Slide 1: Elikhulu Tailings Retreatment Operation
Elikhulu Tailings Retreatment Operation July 2018 Site Visit 1
Slide 2: Disclaimer
DISCLAIMER The name 'Presenter' refers to Pan African Resources PLC and its advisors, subsidiaries or affiliated companies. This presentation has not been filed, lodged, registered or approved in any jurisdiction and recipients of this document should keep themselves informed of and comply with and
Slide 3: Forward Looking Statements
FORWARD LOOKING STATEMENTS Statements in this report that address exploration activities, mining potential and future plans and objectives of Pan African Resources are forward-looking statements and forward-looking information that involve various risks, assumptions and uncertainties and are not sta
Slide 4: Introduction
PAN AFRICAN TSOURCES INTRODUCTION Leslie/Bracken Complex . Winkelhaak Complex *, i
Slide 5: Construction Progress Update
CONSTRUCTION PROGRESS UPDATE • Currently in final stages of construction, ahead of DFS schedule and on budget First gold produced – anticipated August 2018 • Steady state production to be achieved during October 2018 • Expansion to incorporate ETRP tonnage into Elikhulu - forecast to be completed
Slide 6: Elikhulu Process Plant
ELIKHULU PROCESS PLANT 6
Slide 7: TSF Extension Layout
TSF EXTENSION LAYOUT 7
Slide 8: TSF Upper Compartment
TSF UPPER COMPARTMENT 8
Slide 9: Leeupan Dam
LEEUPAN DAM 9
Slide 10: Contributors to Successful Project Implementation
CONTRIBUTORS TO SUCCESSFUL PROJECT IMPLIMENTATION • Involvement of owners team Selection of the best team, all who have been involved in similar projects Entire team involved during the DFS stages leading to minimal changes during execution • Better control of project scope minimising scope cree
Slide 11: Confirmatory Infill Drilling Programme
CONFIRMATORY INFILL DRILLING PROGRAMME Infill drilling at the Kinross dam: • A total of 63 holes drilled (1,827m); • Drilling grid of 100m x 100m, well within the modelled variogram range of 345m; • Yielding a Proven Mineral Reserve at >90% confidence in short term planning; and • Drilling completed
Slide 12: Remining Plan
REMINING PLAN 01-Jun-19 to 01-Jul-19 we eo 0 Por » —- 7
Slide 13: Deposition Plan
EPOSITION PLAN MON THE FOLLOWING: N BASIN CONT: o MTPM DEP NOT AS-BUILT WITHIN COMP. IU FOR FIRST 2 MONTHS. IT TO BOTH COMPARTMENTS FROM MONTH 3 ONWARD: TIMATED TAILINGS UNDERFLOW ONLY. THLY DEPOSITION PLAN \ATANT POND \ 13
Slide 14: Tonnage Treatment Plan
NAGE TREATMENT PLAN Total Tons Elikhulu and ETRP 1400 000 1200 000 | _ ll 800 000 600 000 400 000 200 000 “SRAARSTAEAARSREERRESRHSRARRASA EE SESESPESSEESSRSESSES SES RSE EEETES Elikhulu Tonnes ETRP Tonnes
Slide 15: Annualised Tonnage Treatment Plan
ANNUALISED TONNAGE TREATMENT PLAN Total Tons Elikhulu & ETRP 16,000,000 14,000,000 12,000,000 10,000,000 8,000,000 6,000,000 4,000,000 2,000,000 - 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 Elikhulu Tonnes ETRP Tonnes 15
Slide 16: Forecast Annualised Gold Production Plan as per DFS
FORECAST ANNUALISED GOLD PRODUCTION PLAN AS PER DFS * Excludes ETRP tonnage * Soil material excluded from current production plan * This soil material can be used to smooth production profile in later years 16
Slide 17: Operational Key Success Factors
OPERATIONAL KEY SUCCESS FACTORS Organizational culture • Culture of accountability - no blame culture I CARE (Culture of Accountability, Respect / Responsibility and Efficiency) • Taking initiatives • Encouraging innovation • About my health & safety (my wellbeing) • Continuous improvement • About o
Slide 18: Certain Key Risks, Mitigations and Opportunities
CERTAIN KEY RISKS, MITIGATIONS AND OPPORTUNITIES Risk Mitigation Confidence level on tonnage and grade • The numerous studies and reviews carried out “in-house” by can negatively affect the project returns Harmony in 2008, SGS in 2009, SRK in 2011 and make the project unviable (2008 • PAR appointed
Slide 19: Risk, Mitigations and Opportunities
RISK, MITIGATIONS AND OPPORTUNITIES Risk Mitigation Theft of equipment from TSF and • Phase 2 fence Hydraulic mining can negatively affect • Proactive security contractor and deploy technology solutions production plan Community unrest can temporarily stop • Maintain current community engagement eff
Slide 20: Thank you
Thank you I CARE 20