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Disposal of the Schoongezicht Prospecting Right
SENTULA MINING LIMITED
Incorporated in the Republic of South Africa
(Registration number: 1992/001973/06)
Share code: SNU ISIN: ZAE000107223
(“Sentula”)
Disposal of the Schoongezicht Prospecting Right
The board of directors (“the Board”) of Sentula is pleased to advise shareholders that Sentula has entered
into a sale of prospecting right agreement with Miniandante Proprietary Limited (“the Purchaser”) to dispose
of the Schoongezicht Prospecting Right and the Prospecting Right Documents described below, to the
Purchaser for a total consideration of R22,000,000 (twenty two million Rand), to be settled by the Purchaser
in cash, subject to the fulfilment or waiver, as the case may be, of certain conditions precedent (“Disposal of
the Schoongezicht Prospecting Right”).
The Schoongezicht Prospecting Right, being the prospecting right with the Department of Mineral Resources
reference number MP30/5/1/1/2/4306/PR, will entitle the Purchaser to prospect and search for coal in, on
and under the Prospecting Area, being Mineral Area 1 and 2 on portion 7 and the remaining extent of the
Farm Schoongezicht 225 IR. The Prospecting Right Documents include official legal and geological
documents relating to the Schoongezicht Prospecting Right and the Prospecting Area.
The rationale for the Disposal of the Schoongezicht Prospecting Right is in line with Sentula’s strategy of
monetising the investments in its coal assets.
The effective date of the Disposal of the Schoongezicht Prospecting Right is the 5th (fifth) business day after
the date on which the last of the conditions precedent is fulfilled or waived, as the case may be. The
conditions precedent include the granting by the Minister of Mineral Resources of:
- the application for the renewal of the Schoongezicht Prospecting Right, for a minimum of 2 (two) years
from the date of expiry of the initial term of the Schoongezicht Prospecting Right; and
- the transfer of the Schoongezicht Prospecting Right to the Purchaser.
Although the Disposal of the Schoongezicht Prospecting Right does not require any formal disclosure in
terms of the Listings Requirements of the JSE Limited, the Board would like to keep shareholders informed
of the ongoing activities of Sentula.
Johannesburg
24 June 2013
Sponsor
Merchantec Capital
Legal advisors
Edward Nathan Sonnenbergs
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