PLATMIN LTD 
By Overburden and internal waste hauled for the current quarter was 3.2 million bulk cubic metres (mbcm) (Q3: 2,4mbcm). Waste hauled fell short of the quarterly 5.0mbcm required to expose sufficient reef to fill the concentrator with fresh ore and to establish effective reef buffer stocks at the ROM tips. However, rapid progress was made by Benhaus and Trollope, the additional load/haul contractors appointed during Q3 2011, towards contracted volumes of 300 000bcm rock hauled per contractor per month. By December 2011, each contractor was loading at a monthly rate of 150 000bcm.
Reef hauled during the current quarter was 627 000 tonnes (Q3: 363 000 tonnes). Despite the Christmas holiday period, traditionally a difficult period for the local mining industry, and a nine-day Section 54 suspension of operations by the Department of Mineral Resources (DMR) during January, there is evidence that this improving trend will continue, and that further improvements will be realised during Q1 2012 and beyond.
Several practical short-term initiatives are under way to improve feed grades to the concentrator. A longer-term initiative is upgrading the pseudo package by removing internal waste prior to feeding the mill. If successful this would increase feed grades and reduce feed volumes, thus creating additional milling capacity.
The assay results from the diamond drill programme over Sedibelo West were received at the end of January. The geological structural and resource models required for a revised life of mine (LOM) plan incorporating Sedibelo West have been completed and validated by Snowden. Revised Mineral Resources and Reserve estimates and LOM plans for the combined Tuschenkomst/Sedibelo West ore body will be published with the FY2011 annual financial statements.
We continue to engage with the DMR on our amended environmental management programme, which involves flooding the pit on mine closure. This proposal incorporates significant benefits for all stakeholders.
Our application to the DMR for the incorporation of the Sedibelo West mining rights into Tuschenkomst is following due legal process.
The project to consolidate the platinum mineral rights of the Western Limb of the Bushveld Complex continues to make progress.
Charmane Russell
Russell & Associates
+27 11 880 3924
+27 82 372 5816
Forward-looking statements in this market release, amongst others, forecast production reaching a monthly rate of 12,000 4E ounces by mid FY2012; approval of an amended Environmental Management Plan; recovery rates and grade; targets, estimates and assumptions in respect of 4E metal prices and production; allocation of funds for current commitments; and the timing and completion of definitive feasibility engineering studies at the Mphahlele, Grootboom and Loskop Projects.
