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: 16.8-year LoM; aimed at 70,000oz Au per annum steady-state production (12 years)

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

Fully Mobilised & Producing: Building 30,000t ore stockpile to commence processing at Ezulwini Plant

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

ZAR 875M (~USD 50M) senior syndicated loan facility executed with IDC and Absa Bank, two Tier 1 South African banks / US$12.5M Nebari Loan Facility, part of a scalable US$35M package, with all CPs met and funds received