To view the PDF file, sign up for a MySharenet subscription.

ANGLOGOLD ASHANTI LIMITED - Boston Shaker underground mine to go ahead at Tropicana

Release Date: 29/03/2019 13:30
Code(s): ANG ANG013     PDF:  
Wrap Text
Boston Shaker underground mine to go ahead at Tropicana

AngloGold Ashanti Limited
(Incorporated in the Republic of South Africa)
Reg. No. 1944/017354/06
ISIN. ZAE000043485 – JSE share code: ANG
CUSIP: 035128206 – NYSE share code: AU
JSE Bond Company Code - BIANG
(“AngloGold Ashanti” or the “Company”)


29 March 2019

NEWS RELEASE

Boston Shaker underground mine to go ahead at Tropicana
(JOHANNESBURG – PRESS RELEASE)

AngloGold Ashanti Australia Ltd (70% and manager) and Independence Group NL (30%)
have approved development of the Boston Shaker Underground Project at the Tropicana
Gold Mine in Western Australia.

A Feasibility Study has confirmed that underground mining is technically and financially
viable, demonstrating robust economics with an anticipated IRR of 39% for a capital
investment of $79.3 million (100%). See Table 1 for breakdown.

Boston Shaker will contribute higher grade mill feed, resulting in an improved gold
production profile and enhanced cash flow. Importantly the underground mine will provide
improved cash flow during 2021-2023 when the mine plan includes periods of higher waste
stripping in the Havana open pit.

Ore from the underground mine will enable Tropicana gold production to be maintained at
between 450,000-500,000 ounces per annum (100%) over the next five years, lifting the
average to 480,000 oz. per annum over the five year period.
The project will commence in the June quarter 2019 and first gold is scheduled for the
September quarter in 2020.

“Underground mining at Boston Shaker will leverage further value from this high performing
operation, achieving pay-back in just over three years,” said Ludwig Eybers, AngloGold
Ashanti’s Chief Operating Officer International.

“An ongoing focus on Operational Excellence has enabled Tropicana to consistently exceed
expectations, and I am sure this world class performance will extend into the underground
operation.”

The expanded ore production from the mine will capitalise on investments made in the
Tropicana processing plant, which includes the second ball mill, commissioned in November
2018, increasing throughput capacity to 8.1 Mtpa.

The Boston Shaker ore body remains open at depth and the JV partners will continue to test
high grade extensions to the Mineral Resource beneath the Tropicana and Havana pits to
assess the opportunity for further underground mining operations (see Figure 1 in the
complete announcement available on the company website – www.anglogoldashanti.com).


Project Details
A maiden underground Ore Reserve has been declared at Tropicana, based on an Ore
Reserve gold price of $1,100/oz The Boston Shaker (100%) Ore Reserve is estimated at 2.8
million tonnes grading 3.84 g/t for 317,000 oz of contained gold – see Table 2.

The Boston Shaker underground Mineral Resource estimate is 12.5 Mt at 4.2 g/t for 1.7 Moz
– see Table 3.

The Feasibility Study was based on the mining of 6.58 million tonnes, grading 3.84 g/t,
assuming the systematic conversion of Mineral Resources to Ore Reserves over the life of
the mine.

The average underground mining rate will be approximately 1.1 Mtpa (including
development) over an eight year mine life to 2026 to produce a total of 732,000 oz. Mining
methods will comprise conventional mechanised mining and underhand sublevel open
stoping.

The proposed mining fleet comprises: two jumbos, two production drills, three remote-
capable loaders and four trucks.

An underground mining contract has been awarded to Macmahon Holdings Ltd
(Macmahon), the mining alliance partner at Tropicana since commencement of open pit
mining in 2012. As Macmahon will operate both the open pit and underground mines
significant operational and management synergies will be delivered.

The underground operation adds an additional year to Tropicana’s overall mine life, taking it
to 2029 based on the current Measured, Indicated and Inferred Mineral Resource of 136.2
Mt at 1.76 g/t for a contained 7.7 Moz.

Decline development is expected to commence in Q2 2019 with mining of the first stope
scheduled to begin in August 2020. The portal will be located in the completed Tropicana Pit,
to minimise interaction between the open pit fleet working in the Boston Shaker pit and
underground equipment (see Figure 2 in the complete announcement available on the
company website – www.anglogoldashanti.com).

Average underground mining costs, including geology, are anticipated to be between $55-
$60/tonne.

Metallurgical test work based on current processing plant conditions indicate a recovery rate
of 89.9% from the underground ore. Underground ore will be blended with open pit ore and
no changes are anticipated in the plant operating expenditure.

The capital cost (100%) is estimated at $79.3 million (A$105.7 million) – see Table 1 for
breakdown.

Table 1: Boston Shaker Underground Project Capital Cost.

                                                Total              2019             2020
               Description
                                              US$ million        US$ million      US$ million
                                              (100%, Nominal)   (100%, Nominal)   (100%, Nominal)
 Mining (ORD)                                      46.6                18.7            27.9
 Infrastructure and Indirects                      32.7                18.9            13.7
Total Capex                                        79.3                37.7            41.6

Table 2: Boston Shaker Underground Ore Reserve (100%) as at 31 December, 2018.

    Category        Mt      g/t   Moz
     Proved         -       -       -
    Probable        2.8    3.65   0.317
      Total         2.8    3.65   0.317

Table 3: Boston Shaker Underground Mineral Resource (100%) as at 31 December
2018.

                          Open Pit          Underground                 Total
 Classification     Mt      g/t  Moz      Mt    g/t Moz          Mt     g/t   Moz
   Measured         0.6    1.66   0.03     -    -     -          0.6    1.66  0.03
   Indicated        6.6    1.92   0.41     5.1 4.08 0.67        11.7    2.86  1.07
    Inferred        0.0    0.60   0.00     7.5 4.35 1.04         7.5    4.35  1.04
     Total          7.2    1.90   0.44    12.5 4.24 1.71        19.8    3.38  2.15

Table 4: Key Boston Shaker Underground Project Metrics
                                                     Unit           100%               70%
 Capital             Investment                       $A
                                                                    105.7               74
                                                    million
                                                     $US
                                                                       79.3             55
                                                    million
 Financial           IRR                              %              39
 Metrics             Payback period                 years            3.3
                     Gold price assumption          USD             1240
                                                    AUD             1654
 Production          Life of mine (underground)     years             8
 Metrics             Life of mine ore production      Mt            6.58
                     Life of mine underground
                                                      oz          732,000            512,400
                     gold production
                     Average annual
                     underground ore                Mtpa               1.1
                     production
                     Average underground gold
                                                      g/t              3.84
                     grade
                                        Average annual gold
                                        production from project
                                                                                                     oz                   105,000                          73,000
                                        area (Boston Shaker
                                        Underground

JORC Code Competent Persons Statements
The information that relates to the Tropicana Mineral Resources is based on, and fairly represents
information and supporting documentation compiled by Mr Damon Elder, a full-time employee and
security holder of AngloGold Ashanti Australia Limited, who is a member of The Australasian Institute
of Mining and Metallurgy. Mr Elder has sufficient experience relevant to the type and style of mineral
deposits under consideration, and to the activity which has been undertaken, to qualify as a
Competent Person as defined in the 2012 edition of the JORC Code. Mr Elder consented to the
inclusion in this report of the Tropicana Mineral Resource estimate, based on the information in the
form and context in which it appears.

The information that relates to the Tropicana Open Pit Ore Reserves is based on, and fairly
represents information and supporting documentation compiled by Mr Steven Hulme, a full-time
employee and security holder of AngloGold Ashanti Australia Limited, who is a member of The
Australasian Institute of Mining and Metallurgy. Mr Hulme has sufficient experience relevant to the
type and style of mineral deposit under consideration, and to the activity which has been undertaken,
to qualify as a Competent Person as defined in the 2012 edition of the JORC Code. Mr Hulme
consented to the inclusion in this report of the Tropicana Open Pit Ore Reserve estimate, based on
the information, in the form and context in which it appears.

The information that relates to the Tropicana Underground Ore Reserves is based on, and fairly
represents information and supporting documentation compiled by Mr Jeff Dang, a full-time employee
and security holder of AngloGold Ashanti Australia Limited, who is a member of The Australasian
Institute of Mining and Metallurgy. Mr Dang has sufficient experience relevant to the type and style of
mineral deposit under consideration, and to the activity which has been undertaken, to qualify as a
Competent Person as defined in the 2012 edition of the JORC Code. Mr Dang consented to the
inclusion in this report of the Tropicana Underground Ore Reserve estimate, based on the
information, in the form and context in which it appears.

Ends

Johannesburg
JSE Sponsor: The Standard Bank of South Africa Limited

CONTACTS
Media

Chris Nthite                                              +27 11 637 6388/+27 83 301 2481                               cnthite@anglogoldashanti.com

General inquiries                                                                                                        media@anglogoldashanti.com

Investors

Sabrina Brockman                                          +1 646 880 4526/ +1 646 379 2555                             sbrockman@anglogoldashanti.com

Fundisa Mgidi                                                +27 11 6376763 / +27 82 821 5322 fmgidi@anglogoldashanti.com

Certain statements contained in this document, other than statements of historical fact, including, without limitation, those concerning the economic outlook for the gold
mining industry, expectations regarding gold prices, production, total cash costs, all-in sustaining costs, all-in costs, cost savings and other operating results, productivity
improvements, growth prospects and outlook of AngloGold Ashanti’s operations, individually or in the aggregate, including the achievement of project milestones,
commencement and completion of commercial operations of certain of AngloGold Ashanti’s exploration and production projects and the completion of acquisitions,
dispositions or joint venture transactions, AngloGold Ashanti’s liquidity and capital resources and capital expenditures and the outcome and consequence of any potential
or pending litigation or regulatory proceedings or environmental health and safety issues, are forward-looking statements regarding AngloGold Ashanti’s operations,
economic performance and financial condition. These forward-looking statements or forecasts involve known and unknown risks, uncertainties and other factors that may
cause AngloGold Ashanti’s actual results, performance or achievements to differ materially from the anticipated results, performance or achievements expressed or
implied in these forward-looking statements. Although AngloGold Ashanti believes that the expectations reflected in such forward-looking statements are reasonable,
no assurance can be given that such expectations will prove to have been correct. Accordingly, results could differ materially from those set out in the forward-looking
statements as a result of, among other factors, changes in economic, social and political and market conditions, the success of business and operating initiatives,
changes in the regulatory environment and other government actions, including environmental approvals, fluctuations in gold prices and exchange rates, the outcome of
pending or future litigation proceedings, and business and operational risk management. For a discussion of such risk factors, refer to AngloGold Ashanti’s annual reports
on Form 20-F filed with the United States Securities and Exchange Commission. These factors are not necessarily all of the important factors that could cause AngloGold
Ashanti’s actual results to differ materially from those expressed in any forward-looking statements. Other unknown or unpredictable factors could also have material
adverse effects on future results. Consequently, readers are cautioned not to place undue reliance on forward-looking statements. AngloGold Ashanti undertakes no
obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to
reflect the occurrence of unanticipated events, except to the extent required by applicable law. All subsequent written or oral forward-looking statements attributable to
AngloGold Ashanti or any person acting on its behalf are qualified by the cautionary statements herein.

This communication may contain certain “Non-GAAP” financial measures. AngloGold Ashanti utilises certain Non-GAAP performance measures and ratios in managing
its business. Non-GAAP financial measures should be viewed in addition to, and not as an alternative for, the reported operating results or cash flow from operations or
any other measures of performance prepared in accordance with IFRS. In addition, the presentation of these measures may not be comparable to similarly titled
measures other companies may use.

Website: www.anglogoldashanti.com

ENDS

APPENDIX A

Section 1: Sampling Techniques and Data
Criteria                                 Commentary

Sampling techniques                         - AngloGold Ashanti Australia (AngloGold) has used drilling and subsampling of the cuttings or cores as
                                              the data basis for the Mineral Resource estimates of the Tropicana deposits. Details are given in the
                                              following subsection.
                                            - Drill hole spacings range from 25m×25m grids to 100m×100m grids, with most of the drilling of the
                                              Open Pit Mineral Resources on a 50m×50m spacing with 25m×25m testing the starter pits of the
                                              Tropicana and Havana initial pits, and the southern end of the Boston Shaker deposit.
                                            - A 100m×100m area of Havana was drilled out on a 10m×10m grid to validate the resource model and
                                              optimise the grade control sample spacing.
                                            - The Boston Shaker Underground Mineral Resource is drilled at 50 x 25m in the upper levels and out to
                                              100 x 100m at deeper levels.
                                            - The Underground Mineral Resource down-plunge extensions of Havana Deeps is tested using a
                                              100m×100m grid. Deep +800m deep step-out holes have been drilled on nominal ?200m×100m to test
                                              the high-grade mineralisation of Havana Deeps.
                                            - All holes are drilled plunging towards the west to intersect the east dipping mineralised zones


Drilling techniques                     -  Reverse circulation (RC) percussion drilling using face-sampling bits (5¼ inch or 133mm diameter) has
                                           been used to collect samples from the shallower (up-dip) part of the deposits with a nominal maximum
                                           RC depth of 150m.
                                         - Diamond core drilling has been used for deeper holes, with diamond tails drilled from RC pre-collars.
                                           To control the deviation of deep DD holes drilled since 2011, many of these holes were drilled from
                                           short ? 60m RC pre-collars or using 63.5mm (HQ) diameter core from surface.
                                         - Diamond core drilling for Mineral Resource definition is predominantly 47.6mm (NQ) diameter core,
                                           with a lesser number of holes drilled for collection of metallurgical and/or geotechnical data using
                                           63.5mm (HQ2, HQ3) ore 85mm (PQ) core diameters.
                                         - In fresh rock, cores are oriented wherever possible for collection of structural data. Prior to 2009, core
                                           orientations are made using the EzyMark tool with the Reflex Ace Tool replacing the system in later
                                           drilling programmes.


Drill sample recovery                    -    RC recovery:
                                               o    Prior to 2008 semi-quantitative assessment was made regarding RC sample recovery with
                                                    recovery visually estimated as 25%, 50%, 75% or 100% of the expected mass volume of a 1m
                                                    drilling interval.
                                               o    Since 2008, AngloGold has implemented quantitative measure on every 25th interval where the
                                                    masses of the sample splits are recorded and compared to the theoretical mass of the sampling
                                                    interval for the rock type being drilled.
                                               o    AngloGold found that overall recovery in the regolith was >80% and with total recovery in fresh
                                                    rock.
                                         -    DD Recovery:
                                               o    DD recovery has been measured as percentage of the total length of core recovered compared
                                                    to the drill interval.
                                               o    Core recovery is consistently high in fresh rock with minor losses occurring in heavily fractured
                                                    ground or for DD drilling in the regolith.
                                         -    The main methods to maximise recovery have been recovery monitoring as described above and
                                              diamond core drilling below ?150m depth.
                                         -    No relationships have been noted between sample recovery and grade and sample biases that may
                                              have occurred due to the preferential loss or gain of fine or course material are considered unlikely.
Section 1: Sampling Techniques and Data
Criteria                  Commentary

Logging                   -   RC cuttings and DD cores have been logged geologically and geotechnically with reference to
                              AngloGold’s logging standard library, to levels of detail that support Mineral Resource estimation,
                              Underground Ore Reserve estimation and metallurgical studies.
                          -   Qualitative logging includes codes for lithology, regolith, and mineralisation for both RC and DD, with
                              sample quality data recorded for RC such as moisture, recovery, and sub-sampling methods.
                          -   DD cores are photographed, qualitatively structurally logged with reference to orientation
                              measurements where available.
                          -   Geotechnical quantitative logging includes QSI, RQD, matrix and fracture characterisation.
                          -   The total lengths of all drill holes have been logged.

                          -   RC – Primary splitting
Sub-sampling techniques
and sample preparation         o   Prior to 2007 RC samples were collected from the cyclone stream using a tiered riffle splitter.
                                   From 2007 a static cone splitter was introduced and replaced riffles splitters on all rigs.
                               o   The RC sampling interval is generally 1m but from 2016, 2m intervals were introduced for RC
                                   pre-collars.
                               o   The splitters collected a ?12% split from the primary lot with two 12% splits collected – the first for
                                   laboratory submission and second as a reference or replicate. Most samples were collected dry
                                   with <2% of samples recorded as being split in moist or wet state.
                               o   The main protocol to ensure the RC samples were representative of the material being collected
                                   was monitoring of sample recovery and collection and assay of replicate samples.
                          -   DD – Primary sample
                               o   DD cores are collected of intervals determined by geological boundaries but generally targeting a
                                   1m length
                               o   All NQ cores have been half-core sampled with the core cut longitudinally with a wet diamond
                                   blade.
                               o   A few of the DD whole cores have been sampled from HQ3 cores drilled to twin RC holes in the
                                   regolith or for geotechnical or metallurgical testing.
                               o   In 2005, some 1,150m of cores drilled in the oxide zone were chisel split rather than wet cut but
                                   this poorer sub-sampling represents <0.01% of the core drilled.
                          -   Laboratory preparation
                               o   Sample preparation has taken place at three laboratories since commencement of Mineral
                                   Resource definition drilling including SGS Perth (pre- 2006), Genalysis Perth (2006 to April 2016)
                                   and SGS Tropicana onsite laboratory (2015 Boston Shaker samples and post-April 2016 – Dec,
                                   2017 samples), and SGS Perth from Jan, 2018 onwards.
                               o   RC samples are oven dried then pulped in a mixer mill to a PSD of 90% passing 75 microns
                                   before subsampling for fire assay.
                               o   SGS prepared DD half-core samples by jaw-crushing then pulverisation of the whole crushed lot
                                   to a particle size distribution (PSD) of 90% passing 75 microns. A 50g subsample of the pulp was
                                   then collected for fire assay.
                               o   Genalysis prepared the samples in a Boyd crusher rotary splitter combo with nominally 2.5kg
                                   half-core lots crushed to <3mm then rotary split to ? 1 kg before pulverisation and sub-sampling
                                   for fire assay.
                               o   At SGS Tropicana samples are processed in automated sample preparation system, where
                                   samples are crushed in a Boyd crusher to a PSD of 90% passing 2mm then subsampled using a
                                   linear sample divider to ~1kg. Samples with mass <800g are manually pulped in a LM2 mill to a
                                   PSD of 75 microns before sub-sampling for fire assay.
                               o   From May 2016, a jaw crusher has been used to crush half-core samples to a PSD of 100%
                                   passing 6mm allowing for diamond core processing at the SGS Tropicana lab.
                          -   Quality controls for sampling and assaying
                               o   SGS inserted blanks and standards at a 1:20 frequency in every batch with a duplicate pulp
                                   collected for assay every 20th sample. Further repeats were also completed at a 1:20 frequency
                                   in a random manner.
                               o   Sieve checks were completed on 5% of samples to monitor PSD compliance.
                               o   Genalysis inserted blanks and standards in every batch and a duplicate pulp was collected for
                                   assay on every 25th sample and 6% of each batch was randomly selected for replicate analysis.
                                   Sieve checks were completed on 5% of samples to monitor PSD compliance.
                               o   Tropicana laboratory used barren basalt and quartz to clean equipment between routine samples
                          -   Sample size versus grain size
                               o   No specific heterogeneity tests have been carried out but the sample sizes collected are
                                   consistent with industry standards for the style of mineralisation under consideration.
Section 1: Sampling Techniques and Data
Criteria                    Commentary
                                 o   A 2008 sampling variability study found that 72% of the gold in the samples tested was in size
                                     fraction <300 microns, and that repeated sampling of the same lot have very low variance
                                     between replicates.

Quality of assay data and   -   No geophysical tools were used to determine any element concentrations material to the Mineral
laboratory tests                Resource estimate.
                            - All Mineral Resource prepared pulps have undergone 50g fire assay which is considered a total assay
                              for gold.
                            - As discussed above all laboratories have used industry standard quality control procedures with
                              standards used to monitor accuracy, replicate assay to monitor precision, blanks to monitor potential
                              cross contamination and sieve tests to monitor PSD compliance.
                            - AngloGold has also used other ‘umpire’ laboratories to monitor accuracy including Genalysis Perth
                              (prior to November 2006), SGS (from November 2006 to August 2007) and ALS Perth (since August
                              2007), with these check assaying campaigns coinciding with each Mineral Resource update.
                            - AngloGold has reviewed the quality sample results on a batch by batch and monthly basis and has
                              found that the overall performance of the laboratories used for Mineral Resource estimation samples is
                              satisfactory.

Verification of sampling    -   Significant intersections of mineralisation are routinely verified by AngloGold senior geological staff and
and assaying                    have also been inspected by several independent auditors as describe further below.
                            -   Twin holes have been drilled to compare results from RC and DD drilling with the DD results
                                confirming that there is no material down-hole smearing of grades in the nearby RC drilling and
                                sampling.
                            -   All logging and sample data is captured digitally in the field using Field Marshall Software, prior to
                                upgrade to Micromine’s Geobank in 2016. Data is downloaded daily to the Tropicana Exploration
                                Database (Datashed) and checked for accuracy, completeness and structure by the field personnel.
                            -   Assay data is merged electronically from the laboratories into a central Datashed database, with
                                information verified spatially in Vulcan software. AngloGold maintains standard work procedures for all
                                data management steps.
                            -   An assay importing protocol has been set up to ensure quality samples are checked and accepted
                                before data can be loaded into the assay database
                            -   All electronic data is routinely backed up to AngloGold’s server in Perth and provided to IGO via FTP
                                transfer.
                            -   There have been no adjustments or scaling of assay data other than setting below detection limit
                                values to half detection for Mineral Resource estimation work.

Location of data points     -   All completed drill hole collar locations of surface holes have been using RTK GPS equipment, which
                                was connected to the state survey mark (SSM) network.
                            -   The grid system is GDA94 Zone 51 using AHD elevation datum.
                            -   Prior to 2007, drill hole path surveys have been completed on all holes using Eastman single shot
                                camera tools, with down-hole gyro tools used for all drilling post 2007.
                            -   A digital terrain model was prepared by Whelan’s Surveyors from aerial photography flown in 2007,
                                which has been supplemented with collar data surveyed using RTK GPS. This model is considered to
                                have centimetre-scale accuracy.

Data spacing and            -  The drill hole spacing nominally ranges from 25mN×25mE to 100mN×100mE (local grid) over most of
distribution                   the Mineral Resource area with a small area of 10mN×10mE used for grade control calibration work.
                            - Most of the Open Pit Mineral Resources has been tested on a 50mN×50mE grid with closer spaced
                               25mN×25mE patterns in the upper parts of the deposit.
                            - Open Pit Grade Control is completed on a 12mNx12mE pattern.
                            - The Boston Shaker Underground Mineral Resource is drilled at 50 x 25m in the upper levels and out to
                               100 x 100m at deeper levels.
                            - The Havana Deeps Underground Mineral Resource has been drilled on a 100mN×100mE pattern.
                            - Down-hole sample intervals are typically 1m with 2m compositing applied for Mineral Resource
                               estimation work.
                             - The Competent Person considers that these data spacings are sufficient to establish the degree of
                                geological and grade continuity appropriate for the Mineral Resource and Underground Ore Reserve
                                estimation procedures applied, and the JORC Code classification applied.


Orientation of data in      -   Most drill hole are oriented to intersect the shallowly east dipping mineralisation at a high angle and as
relation to geological          such, a grade bias introduced by the orientation of data in relation to geological structure is highly
structure                       unlikely.
Section 1: Sampling Techniques and Data
Criteria                    Commentary

Sample security             - The chain-of-sample custody is managed by AngloGold.
                             - Samples were collected in pre-numbered calico bags, which are then accumulated into polyweave
                               bags for transport from the collection site. The accumulated samples are then loaded into wooden
                               crates and road hauled to the respective laboratories (Perth) or processed onsite at Tropicana.
                             - Sample dispatches are prepared by the field personnel using a database system linked to the drill hole
                               data.
                             - Sample dispatch sheet are verified against samples received at the laboratory and any missing issued
                               such as missing samples and so on are resolved before sample preparation commences.
                             - The Competent Person considers that the likelihood of deliberate or accidental loss, mix-up or
                               contamination of samples is considered very low.

Audits or reviews           -   Field quality control data and assurance procedures are reviewed on a daily, monthly and quarterly
                                basis by AngloGold field personnel and senior geological staff.
                            -   The field quality control and assurance of the sampling was audited by consultant QG in 2007 and
                                2009. The conclusion of the audit was that the data was suitable for Mineral Resource estimation work.

Section 2: Reporting of Exploration Results
Criteria                    Explanation

Mineral tenement and land   -  The Tropical Gold Mine Mineral Resources are located wholly within WA mining lease M39/1096,
tenure status                  which commenced on 11 Mar 2015 and has a term of 21 years (expiry 10 Mar 2036).
                            - Tropicana Gold Mine in a joint venture between AngloGold (70%) and IGO (30%) with AngloGold as
                               manager.
                            - Gold production is subject to WA State royalties of 2.5% of the value of gold value.
                            - There are no material issues relating to native title or heritage, historical sites, wilderness or national
                               parks, or environmental settings
                             - The tenure is secure at the time of reporting and there are no known impediments to exploitation of the
                               Mineral Resource and Underground Ore Reserve and on-going exploration of the mining lease.


Exploration done by other   -   AngloGold entered in to a JV with IGO in early 2002 with the main target of interest being a WMC gold
parties                         soil anomaly of 31ppb, which was reporting in a WA government open file report. Prior to the JV, the
                                WMC soil sampling program was the only known exploration activity and the only dataset available
                                were WA government regional magnetic and gravity data.

Geology                     -   The Tropicana Gold Mine is on the western margin of a 700km long magnetic feature that is
                                interpreted to the collision suture zone between the Archean age Yilgarn Craton to the west and the
                                Proterozoic age Albany-Fraser Origan to the east of this feature. The gold deposits are hosted by a
                                package of Archean age high metamorphic grade gneissic rocks.
                            -   Four distinct structural domains have been identified – Boston Shaker, Tropicana, Havana and Havana
                                South, which represent the same mineral deposit offset by NE striking faults that post-date the
                                mineralisation.
                            -   The gold mineralisation is hosted by a shallowly SW dipping sequence of quartz-feldspar gneiss,
                                amphibolite, granulite and meta-sedimentary chert lithologies.
                            -   The gold mineralisation is concentrated in a ‘favourable horizon’ of quartz-feldspar gneiss, with a
                                footwall of garnet gneiss, amphibolite or granulite.
                            -   Mineralisation is characterised by pyrite disseminations, bands and crackle veins within altered quartz-
                                feldspar gneiss. Higher grades are associated with close-spaced veins and sericite and biotite
                                alteration.
                            -   Mineralisation presents as stacked higher grade lenses within a low-grade alteration envelope.
                                Geological studies suggest the mineralisation is related to shear planes that post-date the
                                development of the main gneissic fabric and metamorphic thermal maximum.
Section 2: Reporting of Exploration Results
Criteria                       Explanation

   Geology                         -   The Tropicana Gold Mine is on the western margin of a 700km long magnetic feature that is
                                       interpreted to the collision suture zone between the Archean age Yilgarn Craton to the west and the
                                       Proterozoic age Albany-Fraser Origan to the east of this feature. The gold deposits are hosted by a
                                       package of Archean age high metamorphic grade gneissic rocks.
                                   -   Four distinct structural domains have been identified – Boston Shaker, Tropicana, Havana and Havana
                                       South, which represent the same mineral deposit offset by NE striking faults that post-date the
                                       mineralisation.
                                   -   The gold mineralisation is hosted by a shallowly SW dipping sequence of quartz-feldspar gneiss,
                                       amphibolite, granulite and meta-sedimentary chert lithologies.
                                   -   The gold mineralisation is concentrated in a ‘favourable horizon’ of quartz-feldspar gneiss, with a
                                       footwall of garnet gneiss, amphibolite or granulite.
                                   -   Mineralisation is characterised by pyrite disseminations, bands and crackle veins within altered quartz-
                                       feldspar gneiss. Higher grades are associated with close-spaced veins and sericite and biotite
                                       alteration.
                                   -   Mineralisation presents as stacked higher grade lenses within a low-grade alteration envelope.
                                       Geological studies suggest the mineralisation is related to shear planes that post-date the
                                       development of the main gneissic fabric and metamorphic thermal maximum.


   Drill hole Information          -   A summary of the drill holes used to prepare the Mineral Resource estimate is not practical for this
                                       public report. The Mineral Resource estimate gives a best-balanced view of all the drill hole
                                       information.


   Data aggregation methods        -   No drill hole related exploration results are included in this report.
                                   -   No metal equivalent values are considered in the Mineral Resource estimate.


   Relationship between            -   No drill hole related exploration results are included in this report.
   mineralisation widths and       -   All Mineral Resource drilling intersects mineralisation at a high angle, and as such approximates true
   intercept lengths                   thickness in most cases.


   Diagrams                        -   IGO has included representative diagrams have been included in prior ASX public reports.


   Balanced reporting              -   The Mineral Resource is based on all available data and as such provides the best-balanced view of
                                       the Tropicana gold deposits.


   Other substantive               -   Information relating to other exploration data, such as density, metallurgical assumptions are detailed in
   exploration data                    Section 3 further below.


   Further work                    -   Exploration drilling is continuing within tenements with no major Mineral Resource update is planned at
                                       the time of reporting.

Section 3: Estimation and Reporting of Mineral Resources
Criteria                       Commentary

Database integrity             - AngloGold captures field data and drill hole logging directly in to handheld devices or laptop computers
                                 using Field Marshall and Geobank software.
                               - The drill hole data is managed in DataShed software, which is an industry recognised system for
                                 management of geoscientific drill hole information. Logging, assays and survey information is loaded
                                 directly into Datashed using data import routines, with loading procedures incorporating quality control
                                 checking and validation.
                               - Data is validated following loading through visual inspection of results on-screen both spatially and
                                 using database queries and cross section plots. Typical checks carried out against original records to
                                 ensure data accuracy include items such as overlapping records, duplicate records, missing intervals,
                                 end of drill hole checks and so on.
Section 3: Estimation and Reporting of Mineral Resources
Criteria                    Commentary

Site visits                 -   The Competent Person is site based and is actively involved in the management and supervision of
                                the Mineral Resource estimation.

Geological interpretation   - To control the Mineral Resource estimation process, three dimensional digital solids were prepared in
                              LeapFrog software for the mineralised zones, dykes, shears and garnet (mostly hangingwall) gneiss.
                            - Mineralised solids are prepared using a nominal 0.3g/t Au drill hole cut-off grade to encompass the
                              gold mineralisation targeted for Mineral Resource estimation. The dykes, shears and garnet gneiss
                              solids are prepared from geological logging. Regolith units are prepared as surfaces below topography
                              based on the geological logging.
                            - The resulting models encompass the mineralisation, the post-mineralisation barren dykes, the shears
                              controlling higher grade mineralisation and the main waste rock units that are the footwall and
                              hangingwall to the mineralisation.

Dimensions                  -   The Open Pit Mineral Resource is reported within an open pit Lerchs-Grossman-Analysis (LGA) pit
                                optimisation ‘shell’ based on a gold price of $A1,778/tr.oz. ($US1,400 /tr.oz), and life-of-mine pit
                                designs.
                            -   This reporting shell has dimensions of approximately 4.7km along strike, up to 1km wide and up to
                                450m deep, spanning all the major deposits.
                            -   The Underground Mineral Resource extends from the base of the Open Pit Resource below the Open
                                Pit designs with plan extents in long dimension down dip to the SE by up to 900 m and up to ?200m
                                wide. A smaller lode extends from the Havana South pit with down dip extents of ?200m and up to
                                200m wide. Other parts of the Underground Mineral Resource are below the other pits.

Estimation and modelling    -   The Mineral Resource excluding Boston Shaker, was updated in July 2018:
techniques
                                 o   A single model was created to estimate both the Open Pit and Underground Mineral Resource.
                                 o   Has been estimated from the drill hole data available to 11 July 2018, which included 15,556 drill
                                     holes for a total of 1,172,907m of drilling of which, 1,285 holes were DD for 479,972m and 2,474
                                     holes were RC for 284,552m. An additional 11,797 RC Grade Control holes were used in the
                                     estimate (408,383m).
                                 o   The drill hole data was composited to 2m lengths within geological estimation domains using
                                     Vulcan software.
                                 o   Grade top-cut or caps were applied to the composites after examining cumulative probability
                                     plots of the data, and high-grade estimation limits were applied to limit the spatial spread of high
                                     grades in weakly mineralised domains.
                                 o   The composite data was declustered in each estimation domain using cell declustering with
                                     varying cell sizes, to determine a stable declustered mean grade.
                                 o   Gold continuity was interpreted for each estimation domain and grades for large panels were
                                     estimated using ordinary block kriging in Isatis software, with estimation panel dimension
                                     24mE×36mN×10mElv.
                                 o   A multi-pass search was used to account for the different drill hole spacings after incorporating
                                     the grade control drilling into the estimate. A short search-radius was used to estimate blocks in
                                     and around the grade control data, with an expanding search up to 120 x 120m used for wider-
                                     spaced data.
                                 o   Selective Mining Unit (SMU) grades were then estimated for each panel using the Local Uniform
                                     Conditioning method, where the SMU grade distribution within each panel is estimated through a
                                     change of support then the SMUs are localised using kriging so the distribution within the panel
                                     reflects the local grade trends in nearby data. The information effect of 12mE×12mN grade
                                     control information was accommodated in the change of support from panels to SMUs
                                 o   The SMU dimensions were set to prepare multiple SMUs per panel with SMU dimensions of
                                     12mE×12mN×3.33mElv. The elevation heights nominally match the mining flitch heights applied
                                     at each area.
                                 o   The estimate model was validated by comparing (input) data declustered means for each domain
                                     to the respective (output) block estimated grades both globally within each domain and locally
                                     using moving window ‘swath-plot’. On screen visual inspections were also completed in plan and
                                     section to ensure that the grade trends observed in the data were acceptably reproduced in the
                                     estimates without over extrapolation in areas of sparse drilling.
                                 o   Comparison of the Open Pit estimate forecasts to mine production indicates acceptable
                                     forecasting performance for monthly, quarterly and annual recompilation periods.
                            -   The Boston Shaker Mineral Resource was updated in January 2019:
                                 o  A single model was created to estimate both the Open Pit and Underground Mineral Resource.
                                 o  Has been estimated from the drill hole data available to 22nd January 2019, which included 1,471
                                    drill holes for a total of 191,340m.
                                 o Estimation parameters were kept consistent with the previous estimate (detailed above).
                            -   Sulphur is modelled as a secondary variable.

Section 3: Estimation and Reporting of Mineral Resources
Criteria                   Commentary

Moisture                   -   The tonnages are estimated on a dry basis.

Cut-off parameters         -   Open Pit
                                o   The Open Pit estimate is reported within a pit optimisation shell with an assumed gold prices of
                                    $US1,400/tr.oz ($A1,778/tr.oz) and cost assuming back-filling of pits (‘Long Island Study’).
                                o   On the basis described above, and assuming lower processing costs and higher metallurgical
                                    oxide ore, the cut-off are ?0.3g/t Au for oxide Mineral Resources and ?0.4g/t Au for transitional
                                    and fresh Mineral Resources.
                           -   Underground
                                o   The Underground estimate cut-off grade is based on the assumptions of the Boston Shaker pre-
                                    feasibility study, and uses a gold price of $US1,400/tr.oz ($A1,778/tr.oz) and underground mining
                                    and processing cost assumptions for fresh Mineral Resource.
                                o   The cut-off grade for reporting the Underground Mineral Resource on this basis is ?1.8g/t Au.


Mining factors or          -   The mining factors and assumption for the Open Pit Mineral Resource is the current mining method of
assumptions                    conventional truck and shovel mining with blasting of 10 m benches in Tropicana and Havana and
                               blasting of 7.5 m benches in Boston Shaker.
                           -   Open Pit ore is mined in three 1/3 blast height flitches, with ore predefined by 12mE×12mN RC grade
                               control drilling and 1m downhole sampling.
                           -   The assumed Open Pit mining selectivity are the SMU dimensions assumed for the LUC estimates.
                           -   The assumption for the Underground Mineral Resource is long-hole open stoping between 25m levels.
                           -   No Mineral Resource margin (extremal) dilution has been modelled in either estimate.
                           -   Eventual prospects of economic extraction for the Open Pit resource have been assessed through pit
                               optimisation studies and reporting the Mineral Resource within pit designs and an optimisation shell.
                           -   The Boston Shaker Underground Mineral Resource is currently the focus of a study into Underground
                               mining.

Metallurgical factors or   - The ore processing method at Tropicana is well-established with conventional, crushing, grinding then
assumptions                  carbon-in-leach extraction of gold followed by electrowinning to produce gold bars.
                           - An average metallurgical recovery as described in Section 4 further below, has been assumed for both
                             the Open Pit and Underground Mineral Resources based on metallurgical testing completed as part of
                             the Feasibility Study for the Havana Open Pit.

Environmental factors or   -  Tropicana Gold mine operates under an environmental management plan that meets or exceeds all
assumptions                   statutory and legislative requirements.
                           - Mined waste rock is disposed in waste dumps which are progressively rehabilitated as mining
                              progresses with any potentially acid generating waste encapsulated in non-acid generating material.
                            - A tailing storage facility is used to contain and capture process residues.
                            - The mine produces rehabilitation plans for ongoing rehabilitation and mine closure plans, and the costs
                              are included in the financial model.

Bulk density               -  AngloGold routinely collects in situ bulk density measurements on ?10cm long core segments using
                              the Archimedes principle method of dry weight versus weight in water. There are ?200,000 density
                              measurements in the estimation database with the vast majority (~98%) of measurements from fresh
                              rock and the remainder in the regolith or cover.
                           - Measurements are collected over 1m to 5m intervals targeting intervals that are deemed representative
                              of key lithologies in fresh rock. Density has been collected on core within the regolith from ‘core-from-
                              surface’ drill holes, with the measurement method accounting for voids.
                            - Depending on rock type density ranges of 1.89 t/m3 to 2.18 t/m3 in the saprolite and ranges from
                               2.56t/m3 to 2.96 t/m3 in the transitional and fresh rock domains.
                            - Density is estimated by ordinary block kriging in the Mineral Resource estimates apart from a few
                               minor domains with sparse data (such as the regolith), where density is assigned as a mean of the
                               data.

Classification             -   The basis of classification of the Tropicana estimates into different JORC Code confidence categories
                               is drill hole spacing as follows:
                           Open Pit:
                                o   Measured Mineral Resources: average 25mE×25mN collar spacing
                                o   Indicated Mineral Resources: average 50mE×50mN collar spacing

Section 3: Estimation and Reporting of Mineral Resources
Criteria                    Commentary
                                    o    Inferred Mineral Resources: average 100mE×100mN collar spacing (or less) when evidence of
                                         geological or grade continuity is sufficient to support grade estimation.
                            Underground:
                                    o    Measured Mineral Resources: average 12.5mE×12.5mN intercept spacing
                                    o    Indicated Mineral Resources: average 25mE×50mN intercept spacing
                                    o    Inferred Mineral Resources: average 100mE×100mN collar spacing (or less) when evidence of
                                         geological or grade continuity is sufficient to support grade estimation.
                                    o    The Underground Mineral Resource is filtered to remove isolated blocks that are unlikely to pay
                                         for development to be included in the mine plan.

                            -   AngloGold considers that the Measured Resource support mine planning with a 90% confidence
                                interval of ±15% on tonnage or grade on a quarterly production basis, with Indicated Resources have
                                the same confidence but applicable on an annual production basis.
                            -   The Competent Person considers this classification takes in to account all relevant factors such as data
                                reliability, confidence in the continuity of geology and grades, and the quality, quantity and distribution
                                of the data.
                            -   The classification reflects the view of the Competent Person reporting the estimate.

Audits or reviews           -   The Open Pit estimate methodology was audited by consultant QG in 2007, 2009 and 2011.
                            -   Consultants Golder Associates audited the 2015 estimate in 2015.
                            -   Consultants Optiro reviewed and endorsed the Mineral Resource Estimate in November 2017.
                            -   AngloGold also conducts internal peer reviews on the completion of estimate updates.

Relative                    - AngloGold has carried out some non-conditional simulation studies to confirm the relationship between
Accuracy/Confidence           drill spacing and 90% confidence interval assumptions and found the study results in agreement with
                              the drill spacing classification criteria described above.
                            - The trail grade 10mE×10mN control pattern drilled within an 100m×100m areas during the project
                               Feasibility Study has also confirmed the precision assumptions and confidence the Mineral Resource
                               estimate in that area
                            - Mine reconciliation for the life-of-mine to date is satisfactory.

Section 4: Estimation and Reporting of Ore Reserves
Criteria                    Commentary
Mineral Resource estimate   - The estimate used for the Open Pit Ore Reserves is described in the preceding sections of this JORC
for conversion to Ore         table 1.
Reserves                    - The estimate used for the Underground Ore Reserve study is the Underground estimate described in
                              the preceding sections of this JORC table 1.
                            - The Tropicana Mineral Resource is reported inclusive of the Open Pit and Underground Ore
                              Reserves.


   Site visits                  -       The Competent Person(s) for the Ore Reserve visits site several times per year and as such has a
                                        good knowledge of the operation and has regular contact with personnel providing key inputs to the
                                        estimate.

   Study status                 -       Open Pit
                                         o Mine design using conventional mining methods and current processing operations confirming
                                             that the mine plans are technically feasible and economically viable.

                                -       Underground
                                         o The level of study for the Underground Ore Reserve estimate is commensurate with industry
                                             expectations of a Pre-Feasibility Study as described in the JORC Code, with all material
                                             Modifying Factors considered in the Underground Ore Reserve estimate.
                                         o    Mine design using conventional mining methods and current processing operations confirming
                                              that the mine plans are technically feasible and economically viable.


   Cut-off parameters           -       Pit
                                          o   The Open Pit estimate cut-off grade is reported within a pit design with an assumed gold price of
                                              $US1,100/tr.oz ($A1,509/tr.oz) and costs assuming back-filling of pits.
Section 4: Estimation and Reporting of Ore Reserves
Criteria                      Commentary
                                     o   On the basis described above, the cut-off is ?0.6g/t Au for oxide Ore Reserve and ?0.7g/t Au for
                                         transitional and fresh Ore Reserve.

                                -   Underground
                                     o The Underground estimate cut-off grade is based on the assumptions of the Boston Shaker pre-
                                         feasibility study and the net return of gold produced at the processing plant for each ore type,
                                         and uses a gold price of $US1,100/tr.oz ($A1,509/tr.oz).
                                     o The specific cut-offs for reporting the Underground Ore Reserve are ?3.17g/t AU for fresh rock.

                                - Costs include processing and maintenance fixed and variable costs, general administration costs, ore
                                  premium including re-handle and overhaul, closure costs and all non-mining related stay-in-business
                                  capital expenses. Underground costs include development and stoping cost.




   Mining factors or            -   Open Pit
   assumptions                       o The open cut material is scheduled to be mined using conventional methods using a large
                                         hydraulic shovel/excavator fleet matched with large rear dump trucks. The pits are designed
                                         based on 10.0m to 12.5m benches.
                                     o Overall Wall angles for the open pit designs range between ~36 degrees for the footwall and 59
                                         degrees for the hangingwall. Conventional drill and blast techniques are used to break the rock.
                                     o Within the open pit resource model ore loss and dilution is accounted for in the selectivity of the
                                         SMU sizes volume, as such no further factors applied.

                                -   Underground
                                     o The underground is designed using conventional longitudinal and transverse stoping method.
                                         The stopes are designed with a footwall angle of 40 degrees.
                                     o Planned mining dilution for the underground operation has been designed into the mining
                                         shapes, with a further 10% unplanned dilution factor applied.
                                     o New infrastructure appropriate for an underground mine of the size and life of the Underground
                                         Ore Reserve has been planned and costed.
                                     o Mining recovery of development ore is assumed to be 100% and production ore is assumed to
                                         be 95%.

                                - Inferred Mineral Resources are excluded from both the Open Pit and the Underground Ore Reserve
                                  estimates.

   Metallurgical factors or     - The metallurgical process for Tropicana ores is established and is a process flow of crushing (grinding
   assumptions                    rolls), grinding, and the recovery of gold through carbon-in-leach and electrowinning to produce gold
                                  bars.
                                - Gold recovery factors are based on extensive metallurgical testing and range from 92.5% recovery in
                                  mineralised transported material down to 89.9% recovery in fresh rock.
                                - No deleterious elements are present in the ore.
                                - In the project Feasibility Study Pilot scale test work was carried out on large diameter (PQ) core
                                  collected in a spatially representative manner from the deposit. To date metallurgical recoveries have
                                  been consistent with the forecasts from these studies.
                                - As a gold mine, the gold doré bars produced are not subject to any specification requirements.

   Environmental                -  Tropicana Gold mine operates under an environmental management plan that meets or exceeds all
                                   statutory and legislative requirements.
                                - Rock waste is disposed in waste dumps which are progressively rehabilitated as mining progresses
                                   with any potentially acid generating waste encapsulated in non-acid generating material.
                                 - A tailing storage facility is used to contain and capture process residues.
                                 - The mine produces rehabilitation plans for ongoing rehabilitation and mine closure plans, and the
                                   costs are included in the financial model.

   Infrastructure               - All processing and support infrastructure is in place as part of the established open pit mine.
                                - Underground specific infrastructure is planned to be installed and costed.
                                - No other significant infrastructure is anticipated and sustaining capital cost for infrastructure are
                                  included in the financial model.

   Costs                        - The capital cost of infrastructure have been provided by suppliers and engineering consultants.
                                - Budget level mining operating costs are provided by the mining contractor.
                                - Processing, maintenance and general administration costs have been obtained by the Tropicana
                                  budget.
                                - As discussed there are no deleterious elements and as such related costs are not relevant.
                                - The source of $AU to $US exchange rates is AngloGold/IGO corporate guidance.

Section 4: Estimation and Reporting of Ore Reserves
Criteria                    Commentary
                              - Transportation charges for gold doré bars is relatively minor and are charged on a contract basis with
                                the refinery.
                              - Treatment and refining charges are included in the refining contract and there are no specification ore
                                penalties associated with treatment and refining.
                              - WA State royalties are levied at 2.5% of the value of gold produced.

   Revenue factors            - The assumption for gold prices for the Underground Ore Reserve is based on corporate guidance and
                                assessment of historical prices
                              - The $AU to $US exchange rate is also based on corporate guidance and assessment of historical
                                exchange rates.

   Market assessment          - The primary product being produced is gold within the same parameters and methods as current
                                operations.
                              - The market is the same as current operations.

   Economic                   - The inputs into the economic analysis for the Underground Ore Reserve update have already been
                                 described above under previous subsections.
                              - The economic evaluation has been carried out on a real basis (adjusted for inflation) with rates
                                 provided by AngloGold corporate.
                              - The confidence in majority of the economic inputs is high as Tropicana is an operating mine and as
                                 such, costs (operating and capital) are well understood.
                              - The confidence in metal prices and exchange rates is consistent with routine industry practices with
                                 the data derived from reputable forecasters.
                               - The discount rate used for NPV calculations is derived from the weighted average cost of capital in
                                 Australia.

   Social                     - Tropicana Gold Mine has all necessary agreements in place with key stakeholders and matters
                                leading to social licence to operate.

   Other                      - There are no material naturally occurring risks associated with the Tropicana operation.
                              - There are no material legal agreements or marketing arrangements not already discussed in prior sub
                                sections.
                              - There are no unresolved third-party matters hindering the extraction of the Underground Ore Reserve.
                              - Necessary government and statutory approvals are currently in application.

   Classification             - The Open Pit and Underground Ore Reserve has been classified into Proven and Probable Ore
                                Reserve as per the JORC classification based on the underlying MRE classification in the MRE model,
                                with Measured Mineral Resources converted to Proven Ore Reserves, and Indicated Mineral
                                Resources converted to Probable Ore Reserves.
                              - The classifications applied to the estimate are consistent with the opinion of the Competent Person(s)
                                reporting the both the Open Pit and Underground Ore Reserve.

   Audits or reviews          - The current Underground Ore Reserve estimate has been reviewed internally by AngloGold
                                personnel.

   Discussion of relative     - AngloGold has carried out simulation to quantify the confidence in the Underground Ore Reserve –
   accuracy/ confidence         refer to the commentary at the end of Section 3 above.
                              - The main driver of accuracy and confidence is the spacing of the pre-production drilling, which is
                                captured in the Mineral Resource JORC Code classifications underpinning the Underground Ore
                                Reserve estimates.
                              - Confidence in both the Open Pit and Underground Ore Reserve inputs is high given the mine is in
                                operation and costs, prices and recoveries are well understood.
                              - The Underground Ore Reserve estimates are considerate to have sufficient local accuracy to support
                                mine planning and production schedules with Proved Underground Ore Reserves considered a
                                reliable basis for quarterly production targeting and Probable Underground Ore Reserves reliable for
                                annual production targets.
                              - Confidence in the mine design and schedule are high as mining rates and modifying factors are based
                                on actual site performance. Mine designs are consistent with what has been effective previously.
                              - The mine to mill reconciliation data to date indicates the forecast precision of the estimates is good
                                with the Ore Reserve estimate being slightly conservative.

Date: 29/03/2019 01:30:00 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.

Share This Story