Waterberg Platinum Group Metals (PGM) Project, Limpopo

Producing an estimated 744 000oz of platinum, palladium, rhodium and gold a year, the Waterberg project in Limpopo will be one of the large PGM mine complexes in South Africa. The PFS envisages a low-cost, mutli-decline, fully mechanized mining complex along an initial 13km deposit strike, with two 300 000 t/m mills to be built in close sequence. Access to the mining complex is planned through three decline ramp clusters. Decline ramps can be built over 24 to 36 months, whereas vertical shafts, shaft infrastructure and equipping can take up to seven years. Mining will be completed using fully mechanized methods and the thickness of the zones will drive the mining method selection. Estimated capital to full production is about $1.06 billion, including $167 million in contingencies. GPS coordinates lat: -23.3859576; long: 28.8888589.