Other projects

In addition to PPM, Platmin also has interests, both direct and indirect, in several PGM projects – the Sedibelo and Magazynskraal projects located in close proximity to PPM on the western limb and the Mphahlele project on the eastern limb of the Bushveld Complex. It also has interest in the Loskop and Grootboom projects on the eastern limb.

The interest in Sedibelo follows the conclusion of an agreement in April 2010 to acquire the 10% interest in the Sedibelo Platinum Project held by Barrick Gold Corporation. The remaining 90% of Sedibelo is owned by the Bakgatla-Ba-Kgafela Tribe, one of Platmin’s BEE partners. The agreement with Barrick is subject to certain customary conditions precedent, including a 60-day pre-emptive right held by the Bakgatla-Ba-Kgafela Tribe.

A subsidiary of Platmin is currently conducting a bankable feasibility study on the Magazynskraal property, on behalf of its owners, Pallinghurst South Africa, which in turn has an interest in Platmin. The Sedibelo property is located between PPM to the west and Magazynskraal to the east.

On the eastern limb, Platmin also has interests in a suite of PGM development projects, notably the Mphahlele, Grootboom and Loskop projects.

In all, PPM and these projects give Platmin access to an attributable Inferred Mineral Resource of 10.1 million PGM ounces (3PGM+Au) of which 9 million ounces are Measured and Indicated Resources. PPM has 3.1 million PGM ounces of Proven and Probable Reserves.