Elikhulu Tailings Project, Phase 3

Phase 3 is the re-establishment of the hydromining infrastructure to the Winkelhaak Tailings dump at the Evander Gold Mine in Mpumalanga. A definitive feasibility study completed on the Elikhulu tailings project has shown the project to have excellent recovered grades and gold production, attractive financial returns and low execution risk, with the DFS results surpassing expectations of previous technical and financial assessments. Phase 3 at the Winkelhaak Tailings Storage facility requires a capital of R113 million and will be funded from project-generated cash flows. GPS coordinates lat: -26.4890852; long: 290862361.