Quarterly Report For Period Ended 31 March 2010
2010年4月30日 - 5:03PM
ＲＮＳを含む英国規制内ニュース （英語）
TIDMPLAA
RNS Number : 1065L
Platinum Australia Limited
30 April 2010
3rd Floor, 18 Richardson Street, West Perth
PO Box 1083, West Perth
Western Australia 6005
Western Australia
6872
Telephone: (08) 9324 1491
Email:mail@platinumaus.com.au
Facsimile: (08) 9226 4259
Website: www.platinumaus.com.au
30 April 2010
QUARTERLY REPORT FOR THE PERIOD
ENDED 31st MARCH 2010
OPERATIONS
SMOKEY HILLS
Mining
The ramp up of underground mine production was adversely affected by a number of
factors during the quarter; industrial action by the employees of the mining
contractor, numerous power interruptions and the continuing impact of the pot
hole between adits 4 and 5. The combined affect of these factors saw underground
production drop to 72,238 tonnes for the quarter compared with 160,000 tonnes in
the previous quarter.
The unprotected industrial action by the employees of the mining contractor
resulted in over one full week of production being lost and a further week at
approximately 50% production levels as the process of reinstating dismissed
employees was concluded. Approximately 10% of the mining contractor's employees
were not reinstated and this affected production for the balance of the month
of March as recruitment of replacement workers was undertaken. It is anticipated
that the contract workforce will be at full compliment by the end of April.
The implementation of changes to the mine design to compensate for the affects
of the pot hole are expected to be completed during the June Quarter, allowing
design production from underground to be achieved during the following quarter.
Processing
The ramp up of the plant throughput was hindered by the lack of production from
underground, with 101,212 tonnes milled for the quarter. Recoveries increased
from 58% in the December quarter to over 81% in the current quarter as a result
of the majority of ore treated coming from underground production with the
balance of less than 10% coming from open pit stockpiles.
The head grade was lower than the previous quarter at 3.13 g/t 4E due to the
higher percentage of underground development ore treated during the quarter. The
decreased throughput and head grade was only partially offset by the increase in
recovery, resulting in production dropping to 8,300 ozs 4E PGM
Safety
There were two lost time injury during the quarter. The current Lost Time
Incident Frequency Rate ("LTIFR") is now 3.28 (Based on 1,000,000 man hours
worked - 12 month average).
Production Statistics
+----------------+-----------+--------------------------+--------------------------+
| | | December | March |
| | | Quarter | Quarter |
+----------------+-----------+--------------------------+--------------------------+
| Tonnes Milled | tonnes | 160,623 | 101,212 |
+----------------+-----------+--------------------------+--------------------------+
| Head Grade | g/t 4E | 3.48 | 3.13 |
+----------------+-----------+--------------------------+--------------------------+
| Recovery | % | 57.50 | 81.46 |
+----------------+-----------+--------------------------+--------------------------+
| 4E PGM | ozs | 10,318 | 8,300 |
+----------------+-----------+--------------------------+--------------------------+
| Cash Costs | ZAR/tonne | 397 | 633 |
+----------------+-----------+--------------------------+--------------------------+
KALAHARI PLATINUM PROJECT
Work on the DFS progressed during the quarter. Completion of the study awaits
information from third parties on the power and water supply. It is anticipated
this will be received in the June Quarter, allowing the DFS to be completed.
ROODERAND PROJECT
PLA currently has four drill rigs working on the property. The results from the
drilling program received during the quarter are provided in Table 1 below.
These confirm our early interpretation that the project area contains
substantial UG2, Merensky and Psuedo/Tarentaal Reef mineralisation from surface,
consistent with known deposits adjacent to Rooderand.
STELLEX NORTH PROJECT
An aeromagnetic survey was completed on the project during the quarter and the
results from this are expected in the June quarter. An extended soil geochemical
survey is currently underway.
Table 1 Rooderand Project Drilling Results
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| Hole |Easting |Northing | Reef | From | To |Width | 4E | Au | Pt | Pd | Rh | Cu | Ni |
| ID | | | | | | | | | | | | | |
+ + + + +--------+--------+-------+--------+------+-------+------+------+------+------+
| | | | | (m) | (m) | (m) | ppm | ppm | ppm | ppm | ppm | ppm | ppm |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
|BPR002 | 1398 |-2780086 | Merensky | 190.01 | 190.64 | 0.63 | 0.69 | 0.11 | 0.34 | 0.22 | 0.02 | 681 | 1277 |
| | | | HW | | | | | | | | | | |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| -80 | | | Merensky | 196.95 | 197.21 | 0.26 | 1.30 | 0.15 | 0.77 | 0.36 | 0.03 | 659 | 1300 |
| | | | HW | | | | | | | | | | |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| 330o | | | Merensky | 197.21 | 197.38 | 0.17 | 18.63 | 0.35 | 13.34 | 3.76 | 1.18 | 1638 | 2380 |
| TN | | | | | | | | | | | | | |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| | | | Merensky | 203.22 | 203.67 | 0.45 | 0.82 | 0.09 | 0.47 | 0.23 | 0.03 | 424 | 1116 |
| | | | FW | | | | | | | | | | |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| | | | Upper | 209.90 | 210.29 | 0.39 | 7.89 | 0.17 | 4.97 | 2.37 | 0.38 | 587 | 1901 |
| | | | Pseudo | | | | | | | | | | |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| | | | Tarentaal | 214.04 | 214.30 | 0.26 | 1.72 | 0.10 | 0.99 | 0.54 | 0.09 | 203 | 2404 |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| | | | Upper | 214.30 | 214.50 | 0.20 | 5.12 | 0.22 | 3.14 | 1.51 | 0.25 | 608 | 2358 |
| | | | Pseudo | | | | | | | | | | |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| | | | Lower | 214.50 | 214.90 | 0.40 | 2.04 | 0.13 | 1.08 | 0.77 | 0.07 | 296 | 1784 |
| | | | Pseudo | | | | | | | | | | |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| | | | UG2 | 224.15 | 225.00 | 0.85 | 4.92 | 0.02 | 3.08 | 1.24 | 0.57 | 10 | 1288 |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| | | | UG2 FW | 225.00 | 225.42 | 0.42 | 5.88 | 0.03 | 3.86 | 1.28 | 0.71 | 163 | 1035 |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| | | | | | | | | | | | | | |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
|BPR003 | 1179 |-2778947 | Upper | 28.47 | 28.74 | 0.27 | 18.52 | 0.68 | 12.34 | 4.64 | 0.86 | 1350 | 3697 |
| | | | Pseudo | | | | | | | | | | |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| -80 | | | Tarentaal | 28.74 | 31.74 | 3.00 | 1.90 | 0.07 | 1.18 | 0.56 | 0.09 | 306 | 1888 |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| 225o | | | Tarentaal | 33.94 | 36.94 | 3.00 | 7.74 | 0.31 | 4.86 | 2.23 | 0.34 | 1159 | 3611 |
| TN | | | | | | | | | | | | | |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| | | | Lower | 36.94 | 37.98 | 1.04 | 9.25 | 0.38 | 5.64 | 2.87 | 0.35 | 919 | 2159 |
| | | | Pseudo | | | | | | | | | | |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| | | | UG2 HW | 37.98 | 38.18 | 0.20 | 2.02 | 0.09 | 1.27 | 0.58 | 0.07 | 278 | 891 |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| | | | UG2 | 46.88 | 48.12 | 1.24 | 5.38 | 0.02 | 3.40 | 1.35 | 0.61 | 14 | 1361 |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| | | | UG2 FW | 48.52 | 48.92 | 0.40 | 1.32 | 0.01 | 0.85 | 0.36 | 0.10 | 90 | 855 |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| | | | | | | | | | | | | | |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
|BPR004 | 1289 |-2779291 | Merensky | 18.77 | 19.77 | 1.00 | 1.31 | 0.17 | 0.67 | 0.43 | 0.04 | 1140 | 1867 |
| | | | HW | | | | | | | | | | |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| -80 | | | Merensky | 34.21 | 34.75 | 0.54 | 1.38 | 0.20 | 0.72 | 0.41 | 0.05 | 1275 | 2427 |
| | | | HW | | | | | | | | | | |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| 225o | | | Merensky | 36.10 | 39.00 | 2.90 | 3.96 | 0.17 | 2.36 | 1.27 | 0.17 | 535 | 947 |
| TN | | | HW | | | | | | | | | | |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| | | | Tarentaal | 50.06 | 50.43 | 0.37 | 1.18 | 0.09 | 0.69 | 0.34 | 0.06 | 323 | 2257 |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| | | | Lower | 50.43 | 51.23 | 0.80 | 2.32 | 0.12 | 1.31 | 0.76 | 0.12 | 402 | 1903 |
| | | | Pseudo | | | | | | | | | | |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| | | | UG2 FW | 51.23 | 51.43 | 0.20 | 1.74 | 0.10 | 0.88 | 0.73 | 0.04 | 210 | 928 |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| | | | UG2 | 60.77 | 62.02 | 1.25 | 1.94 | 0.00 | 1.24 | 0.44 | 0.26 | 18 | 1287 |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| | | | UG2 FW | 62.02 | 62.62 | 0.60 | 3.73 | 0.02 | 2.42 | 1.01 | 0.28 | 222 | 576 |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| | | | | | | | | | | | | | |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
|BPR006 | 1016 |-2779036 | Merensky | 14.45 | 15.15 | 0.70 | 3.52 | 0.14 | 2.05 | 1.17 | 0.16 | 357 | 674 |
| | | | FW | | | | | | | | | | |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| -80 | | | Tarentaal | 27.18 | 27.62 | 0.44 | 1.79 | 0.06 | 0.62 | 1.03 | 0.07 | 232 | 2200 |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| 225o | | | Tarentaal | 30.48 | 30.70 | 0.22 | 1.36 | 0.01 | 0.98 | 0.28 | 0.10 | 12 | 1699 |
| TN | | | | | | | | | | | | | |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| | | | Lower | 30.70 | 31.30 | 0.60 | 3.49 | 0.05 | 2.27 | 1.02 | 0.15 | 78 | 1269 |
| | | | Pseudo | | | | | | | | | | |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| | | | UG2 | 40.08 | 41.02 | 0.94 | 3.14 | 0.01 | 2.02 | 0.68 | 0.43 | 10 | 1345 |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| | | | UG2 FW | 41.02 | 41.22 | 0.20 | 0.61 | 0.01 | 0.32 | 0.21 | 0.09 | 10 | 667 |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| | | | UG2 FW | 42.36 | 42.56 | 0.20 | 3.44 | 0.01 | 2.42 | 0.71 | 0.31 | 44 | 861 |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| | | | | | | | | | | | | | |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
|BPR008 | 1156 |-2779168 | Merensky | 20.43 | 20.68 | 0.25 | 0.86 | 0.11 | 0.45 | 0.26 | 0.03 | 670 | 1527 |
| | | | HW | | | | | | | | | | |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| -80 | | | Cont | 20.68 | 20.93 | 0.25 | 11.20 | 0.45 | 7.39 | 2.63 | 0.73 | 1868 | 3863 |
| | | | Merensky | | | | | | | | | | |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| 225o | | | Merenskyf | 20.93 | 21.13 | 0.20 | 0.70 | 0.02 | 0.51 | 0.15 | 0.02 | 36 | 98 |
| TN | | | FW | | | | | | | | | | |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| | | | Upper | 33.91 | 34.14 | 0.23 | 3.14 | 0.13 | 1.72 | 1.13 | 0.17 | 532 | 1826 |
| | | | Pseudo | | | | | | | | | | |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| | | | Tarentaal | 39.62 | 40.20 | 0.58 | 3.25 | 0.17 | 2.00 | 0.89 | 0.18 | 459 | 1915 |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| | | | Lower | 40.20 | 40.50 | 0.30 | 1.73 | 0.07 | 0.92 | 0.69 | 0.05 | 343 | 1481 |
| | | | Pseudo | | | | | | | | | | |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| | | | UG2 | 50.02 | 51.07 | 1.05 | 4.35 | 0.01 | 2.80 | 0.95 | 0.59 | 8 | 1134 |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| | | | UG2 FW | 51.07 | 52.67 | 1.60 | 0.61 | 0.00 | 0.41 | 0.13 | 0.07 | 16 | 614 |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| | | | UG2 FW | 54.77 | 54.97 | 0.20 | 1.63 | 0.01 | 1.34 | 0.10 | 0.20 | 10 | 722 |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| Hole |Easting |Northing | Reef | From | To |Width | 4E | Au | Pt | Pd | Rh | Cu | Ni |
| ID | | | | | | | | | | | | | |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| | | | | (m) | (m) | (m) | ppm | ppm | ppm | ppm | ppm | ppm | ppm |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
|BPR014 | 1359 |-2779640 | Merensky | 182.93 | 185.94 | 3.01 | 1.80 | 0.26 | 0.75 | 0.74 | 0.05 | 838 | 1448 |
| | | | HW | | | | | | | | | | |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| -80 | | | Tarentaal | 190.15 | 191.16 | 1.01 | 0.58 | 0.03 | 0.38 | 0.16 | 0.02 | 113 | 1635 |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| 225o | | | Tarentaal | 192.16 | 193.12 | 0.96 | 4.09 | 0.23 | 2.47 | 1.19 | 0.20 | 608 | 2284 |
| TN | | | | | | | | | | | | | |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| | | | Lower | 193.12 | 194.11 | 0.99 | 1.19 | 0.13 | 0.66 | 0.35 | 0.05 | 355 | 1457 |
| | | | Pseudo | | | | | | | | | | |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| | | | UG2 L1 | 204.75 | 204.98 | 0.23 | 3.32 | 0.01 | 2.21 | 0.68 | 0.42 | 10 | 1263 |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| | | | UG2 | 204.98 | 205.71 | 0.73 | 4.54 | 0.01 | 2.46 | 1.51 | 0.56 | 10 | 1140 |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| | | | UG2 FW | 205.71 | 206.76 | 1.05 | 1.28 | 0.01 | 0.77 | 0.33 | 0.17 | 508 | 803 |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| | | | UG1 | 206.76 | 207.69 | 0.93 | 0.75 | 0.00 | 0.60 | 0.06 | 0.09 | 22 | 584 |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| | | | | | | | | | | | | | |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
|BPR016 | 1010 |-2779247 | Cont | 10.58 | 10.90 | 0.32 | 3.28 | 0.32 | 2.23 | 0.61 | 0.13 | 704 | 2122 |
| | | | Merensky | | | | | | | | | | |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| -80 | | | Merensky | 10.90 | 16.90 | 6.00 | 5.79 | 0.51 | 3.39 | 1.77 | 0.12 | 932 | 1632 |
| | | | FW | | | | | | | | | | |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| 225o | | | Merensky | 25.33 | 25.77 | 0.44 | 1.38 | 0.05 | 0.64 | 0.61 | 0.06 | 123 | 1014 |
| TN | | | FW | | | | | | | | | | |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| | | | Upper | 25.77 | 26.68 | 0.91 | 0.75 | 0.02 | 0.39 | 0.28 | 0.06 | 79 | 958 |
| | | | Pseudo | | | | | | | | | | |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| | | | Tarentaal | 30.66 | 31.49 | 0.83 | 1.02 | 0.10 | 0.58 | 0.29 | 0.06 | 457 | 1834 |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| | | | UG2 L1 | 42.21 | 42.43 | 0.22 | 2.84 | 0.01 | 1.86 | 0.60 | 0.37 | 10 | 1270 |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| | | | UG2 | 42.43 | 43.35 | 0.92 | 6.16 | 0.01 | 3.63 | 1.66 | 0.85 | 10 | 1378 |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| | | | UG2 FW | 43.35 | 44.35 | 1.00 | 0.75 | 0.00 | 0.48 | 0.19 | 0.09 | 10 | 606 |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| | | | | | | | | | | | | | |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
|BPR017 | 1185 |-2779347 | Cont | 24.98 | 25.48 | 0.50 | 2.09 | 0.17 | 1.21 | 0.56 | 0.15 | 881 | 1758 |
| | | | Merensky | | | | | | | | | | |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| -70 | | | Merensky | 34.06 | 36.06 | 2.00 | 4.19 | 0.18 | 2.50 | 1.29 | 0.23 | 416 | 701 |
| | | | FW | | | | | | | | | | |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| 225o | | | Upper | 36.06 | 36.42 | 0.36 | 3.77 | 0.13 | 2.27 | 1.12 | 0.26 | 474 | 1650 |
| TN | | | Pseudo | | | | | | | | | | |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| | | | Tarentaal | 41.46 | 42.19 | 0.73 | 0.60 | 0.05 | 0.37 | 0.16 | 0.02 | 139 | 1687 |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| | | | Lower | 42.19 | 42.98 | 0.79 | 1.04 | 0.08 | 0.59 | 0.33 | 0.05 | 150 | 1480 |
| | | | Pseudo | | | | | | | | | | |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| | | | UG2 HW | 52.34 | 52.54 | 0.20 | 13.86 | 0.58 | 7.16 | 5.62 | 0.50 | 1541 | 3266 |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| | | | UG2 L1 | 52.54 | 52.75 | 0.21 | 2.77 | 0.02 | 1.83 | 0.56 | 0.35 | 10 | 1255 |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| | | | UG2 | 52.75 | 53.82 | 1.07 | 6.36 | 0.01 | 3.95 | 1.60 | 0.80 | 10 | 1374 |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| | | | | | | | | | | | | | |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
|BPR020 | 907 |-2780660 | Merensky |154.79 |155.79 | 1.00 | 0.63 |0.09 | 0.36 |0.16 |0.02 | 335 |1035 |
| | | | HW | | | | | | | | | | |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| -80 | | | Merensky |155.79 |156.44 | 0.65 | 7.36 |0.50 | 4.47 |2.09 |0.31 | 897 |2104 |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
|225 TN | | | Merensky |156.44 |160.45 | 4.01 | 5.15 |0.39 | 2.97 |1.66 |0.12 | 799 |1485 |
| | | | FW | | | | | | | | | | |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| | | | Upper |169.89 |170.15 | 0.26 | 3.06 |0.14 | 1.77 |0.98 |0.17 | 475 |1659 |
| | | | Pseudo | | | | | | | | | | |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| | | | Tarentaal |174.15 |174.60 | 0.45 | 0.52 |0.01 | 0.37 |0.11 |0.03 | 74 |1118 |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| | | | Tarentaal |175.38 |176.27 | 0.89 | 2.84 |0.18 | 1.65 |0.91 |0.10 | 311 |1627 |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| | | | UG2 HW |176.27 |177.27 | 1.00 | 0.88 |0.02 | 0.51 |0.32 |0.02 | 53 | 645 |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| | | | UG2 HW |182.45 |182.84 | 0.39 | 0.81 |0.01 | 0.60 |0.16 |0.05 | 49 | 833 |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| | | | UG2 L1 |183.84 |184.10 | 0.26 | 3.3 |0.03 | 2.15 |0.74 |0.38 | 60 |1218 |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| | | | UG2 |184.10 |185.20 | 1.10 | 7.26 |0.06 | 3.87 |2.54 |0.79 | 21 |1392 |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| | | | UG2 FW |185.20 |186.20 | 1.00 | 0.66 |0.00 | 0.45 |0.15 |0.06 | 29 | 760 |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
| | | | | | | | | | | | | | |
+--------+---------+----------+-----------+--------+--------+-------+--------+------+-------+------+------+------+------+
+--------+---------+----------+------------+--------+--------+-------+--------+------+------+------+------+------+------+
| Hole |Easting |Northing | Reef | From | To |Width | 4E | Au | Pt | Pd | Rh | Cu | Ni |
| ID | | | | | | | | | | | | | |
+ + + + +--------+--------+-------+--------+------+------+------+------+------+------+
| | | | | (m) | (m) | (m) | ppm | ppm | ppm | ppm | ppm | ppm | ppm |
+--------+---------+----------+------------+--------+--------+-------+--------+------+------+------+------+------+------+
|BPR021 | 901 |-2780376 | Merensky | 143.09 | 143.82 | 0.73 | 0.60 | 0.04 | 0.30 | 0.24 | 0.02 | 385 | 1085 |
| | | | FW | | | | | | | | | | |
+--------+---------+----------+------------+--------+--------+-------+--------+------+------+------+------+------+------+
| -80 | | | Merensky | 145.67 | 146.71 | 1.04 | 8.24 | 0.37 | 4.55 | 3.13 | 0.19 | 1260 | 3072 |
| | | | FW | | | | | | | | | | |
+--------+---------+----------+------------+--------+--------+-------+--------+------+------+------+------+------+------+
| 225o | | | Tarentaal | 146.71 | 148.73 | 2.02 | 7.66 | 0.29 | 3.91 | 3.25 | 0.21 | 675 | 1742 |
| TN | | | | | | | | | | | | | |
+--------+---------+----------+------------+--------+--------+-------+--------+------+------+------+------+------+------+
| | | | UG2 HW | 152.14 | 153.14 | 1.00 | 1.35 | 0.04 | 0.86 | 0.37 | 0.08 | 261 | 1133 |
+--------+---------+----------+------------+--------+--------+-------+--------+------+------+------+------+------+------+
| | | | UG2 L1 | 154.14 | 155.00 | 0.86 | 4.74 | 0.03 | 3.05 | 1.08 | 0.59 | 10 | 1188 |
+--------+---------+----------+------------+--------+--------+-------+--------+------+------+------+------+------+------+
| | | | UG2 | 155.00 | 155.61 | 0.61 | 4.05 | 0.01 | 2.57 | 0.90 | 0.58 | 10 | 1161 |
+--------+---------+----------+------------+--------+--------+-------+--------+------+------+------+------+------+------+
| | | | UG2 FW | 155.61 | 157.48 | 1.87 | 1.84 | 0.00 | 1.16 | 0.41 | 0.26 | 10 | 754 |
+--------+---------+----------+------------+--------+--------+-------+--------+------+------+------+------+------+------+
| | | | | | | | | | | | | | |
+--------+---------+----------+------------+--------+--------+-------+--------+------+------+------+------+------+------+
|BPR022 | 1031 |-2779433 | Merensky | 25.51 | 26.51 | 1.00 | 1.43 |0.07 |0.93 |0.37 |0.07 | 229 | 797 |
| | | | HW | | | | | | | | | | |
+--------+---------+----------+------------+--------+--------+-------+--------+------+------+------+------+------+------+
| -80 | | | Merensky | 26.51 | 26.80 | 0.29 | 0.72 |0.11 |0.38 |0.20 |0.02 | 488 |1040 |
+--------+---------+----------+------------+--------+--------+-------+--------+------+------+------+------+------+------+
|225 TN | | | Upper | 34.21 | 34.50 | 0.29 | 3.86 |0.19 |2.21 |1.27 |0.20 | 492 |1708 |
| | | | Pseudo | | | | | | | | | | |
+--------+---------+----------+------------+--------+--------+-------+--------+------+------+------+------+------+------+
| | | | Tarentaal | 39.47 | 40.48 | 1.01 | 0.62 |0.03 |0.35 |0.20 |0.04 | 26 |1597 |
+--------+---------+----------+------------+--------+--------+-------+--------+------+------+------+------+------+------+
| | | | Lower | 40.48 | 41.22 | 0.74 | 1.45 |0.08 |0.90 |0.40 |0.07 | 140 |1404 |
| | | | Pseudo | | | | | | | | | | |
+--------+---------+----------+------------+--------+--------+-------+--------+------+------+------+------+------+------+
| | | | UG2 L1 | 50.98 | 51.18 | 0.20 | 3.53 |0.01 |2.32 |0.80 |0.40 | 10 |1231 |
+--------+---------+----------+------------+--------+--------+-------+--------+------+------+------+------+------+------+
| | | | UG2 | 51.18 | 52.07 | 0.89 | 5.43 |0.01 |3.48 |1.24 |0.71 | 10 |1319 |
+--------+---------+----------+------------+--------+--------+-------+--------+------+------+------+------+------+------+
| | | | UG2 FW | 52.07 | 52.80 | 0.73 | 0.81 |0.00 |0.60 |0.14 |0.06 | 33 | 797 |
+--------+---------+----------+------------+--------+--------+-------+--------+------+------+------+------+------+------+
| | | | | | | | | | | | | | |
+--------+---------+----------+------------+--------+--------+-------+--------+------+------+------+------+------+------+
|BPR025 | 1013 |-2779154 | Merensky | 19.63 | 19.87 | 0.24 | 2.36 |0.29 |1.26 |0.75 |0.07 |1201 |2521 |
+--------+---------+----------+------------+--------+--------+-------+--------+------+------+------+------+------+------+
| -80 | | | MerenskyFW | 19.87 | 22.73 | 2.86 | 1.05 |0.06 |0.64 |0.31 |0.04 | 179 | 301 |
+--------+---------+----------+------------+--------+--------+-------+--------+------+------+------+------+------+------+
|225 TN | | | Tarentaal | 27.27 | 28.02 | 0.75 | 0.77 |0.01 |0.48 |0.21 |0.07 | 2 |1651 |
+--------+---------+----------+------------+--------+--------+-------+--------+------+------+------+------+------+------+
| | | | Tarentaal | 31.02 | 31.61 | 0.59 | 0.71 |0.04 |0.41 |0.22 |0.04 | 55 |1705 |
+--------+---------+----------+------------+--------+--------+-------+--------+------+------+------+------+------+------+
| | | | Lower | 31.61 | 32.02 | 0.41 | 5.73 |0.55 |3.28 |1.68 |0.22 | 472 |1559 |
| | | | Pseudo | | | | | | | | | | |
+--------+---------+----------+------------+--------+--------+-------+--------+------+------+------+------+------+------+
| | | | UG2 HW | 32.02 | 32.85 | 0.83 | 0.78 |0.04 |0.46 |0.26 |0.02 | 63 | 728 |
+--------+---------+----------+------------+--------+--------+-------+--------+------+------+------+------+------+------+
| | | | UG2 HW | 40.72 | 41.72 | 1.00 | 0.64 |0.00 |0.43 |0.17 |0.04 | 35 | 668 |
+--------+---------+----------+------------+--------+--------+-------+--------+------+------+------+------+------+------+
| | | | UG2 L1 | 42.72 | 42.92 | 0.20 | 3.89 |0.09 |2.11 |1.34 |0.35 | 50 |1136 |
+--------+---------+----------+------------+--------+--------+-------+--------+------+------+------+------+------+------+
| | | | UG2 | 42.92 | 43.86 | 0.94 | 6.15 |0.06 |3.79 |1.57 |0.74 | 26 |1262 |
+--------+---------+----------+------------+--------+--------+-------+--------+------+------+------+------+------+------+
| | | | UG2 FW | 44.86 | 45.43 | 0.57 | 0.94 |0.01 |0.69 |0.20 |0.05 | 28 | 725 |
+--------+---------+----------+------------+--------+--------+-------+--------+------+------+------+------+------+------+
| | | | | | | | | | | | | | |
+--------+---------+----------+------------+--------+--------+-------+--------+------+------+------+------+------+------+
|BPR027 | 923 |-2779685 | Merensky | 50.32 | 50.56 | 0.24 | 9.53 |0.87 |5.96 |2.37 |0.33 |1693 |2940 |
+--------+---------+----------+------------+--------+--------+-------+--------+------+------+------+------+------+------+
| -80 | | | Merensky | 53.20 | 56.88 | 3.68 | 5.01 |0.37 |3.03 |1.50 |0.11 | 759 |1403 |
| | | | FW | | | | | | | | | | |
+--------+---------+----------+------------+--------+--------+-------+--------+------+------+------+------+------+------+
|225 TN | | | Merensky | 61.54 | 61.80 | 0.26 | 2.16 |0.18 |1.01 |0.92 |0.05 | 493 | 835 |
| | | | FW | | | | | | | | | | |
+--------+---------+----------+------------+--------+--------+-------+--------+------+------+------+------+------+------+
| | | | Upper | 63.02 | 63.27 | 0.25 | 5.32 |0.24 |2.52 |2.27 |0.30 | 821 |2364 |
| | | | Pseudo | | | | | | | | | | |
+--------+---------+----------+------------+--------+--------+-------+--------+------+------+------+------+------+------+
| | | | Tarentaal | 67.05 | 68.05 | 1.00 | 1.27 |0.12 |0.72 |0.38 |0.06 | 75 |1884 |
+--------+---------+----------+------------+--------+--------+-------+--------+------+------+------+------+------+------+
| | | | Lower | 68.05 | 68.70 | 0.65 | 1.4 |0.09 |0.80 |0.44 |0.07 | 136 |1636 |
| | | | Pseudo | | | | | | | | | | |
+--------+---------+----------+------------+--------+--------+-------+--------+------+------+------+------+------+------+
| | | | Tarentaal | 68.70 | 69.15 | 0.45 | 1.08 |0.14 |0.59 |0.33 |0.03 | 115 |1600 |
+--------+---------+----------+------------+--------+--------+-------+--------+------+------+------+------+------+------+
| | | | UG2 HW | 69.15 | 70.16 | 1.01 | 0.52 |0.04 |0.33 |0.14 |0.02 | 117 | 698 |
+--------+---------+----------+------------+--------+--------+-------+--------+------+------+------+------+------+------+
| | | | UG2 L1 | 79.05 | 79.25 | 0.20 | 3.08 |0.01 |1.92 |0.78 |0.37 | 31 |1270 |
+--------+---------+----------+------------+--------+--------+-------+--------+------+------+------+------+------+------+
| | | | UG2 | 79.25 | 80.36 | 1.11 | 5.45 |0.01 |3.23 |1.55 |0.65 | 49 |1309 |
+--------+---------+----------+------------+--------+--------+-------+--------+------+------+------+------+------+------+
| | | | UG2 FW | 80.36 | 81.21 | 0.85 | 1.61 |0.00 |0.97 |0.39 |0.26 | 49 | 673 |
+--------+---------+----------+------------+--------+--------+-------+--------+------+------+------+------+------+------+
| | | | | | | | | | | | | | |
+--------+---------+----------+------------+--------+--------+-------+--------+------+------+------+------+------+------+
·
+---------+---------+----------+------------------+--------+--------+-------+-------+------+-------+------+------+------+------+
|Hole ID |Easting |Northing | Reef | From | To |Width | 4E | Au | Pt | Pd | Rh | Cu | Ni |
+---------+---------+----------+------------------+--------+--------+-------+-------+------+-------+------+------+------+------+
| | | | | (m) | (m) | (m) | ppm | ppm | ppm | ppm | ppm | ppm | ppm |
+---------+---------+----------+------------------+--------+--------+-------+-------+------+-------+------+------+------+------+
| BPR029 | 899 |-2780947 | Merensky HW |171.11 |172.11 | 1.00 | 2.19 |0.21 | 1.17 |0.73 |0.08 |1364 |2331 |
+---------+---------+----------+------------------+--------+--------+-------+-------+------+-------+------+------+------+------+
| -80 | | | MPEG |183.45 |184.80 | 1.35 | 0.64 |0.13 | 0.25 |0.24 |0.02 |1104 |1441 |
+---------+---------+----------+------------------+--------+--------+-------+-------+------+-------+------+------+------+------+
| 225 TN | | | Merensky HW |189.51 |190.84 | 1.33 |14.78 |0.23 |11.14 |2.90 |0.50 |1623 |3346 |
+---------+---------+----------+------------------+--------+--------+-------+-------+------+-------+------+------+------+------+
| | | | Merensky FW |190.84 | 191.50 | 0.66 | 1.43 |0.06 | 0.93 |0.41 |0.03 | 156 | 268 |
+---------+---------+----------+------------------+--------+--------+-------+-------+------+-------+------+------+------+------+
| | | | Merensky FW |194.62 |195.62 | 1.00 | 0.96 |0.06 | 0.55 |0.31 |0.05 | 226 | 378 |
+---------+---------+----------+------------------+--------+--------+-------+-------+------+-------+------+------+------+------+
| | | | Upper Pseudo |195.62 |195.75 | 0.13 | 7.03 |0.22 | 3.45 |2.83 |0.53 | 763 |3031 |
+---------+---------+----------+------------------+--------+--------+-------+-------+------+-------+------+------+------+------+
| | | | Tarentaal |196.95 |197.50 | 0.55 | 1.89 |0.13 | 1.16 |0.52 |0.08 | 232 |2059 |
+---------+---------+----------+------------------+--------+--------+-------+-------+------+-------+------+------+------+------+
| | | | Lower Pseudo |199.90 |200.85 | 0.95 | 0.86 |0.04 | 0.51 |0.28 |0.03 | 78 |1415 |
+---------+---------+----------+------------------+--------+--------+-------+-------+------+-------+------+------+------+------+
| | | | UG2 L1 |212.61 |212.87 | 0.26 | 5.11 |0.01 | 3.24 |1.25 |0.62 | 31 |1218 |
+---------+---------+----------+------------------+--------+--------+-------+-------+------+-------+------+------+------+------+
| | | | UG2 |212.87 |213.98 | 1.11 | 3.2 |0.01 | 2.13 |0.70 |0.37 | 53 |1170 |
+---------+---------+----------+------------------+--------+--------+-------+-------+------+-------+------+------+------+------+
| | | | | | | | | | | | | | |
+---------+---------+----------+------------------+--------+--------+-------+-------+------+-------+------+------+------+------+
| BPR030 | 900 |-2781245 | Bastard |128.78 |128.97 | 0.19 | 0.58 |0.12 | 0.25 |0.19 |0.02 | 850 |1977 |
+---------+---------+----------+------------------+--------+--------+-------+-------+------+-------+------+------+------+------+
| -80 | | | Merensky Reef HW |147.03 |147.75 | 0.72 |19.99 |0.48 |12.93 |5.60 |0.98 |2820 |4405 |
+---------+---------+----------+------------------+--------+--------+-------+-------+------+-------+------+------+------+------+
| 225 TN | | | Upper Pseudo |162.37 |162.80 | 0.43 | 1.71 |0.05 | 0.94 |0.60 |0.12 | 284 |1452 |
+---------+---------+----------+------------------+--------+--------+-------+-------+------+-------+------+------+------+------+
| | | | Lower Pseudo |166.13 |167.15 | 1.02 | 1.69 |0.08 | 1.02 |0.45 |0.14 | 228 |1776 |
+---------+---------+----------+------------------+--------+--------+-------+-------+------+-------+------+------+------+------+
| | | | Lower Pseudo |170.49 |170.86 | 0.37 | 1.73 |0.00 | 1.40 |0.18 |0.15 | 25 | 679 |
+---------+---------+----------+------------------+--------+--------+-------+-------+------+-------+------+------+------+------+
| | | | | | | | | | | | | | |
+---------+---------+----------+------------------+--------+--------+-------+-------+------+-------+------+------+------+------+
| BPR033 | 1198 |-2779050 | UG2 HW | 52.12 | 53.12 | 1.00 | 0.61 | 0.01 | 0.42 | 0.15 | 0.04 | 38 | 960 |
+---------+---------+----------+------------------+--------+--------+-------+-------+------+-------+------+------+------+------+
| -80 | | | UG2 L1 | 53.12 | 53.64 | 0.52 | 1.47 | 0.01 | 0.90 | 0.38 | 0.18 | 54 | 1300 |
+---------+---------+----------+------------------+--------+--------+-------+-------+------+-------+------+------+------+------+
| 225 TN | | | UG2 | 53.64 | 54.40 | 0.76 | 5.33 | 0.01 | 3.28 | 1.33 | 0.72 | 29 | 1199 |
+---------+---------+----------+------------------+--------+--------+-------+-------+------+-------+------+------+------+------+
| | | | UG2 FW | 54.40 | 55.44 | 1.04 | 0.53 | 0.00 | 0.39 | 0.08 | 0.06 | 44 | 708 |
+---------+---------+----------+------------------+--------+--------+-------+-------+------+-------+------+------+------+------+
| | | | | | | | | | | | | | |
+---------+---------+----------+------------------+--------+--------+-------+-------+------+-------+------+------+------+------+
| BPR034 | 900 |-2779781 | UG2 L1 | 77.33 | 77.83 | 0.50 | 1.50 |0.01 | 0.90 |0.43 |0.16 | 10 |1382 |
+---------+---------+----------+------------------+--------+--------+-------+-------+------+-------+------+------+------+------+
| -80 | | | UG2 | 77.83 | 78.79 | 0.96 | 5.53 |0.01 | 3.41 |1.38 |0.72 | 10 |1338 |
+---------+---------+----------+------------------+--------+--------+-------+-------+------+-------+------+------+------+------+
| 225 TN | | | UG2 FW | 78.79 | 80.79 | 2.00 | 0.71 |0.00 | 0.46 |0.18 |0.06 | 19 | 560 |
+---------+---------+----------+------------------+--------+--------+-------+-------+------+-------+------+------+------+------+
| | | | | | | | | | | | | | |
+---------+---------+----------+------------------+--------+--------+-------+-------+------+-------+------+------+------+------+
| BPR036 | 1122 |-2779261 | UG2 HW | 48.69 | 49.69 | 1.00 | 0.67 |0.00 | 0.44 |0.18 |0.04 | 44 | 718 |
+---------+---------+----------+------------------+--------+--------+-------+-------+------+-------+------+------+------+------+
| -80 | | | UG2 L1 | 50.69 | 51.19 | 0.50 | 1.54 |0.01 | 1.01 |0.34 |0.18 | 10 |1047 |
+---------+---------+----------+------------------+--------+--------+-------+-------+------+-------+------+------+------+------+
| 225 TN | | | UG2 | 51.91 | 52.08 | 0.17 | 6.08 |0.02 | 3.65 |1.63 |0.78 | 10 |1256 |
+---------+---------+----------+------------------+--------+--------+-------+-------+------+-------+------+------+------+------+
| | | | UG2 FW | 52.08 | 53.08 | 1.00 | 0.71 |0.01 | 0.50 |0.14 |0.06 | 41 | 722 |
+---------+---------+----------+------------------+--------+--------+-------+-------+------+-------+------+------+------+------+
| | | | | | | | | | | | | | |
+---------+---------+----------+------------------+--------+--------+-------+-------+------+-------+------+------+------+------+
Intercept Parameters
4E PGM + Cu + Ni (NIS/MS) Minimum intercept 0.1m @ 0.5 ppm
Lower cutoff grade 0.5 ppm
Top cut grade 999 ppm Max consecutive waste - 3m
Maximum total waste 3m
Assays are fire assays with a nickel sulphide collection and ICP - MS
determination by Genalysis Laboratory, Johannesburg, South Africa, a NATA
accredited laboratory No ISO/IEC 17025.
Widths are intersected widths, not true widths. Holes are generally drilled at
80o from the horizontal towards the reefs which dip approximately 10 - 15 o.
Therefore true widths are generally 90% or higher of intersected width.
HW - Hanging Wall; FW - Footwall; MPEG - Mafic Pegmatoid; L1 - Leader one
QUALIFICATION STATEMENT
We confirm that exploration results contained in this report are based on
information compiled by Peter Allchurch, who is a Fellow of the Australian
Institute of Mining and Metallurgy. Peter Allchurch is non-executive Chairman of
Platinum Australia Limited.
Peter Allchurch has more than 5 years experience which is relevant to the style
of mineralisation and type of deposit under consideration and to the activity
which he is undertaking, to qualify as a competent person as defined in the 2004
edition of the 'Australasian Code for Reporting of Exploration Results, Mineral
Resources and Ore Reserves'. Peter Allchurch consents to the inclusion in this
report of the matters based on his information in the form and context in which
it appears.
JOHN D LEWINS
Managing Director
For further information
+------------------+-------------------+-----------------+------------------+------------------+
| John | Media | Media | AIM Nominated | UK Broker: |
| Lewins | enquiries | enquiries | Advisor: | RBC Capital |
| Managing | UK: | AUS: | Ambrian | Markets |
| Director | Ron | John Lewins | Partners | +44 207 653 4000 |
| Platinum | Marshman & | Platinum | Limited | |
| Australia | John | Australia | +44 207 634 4700 | |
| +61 08 9324 1491 | Greenhalgh | Ltd | | |
| M: 0419 910 061 | Lothbury | +61 8 9324 1491 | | |
| | Financial | M: +61 419 910 | | |
| | +44 020 7011 9411 | 061 | | |
+------------------+-------------------+-----------------+------------------+------------------+
Glossary
4E - platinum + palladium + rhodium + gold; 3E - platinum + palladium + gold;
g/t - grams per tonne; ozs - ounces ; t - tonne; PGM - Platinum Group Metals *
The six Platinum Group Metals (PGM's) are Platinum (Pt), Palladium (Pd),
Rhodium (Rh), Iridium (Ir), Osmium (Os) and Ruthenium (Ru).
Appendix 5B
Mining Exploration Entity Quarterly Report
Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001.
+---------------------------------------------------------------------------+
| |
| Name of entity |
+---------------------------------------------------------------------------+
| PLATINUM AUSTRALIA LIMITED |
+---------------------------------------------------------------------------+
+------------------------------+--------------+------------------------+
| ABN | | Quarter ended |
| | | ("current quarter") |
+------------------------------+--------------+------------------------+
| 99 093 417 942 | | 31 March 2010 |
+------------------------------+--------------+------------------------+
Consolidated Statement of Cash Flows
+------+-------------------------------+---------------------------+-----------------------------+
| | Current | Year to date |
| Cash flows related to operating | quarter | (9 months) |
| activities | | $A'000 |
| | $A'000 | |
+--------------------------------------+---------------------------+-----------------------------+
| 1.1 | Receipts from product sales | 14,519 | 38,849 |
| | and related debtors | | |
| | | | |
+------+-------------------------------+---------------------------+-----------------------------+
| 1.2 | Payments for (a) | (839) | (1,612) |
| | exploration and evaluation | (2,580) | (21,181) |
| | | (14,296) | (35,802) |
| | (b) development | (1,377) | (4,445) |
| | | | |
| | (c) production | | |
| | | | |
| | (d) administration | | |
+------+-------------------------------+---------------------------+-----------------------------+
| 1.3 | Dividends received | | |
+------+-------------------------------+---------------------------+-----------------------------+
| 1.4 | Interest and other items of a | 263 | 627 |
| | similar nature received | | |
+------+-------------------------------+---------------------------+-----------------------------+
| 1.5 | Interest and other costs of | (406) | (1,718) |
| | finance paid | | |
+------+-------------------------------+---------------------------+-----------------------------+
| 1.6 | Income taxes paid | - | (1,142) |
+------+-------------------------------+---------------------------+-----------------------------+
| 1.7 | Other (provide details if | - | 5 |
| | material) | | |
+------+-------------------------------+---------------------------+-----------------------------+
| | | (4,716) | (26,419) |
| | Net Operating Cash Flows | | |
+------+-------------------------------+---------------------------+-----------------------------+
| | | | |
| | Cash flows related to | | |
| | investing activities | | |
+------+-------------------------------+---------------------------+-----------------------------+
| 1.8 | Payment for purchases of: (a) | - | (2,026) |
| | prospects | | |
| | | | |
| | | | |
| | (b) equity investments | | (53) |
| | | - | |
| | | | |
| | (c) other fixed assets | | |
+------+-------------------------------+---------------------------+-----------------------------+
| 1.9 | Proceeds from sale of: | | |
| | (a) prospects | | |
| | | | |
| | | | |
| | (b) equity investments | | |
| | | | |
| | | | |
| | (c) other fixed assets | | |
+------+-------------------------------+---------------------------+-----------------------------+
| 1.10 | Loans to other entities | | |
| | | | |
+------+-------------------------------+---------------------------+-----------------------------+
| 1.11 | Loans repaid by other | | 12 |
| | entities | - | |
| | | | |
+------+-------------------------------+---------------------------+-----------------------------+
| 1.12 | Other (provide details if | 264 | 264 |
| | material) | | |
| | Joint venture participants | | |
| | contributions | | |
| | | | |
+------+-------------------------------+---------------------------+-----------------------------+
| | Net investing cash flows | 264 | (1,803) |
+------+-------------------------------+---------------------------+-----------------------------+
| 1.13 | Total operating and investing | (4,452) | (28,222) |
| | cash flows | | |
| | (carried forward) | | |
+------+-------------------------------+---------------------------+-----------------------------+
+------+-------------------------------+--------------+--------------+
| 1.13 | Total operating and investing | (4,452) | (28,222) |
| | cash flows (brought forward) | | |
+------+-------------------------------+--------------+--------------+
| | | | |
| | Cash flows related to | | |
| | financing activities | | |
+------+-------------------------------+--------------+--------------+
| 1.14 | Proceeds from issues of | 35 | 57,407 |
| | shares, options, etc. | | |
| | | | |
+------+-------------------------------+--------------+--------------+
| 1.15 | Proceeds from sale of | | |
| | forfeited shares | | |
| | | | |
+------+-------------------------------+--------------+--------------+
| 1.16 | Proceeds from borrowings | - | 15,000 |
| | | | |
+------+-------------------------------+--------------+--------------+
| 1.17 | Repayment of borrowings | - | (48,662) |
| | | | |
+------+-------------------------------+--------------+--------------+
| 1.18 | Dividends paid | | |
| | | | |
+------+-------------------------------+--------------+--------------+
| 1.19 | Other (provide detail if | - | 16,638 |
| | material) | | |
| | Fundraising Costs (2,322) | | |
| | Close of Hedgebook facility | | |
| | 18,960 | | |
| | | | |
+------+-------------------------------+--------------+--------------+
| | Net financing cash flows | 35 | 40,383 |
+------+-------------------------------+--------------+--------------+
| | | | |
| | Net increase (decrease) in | (4,417) | 12,161 |
| | cash held | | |
| | | | |
+------+-------------------------------+--------------+--------------+
| 1.20 | Cash at beginning of | 22,797 | 7,296 |
| | quarter/year to date | | |
+------+-------------------------------+--------------+--------------+
| 1.21 | Exchange rate adjustments to | (239) | (1,316) |
| | item 1.20 | | |
+------+-------------------------------+--------------+--------------+
| 1.22 | Cash at end of quarter (refer | 18,141 | 18,141 |
| | note below) | | |
+------+-------------------------------+--------------+--------------+
Payments to directors of the entity and associates of the directors
Payments to related entities of the entity and associates of the related
entities
+------+--------------------------------------------+-------------------+
| | Current |
| | quarter |
| | $A'000 |
+---------------------------------------------------+-------------------+
| 1.23 | Aggregate amount of payments to the | 208 |
| | parties included in item 1.2 | |
+------+--------------------------------------------+-------------------+
| 1.24 | Aggregate amount of loans to the parties | - |
| | included in item 1.10 | |
+------+--------------------------------------------+-------------------+
| | |
| 1.25 | Explanation necessary for an understanding of the |
| | transactions |
+------+----------------------------------------------------------------+
| | |
| | |
+------+--------------------------------------------+-------------------+
Non-cash Financing and Investing Activities
+-----+------------------------------------------------------------+
| 2.1 | |
+-----+------------------------------------------------------------+
| | |
+-----+------------------------------------------------------------+
+-----+------------------------------------------------------------+
| 2.2 | |
+-----+------------------------------------------------------------+
| | |
+-----+------------------------------------------------------------+
Financing Facilities Available
Add notes as necessary for an understanding of the position.
+-----+-----------------------------+---------------+--------------+
| | | Amount | Amount used |
| | | available | $A'000 |
| | | $A'000 | |
+-----+-----------------------------+---------------+--------------+
| 3.1 | Loan facilities | 15,000 | 15,000 |
+-----+-----------------------------+---------------+--------------+
| 3.2 | Credit standby arrangements | - | - |
+-----+-----------------------------+---------------+--------------+
| |
| The Loan Facility refers to the bridging finance with |
| Macquarie Bank Limited required to repay the finance and |
| hedgebook facilities provided by Standard Bank South Africa |
| Limited. This Loan Facility is repayable in full by the 31st |
| August 2011 with no penalty for early repayment and carries an |
| interest rate of 8% and a facility fee of 1.75%. The Facility |
| is secured by a floating charge over the assets of PLA. |
| |
| |
+-----+-----------------------------+---------------+--------------+
Estimated Cash Outflows for next Quarter
+-----+---------------------------------------------+--------------+
| | | $A'000 |
+-----+---------------------------------------------+--------------+
| 4.1 | Exploration and evaluation | (1,500) |
+-----+---------------------------------------------+--------------+
| 4.2 | Development (Underground fleet etc) | (3,000) |
+-----+---------------------------------------------+--------------+
| 4.3 | Production (Gross operating expenditure) | (11,100) |
+-----+---------------------------------------------+--------------+
| | | |
| | Total | (15,600) |
+-----+---------------------------------------------+--------------+
Reconciliation of Cash
+-----+-----------------------------+--------------+---------------+
| Reconciliation of cash at the | Current | Previous |
| end of the quarter (as shown in | quarter | quarter |
| the consolidated statement of | $A'000 | $A'000 |
| cash flows) to the related | | |
| items in the accounts is as | | |
| follows. | | |
+-----------------------------------+--------------+---------------+
| 5.1 | Cash on hand and at bank | 24 | 61 |
+-----+-----------------------------+--------------+---------------+
| 5.2 | Deposits at call | 18,117 | 22,736 |
+-----+-----------------------------+--------------+---------------+
| 5.3 | Bank overdraft | - | - |
+-----+-----------------------------+--------------+---------------+
| 5.4 | Other: Bank Guarantees | - | - |
+-----+-----------------------------+--------------+---------------+
| | Total: cash at end of | 18,141 | 22,797 |
| | quarter (item 1.22) | | |
+-----+-----------------------------+--------------+---------------+
Changes in Interests in Mining Tenements
+-----+---------------+----------------+-----------+-----------+----------+
| | | Tenement | Nature of | Interest | Interest |
| | | reference | interest | at | at end |
| | | | (note | beginning | of |
| | | | (2)) | of | quarter |
| | | | | quarter | |
+-----+---------------+----------------+-----------+-----------+----------+
| 6.1 | Interests | | | | |
| | in mining | | | | |
| | tenements | | | | |
| | relinquished, | | | | |
| | reduced or | | | | |
| | lapsed | | | | |
| | | | | | |
+-----+---------------+----------------+-----------+-----------+----------+
| 6.2 | Interests | | | | |
| | in mining | | | | |
| | tenements | | | | |
| | acquired | | | | |
| | or | | | | |
| | increased | | | | |
| | | | | | |
| | | | | | |
+-----+---------------+----------------+-----------+-----------+----------+
Issued and Quoted Securities at end of Current Quarter
Description includes rate of interest and any redemption or conversion rights
together with prices and dates.
+------+--------------------------+-------------+-------------+------------+------------+
| | Total | Number | Issue | Amount |
| | number | quoted | price per | paid up |
| | | | security | per |
| | | | (see note | security |
| | | | 3) (cents) | (see note |
| | | | | 3) (cents) |
+---------------------------------+-------------+-------------+------------+------------+
| 7.1 | Preference | | | | |
| | securities(description) | | | | |
+------+--------------------------+-------------+-------------+------------+------------+
| 7.2 | Changes during | | | | |
| | quarter | | | | |
| | (a) Increases | | | | |
| | through issues | | | | |
| | (b) Decreases | | | | |
| | through returns | | | | |
| | of capital, | | | | |
| | buy-backs, | | | | |
| | redemptions | | | | |
+------+--------------------------+-------------+-------------+------------+------------+
| 7.3 | +Ordinary | 320,930,521 | 320,930,521 | | |
| | securities | | | | |
+------+--------------------------+-------------+-------------+------------+------------+
| 7.4 | Changes during | | | | |
| | quarter | 50,000 | 50,000 | | |
| | (a) Increases | | | | |
| | through issues | | | | |
| | (b) Decreases | | | | |
| | through returns | | | | |
| | of capital, | | | | |
| | buy-backs | | | | |
+------+--------------------------+-------------+-------------+------------+------------+
| 7.5 | +Convertible debt | | | | |
| | securities | | | | |
| | (description) | | | | |
+------+--------------------------+-------------+-------------+------------+------------+
| 7.6 | Changes during | | | | |
| | quarter | | | | |
| | (a) Increases | | | | |
| | through issues | | | | |
| | (b) Decreases | | | | |
| | through | | | | |
| | securities | | | | |
| | matured, | | | | |
| | converted | | | | |
+------+--------------------------+-------------+-------------+------------+------------+
| 7.7 | Options(description | | | Exercise | Expiry |
| | and conversion | 350,000 | - | price | date |
| | factor) | 3,000,000 | - | 70 | 30 June |
| | | 100,000 | - | Cents | 2010 |
| | | 900,000 | - | $1.25 | 21 |
| | | 115,000 | | $1.29 | December |
| | | 100,000 | - | $1.74 | 2011 |
| | | 250,000 | - | $2.35 | 06 June |
| | | 150,000 | - | $2.41 | 2010 |
| | | 4,285,713 | - | 86 | 30 June |
| | | | | Cents | 2011 |
| | | | | | 31 July |
| | | | | 91.5 | 2012 |
| | | | | Cents | 31 July |
| | | | | $1.05 | 2012 |
| | | | | | 31 July |
| | | | | | 2013 |
| | | | | | 31 |
| | | | | | December |
| | | | | | 2013 |
| | | | | | 31 August |
| | | | | | 2011 |
| | | | | | |
+------+--------------------------+-------------+-------------+------------+------------+
| 7.8 | Issued during | 1,428,571 | - | $1.05 | 31 August |
| | quarter | | | | 2011 |
+------+--------------------------+-------------+-------------+------------+------------+
| 7.9 | Exercised during | 50,000 | - | 70 Cents | 30 June |
| | quarter | | | | 2010 |
+------+--------------------------+-------------+-------------+------------+------------+
| 7.10 | Cancelled during | 100,000 | - | $2.11 | 31 July |
| | quarter (lapsed) | | | | 2012 |
+------+--------------------------+-------------+-------------+------------+------------+
| 7.11 | Debentures | | | | |
| | (totals only) | | | | |
+------+--------------------------+-------------+-------------+------------+------------+
| 7.12 | Unsecured notes | | | | |
| | (totals only) | | | | |
+------+--------------------------+-------------+-------------+------------+------------+
Compliance Statement
1 This statement has been prepared under accounting policies which
comply with accounting standards as defined in the Corporations Act or other
standards acceptable to ASX (see note 4).
2 This statement does give a true and fair view of the matters
disclosed.
Sign here: ............................................................
Date: 30 April 2010
(Managing Director)
Print name: JOHN D LEWINS
Notes
1 The quarterly report provides a basis for informing the market how
the entity's activities have been financed for the past quarter and the effect
on its cash position. An entity wanting to disclose additional information is
encouraged to do so, in a note or notes attached to this report.
2 The "Nature of interest" (items 6.1 and 6.2) includes options in
respect of interests in mining tenements acquired, exercised or lapsed during
the reporting period. If the entity is involved in a joint venture agreement
and there are conditions precedent which will change its percentage interest in
a mining tenement, it should disclose the change of percentage interest and
conditions precedent in the list required for items 6.1 and 6.2.
3 Issued and quoted securities The issue price and amount paid up is
not required in items 7.1 and 7.3 for fully paid securities.
4 The definitions in, and provisions of, AASB 1022: Accounting for
Extractive Industries and AASB 1026: Statement of Cash Flows apply to this
report.
5 Accounting Standards ASX will accept, for example, the use of
International Accounting Standards for foreign entities. If the standards used
do not address a topic, the Australian standard on that topic (if any) must be
complied with.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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