Wesizwe Platinum Limited · JSE:WEZ
Wesizwe Platinum — Technical Presentation (March 2008)
49 slides from Wesizwe Platinum's technical presentation, Mar 31, 2008
Slide 1: Bankable Feasibility Study on the Exploitation of the Frischgewaagd-Ledig Core Project Area
Bankable Feasibility Study on the Exploitation of the Frischgewaagd-Ledig Core Project Area 31 March, 2008
Slide 2: Disclaimer
Disclaimer The information in this document (this “Document”) is for information purposes only. This Document will form part of a verbal briefing by members of Wesizwe Platinum Limited and cannot be relied on or used in isolation there from. This Document does not constitute an offer of any kind or
Slide 3: Highlights
Highlights Capital construction to proceed on the basis of this BFS 58 month construction programme commencing in third quarter of 2008 The total annual PGM production during steady state will average 350 000 ounces per annum, giving a total life of mine yield of 10 million ounces Anticipate
Slide 4: Project Economics
Project Economics Capital cost estimates of R 5, 6 billion with peak cost funding in 2013 at the start of production This includes an overall contingency of R 275,3 million Electrical self-generation contingency of R 168 million for possible electricity supply delay by Eskom Project Net Pres
Slide 5: Production Profile
Production Profile Steady state production capacity 230 000 tpm (cf 180 000 tpm in PFS) Production commences with a combination of tonnage output from both Merensky and UG2 Steady state production 180 000 tpm Merensky and 50 000 tpm UG2 Once the Merensky is depleted, the output profile shift
Slide 6: Technical Features
Technical Features Mining design comprises primary access by a twin vertical shaft system comprising a main, men and materials shaft and ventilation shaft/second outlet specifically designed for the flexibility to accommodate both conventional and mechanised mining Main men and materials shaft =
Slide 7: Spatial Orientation within the Western Bushveld
Spatial Orientation within the Western Bushveld NkweBarrick Boyntens Wesizwe RBR WBJV Impala Oskraal 248JQ 4 Wesizwe Kam e elfo ntein 257JR s Sjambok Zyn pie op tk 1 ar Oude Kraal Anglo Platinum Barplats ie Sw s/ JQ 258JR p 26 op 4 oik Afplats Ro ElandNkwe Skie tfo 437 Pandora nte Barplats JQ Wester
Slide 8: Exploration Properties
Exploration Properties DOORNHOFK 91019 sr _————— LEGEND WESIZWE MINERAL HOLOING! ANGLO PLATINUM 10% Nato ruannoMsos 9) B ANGLO PLATINUM. ROYAL 8 SV AREA ANGLO PLATINUM 100% PGE} AND ANGLO GOLD 100% OF [ED weesizwre nancrat noconves IMPALA 58.83% AND OTHERS IMPALA MINING LICENCE ARE| PLATINUM GROUP M
Slide 9: Structural Geology
Structural Geology 3D geoseismic survey confirmed the thick flat lying nature of the reef. 9
Slide 10: Mining Wireframe
Mining Wireframe 10
Slide 11: Orebody Parameters
Orebody Parameters Middling between Merensky and UG2 - averages 20 – 60 m Average reef thickness – 1,5 m 6O - 70% of the orebody dips at between 3 – 5 degrees Major faulting E – W and dykes N – S form blocks defining natural mining sections and ventilation districts Shaft reef elevation –
Slide 12: Resource/Reserve Summary
Resource/Reserve Summary Resource Reef Type Type PGE(4) moz Pt moz Pd moz Rh moz Au moz Cu Ton mt Ni mt Merensky Reef Measured 0,902 0,579 0,244 0,042 0,005 0,004 0,011 Total Measured 0,902 0,579 0,244 0,042 0,005 0,004 0,011 Merensky Reef Indicated 3,517 2,281 0,939 0,166 0,143 0,015 0,041 UG2 Reef
Slide 13: Surface Infrastructure
pe ee wesizwe Surface Infrastructure
Slide 14: Surface Layout
Surface Layout Wast rogk dump Fristhgewgagd\> n> nica wesizwe
Slide 15: Surface Infrastructure Mining
Surface Infrastructure Mining Steel headgears (A-Frame) for the Main# 77 m high and the VENT# 30 m high. The permanent winders are Friction rock winder, Double Drum men & material, single drum service winder and emergency winder on the vent shaft. All winders on the main shaft in the same wind
Slide 16: Surface Infrastructure
Surface Infrastructure 16
Slide 17: Plant Surface Area
Plant Surface Area Plant area flow from stock-piles, milling and floatation There is a plant substation near the mills Three mills same size installed in modular pattern The surface run off and rainwater dams on the down dip side of the plant near Eland river 17
Slide 18: Bulk Services - Surface
Bulk Services - Surface Visual and Noise impact prevention berm Water Temporary water 200 kl/day from Magalies water (commitment received). Permanent state water 6 Ml/day feasibility to commence. Magalies water plant 40 km from site – potential synergies with sharing pipeline. Meetings and
Slide 19: Bulk Services - Surface
Bulk Services - Surface Power Temporary Power requirements for construction - 5 MVA ESKOM temporary power supply 2 MVA - commitment received Murray and Roberts asked to produce the 3 MVA shortfall Alternative power sources being investigated Permanent: Feasibility commenced for permanent
Slide 20: Surface Infrastructure
Surface Infrastructure Compressed air supplied using three compressors for the mine and process plant Access roads junction to the Sun city R 556 road and the R 565 Rustenburg road. Telecoms and data network to be established at start of earthworks. Tailings dam located on Mimosa (4 km to th
Slide 21: Mining
Mining
Slide 22: Access Method
Access Method Twin vertical shafts Main 8,5 m diameter to a depth of 980 m Vent 7,5 m diameter to a depth of 910 m Winders Ground mounted Koepe friction rock winder (2 x 20 t skips) DD men & material, single cage with counterweight Single drum service winder Single drum emergency win
Slide 23: Main Shaft Permanent Configuration
Main Shaft Permanent Configuration Service M&M cage cage counter weight 2.7 m Winder Men and material cage Side 150 persons / 11.5 tonne payload 20t 20t skip skip NORTH 7,6 m 8.5m Diameter 23
Slide 24: Mining Parameters
Mining Parameters The mine will be divided in production sections based on geological boundaries. Six sections will be mined at any one time. Each section will be accessed by a twin footwall drive below the UG2. A reef drive will be carried above the footwall drive on UG2. Each section is
Slide 25: Typical Stoping Layout
Typical Stoping Layout e inteke orwoy Qi PAss Return ciew vay nica wesizwe
Slide 26: Mining Parameters
Mining Parameters Size of the mine 230 000 tpm ore (180 000 tpm Merensky and 50 000 tpm - UG2) Mining methods Conventional mining on the Merensky with jackhammers, scrapers and winches back into ore passes. Hybrid mining on the UG2 with jackhammers, face scrapers and LHDs in the ASDs to mu
Slide 27: Underground Material Flow
Underground Material Flow 27
Slide 28: Mining Battery Limits
Mining Battery Limits Capital Footprint ¥ Sinking Contractor © |. Battery Cs Limit a roma wesizwe
Slide 29: Mining Parameters
Mining Parameters Two tramming levels 60 m below UG2 horizon Tram ore and waste to shaft Trackless tramming with trucks back to shaft ore passes Allow for flexibility to negotiate structures Feed by chute onto belt and into two 20 t skips Underground crushing ore passes into crushed rock
Slide 30: Shaft Infrastructure
Shaft Infrastructure 30
Slide 31: Mining Equipment
Mining Equipment Development Drill rigs, LHDs, trucks, charging vehicles, utility vehicles Merensky Hand held conventional stoping and ore movement methods Pneumatic drills, winches, scrapers and other hand-held equipment UG2 Hand held conventional stoping and scrapers Mechanised ore
Slide 32: Mining Equipment
Mining Equipment Ground Handling Tramming with LHDs and trucks Rock breakers at the tips Underground jaw crushers Services Mechanised multipurpose vehicles and cassette carriers Personnel carriers LDVs Fully equipped underground workshops on UG2 for servicing of all equipment 32
Slide 33: Production Layout
Production Layout Year 39 era wesizwe
Slide 34: Tonnage Profile
Tonnage Profile Total Tonnage Profile 3,500,000 3,000,000 2,500,000 2,000,000 1,500,000 1,000,000 500,000 0 2228882888 8822 822882 2 8 =~ otalUG2 tons Normal Waste dev Tons 2 m@ Shaft Waste dev tons @ Total Merensky tons a A icon wesizwe
Slide 35: Ounce profile
Ounce profile Ramp-up Steady State Production Depletion 400,000 350,000 300,000 250,000 Ounces 200,000 150,000 100,000 50,000 0 2008 2010 2012 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 2034 2036 2038 2040 2042 2044 2046 2048 2050 Mer 3PGE + Au Content (toz) UG2 3PGE + Au Content (toz) 35
Slide 36: Rock Engineering
Rock Engineering Designs carried out using most up to date practices Render a stable rock regime Related overall mine stability Fault movement identified during the seismic survey Influence of fault on stability of shaft studied and modelled by ITASCA Current indications (geotechnical en
Slide 37: Services
Services Potable water supply to all levels from storage tanks on surface Service water supplied to all levels fed off using PRVs no pressure reducing dams because reef flat and few working levels. Pumping Clear water to surface Mud to filter presses Compressed air to all levels Power
Slide 38: Ventilation
Ventilation The Wesizwe ventilation design stipulates the following Downcast shaft: 8,5 m diameter Up-cast shaft: 7,5 m diameter Downcast Raise Bore: 3,5 m diameter (6 years after start of production) Mine divided into mining sections, each forming a primary ventilation district. Ventila
Slide 39: Financial Evaluation
pe ee wesizwe Financial Evaluation
Slide 40: Mining Operating Costs ZAR / ton
Mining Operating Costs ZAR / ton Mining production 193.24 Logistics 2,35 Services 34,43 Management & supervision 21,22 Surface ore transport 0,50 Capitalised operating costs 7,86 Total R 259,60 40
Slide 41: Process Operating Costs ZAR / ton
Process Operating Costs ZAR / ton Processing 52.74 Concentrate transport 1,48 Capital replacement 4,95 SHE & environment 0,74 Miscellaneous 1,09 Total R 61,00 41
Slide 42: CBE Summary
CBE Summary Base date - Oct 2007 WBS Location ZAR m 0 Common surface infrastructure 125,8 100 Shaft surface complex infrastructure 504,5 200 Main shaft sinking and development 1 281,8 300 Vent shaft sinking and development 608,7 400 Concentrator plant 952,8 500 Capital footprint development 630,8 60
Slide 43: CBE Cash-flow - October 2007
CBE Cash-flow - October 2007 43
Slide 44: Plant Recoveries
Plant Recoveries Ore type PGM % Nickel % Copper % Merensky 88,0 68,0 85,0 UG2 78,0 58,0 68,0 44
Slide 45: Metal Consensus Price Forecast - as at December 2007
Metal Consensus Price Forecast - as at December 2007 Base case Medium High Spot Pt $/oz 1 125 1 337 1 550 1 691 Pd $/oz 315 315 315 389 Rh $/oz 4 200 4 600 5 000 7 300 Au $/oz 650 650 650 909 Ni $/ton 20 000 23 500 27 000 34000 Cu $/ton 3 500 3 750 4 000 4 000 45
Slide 46: Evaluation Results - October 2007
Evaluation Results - October 2007 NPV @ 5 % real Financials by Scenario Real IRR Nom IRR ZAR m Tpm Option Case % % 5% x1000 Base Case 230 Early MR & late UG2 18 24 9 489 Medium 230 Early MR & late UG2 21 27 12 419 High 230 Early MR & late UG2 24 30 15 321 Spot (31/01/08) 230 Early MR & late UG2 26 3
Slide 47: Sensitivity Analysis @ 5% Real Discount Rate
Sensitivity Analysis @ 5% Real Discount Rate 47
Slide 48: Finally
Finally The BFS Study has been delivered on time and within budget, as with all other commitments we have made to our shareholder in January 2005. We are a year ahead of schedule and double our project PGM ounce target. The BFS demonstrates not only the attractiveness and viability of the proj
Slide 49: the new name in
the new name in platinum 49 www.wesizwe.com
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