Bongani Mbindwane, CEO BAC Platinum Day London, Zurich, Basel, Lausanne, Geneva, Lugano

Transcription

1 Bongani Mbindwane, CEO BAC Platinum Day London, Zurich, Basel, Lausanne, Geneva, Lugano May 2009

2 Disclaimer All statements in this presentation, other than historical facts, that address exploration activities and mining potential are forward-looking statements. Although Platfields Limited believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements should not in any way be construed as guarantees of future performance. Factors that could cause developments to differ materially from those expressed include exploration results, technical analysis and lack of availability to the company of necessary capital to progress its projects s. The company is subject to specific risks inherent in the exploration and mining business and general economic and business conditions. This presentation is not an offer for the sale of or subscription for shares to the public as defined in the South African Companies Act, No. 61 of 1973 (as amended), nor is it intended to constitute a prospectus prepared and registered under such Companies Act. Before any shares in Platfields Limited are offered to any prospective investor, an appropriate prospectus or other offering document will be prepared. This presentation does not represent or intend to make an offer in the United States of America or any other territory outside of the Republic of South Africa. Its sole purpose is for information only. 2

3 Profile South African precious metals exploration company rapid progression to developer, miner Founded d in % black owned New order prospecting rights one gold project Grootfonteinberg three platinum group metal (PGM) projects Berg Leeuwkop Tigerpoort JSE Main Board listing process under way 529.7m shares in issue at 1 March 2009 Market capitalisation of more than R1.5 billion 3

4 Structure Private investors 63% 37% BEE investors Tigerpoort (PGMs) Berg (PGMs) 41.25%* Leeuwkop (PGMs) 100%* 100%* 100%* Grootfonteinberg (Au) *Attributable resource 4

5 Mining value curve Exploration Resource Feasibility Project Mining phase definition sta age development stage Value Project finance Structured equity and equity Feasibility Upside opportunity Mining Equity financing Platfields Pre-feasibility Discovery Time 5

6 US$ per rhodium ounce 8000 PGM performance um ounce US$ per platinum/palladi 0 Jan-03 Apr-03 Jul-03 Oct-03 Jan-04 Apr-04 Jul-04 Oct-04 Jan-05 Apr-05 Jul-05 Oct-05 Jan-06 Apr-06 Jul-06 Oct-06 Jan-07 Apr-07 Platinum Palladium 0 6 Jul-07 Oct-07 Jan-08 Apr-08 Jul-08 Oct-08 Jan-09 Apr-09 Rhodium

7 Platinum surplus/deficit (100) (200) (300) (400) (500) (600) (700) E 2009E 2010E Pt surplus Pt deficit Source: SFA Oxford 7

8 Gold price performance Gold price performance 1200 $/oz Monthly gold price Jan-200 Apr-20 Jul-200 Oct-200 Jan-200 Apr-20 Jul-200 Oct-200 Jan-200 Apr-20 Jul-200 Oct-200 Jan-200 Apr-20 Jul-200 Oct-200 Jan-200 Apr-20 Jul-200 Oct-200 Jan-200 Apr-20 Jul-200 Oct-200 Jan-200 Apr-20 Jul-200 Oct-200 Jan-200 Apr-20 Jul-200 Source: Jul 200 Oct-200 Jan-200 Apr-20 Jul-200 Oct-200 Jan-200 Apr-20 McGregor BFA 8

9 Projects: location Tigerpoort (PGMs) Leeuwkop (PGMs) Grootfonteinberg (Au) Berg g( (PGMs) 9

10 Berg Project: location hectare prospecting area crossed by Critical Zone Anglo Platinum Der Brochen Anglo Platinum/Northam Booysendal Roossenekal Approximate UG2 outcrop ARM/Implats Two Rivers Eastplats Mareesburg Sylvania Everest North Aquarius Everest South Lydenburg Platfields Berg Nkwe Platinum Kliprivier Dullstroom 10

11 Berg Project: current status Exploration to date: Heliborne aeromagnetic survey comprehensive field mapping strontium isotope studies borehole drilling UG2 and Merensky reefs intersected Model confirmed Continuity in grade and lithological association Highest grade: 7.47g/t 4E PGE (BD5 borehole) Mean exploration target: 10.65Moz 4E PGE 11

12 Leeuwkop Project: location 600-hectare prospecting area Adjoined by Lebowa Plats (Anglo Platinum/Anooraq) Merensky, UG2 reefs traced historically by Anglo Platinum Strike length of 2 500m Aerial dip extent: 2 500m UG2 grade: g/t Mean exploration target: up to 1.95Moz 4E PGE, attributable to Platfields (Merensky and UG2) 12

13 Tigerpoort Project 500-hectare prospecting area Located west, adjacent to Leeuwkop Early-stage project possible expansion to Leeuwkop stand-alone potential targets, resources under estimation 13

14 Grootfonteinberg Project: loca ation Total of hectares Mean exploration target: up to 3.43Moz Au Target grade: g/t Au Possible life of mine: years 14

15 Berg Project: further explorati on Three-phase drilling programme 60 months 232 boreholes R284 million Current phase define resource 12 months 15 boreholes R19.1 million 15

16 Leeuwkop Project: phased exp ploration Aeromagnetics, radiometrics Field mapping Two-phase drilling programme 30 months 29 holes R24 million Phase 1 18 months 7 holes R6.6 million 16

17 Grootfonteinberg Project: planned exploration Surface mapping Aeromagnetic, radiometric survey to delineate structure, confirm layering Two-phased drilling programme 30 months 13 holes R17.1 million Phase 1 18 months 3 holes R5.2 million 17

18 Work programme Drilling (12 mths) Berg Drilling (12 mths) EMP Drilling Mining right application Drilling (18 mths) Drilling (12 mths) Leeuwkop EMP Mining right application Drilling (18 mths) Grootfonteinber g Drilling (12 mths) EMP Mining right application Define resources Pre-feasibil lity and resource upgrade Feasibility Ramp up to full scale mine production Full scale mine production 18

19 Exploration drilling budget Project Phase 1 Berg 19.1 Leeuwkop 6.6 Tigerpoort (five-year estimate) Grootfonteinberg 5.2 Total Phase 2 Phase 3 Total

20 Capital raising Rm Post listing first phase (Jul ly 09) 200 Post listing second phase (2010) 250 Total

21 Investment case Precious metals focus PGMs, Au Development, mining objectives not just another exploration play Experienced board strong empowerment profile Highly prospective exploration assets Disciplined, phased exploration planning Conservative capital raising geared to current climate 21

22 The year ahead Market volatility Go with the flow earlier cash flows cost controls skills acquisition, retention Accelerate growth across the value chain acquisitions strategic ventures 22

23 Objective To become: the pre-eminent South African emerging precious metals explorer and miner the precious metals investment of choice 23

24 Board of Directors Bongani Mbindwane, Chief Executive Officer Former Chairman, Sera Mining Engineering; cofounder, Ubambo Investments; Property Tender Board member, Western Cape Provincial Government; Environmental Consultant, ECS and City of Cape Town; member of the Sustainable Development Committee for the Minerals and Mining Development Board; Non Executive of Isibaya Mining Resources (Pty) Ltd Joshua Hattingh Operations Director Responsible for the technical direction of Platfields and adherence to best industry practices and corporate governance. Director of Rock and Stock Investments, providing geological services/expertise to various exploration and mining companies including majors. Previously employed as a geologist with various companies including Gencor Limited and Impala Platinum Holdings Limited. 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 James Motlatsi 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 Neville Cornish Non-executive Director Civil engineer; more than 40 years mining, property development and engineering experience; highly successful entrepreneur, business manager; Remuneration Committee Chairman Roy Traviss Non-executive Director Geologist; former Technical Director and Managing Director of Zaaiplaats Mining; former director of Zimco Industries; Chairman of Platfields Audit Committee 24

25 Advisors Corporate advisor and sponsor Competent Person PricewaterhouseCoopers Corporate Fi inance Rock & Stock Investments Independent technical advisor Reporting accountants and auditors Attorneys Attorneys, corporate advisor in Canada Share Registrar Golder Associates Grant Thornton Bowman Gilfillan Inc Macleod Dixon Computersh are Investor Services 25

26 Postscript: South Africa under Zuma Change induced some nervousness a natural reaction But consider: peaceful transitions from Mandela to Mbeki to Motlanthe and now Zuma, with overwhelming voter and public support solid past successes under democratic rule sharply curbed budget deficits with conservative economic policies reduced government debt solid banking sector with no need for public finance bailouts, inter banking lending rates normal vibrant economy with an exciting Fifa World Cup 2010 coming up 26

27 Postscript: South Africa under Zuma, cont d Gordhan as Minister of Finance track record of success restructuring South African Revenue Service Patel as Minister of Economic Development bridge between labour movement and government on critical social delivery Prognosis: collegial type of cabinet with experience and new blood inclusive (SA Communist Party, lab bour movement, and the rest) centrally co-ordinated planning led by Minister Trevor Manuel necessary checks and balances 27

28 Bongani Mbindwane, CEO BAC Platinum Day London, Zurich, Basel, Lausanne, Geneva, Lugano May 2009