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VUN - Vunani Limited - Black Wattle Colliery finalises deal on high quality contiguous reserve VUNANI LIMITED (Incorporated in the Republic of South Africa) (Registration number 1997/020641/06) JSE code: VUN ISIN: ZAE000110359 Black Wattle Colliery finalises deal on high quality contiguous reserve Vunani Limited ("Vunani") wishes to draw shareholders` attention to the following announcement by Bisichi Mining PLC on the London Stock Exchange RNS this morning. Vunani, through its subsidiary Vunani Capital (Proprietary Limited) owns a 37.5% stake in Black Wattle Colliery. "Bisichi Mining PLC ("Bisichi"), the mining company with direct coal mining operations in South Africa, is pleased to announce that its principal South African subsidiary, Black Wattle Colliery ("Black Wattle"), has concluded an agreement with Blue Nightingale Trading 817 (Pty) Ltd ("Blue Nightingale"), to purchase Run of Mine coal from an open cast reserve of coal contiguous to Black Wattle`s existing open cast mine. The reserve consists of approximately three million metric tonnes of high quality low phosphorous run of mine coal with an average opencast stripping ratio of 2.8 to 1. The agreement with Blue Nightingale, a black owned and managed mining company, includes the implementation of a skills transfer programme. This transaction was concluded immediately after Blue Nightingale had acquired from the Department of Mineral Resources the relevant mining approvals for a large portion of the reserve. Opening of the opencast pit is to commence immediately with first Run of Mine coal expected to be received by Black Wattle in December 2010. Andrew Heller, Managing Director of Bisichi, said: `We are very pleased to be involved with Blue Nightingale in the development of this reserve, which is a significant addition to our own existing opencast operations. The conclusion of this agreement will have a significant impact on Black Wattle`s development and life of mine. The high quality low phosphorous coal which will be mined from the new reserve can be sold either into the domestic metallurgical markets at a premium price or the export market and we look forward to taking advantage of this as production from the reserve increases in 2011.`" For further information, please call: Enquiries: Vunani Ethan Dube, CEO 011 263 9500 College Hill 011 447 3030 Nick Williams 082 600 2192 Morne Reinders 082 815 1844 Bisichi Mining PLC Andrew Heller +44(0)207415 5030 Sandton 3 November 2010 Independent Designated Adviser Grindrod Bank Limited Joint Designated Adviser Vunani Corporate Finance Date: 03/11/2010 14:59:01 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.
