Impala Platinum Holdings Limited · JSE:IMP

Impala Platinum — Barplats Investments — H1 FY2003 Earnings Presentation

10 slides from Impala Platinum's earnings presentation, Feb 1, 2003

  1. Slide 1: Contents

    Contents ƒ Key features ƒ What we expected ƒ What we encountered ƒ Income statement ƒ What we did about it ƒ What next 1

  2. Slide 2: Key features / What we expected

    Key features ƒ Tonnes milled down 32% to 307 000 tonnes ƒ Cash costs up 24% ƒ Platinum in concentrate down 25% to 16 290 ounces ƒ Achieved dollar basket price down 4% to $672/ounce ƒ Attributable loss of R17 million What we expected For the half-year ƒ 445 000 tonnes milled ƒ Average yield in concen

  3. Slide 3: Open cast vs underground mining / What we encountered

    Open cast vs underground mining Tonnes mined 280000 250000 220000 190000 160000 130000 100000 70000 40000 10000 Q3 Q4 Q1 Q2 FY02 FY03 U/G plan O/C plan What we encountered Open cast mining ƒ Intersected potholes and dykes Underground mining problems ƒ Poor mining conditions ƒ Geological problems (po

  4. Slide 4: Tonnes mined vs budget; actual vs planned PGM head grade

    Tonnes mined vs budget as a percentage Calendar 2002 (%) Q1 Q2 Q3 Q4 Open cast 78 80 120 88 Underground - 51 43 25 Total 78 67 81 53 Actual vs planned PGM head grade g/t 5 4 3 2 1 0 Q3 Q4 Q1 FY03 Q2 FY02 Actual Planned 4

  5. Slide 5: Actual vs planned recoveries and platinum in concentrate

    Actual vs planned recoveries (%) 80 70 60 50 32% 30% 40 30 20 10 0 Q3 FY02 Q4 Q1 FY03 Q2 Actual Planned Actual vs planned platinum in concentrate 000oz 15000 10000 5000 0 Q3 FY02 Q4 Q1 FY03 Q2 Actual Plan Pt oz 5

  6. Slide 6: Results - Consolidated income statement

    Results - Consolidated income statement R’000 FY03 FY02 FY02 interims interims Sales revenue 107 781 124 119 265 832 Cost of sales 107 283 96 908 193 162 Contract mining cost 56 728 38 416 92 843 Contract concentrating costs 23 472 26 303 50 219 Amortisation of mining assets 22 960 28 656 41 794 Oth

  7. Slide 7: What we did / Analysis of costs

    What we did Modified bord and pillar widths Redesigned support systems ƒ Resin bolting ƒ Long anchors Development strategy through dyke ƒ Further reduction of bord widths ƒ Increased supervision ƒ Sunday permit for development blasting Analysis of costs ƒ Lower production volumes ¾ 60% of costs are

  8. Slide 8: What next / The mining plan going forward

    What next ƒ Change mining method - bord and pillar to hybrid system ¾ Mechanical development and conventional stoping ƒ Development sections ¾ Change minor dip from 10.5° to 8° ¾ Separate development from stoping ¾ Dedicated equipment and personnel ƒ Stoping sections ¾ Conventional stoping with mech

  9. Slide 9: Reserves and resources (UG2 orebody) / Prospects

    Reserves and resources (UG2 orebody) Tonnage Platinum (000t) (000oz) Proved 500 30 Probable 8 300 590 Indicated 16 000 1 400 Prospects e River Mine N ƒ Expected to continue BRITS to make losses for the rest BRITS EXT 4 of the financial year – aggravated by stronger rand ƒ Krokodildrift and Zandfonte

  10. Slide 10: Operational Review

    OPERATIONAL REVIEW For the six months ended Crocodile River Mine | 31 December 2002 BARPLATS 10

Barplats Investments — H1 FY2003 Earnings Presentation on 6ix