Mineral Resources and Mineral Reserves
Marula

Notes

• The statement reflects total estimates for Marula as at 30 June 2014; corresponding estimated attributable mineral resources and reserves are summarised elsewhere in this report
• Mineral resources are quoted inclusive of mineral reserves
• Mineral reserves quoted now reflect the stoping width, and not a total mine width as reported in previous years
• Mineral reserves quoted reflect the grade delivered to the mill rather than the in situ channel grade quoted in respect of the mineral resources
• The modifying factors used in the UG2 mineral reserve calculation are based on the mine plan which envisages hybrid and conventional breast mining operations
• Estimated geological losses have been accounted for in the mineral resource calculation
• The UG2 mineral resource accounts for the main chromitite layer channel width only, without consideration of dilution. A separate table is included this year to reflect the comparative minimum mining width resource cut. Notably this shows a lower grade but with similar metal content
• Grade estimates were obtained by means of ordinary kriging of borehole intersections
• No additional work was done on the Merensky mineral resource estimation during the year and the same statement is reported as in the previous three years
• Changes in the UG2 mineral resource estimates since last year reflect an updated estimation using limited additional data and some adjustment of extraction rates
• The mineral resources and mineral reserves are reflected in both 4E and 6E formats
• Rounding of numbers may result in minor computational discrepancies. Mineral resource estimates are inherently imprecise in nature and the results tabulated in this report must be read as estimates and not as calculations; inferred mineral resources in particular are qualified as approximations
• The average nickel and copper grades based on exploration samples are 0.202% Ni and 0.115% Cu for the Merensky Reef channel.