Lesego Platinum Project

The Lesego project is located approximately 300 km northeast of Johannesburg in the Limpopo province of South Africa. Access to the project site is via existing highways and mostly tarred roads. Electricity and water for the development and operation is readily accessible.

The Lesego deposit is a shallow, high grade resource of some 50 Million ounces at an average grade of over 5,5 g/t. The orebody and details of the resources are indicated below.

3d ore body geometry

SRK Audited Mineral Resources Statement for Lesego Platinum effective 31 August 2018
Reef Name Category Quantity
(Mt)
PGM Grade
(4E g/t)
Contained PGMs
(4E Moz)4
Cu Grade
(%)
Ni Grade
(%)
Contained Cu
(kt)
Contained Ni
(kt)
MR Measured 9.29 4.91 1.47 0.11 0.25 10.5 23.1
Indicated 54.21 5.46 9.52 0.12 0.25 65.8 135.6
Subtotal (M & I) 63.50 5.38 10.98 0.12 0.25 76.3 158.7
Inferred 35.40 5.38 6.12 0.12 0.25 42.1 86.8
UG2 Measured 31.10 4.60 4.60 0.05 0.16 15.0 48.8
Indicated 74.64 5.61 13.47 0.05 0.16 40.3 122.3
Subtotal (M & I) 105.75 5.31 18.07 0.05 0.16 55.3 171.1
Inferred 75.15 5.98 14.46 0.06 0.17 43.9 130.3
Total Total Measured 40.39 4.67 6.07 0.06 0.18 25.5 71.8
Total Indicated 128.85 5.55 22.99 0.08 0.20 106.1 257.9
Total (M & I) 169.24 5.34 29.06 0.08 0.19 131.6 329.8
Total Inferred 110.55 5.79 20.58 0.08 0.20 86.0 217.0
Total (M&I&I) 27.79 5.52 49.63 0.08 0.20 217.6 546.8
Notes

1 All figures are rounded to reflect the relative accuracy of the estimate.
2 A geological loss factor of 17% has been applied to the reported tonnage.
3 No cut-off has been applied, as the claculated cut-off grade is below the lowest estimated grade.
4 SRK calculated a basket metal price at ZAR2 262/t for the Merensky, and ZAR2 342/t for the UG2.
5 Troy oz = 31.103486 g.
6 M & I = Measured and Indicated Resources.


The development of this world class asset is currently being investigated in detail, with two options available as depicted below.

large mine option upper mine option

The development strategy for Lesego entails the creation of a vertically integrated platinum company; including state-of-the-art sustainable mining and processing together with downstream manufacture of fuel cells, jewelry and investment pieces.

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