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SAL/SALD - Sallies Limited - Voluntary production update Sallies Limited (Incorporated in the Republic of South Africa) (Registration number 1903/001879/06) Share code: SAL ISIN: ZAE000022588 JSE Code: SALD ISIN: ZAE000117305 ("Sallies" or "the Company") VOLUNTARY PRODUCTION UPDATE Operational Highlights for Sallies for the three months ended 30 September 2011 ("Q 1") * Q1 produced tonnes 27,301 * Q1 shipped tonnes 34,723 * Average price of Q1 shipped tonnes* US$387.90 * Product inventory as at 30 September 2011 11,548 * Average plant recovery 86% * Note: average prices of shipped tonnage are typically negotiated and settled between three to nine months in advance of shipment and reflect weighted average prices. Improved Plant Efficiency During Q1, management of Sallies focused on improving plant efficiency and mine development at Witkop. Plant recoveries on average of 86% were achieved, significantly above historical performance, reflecting the continued efforts of management to improve the operation of the plant since the Witkop Mine restart in March 2011. Several additional plant improvements will be made during the annual maintenance and shutdown period over the December holiday period. The focus at Witkop on mine development will continue through to Q3, including the removal of overburden to two new pits and ore infill drilling to facilitate mine planning. Production rates are anticipated to steadily increase to nameplate capacity during the fiscal year as the new pits are brought on stream. Johannesburg 19 October 2011 Sponsor: Bridge Capital Advisors (Pty) Limited Date: 19/10/2011 11:52:02 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.
