WITRAND COLLIERY

Witrand Colliery started operations in January of 2017 with first coal delivered in February 2017. It is an opencast mine with a strip ratio of 4 to 1.

Witrand was successfully mined and produced 129 000 saleable tons of coal in 2017 which was sold to Eastside Coal Company and Navidu Investments. This was a highly successful mine.

Rehabilitation of the mine is currently underway and at an advanced stage, with only re-seeding to be done as at January 2018.

BULTFONTIEN COLLIERY

Bultfontein Colliery started operations in June of 2017 with first coal production in February 2018, and is an openpit mine with a strip ratio of 3.9 to 1.

The mine will produce 870 000 tons per year and supply the export market, and will have a Life of Mine of 4 years. Year 1 production already contracted to 2 global majors.

The mine will produce 2 products, namely 5 500 kcal/kg and 5 150 kcal/kg coal.

• Measured Resource of 3.4mt ROM.
• Competent Person Report (CPR) prepared by Gemecs (Pty) Ltd.
• Feasibility Study completed by Steffanutti Stocks Mining Services.
• Mining Right issued in 2013.
• NEMA approved in 2014.
• WUL was approved in 2015.
• 2 customers secured for Year 1.

VAALBANK COLLIERY

Vaalbank Colliery is expected to commence operations in Q2 of 2018, and will be an opencast mine with a strip ratio of 5 to 1.

The mine will produce 1 million tons per year of export and local grade coal.

• Measured Resource of 7mt ROM.
• Competent Person Report (CPR) prepared by Gemecs (Pty) Ltd.
• Mining Right issued in 2017.
• NEMA approved in 2017.
• WUL was approved in 2016.

Puckree Group has recently agreed a sale transaction for cash and a future royalty stream. The transaction is awaiting regulatory approvals.