Wrap Text
Report for the Quarter ended 30 September 2014
Coal of Africa Limited
(Incorporated and registered in Australia)
Registration number ABN 008 905 388 ISIN AU000000CZA6 J
SE/ASX/AIM share code: CZA
('CoAL or the 'Company' or the 'Group’)
Appendix 5B
Mining exploration entity quarterly report
Rule 5.3
Appendix 5B
Mining exploration entity quarterly report
Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001, 01/06/10.
Name of entity
Coal of Africa Limited
ABN Quarter ended (“current quarter”)
98 008 905 388 30 September 2014
Consolidated statement of cash flows
Year to date
Cash flows related to operating activities Current quarter (3 months)
US$’000 US$’000
1.1 Receipts from product sales and related debtors
798 798
1.2 Payments for (a) exploration & evaluation (84) (84)
(b) development (806) (806)
(c) operations on care and maintenance (488) (488)
(d) logistics - -
(e) administration (2,637) (2,637)
1.3 Dividends received - -
1.4 Interest and other items of a similar nature received 151 151
1.5 Interest and other costs of finance paid (172) (172)
1.6 Income taxes paid - -
1.7 Other (provide details if material) - -
Net Operating Cash Flows (3,238) (3,238)
Cash flows related to investing activities
1.8 Payment for purchases of: (a) prospects - -
(b) equity investments - -
(c) other fixed assets - -
1.9 Proceeds from sale of: (a) prospects - -
(b) equity investments 171 171
(c) other fixed assets - -
1.10 Loans to other entities - -
1.11 Loans repaid by other entities - -
1.12 Other (provide details if material) 2,306 2,306
+ See chapter 19 for defined terms.
Net investing cash flows 2,477 2,477
1.13 Total operating and investing cash flows (carried forward) (761) (761)
Appendix 5B
Mining exploration entity quarterly report
1.13 Total operating and investing cash flows (brought
(761) (761)
forward)
Cash flows related to financing activities
1.14 Proceeds from issues of shares, options, etc. - -
1.15 Proceeds from pending issues of shares* - -
1.16 Proceeds from sale of forfeited shares - -
1.17 Proceeds from borrowings - -
1.18 Repayment of borrowings - -
1.19 Dividends paid - -
1.20 Other (provide details if material) - -
Net financing cash flows - -
Net increase (decrease) in cash held (761) (761)
1.21 Cash at beginning of quarter/year to date 2,099 2,099
1.22 Exchange rate adjustments 16 16
1.23 Cash at end of quarter 1,354 1,354
Payments to directors of the entity and associates of the directors
Payments to related entities of the entity and associates of the related entities
Current quarter
US$'000
1.23 Aggregate amount of payments to the parties included in item 1.2 123
1.24 Aggregate amount of loans to the parties included in item 1.10 -
1.25 Explanation necessary for an understanding of the transactions
Other cash flows related to investing activities (Item 1.12) represent the decrease in restricted cash due
to the restructuring of rehabilitation guarantees.
The balance in 1.23 includes all salaries and fees paid to directors.
Non-cash financing and investing activities
2.1 Details of financing and investing transactions which have had a material effect on consolidated assets
and liabilities but did not involve cash flows
2.2 Details of outlays made by other entities to establish or increase their share in projects in which the
reporting entity has an interest
Appendix 5B
Mining exploration entity quarterly report
Financing facilities available
Add notes as necessary for an understanding of the position.
Amount available Amount used
US$’000 US$’000
3.1 Loan facilities - -
3.2 Credit standby arrangements - -
Estimated cash outflows for next quarter
US$’000
4.1 Exploration and evaluation 400
4.2 Development 726
4.3 Production 167
4.4 Logistics -
4.5 Administration 2,526
Total 3,819*
* On 25 September 2014 CoAL shareholders approved a two stage equity placement to raise up to $64.9 million. Tranche
1 of GBP13.8million (approximately $23.4 million) is expected to be received in early November 2014 and cash outflows
for the December 2014 quarter will be covered from the proceeds of this placement as well as the sale of non-core
assets and the restructuring of rehabilitation guarantees.
Reconciliation of cash
Reconciliation of cash at the end of the quarter (as shown in Current quarter Previous quarter
the consolidated statement of cash flows) to the related items US$’000 US$’000
in the accounts is as follows.
5.1 Cash on hand and at bank 1,076 1,496
5.2 Deposits at call 278 603
5.3 Bank overdraft - -
5.4 Other (provide details) - -
Total: cash at end of quarter (item 1.22) 1,354 2,099
Appendix 5B
Mining exploration entity quarterly report
Changes in interests in mining tenements
Tenement reference Nature of interest Interest at Interest at
(note (2)) beginning of end of
quarter quarter
6.1 Interests in
mining tenements
relinquished,
reduced or lapsed
6.2 Interests in
mining tenements
acquired or
increased
Issued and quoted securities at end of current quarter
Description includes rate of interest and any redemption or conversion rights together with prices and dates.
Total number Number Issue price Amount
quoted per security paid up per
(see note 3) security
(cents) (see note 3)
(cents)
7.1 Preference +securities (description) Nil
7.2 Changes during quarter
7.3 +Ordinary securities 1,048,638,613 1,048,638,613
7.4 Changes during quarter
(a) Increases through issues
(b) Decreases through returns of Nil Nil
capital, buy-backs
7.5 +Convertible debt securities Nil
(description)
7.6 Changes during quarter
(a) Increases through issues
(b) Decreases through securities
matured, converted
7.7 Options (description and conversion 21,168,990 Nil Exercise Expiry date
factor) price See Note 6
See Note 6
7.8 Issued during quarter Nil Nil See Note 6 See Note 6
7.9 Exercised during quarter Nil Nil See Note 6 See Note 6
7.10 Cancelled during quarter Nil Nil
7.11 Debentures Nil
(totals only)
7.12 Unsecured notes (totals only) Nil
Appendix 5B
Mining exploration entity quarterly report
Compliance statement
1 This statement has been prepared under accounting policies which comply with accounting standards
as defined in the Corporations Act or other standards acceptable to ASX (see note 4).
2 This statement does give a true and fair view of the matters disclosed.
Sign here: ............................................................ Date: ...23 October 2014......................
(Company secretary)
TONY BEVAN
Print name: .........................................................
Notes
1 The quarterly report provides a basis for informing the market how the entity’s activities have been
financed for the past quarter and the effect on its cash position. An entity wanting to disclose
additional information is encouraged to do so, in a note or notes attached to this report.
2 The “Nature of interest” (items 6.1 and 6.2) includes options in respect of interests in mining tenements
acquired, exercised or lapsed during the reporting period. If the entity is involved in a joint venture
agreement and there are conditions precedent which will change its percentage interest in a mining
tenement, it should disclose the change of percentage interest and conditions precedent in the list
required for items 6.1 and 6.2.
3 Issued and quoted securities The issue price and amount paid up is not required in items 7.1 and
7.3 for fully paid securities.
4 The definitions in, and provisions of, AASB 1022: Accounting for Extractive Industries and AASB 1026:
Statement of Cash Flows apply to this report.
5 Accounting Standards ASX will accept, for example, the use of International Accounting Standards
for foreign entities. If the standards used do not address a topic, the Australian standard on that topic
(if any) must be complied with.
6 Issued and Quoted Options as at 30 September 2014:
Number Issued Number Exercise Expiry Date Lapsed Since End
Quoted Price of quarter
3,000,000 - A$2.74 30 November 2014 -
2,500,000 - A$1.20 9 November 2015 -
1* - GBP0.60 1 November 2014 -
1,441,061 - A$1.40 30 September 2015 -
2,670,000 - ZAR7.60 14 February 2017 -
3,500,000 - GBP0.25 30 November 2015 -
3,932,928 - ZAR1.75 30 June 2017 -
4,125,000 - ZAR2.00 30 June 2018 -
*1 Option to subscribe for 50 million ordinary shares for 60 pence each between 1 November 2010 and
1 November 2014 as approved by shareholders on 22 April 2010
== == == == ==
ANNOUNCEMENT 23 October 2014
REPORT FOR THE QUARTER ENDED 30 SEPTEMBER 2014
Coal of Africa moves forward
Coal of Africa Limited (“CoAL” or “the Company”) which operates in South Africa, together with its
subsidiaries, hereby provides its operational report for the quarter ended 30 September 2014. All figures are
denominated in United States dollars unless otherwise stated. A copy of this report is available on the
Company's website, www.coalofafrica.com.
Salient Features
• No lost-time injuries recorded during the quarter (FY2014 Q4: nil).
• Work continued on the applications to amend the Environmental Authorisation for the Vele Colliery to
include the plant modifications and the Company is confident that the record of decision from the
Department of Environmental Affairs will be received during the current quarter.
• Extensive work to amend and renew the Vele Colliery’s IWUL to include the plant modifications resulted in
the submission of the application during September 2014 and a decision is anticipated in H1 CY2015.
• Discussions with potential customers for the Vele Colliery coal continued and the Company expects to
convert these into formal off-take agreements in CY2015.
• Sedgman continued with the Front End Engineering and Design (“FEED”) process for the Vele Colliery
plant modification, expected to be completed during Q4 CY2014.
Corporate and Financial Features
• Shareholder approval for a two stage equity placement raising up to $64.9 million.
• Signature of an Sale and Purchase Agreement (“SPA”) for the disposal of the non-core Mooiplaats
Colliery subject to the purchaser’s confirmation of funding, expected to be finalised by the end of October
2014.
• Agreement reached with Grindrod Corridor Management Proprietary Limited and Terminal de Carvão da
Matola Limitada, settling current liabilities and covering all take or pay obligations until 31 December 2016
on the payment of $10 million, $6 million of which is payable on completion of the first stage of the equity
placement.
• Discussions continued with potential funders to facilitate a BEE acquisition of up to 26% in the Makhado
Project.
• Discussions on the outstanding $30 million payment to Rio Tinto liability continued during the quarter.
• Restructuring of rehabilitation guarantees resulted in the release of R27 million ($2.4 million) of restricted
cash.
• Available cash at period end of $1.3 million and restricted cash of $3.9 million.
Post period highlights
• Historic Biodiversity Offset Agreement for the Vele Colliery signed by the Company with the Department
of Environmental Affairs and South African National Parks.
• Replacement rehabilitation guarantees lodged by the buyer of the Woestalleen Complex resulting in the
release of approximately $1.7 million, expected to occur during October 2014.
Commenting today, Mr David Brown, Chief Executive Officer said: “Progress made during the September
2014 quarter reflects the culmination of several initiatives undertaken by management while shareholder
approval for the issue of additional equity records their continued support for the Company and its growth
strategy. The proposed disposal of the Mooiplaats Colliery ensures that CoAL is positioned to focus on the
development of its significant coking and thermal coal assets in the Limpopo Province. The Company
anticipates receiving the final approvals for the capital raise during late October or early November 2014 and if
not received in these timeframes, cash preservation measures will have to be implemented. In this scenario
the forecast expenditure set out in the 5B report also issued today would have to be reviewed and an update
provided. Proceeds from the capital raise and the income from the disposal of non-core assets will be used to
repay the Investec working capital facility in accordance with its terms, settle all outstanding liabilities over
time and advance the Company’s projects.
The remaining milestones in the Company’s turnaround strategy are the regulatory approvals for Makhado
and the funding of that project’s BEE partners. The Company will continue to progress the regulatory process
during the current quarter with a view that this will facilitate the granting of the NOMR for the project, the
Company’s flagship hard coking and thermal coal asset. These processes will hopefully be concluded by the
end of this calendar year permitting the commencement of funding initiatives for the project in Q1 CY2015.”
QUARTERLY COMMENTARY
Mooiplaats Colliery – Ermelo Coalfield (74% owned)
The Mooiplaats thermal coal colliery (“Mooiplaats Colliery”) was placed on care and maintenance during the
September 2013 quarter and recorded no lost time injuries (“LTIs”) during the period (FY2014 Q4: no LTIs).
During the quarter the Company signed a SPA with a wholly owned subsidiary of Blackspear Holdings
Proprietary Limited (“Blackspear”) for the disposal of the Mooiplaats Colliery for R250 million ($22.2 million).
Page | 2
On fulfilment of all conditions precedent, including the receipt of regulatory approvals consistent with a
transaction of this nature, the consideration will be settled in two tranches:
• Tranche 1 of R150 million ($13.3 million) expected to be received during Q1 CY2015; and
• Tranche 2 of R100 million ($8.9 million) is payable on the earlier of 12 months from the payment of the
first tranche or, 30 November 2015.
Blackspear is required to provide CoAL with evidence of funding on or before 31 October 2014 with
guarantees supplied by 31 December 2014 and will commence monthly payments of R2.3 million ($0.2
million) from November 2014. These monthly payments will increase to R4 million ($0.4 million) from February
2015 and will continue until the conditions required for the first payment tranche are satisfied.
Vele Colliery – Limpopo (Tuli) Coalfield (100% owned)
The Vele coking and thermal coal colliery (“Vele Colliery”) recorded no LTIs during the quarter (FY2014 Q4:
no LTIs).
Sedgman South Africa (“Sedgman”) continued with the FEED process for the plant modification project which
is expected to be completed during Q4 CY2014 and improvements to the existing plant will result in the
simultaneous production of semi-soft coking coal and export quality thermal coal.
The Company has finalised the applications required to amend the colliery’s Environmental Authorisation
(“EA”) to include the plant modifications and is confident that the record of decision from the Department of
Environmental Affairs (“DEA”) will be received during Q4 CY2014. Extensive work to amend and renew the
Vele’s Integrated Water Use Licence (“IWUL”) resulted in the submission of the application during September
2014 and the Company anticipates that approval will be received in H1 CY2015. The current Vele Colliery
IWUL is valid until March 2016 and the Company has delayed the commencement of the plant modification
construction to Q3 CY2015 pending the approval of the amended EA and the granting of the IWUL renewal.
Changes to the plant modification design have resulted in a shortened construction period which is expected
to be complete by the end of CY2015 and the production ramp-up phase concluded in early CY2016.
Discussions with potential customers for the Vele Colliery coal continued during the quarter and the Company
expects to convert these into formal off-take agreements during CY2015.
Makhado Coking Coal Project – Soutpansberg Coalfield (100% owned)
The Makhado coking coal project (“Makhado Project”) recorded no LTIs (FY2014 Q4: no LTIs) during the
quarter.
As required under South African mining legislation, a minimum 26% black economic empowerment (“BEE”)
shareholding is required for mining and exploration projects. CoAL previously signed a Memorandum of
Agreement to enable a Broad Based Black Economic Empowerment (“BBBEE”) consortium comprising seven
local communities to acquire a 20% interest in the Makhado Project and the Company is in the process of
identifying suitable BEE shareholders to acquire a further 6% of the project. These transactions will ensure
that the Makhado Project has the requisite corporate structure for the granting of the New Order Mining Right
(“NOMR”).
Greater Soutpansberg Project (MbeuYashu) (74% owned)
The MbeuYashu Project recorded no LTIs (FY2014 Q4: no LTIs) during the period.
During the quarter the Company completed the public participation programmes in relation to the
Environmental Impact Assessment phase for the Generaal, Chapudi and Mopane projects, all forming the
Greater Soutpansberg Project.
Authorised by
David Brown
Chief Executive Officer
23 October 2014
For more information contact:
David Brown Executive Chairman Coal of Africa +27 10 003 8000
Michael Meeser Chief Financial Officer Coal of Africa +27 10 003 8000
Celeste Harris Investor Relations Coal of Africa +27 10 003 8000
Tony Bevan Company Secretary Endeavour Corporate Services +61 08 9316 9100
Company advisors:
Jos Simson/Emily Fenton Financial PR (United Kingdom) Tavistock +44 20 7920 3150
Chris Sim/George Price/Jeremy Ellis Nominated Adviser Investec Bank plc +44 20 7597 5970
Charmane Russell/Jane Kamau Financial PR (South Africa) Russell & Associates +27 11 880 3924 or
+27 82 372 5816
Investec Bank Limited is the nominated JSE Sponsor
About CoAL:
CoAL is an AIM/ASX/JSE listed coal exploration, development and mining company operating in South Africa. CoAL’s key projects include the Vele
Colliery (coking and thermal coal), the Greater Soutpansberg Project /MbeuYashu, including CoAL’s Makhado Project (coking and thermal coal).
Tenements held by CoAL and its Controlled Entities
Change
Project Name Tenement Number Location Interest in quarter
Chapudi Albert 686 MS- Limpopo~ 74%
Project*
Bergwater 712 MS-- 74%
Remaining Extent and Portion 2 of Bergwater 697 MS-- 74%
Blackstone Edge 705 MS 74%
Remaining Extent & Portion 1 of Bluebell 480 MS- 74%
74%
Remaining Extent & Portion 1 of Bushy Rise 702 MS--
Castle Koppies 652 MS-- 74%
Chapudi 752 MS -- 74%
Remaining Extent, Portions 1, 3 & 4 of Coniston 699 MS-- 74%
Driehoek 631 MS-- 74%
Remaining Extent of Dorps-rivier 696 MS-- 74%
Enfield 512 MS (consolidation of Remaining Extent of 74%
Enfield 474 MS, Brosdoorn 682 MS & Remaining Extent of
Grootvlei 684 MS)--
Remaining Extent and Portion 1 of 74%
Grootboomen 476 MS- 74%
Grootvlei 684 MS-- 74%
Kalkbult 709 MS 74%
Remaining Extent, Remaining Extent of Portion 2, 74%
Remaining Extent of Portion 3, Portions 1, 4, 5, 6, 7 & 8 of
Kliprivier 692 MS-
Remaining Extent of Koodoobult 664 MS- 74%
Koschade 657 MS (Was Mapani Kop 656 MS)- 74%
Malapchani 659 MS- 74%
Mapani Ridge 660 MS- 74%
Melrose 469 MS- 74%
Middelfontein 683 MS- 74%
Mountain View 706 MS- 74%
M'tamba Vlei 654 MS 74%
Remaining Extent & Portion 1 of Pienaar 635 MS- 74%
Remaining Extent & Portion 1 of Prince's Hill 704 MS- 74%
Qualipan 655 MS- 74%
Queensdale 707 MS- 74%
Remaining Extent & Portion 1 of Ridge End 662 MS- 74%
Remaining Extent & Portion 1 of Rochdale 700 MS- 74%
Sandilands 708 MS- 74%
Portions 1 & 2 of Sandpan 687 MS-- 74%
Sandstone Edge 658 MS- 74%
Remaining Extent of Portions 2 & 3 of Sterkstroom 689 74%
MS--
Sutherland 693 MS- 74%
Remaining Extent & Portion 1 of Varkfontein 671 MS-- 74%
Remaining Extent, Portion 2, Remaining Extent of Portion 74%
1 of Vastval 477 MS-
Vleifontein 691 MS- 74%
Ptn 3, 4, 5 & 6 of Waterpoort 695 MS-- 74%
Change
Project Name Tenement Number Location Interest in quarter
Wildebeesthoek 661 MS- 74%
Woodlands 701 MS- 74%
Kanowna West M27/41 Coolgardie^ 23.68%
and
Kalbara M27/47 23.68%
M27/59 23.68%
M27/72,27/73 23.68%
M27/114 23.68%
M27/181 21.31%
M27/196 23.68%
M27/414,27/415 23.68%
P27/1826-1829 23.68%
P27/1830-1842 23.68%
P27/1887 23.68%
Abbotshall ML63/409,410 Norseman^ Royalty
Royalty
Kookynie ML40/061 Leonora^ Royalty
Royalty
ML40/135,136 Royalty
Holfontein Remaining extent, Remaining Extent of portions 1, 5 and Mpumalanga~ 100%
11 and portions 4, 6, 9, 10, 12 and 13 of the farm
Holfontein 138 IS
Makhado Fripp 645 MS Limpopo~ 100%
Project
Lukin 643 MS 100%
Remaining Extent and Portion 1 of Overwinning 713 MS 100%
Salaita 188 MT 100%
Tanga 648 MS 100%
Remaining Extent, Portion 1 and 100%
Portion 2 of the farm Windhoek 649 MS
Generaal Limpopo~ 74%
Beck 568 MS--
Project
Bekaf 650 MS- 74%
Remaining Extent & Portion 1 of Boas 642 MS- 74%
Chase 576 MS- 74%
Coen Britz 646 MS- 74%
Fanie 578 MS- 74%
Gray 189 MT 100%
Portions 1, 2 and Remaining Extent of Generaal 587 MS- 74%
Joffre 584 MS- 74%
Juliana 647 MS 74%
Kleinenberg 636 MS- 74%
Remaining Extent of Maseri Pan 520 MS- 74%
Remaining Extent and Portion 2 of Mount Stuart 153 MT-- 100%
Nakab 184 MT-- 100%
Phantom 640 MS-- 74%
Riet 182 MT-- 100%
Rissik 637 MS- 100%
Salaita 188 MS- 74%
Change
Project Name Tenement Number Location Interest in quarter
Schuitdrift 179 MT- 100%
Septimus 156 MT-- 100%
Solitude 111 MT- 74%
Stayt 183 MT-- 100%
Telema 190 MT 100%
Remaining Extent & Portion 1 of Terblanche 155 MT-- 100%
Van Deventer 641 MS- 74%
Wildgoose 577 MS- 74%
Mopane Limpopo~ 100%
Ancaster 501 MS--
Project*
Banff 502 MS- 74%
Bierman 599 MS- 74%
Cavan 508 MS 100%
Cohen 591 MS-- 100%
Remaining Extent, Portions 1 & 2 of Delft 499 MS- 74%
Dreyer 526 MS-- 74%
Remaining Extent of Du Toit 563 MS- 74%
Faure 562 MS 74%
Remaining Extent and Portion 1 of Goosen 530 MS -- 74%
Hermanus 533 MS- 74%
Jutland 536 MS-- 100%
Krige 495 MS- 74%
Mons 557 MS- 100%
Remaining Extent of Otto 560 MS (Now Honeymoon)- 74%
Remaining Extent & Portion 1 of Pretorius 531 MS- 74%
Schalk 542 MS- 74%
Stubbs 558 MS- 100%
Ursa Minor 551 MS-- 74%
Van Heerden 519 MS-- 74%
Portions 1, 3, 4, 5, 6, 7, 8, 9, Remaining Extent of Portion 74%
10, Portions 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24,
26, 27, 29, 30, 35, 36, 37, 38, 39, 40, 41, 44, 45, 46, 48,
49, 50, 51, 52 & 54 of Vera 815 MS
Remaining Extent of Verdun 535 MS- 74%
Voorburg 503 MS-- 100%
Mooiplaats Mpumalanga~ 74%
Colliery and Portions 1, 9,14,17,18,19,20 & Remaining Extent of
prospects Mooiplaats 290 IT
Portion 2, 3 and Remaining Extent of Klipbank 295 IT 74%
Portions 1, 2 and Remaining Extent of Adrianople296 IT 74%
Portions 2 & 3 of Willemsdal 330 IT 74%
Portions 2, 3, 4 & Remaining Extent) of De Emigratie 327 74%
IT
Remaining Extent and Portions 2, 5, 8,10 & 13 of 74%
Buhrmansvallei 297 IT
Klipfontein 442 IT 74%
Vele Colliery Portions of Overvlakte 125 MS (Remaining Extent, 3, 4, 5, Limpopo~ 100%
and prospect 6, 13, 14)
Bergen Op Zoom 124 MS 100%
Semple 155 MS 100%
Voorspoed 836 MS 100%
Alyth 837 MS 100%
Change
Project Name Tenement Number Location Interest in quarter
Lizzuela 62 MS 100%
Patracia 65 MS 100%
Hacyon 69 MS 100%
Tshikunda Certain portions of Unsurveyed State Land known as Limpopo~ 60%
Mutale
Coal bed Limpopo~ 50%
Adelaide 91 MT
methane
Adieu 118 MT 50%
Alicedale 138 MT 50%
Armstice 120 MT 50%
Bergwater 697 MS 50%
Bergwater 712 MS 50%
Blackstone Edge 705 MS 50%
Bushy Rise 702 MS 50%
Chapudi 752 MS 50%
Charlotte 90 MT 50%
Chase 576 MS 50%
Cross 117 MT 50%
Doppie 95 MT 50%
Ettie 33 MT 50%
Fanie 578 MS 50%
Feskraal 85 MT 50%
Folorodwe 79 MT 50%
Fripp 645 MS 50%
Gray 189 MT 50%
Hettey 93 MT 50%
Jeannette 77 MT 50%
Joffre 584 MS 50%
Kalkbult 709 MS 50%
Laura 115 MT 50%
Lukin 643 MS 50%
Magazasand 123 MT 50%
Malapchani 659 MS 50%
Mountainview 706 MS 50%
Mount Stuart 153 MT 50%
Nakab 184 MT 50%
Naus 178 MT 50%
Neltox 92 MT 50%
Phantom 640 MS 50%
Prince’s Hill 704 MS 50%
Queensdale 707 MS 50%
Riet 182 MT 50%
Rochdale 700 MS 50%
Rynie 158 MT 50%
Salaita 188 MT 50%
Schuitdrift 179 MT 50%
Septimus 156 MT 50%
Stayt 183 MT 50%
Suzette 32 MT 50%
Tanga 648 MS 50%
Telema 190 MT 50%
Change
Project Name Tenement Number Location Interest in quarter
Terblanche 155 MT 50%
Trevenna 119 MT 50%
The Duel 186 MT 50%
Truida 76 MT 50%
Van Deventer 641 MS 50%
Wendy 86 MT 50%
Wildgoose 577 MS 50%
Windhoek 649 MS 50%
Zisaan 31 MT 50%
Ziska 122 MT 50%
Portion of Unsurveyed state land 50%
* Form part of the Greater Soutpansberg Project
- Lapsed – Mining Right Application Lodged
-- Valid – Mining Right Application Lodged
~ Tenement located in the Republic of South Africa
^ Tenement located in Western Australia
Date: 23/10/2014 08:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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