Platfields Fact Sheet
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Our Company Platfields Limited, founded in 2002, is currently an unlisted South African precious metals exploration company, 37% black-owned, with two near-surface platinum group metals (PGM) exploration projects on the Eastern Limb of the Bushveld Complex, and one near-surface gold exploration project in the Transvaal Drakensberg goldfield of Mpumalanga Province.
Our projects   Our flagship project is the near-surface Berg PGM Project, located near the southern end of the Eastern Limb of the Bushveld Complex, along strike from Anglo Platinum’s Der Brochen Project, Northam’s Booysendal Project and Aquarius Platinum South Africa’s Everest South mining operation. New order prospecting rights have been granted for portions of the farms Kliprivier 73JT, Klipbankspruit 76JT, Houtenbek 97JT and Draaikraal 48JT – approximately 6 000 hectares in extent. The two most important platinum-bearing reefs in the project area are the UG2 Reef and the Merensky Reef, with the latter being 100 to 150 metres above the UG2 Reef. The UG2 outcrops on the northernmost farm, Kliprivier, pointing to prospects for early, openpit mining. Exploration data to date, derived from a heliborne aeromagnetic survey, comprehensive field mapping, strontium isotope studies and borehole drilling, indicates a mean exploration target of 10.65 million ounces (MOz) of 4E PGE (platinum, palladium, rhodium and gold). Platfields’ three-phase, 232-hole exploration drilling programme for the Berg – Phase 1 of which has begun – is intended to increase the confidence in the geology and category of stated Mineral Resources.		Our objective and strategy Our objective is to advance rapidly from our current status as an emerging precious metals explorer to become a developer and operator of precious metals mining operations in South Africa, taking full advantage of the opportunities presented by South Africa’s new, enabling minerals legislation and the continued, sound long-term outlook for precious metals – PGMs and gold in particular. While we are growth-focused in the longer term, our shortto medium-term strategy is to use our existing capital base of R100 million to rapidly advance our three highly attractive exploration projects. New order prospecting rights have been granted in respect of the three projects. We intend to list on the Main Board of the JSE Limited, in order to raise additional capital of R450 million in the short term for further exploration and early, cashgenerative mining. While valuing our independence, we will actively pursue collaborative opportunities with other like-minded companies, when and where it makes sound business sense to do so.
The Leeuwkop PGM Project, in which we have a 32.5% interest, is a near-surface PGM target at the north-western end of the Eastern Limb of the Bushveld Complex, immediately west of the Anglo Platinum/Anooraq Lebowa Platinum Mine and close to both Lonmin’s Limpopo Platinum Mine and Aquarius Platinum South Africa’s Bakgaga Project. The Leeuwkop PGM Project covers the 600- hectare farm Leeuwkop 425KS, for which a prospecting right has been granted. As with the Berg Project, the principal targets are the Merensky and UG2 reefs. Exploration data to date indicates an attributable exploration target of up to 1.95MOz of 4E PGE. Aeromagnetics and radiometrics of the Leeuwkop Project have been completed. The next exploration phases include field mapping and a two-phase drilling programme comprising a total of 29 boreholes.   The near-surface Grootfonteinberg Gold Project, adjacent to Simmer and Jack’s Beta gold mine, covers a total of 301.1 hectares, comprising portions of the farms Lisbon 531KT, Little Joker 157JT, Ceylon 197JT and Grootfonteinberg 561KT, all of which fall within the Transvaal Drakensberg goldfield. Exploration data to date indicates a possible target of up to 3.43MOz of gold on the farm Grootfonteinberg 561KT. Future exploration includes surface mapping, aeromagnetic and radiometric surveys and a two-phase drilling programme comprising a total of 13 boreholes. Platfields’ total exploration budget for its current projects is R324.9 million – R283.7 million for the Berg Project, R24.1 million for the Leeuwkop Project and R17.1 million for the Grootfonteinberg Project.

While some tightening in platinum, palladium and rhodium pricing has been experienced recently due to generally tougher economic conditions in the key western markets, we remain bullish regarding prospects in the medium to long term for markets, and thus pricing, for the three commodities. South African producers are collectively a primary source for all three, and are challenged on various fronts – not least in bringing timeously to account new projects – to narrow the gap between world supply and demand, and these challenges are likely to continue. While growth in automotive, industrial and jewellery consumption in western economies has slowed, it is likely to level for a period rather than to regress, and it is probable that any slack will be taken up by growth in emerging Asian markets, India and China in particular. With respect to gold, we are similarly bullish. Economic uncertainty, such as is currently widespread in western economies, has always tended to slow de-hording of supplies above ground and to increase demand for newly mined metal. This scenario, together with increasing demand in strong, emerging markets such as India and China, and with declining supplies of newly mined gold – a consequence both of the challenges facing explorers to find economically viable reserves and producers to mine profitable ounces in the face of rising costs – points to the likelihood of robust gold pricing in the medium to long term.

	Bongani Mbindwane Chief Executive Officer Former chairman, Seran Mining Engineering; co-founder, Ubambo Investments; Property Tender Board Member and Property Committee Member, Western Cape Provincial Government; Environmental Consultant, ECS and City of Cape Town
Annelise Cilliers Financial Director Former audit partner and director of international audit firm, PKF; former financial director of Venture Leisure and Commercial Trailers Ltd; was closely involved in the compilation of Platfields’ prospectus in 2003		Joshua Hatting Operations Director Co-owner, Rock and Stock Investments (clients include Anglo Platinum, Impala Platinum, Aquarius Platinum, Lonmin, Snowden Mining)
	James Molatsi Non-executive Chairman Chief Executive Officer, TEBA Limited; Deputy Chairman, AngloGold Ashanti Limited; former President, National Union of Mineworkers and Southern African Miners Federation; former Vice- President, Miners International Federation; Cosatu Executive Committee member ;Nelson Mandela Children’s Fund trustee
Sibongile Twala Non-executive Director Previously held senior management positions in Univilever, Fedics, PAG and Premier Foods; has participated in several empowerment transactions, including involvement in community development projects.		Sheldon Erasmus Non-executive Director MD of EFS, a specialist financial services company; seats on various boards; represents some of Platfields’ BEE partners
Roy Travis Non-executive Director Geologist; former Technical Director and Managing Director of Zaaiplaats Mining; former director of Zimco Industries Roy Travis Non-executive Director Civil engineer; more than 40 years’ mining, property development and engineering experience; highly successful entrepreneur, business manager