Free state operations

Gold mineral resources
	Measured				Indicated				Inferred				Total
Operations	Tonnes (Mt)	g/t	Gold (000kg)	Gold (000oz)	Tonnes (Mt)	g/t	Gold (000kg)	Gold (000oz)	Tonnes (Mt)	g/t	Gold (000kg)	Gold (000oz)	Tonnes (Mt)	g/t	Gold (000kg)	Gold (000oz)
Underground
Bambanani	11.4	11.20	127	4 087	6.4	9.67	62	1 993	3.8	9.02	34	1 101	21.6	10.36	223	7181
Joel	4.3	6.44	28	895	3.9	6.82	27	855	12.3	6.50	80	2 580	20.5	6.55	135	4330
Masimong	14.0	7.55	106	3 401	14.9	6.51	97	3 128	100.3	6.69	671	21 576	129.2	6.76	874	28 105
Phakisa
Phakisa	0.2	9.72	2	65	22.1	12.29	272	8 745	57.8	7.02	405	13 036	80.1	8.48	679	21 846
Nyala	4.4	6.91	31	985	3.9	4.76	18	592	–	–	–	–	8.3	5.91	49	1 577
Total	4.6	7.03	33	1 050	26.0	11.17	290	9 337	57.8	7.02	405	13 036	88.4	8.24	728	23 423
Target*	6.3	9.81	62	1 991	13.9	7.65	106	3 412	5.2	6.26	32	1 043	25.4	7.90	200	6 446
Tshepong	14.0	11.03	154	4 949	14.3	11.32	162	5 211	13.8	8.85	122	3 922	42.1	10.42	438	14 082
Virginia
Harmony 2	10.2	4.75	48	1 559	7.1	3.30	24	757	77.1	3.67	282	9 082	94.4	3.76	354	11 398
Merriespruit 1	8.5	5.20	45	1 421	3.8	5.25	20	635	39.6	4.19	166	5 334	51.9	4.43	231	7 390
Merriespruit 3	8.8	5.25	46	1 491	2.8	4.91	14	436	7.0	4.08	29	917	18.6	4.76	89	2 844
Unisel	11.2	5.56	62	1 989	12.0	4.73	56	1828	20.6	4.65	97	3 086	43.8	4.90	215	6 903
Brand 3	4.1	6.78	28	892	4.1	6.91	29	916	10.0	5.15	51	1 650	18.2	5.91	108	3 458
Total	42.8	5.35	229	7 352	29.8	4.77	143	4 572	154.3	4.05	625	20 069	226.9	4.39	997	31 993
Total Underground	97.4	7.54	739	23 725	109.2	8.12	887	28 508	347.5	5.67	1 969	63 327	554.1	6.49	3 595	115 560
Surface
Phoenix	130.8	0.27	36	1 148	–	–	–	–	5.3	0.26	1	44	136.1	0.27	37	1 192
St Helena	289.6	0.25	72	2 327	–	–	–	–	–	–	–	–	289.6	0.25	72	2 327
Other	421.8	0.22	93	2 984	142.0	0.33	47	1 500	195.2	0.23	45	1 444	759.0	0.24	185	5 928
Total surface	842.2	0.24	201		142.0	0.33	47	1 500	200.5	0.23	46	1 488	1 184.7	0.25	294	9 447
GRAND TOTAL	939.6		940	30 184	251.2		933	30 008	548.0		2 015	64 815	1 738.8		3 889	125 007

* Target’s mineral resources are stated as work in progress – the process has been independently reviewed by SRK.

Modifying factors
Operations	MCF (%)	SW (cm)	MW (cm)	PRF (%)
Bambanani	78	200	218	96
Joel	93	150	198	96
Masimong	67	130	154	95
Phakisa	81	100	129	95
Nyala	87	150	191	94
Tshepong	65	105	142	97
Harmony 2	69	154	178	95
Merriespruit 1	75	162	205	95
Merriespruit 3	67	218	246	95
Unisel	80	175	193	95
Brand 3	94	193	229	96

MCF = Mine call factor
MW = Milling width
SW = Stoping width
PRF = Plant recovery factor

Operations	MCF (%)	Dilution (%)	PRF (%)
Target	95	5	96
Phoenix	100	_	47
St Helena	100	_	47
Other	100	_	47

MCF = Mine call factor
PRF = Plant recovery factor

Gold ore reserves
	Proven				Probable				Total
Operations	Tonnes (Mt)	Grade g/t	Gold (000kg)	Gold (000oz)	Tonnes (Mt)	Grade g/t	Gold (000kg)	Gold (000oz)	Tonnes (Mt)	Grade g/t	Gold (000kg)	Gold (000oz)
Underground
Bambanani	3.5	8.48	30	965	1.2	10.90	13	420	4.7	9.09	43	1 385
Joel	0.9	5.74	5	161	2.2	5.52	13	404	3.1	5.58	18	565
Masimong	4.5	5.20	24	751	1.4	5.27	7	233	5.9	5.22	31	984
Phakisa
Phakisa	0.3	5.38	1	43	20.1	8.12	163	5 234	20.4	8.08	164	5 277
Nyala	0.1	4.01	1	13	0.0	3.37	–	5	0.1	3.82	1	18
Total	0.4	4.98	2	56	20.1	8.11	163	5 239	20.5	8.05	165	5 295
Target*	4.8	6.10	29	942	9.0	5.60	50	1 617	13.8	5.77	79	2 559
Tshepong	12.8	5.30	68	2 184	11.5	5.78	66	2 130	24.3	5.53	134	4 314
Virginia
Harmony 2	0.9	3.56	3	103	0.1	3.28	–	9	1.0	3.53	3	112
Merriespruit 1	1.2	4.55	6	183	0.6	4.45	2	86	1.8	4.52	8	269
Merriespruit 3	0.9	3.69	3	102	0.2	2.80	1	16	1.1	3.54	4	118
Unisel	3.0	4.95	15	482	1.8	4.85	9	276	4.8	4.91	24	758
Brand 3	0.6	3.92	2	70	0.1	4.42	1	20	0.7	4.02	3	90
Total	6.6	4.43	29	940	2.8	4.56	13	407	9.4	4.47	42	1 347
Total Underground	33.5	5.77	187	5 999	48.2	6.75	325	10 450	81.7	6.27	512	16 449
Surface
Free State Surface
Phoenix	130.8	0.27	36	1 148	–	–	–	–	130.8	0.27	36	1 148
St Helena	289.6	0.25	72	2 326	–	–	–	–	289.6	0.25	72	2 326
Other	421.8	0.22	93	2 985	101.7	0.26	26	845	523.5	0.23	119	3 830
Total surface	842.2	0.24	201	6 499	101.7	0.26	26	845	943.9	0.24	227	7 304
GRAND TOTAL	875.7		388	12 458	149.9		351	11 295	1 025.6		739	23 753

* Target’s ore reserves are stated as work in progress – the process has been independently reviewed by SRK.

Uranium mineral resources
	Measured				Indicated				Inferred				Total
	Tonnes		U₃O₈	U₃O₈	Tonnes		U₃O₈	U₃O₈	Tonnes		U₃O₈	U₃O₈	Tonnes		U₃O₈	U₃O₈
Operations	(Mt)	kg/t	(M kg)	(M lbs)	(Mt)	kg/t	(M kg)	(M lbs)	(Mt)	kg/t	(M kg)	(M lbs)	(Mt)	kg/t	(M kg)	(M lbs)
Surface	358.8	0.09	33	72	36.5	0.10	4	8	68.4	0.07	5	11	463.7	0.09	42	91

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