Northam Platinum Holdings Limited · JSE:NPH

Northam Platinum — Merger or Acquisition (January 2008)

17 slides from Northam Platinum's merger presentation, January 2008

  1. Slide 1: The Booysendal Project: Revised transaction

    The Booysendal Project Revised transaction January 2008 Introduction – Lazarus Zim 2 1

  2. Slide 2: Introduction

    Introduction • Revisions to transaction announced in September 2007 • We said it was a ‘win-win’ transaction – it still is • Agenda for today • Transaction update – Pine Pienaar • Project update - Glyn Lewis • Questions 3 Transaction update – Pine Pienaar 4 2

  3. Slide 3: Progress to date; Amendments to the transaction

    Progress to date Completed • Agreement reached with Anglo Platinum on ancillary assets: • Electrical power (16MVA) • Water (7 Megalitres per day) • Tailings dam sites (Der Brochen or Booysendal) • Access to Booysendal (over Der Brochen) • Competition Board approval obtained Outstanding • CPR in prog

  4. Slide 4: Time line to completion

    Time line to completion Circular to shareholders March 2008 Shareholders’ meetings April 2008 Conclusion of transaction May 2008 7 Exploring the upside at Booysendal – Glyn Lewis 8 4

  5. Slide 5: To recap… Booysendal brings to Northam

    To recap… Booysendal brings to Northam • Larger, more diverse asset base - significantly reducing risk profile • Potential to at least double production • Mineral resource ± 100 yrs LOM • Reduction of average unit costs • Control of fully independent beneficiation stream mine 9 to market • Solid BEE

  6. Slide 6: Revisions to the transaction

    Revisions to the transaction So: • Northern boundary extended by 1.3km (Booysendal extension) – N preliminary estimates suggest that this area may contain an additional Mineral Resource of 9.0Moz 4PGE. And: • 121 million Northam shares to 14.5km Mvela Resources 11 MR 5 km UG2 Project context: minera

  7. Slide 7: Project context: mineral resources

    Project context: mineral resources 140.00 Attributable PGM 4E koz 120.00 100.00 80.00 60.00 40.00 20.00 0.00 13 Good progress to date • Ancillary agreements • Electrical power • Water • Tailings dam sites waste • Access to Booysendal • CPR nearing completion 14 7

  8. Slide 8: Project context: the neighbourhood

    Project context: the neighbourhood N Two Rivers Mototolo Eastplats Der Brochen Eastplats - Sylvania 37km Everest Booysendal 14.5km 15 MR 5 km UG2 Getting to know the project 8km N St George’s Fault UG2 outcrop Merensky outcrop Project boundary 14.5km 16 Der Brochen Valley 8

  9. Slide 9: Project context: completed drilling

    Project context: completed drilling Hebron Der Brochen 5 JT 7 JT Johannes- burg 45 JT N Pietersburg Booysendal Initial target area 44 JT 43 JT Uysedoorns 47 JT Buttonshope 51 JT Draaikraal 48 JT Sheep- run 50 JT Legend UG2 Outcrop Kliprivier 17 Merensky Outcrop 73 JT Boreholes 0 4km Merensky & UG2 r

  10. Slide 10: Indicative mine planning – initial target area

    Indicative mine planning – initial target area Land surface UG2 Decline systems 19 Indicative mine planning – initial target area UG2 decline systems 2km Merensky decline systems 1.5km 7.5km UG2 stoping 20 1.5km Initial target area – 30 year life 10

  11. Slide 11: Merensky and UG2 mining layout

    Merensky mining layout Conventional narrow tabular mining array 3 barrel decline system All development In footwall Cross-cut 21 Footwall drive UG2 mining layout 3 barrel decline portal Shaft portals 22 11

  12. Slide 12: UG2 mining layout; Infrastructure

    UG2 mining layout Mechanised mining array 2 declines on reef Central conveyor decline in footwall 23 Infrastructure 8km Roads, power & water Concentrator Tailings 14.5km 24 12

  13. Slide 13: Indicative production build up; Conceptual capital forecasts

    Indicative production build up ktpm 450 400 350 300 250 200 150 100 50 0 2010 2011 2012 2013 2014 25 Conceptual capital forecasts • Total estimated capex of R7.1 billion (excluding smelting) Housing 4% Surface infrastructure 6% Tailings dams 8% Mining 54% 26 Concentrator 28% 13

  14. Slide 14: Capex underpinned by production build-up; Funding

    Capex underpinned by production build-up ktpm R million 450 3000 400 2500 350 300 2000 250 1500 200 150 1000 100 500 50 27 0 0 2009 2010 2011 2012 2013 2014 Build-up (ktpm) Initial Capex (R million) Funding • Debt or equity, or a combination • Internal cash flows or resources from Northam and Mvela

  15. Slide 15: Rapidly into production; Smelting and refining

    Rapidly into production 2008 2009 2010 2011 2012 2013 2014 Pre feasibility study Bankable feasibility study Mining Decline 1 Portal Mining Decline 2 Portal Mining Decline 3 Portal Mining Decline 4 Portal Mining production from underground Decline 5 Portal Mining commission concentrator Concentrator

  16. Slide 16: Questions addressed; Key points

    So, hopefully we have addressed all of your questions • What is the extent of this orebody • Is there access to infrastructure? • How are we going to mine Booysendal? • What about smelting and refining? • How will we fund the project? 31 Key points • Additional area secured for Booysendal – extended

  17. Slide 17: Key points (continued)

    Key points (continued) • Throughput of no less than 400ktpm from up to 5 decline systems • Conceptual capex of R7.1 billion secures life of up to 30 years • Possible expansion of smelting facility at Northam – additional revenue stream? • Significant growth potential risk diversification and value a

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