Maseve

Maseve Projects 1 and 3

The Maseve projects are located near Rustenburg in the North West province of South Africa. Project 1 adjoins Wesizwe’s Frischgewaagd-Ledig Project; it also shares a boundary with the Styldrift mine which is under construction, and the producing Bafokeng Rasimone Platinum Mine, both of which are owned by Royal Bafokeng Platinum Limited. PTM is the manager and operator of the Maseve Projects 1 and 3.

There were changes in 2012/13 to the total attributable resources from the Maseve project to Wesizwe due to our reduction in shareholding in the Maseve projects from 26% to 22.5%. Further to this, there was a reduction in the Maseve shareholding down to 17.1% during 2014. This equates to a total reduction (from 22.5% to 17.1%) of attributable resource of 0.610Moz (4E), of which 0.507Moz (4E) is from the Maseve Project 1 and 0.103Moz (4E) from Maseve Project 3.