko-Moussondji project. On December 8, 2011, the Company acquired 100% ownership of two new Prospecting Authorisations for iron ore in the Republic of Congo. The Badondo Iron Project is located in the Department of Sangha in the north-west region of Republic of Congo and covers a total area of 998 square kilometers. During the year it acquired 19.9% interest in African Iron Limited.