Barberton Mines, South Africa

Barberton first produced gold in 1886, after the discovery of the first gold nugget by Edwin Bray.

The mining complex consists of three mines: Fairview, Consort and Sheba. At present Barberton produces approximately 100,000oz of gold per annum, at an average cash cost of approximately US$45/oz, this cash cost is substantially lower than the industry standard of US$XX/oz (Source: BJM).

Barberton Mines is the birthplace of BIOX® (‘Biological Oxidation’), an environmentally friendly process of releasing the gold from the sulphide that surrounds, using organisms that perform this process naturally. Barberton is still used as the training facility for all BIOX® plants globally.

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Phoenix Platinum, South Africa

• Option exercised to acquire 100% of Phoenix:
..effective May 2009

• Phoenix owns rights to contained PGM's in
..historical and future chrome tailings

• Total cash consideration of £5.2 million
..(estimated, in-house NPV of £27.6 million)

• Estimated required capex to production: £6
..million

For more information please CLICK HERE

Manica Gold Project, Mozambique

The Manica licence area is situated in central Mozambique approximately 4km north of the town of Manica, which lies approximately 270km inland of the port city of Beira.

The licence area is centred on latitude 18°53’ degrees south and longitude 32°54’ east and lies close to the Mozambican border with Zimbabwe. The Zimbabwean town of Mutare is about 5km from the Mozambican-Zimbabwean border.

Manica is on the so-called “Beira Corridor”, a major road and rail route linking Zimbabwe with the Mozambican port of Beira on the Indian Ocean. The exploration project area is easily accessible by dirt road from Manica. Manica is served by sealed roads from Beira and from Harare in Zimbabwe. Scheduled air services link the nearby town of Chimoio with large regional centres such as Maputo, Harare and Beira.

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Cyril Ramaphosa
Non-Executive Chairman

Keith Cousens Spencer
BSc Eng (Mining)
Non-Executive Deputy Chairman
Member: Technical Committee

Jan Nelson
BSc. (Hons)
Chief Executive Officer
Member: Technical Committee

Cobus Loots
Finance Director

Rob Still
B.Com (Hons), CTA
Non Executive
Member: Remuneration Committee & Audit Committee

Rowan Smith
Non-Executive Director

Phuti Malabie
Non-Executive Director