Slide 1: Site Visit - MTR Operations
MINING FOR A FUTURE SITE VISIT - MTR OPERATIONS OTCQX: PAFRF/PAFRY | AIM: PAF | JSE: PAN 31 January 2025
Slide 2: Disclaimer and Forward Looking Statements
DISCLAIMER AND FORWARD LOOKING STATEMENTS 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 i
Slide 3: Health and Safety
oe PAN AFRICAN RESOURCES
Slide 4: Group Safety Performance
HEALTH AND SAFETY HEALTH AND SAFETY GROUP SAFETY PERFORMANCE Significant improvement in the Group’s safety statistics across all operations Fatality-free milestone achieved at MTR • Group TRIFR improved by 18.1% to 6.52 (FY23: 7.96) per million-man hours • 1,8 million fatality-free hours worked duri
Slide 5: Group Overview
oe PAN AFRICAN RESOURCES
Slide 6: Group Overview: Underground and Surface Mining Operations
GROUP OVERVIEW A UNIQUE COMBINATION OF UNDERGROUND AND SURFACE MINING OPERATIONS Historical Au and Cu production Tennant Creek region CURRENT GROUP OPERATIONS TCMG Acquisition of Tenant Consolidated Mining Group (TCMG) : Further near-term, low-cost production growth in FY2026 OTCQX: PAFRF/PAFRY | AI
Slide 7: Moving towards a more balanced mix of operations
GROUP OVERVIEW Moving towards a more balanced mix of low cost surface mining and high-grade, long-life u/g mines 2023 2025 EVANDER ELIKHULU EVANDER ELIKHULU Underground Underground BTRP BARBERTON BARBERTON Underground Underground MTR BTRP Low-cost surface tailings – environmental clean-up and rehabi
Slide 8: Our Operating Environment
GROUP OVERVIEW OUR OPERATING ENVIRONMENT 140 YEAR TRACK RECORD OF OPERATING SUCCESSFULLY IN SOUTH AFRICA ELECTRICITY AND SA REGULATORY SECURITY AND PUBLIC/PRIVATE STAKEHOLDER ENGAGEMENT FRAMEWORK COLLABORATION • National grid power to Group mining sites – • Multi-facetted engagements with all • Incr
Slide 9: Mintails Operating History
MINTAILS OPERATING HISTORY
Slide 10: Mintails Operating History
MINTAILS OPERATING HISTORY TAILINGS RETREATMENT OPERATIONS - MTR MOGALE CLUSTER 2005 2008 2012 2016 • Mintails Mining SA (Mintails) Mintails embarked on a Tailings reclamation Mintails was placed in acquired Mogale Gold from DRD 250kt/month tailings dam operations were restarted, business rescue and
Slide 11: Mogale Tailings Retreatment
MOGALE TAILINGS RETREATMENT
Slide 12: Mogale Tailings Retreatment: Performance by Operation
PERFORMANCE BY OPERATION MOGALE TAILINGS RETREATMENT (MTR) Mogale Gold October 2022 – PAR closed transaction to acquire Mogale Gold and Mintails SA Soweto Cluster TSFs • Acquisition price of ZAR50million (US$2.8 million) • ~ US$ 1.12/Resource oz • Expected to add ~50koz/year over a 13-year LOM, incr
Slide 13: Soweto Cluster PFS
MOGALE TAILINGS RETREATMENT (MTR) Soweto Cluster PFS completed on the Mintails SA Soweto Cluster TSFs • Further upside – potential to increase production to ~60koz/yr over 21-year LOM with plant expansion to treat 1Mtpm from year 6 • Total additional capex of US$113m over 10 years • At US$2,200/oz##
Slide 14: MTR Plant Commissioning in Progress
MOGALE TAILINGS RETREATMENT (MTR) MTR PLANT COMMISSIONING IN PROGRESS PROPOSED PROJECT EXECUTION TIMELINE ACTIVITY ESTIMATED DATE Completion and finalisation of DFS Completed Engineering optimisation activities Completed Detailed engineering optimisation Completed Funding package finalised Jul
Slide 15: Project Milestones and Status
MOGALE TAILINGS RETREATMENT (MTR) Project Team Target (Non-negotiable) Dates Project Milestone Activity DFS Milestone Date Current Status/Progress Completion and finalisation of DFS May 2022 Complete Environmental Approvals January 2023 Complete (June 2023) Project Start date 01 September 2022 Compl
Slide 16: Long-term Low Cost Producer
MOGALE TAILINGS RETREATMENT (MTR) Long-term low cost producer Monthly production costs# Re-mining and deposition 4 975 000 Salaries and wages 8 623 000 Metallurgy 28 734 000 Safety and environmental 2 775 000 Engineering 6 162 000 Electricity 15 131 000 M&R Budgets 585 000 Technical Services 179 000
Slide 17: Socio-economic Development and Environmental Rehabilitation
MOGALE TAILINGS RETREATMENT (MTR) MOGALE SOCIO-ECONOMIC DEVELOPMENT AND ENVIRONMENTAL REHABILITATION History >100 years of underground mining in the West Rand region of the Wits Basin • Production of over 2,000 tons of gold and 240 Mt of low-grade gold-bearing tailings material in numerous TSFs • Un
Slide 18: Building a World Class Surface Tailings Retreatment Business
MOGALE TAILINGS RETREATMENT (MTR) BUILDING A WORLD CLASS SURFACE TAILINGS RETREATMENT BUSINESS Established track record in bringing tailings retreatment projects to account 2013 2015 2018 2023 Operation BTRP ETRP Elikhulu MTR Capacity 100,000tpm/20koz/yr 200,000tpm/10koz/yr 1,2Mtpm/50koz/yr 0,8-1,1M
Slide 19: Cluster TSFs
MOGALE TAILINGS RETREATMENT (MTR) MOGALE CLUSTER TSFs OTCQX: PAFRF/PAFRY | AIM: PAF | JSE: PAN www.panafricanresources.com 19
Slide 20: Mining Sequence for Mogale Cluster
MOGALE TAILINGS RETREATMENT (MTR) Mining Sequence for mogale cluster The following sequence was used in the D FS mine schedule, based on tonnes available, surface areas required for future deposition and recovered grade 2 6 1. 1L23-25 is mined from year 1 to year 8 – 59Mt 2. North Sands is hauled fr
Slide 21: Remining Operations
MOGALE TAILINGS RETREATMENT (MTR) Remining operations 1L23-25 IN DAM AND SUMP OTCQX: PAFRF/PAFRY | AIM: PAF | JSE: PAN www.panafricanresources.com 21
Slide 22: 1L23-25 Main Pump Station
MOGALE TAILINGS RETREATMENT (MTR) IL23-25 Main pump Station OTCQX: PAFRF/PAFRY | AIM: PAF | JSE: PAN www.panafricanresources.com 22
Slide 23: Process Overview
MOGALE TAILINGS RETREATMENT (MTR) Process overview – based on Elikhulu Volume Processed Gold cyanidation • 800 000 tpm Parameters Carbon adsorption • 1.45 t/m3 • 200-300 ppm • Head Grade 0.25-0.30 g/t • 14 g/l • 0.300 kg/t • UG losses 0.15 g/t • Inventory 300t • Recovery 42-55% • DG losses 0.001 ppm
Slide 24: Processing Plant Model
MOGALE TAILINGS RETREATMENT (MTR) Processing Plant model OTCQX: PAFRF/PAFRY | AIM: PAF | JSE: PAN www.panafricanresources.com 25
Slide 25: Processing Plant
MOGALE TAILINGS RETREATMENT (MTR) Processing Plant OTCQX: PAFRF/PAFRY | AIM: PAF | JSE: PAN www.panafricanresources.com 26
Slide 26: Tailings Deposition
MOGALE TAILINGS RETREATMENT (MTR) Tailings Deposition 1 3 2 1 2 4 • For the first five years of operation, deposition will take place on the West Wits TSF whilst mining TSF 1L23-25 footprint • Thereafter it will be split into various sites once TSF 1L23-25 footprint has been remined OTCQX: PAFRF/PAF
Slide 27: PAR's Road to GISTM
MOGALE TAILINGS RETREATMENT (MTR) PAR’s road to GISTM – Experience developed at Elikhulu’s modern tailings facility • PAR has engaged in an intensive process of evaluating the safety, stability and other relevant issues around our TS Fs since 2019 • Specific activities engaged include: • Contractor
Slide 28: Thank you
T h a n k yo u Contact: Hethen Hira, Head of investor relations Email: Hhira@paf.co.za www.panafricanresources.com OTCQX: PAFRF/PAFRY | AIM: PAF | JSE: PAN www.panafricanresources.com