Projects

South Africa, Witwatersrand
Witwatersrand Basin Project (WBP)

Significant enterprise value growth potential

Differentiating Mineral Resource: 5.025 million ounces of gold JORC Mineral Resource @ 4.66g/t Au; 65% of MRE in Measured and Indicated categories

Robust DFS – Phase 1 Qala Shallows: 18-year LoM; aimed at 70,000oz Au per annum steady-state production (9 years)

Project 200: significant growth opportunity up to 200,ooooz Au per annum

Production-ready: surface and underground infrastructure in place to facilitate rapid production growth

CAPEX: Low due to historical mine shafts to access virgin mine blocks; planned toll processing with overall competitive AISC

Secured cost-effective toll treat agreement with Ezulwini Mining Company, Sibanye-Stillwater subsidiary