Northam Platinum Holdings Limited · JSE:NPH

Northam Platinum — FY2011 Earnings Presentation

30 slides from Northam Platinum's earnings presentation, Aug 18, 2011

  1. Slide 1: Glyn Lewis, CEO – 18 August 2011

    Glyn Lewis, CEO 18 August 2011

  2. Slide 2: Forward-looking statements

    Forward-looking statements Certain statements in this presentation (other than the statements of historical fact) may contain forward- looking statements regarding Northam’s operation, economic performance or financial condition, including, without limitation, those concerning the economic outlook f

  3. Slide 3: Key features from the results

    Key features from the results • Zondereinde production down 22.2% to 7 779 kg (250 110 oz) • 65 out of 301 production days lost (22%) at Zondereinde (37 strike; 28 safety related) • Satisfactory progress at Booysendal • necessary regulatory permits received; construction started • Metal sales 19.8%

  4. Slide 4: Safety statistics

    Safety statistics Injury incidence rates per 200 000 man hours 6 5.0 5 4.1 4 3 2.5 2.3 2.3 2.3 2.1 2 1.5 1.3 1.0 1 0.8 1.2 1.3 1.2 1.3 1.0 1.0 1.0 1.0 0.7 0.6 0.5 0 F2001 F2002 F2003 F2004 F2005 F2006 F2007 F2008 F2009 F2010 F2011 LTIIR RIIR 4

  5. Slide 5: Zondereinde operating performance

    Zondereinde operating performance 2011 2010 Change Merensky tonnes milled 793 490 1 002 208 -20.8% Merensky head grade (g/t) 5.6 5.9 -5.1% UG2 tonnes milled 797 355 1 036 017 -23.0% UG2 head grade (g/t) 4.3 4.5 -4.4% Total tonnes milled 1 590 845 2 038 225 -21.9% Average combined head grade (g/t) 4.

  6. Slide 6: Zondereinde – mine plan

    Zondereinde — mine plan NORTHAM

  7. Slide 7: Zondereinde – north-west quadrant

    Zondereinde – north-west quadrant 12 13 14 15 16 17 18 19 20 21 22 23 Big John Dyke 7

  8. Slide 8: Zondereinde – south-west quadrant

    Zondereinde – south-west quadrant Big John Dyke 8

  9. Slide 9: Financials

    Financials F2011 F2010 Income statement Change (R000) (R000) Sales revenue 3 571 048 3 945 083 -9.5% Cost of sales 3 185 754 3 160 108 0.8% Operating profit 385 294 784 975 -50.9% Share of earnings from associate 7 248 12 440 -41.7% Investment income 85 520 167 655 -49.0% Net sundry income / (expend

  10. Slide 10: Cash flow statement

    Cash flow statement F2011 F2010 Change (R000) (R000) Cash flows from operations 785 195 862 411 -9.0% Investing cashflows (212 946) (395 965) Financing cashflows (61 105) (200 640) Net increase/(decrease) in cash and cash 511 144 265 806 equivalents Cash and cash equivalents at beginning of period 1

  11. Slide 11: Comparative unit cash costs

    Comparative unit cash costs F2011 F2010 Change Rand/tonne milled 1 502 1 176 27.7% R/kg (3PGE+Au) – total mine production 279 118 215 900 29.3% $/oz (3PGE+Au) – total mine production 1 238 885 39.9% 11

  12. Slide 12: Rand basket price

    R/kg 100 000 200 000 300 000 400 000 500 000 600 000 Jul-08 Jul-08 Aug-08 Sep-08 R184 213 Oct-08 R322 814 Nov-08 Dec-08 Jan-09 Feb-09 Mar-09 R218 736 R246 028 Apr-09 Rand basket price May-09 Jun-09 Jul-09 Aug-09 Sep-09 R254 913 Oct-09 R196 273 Nov-09 Dec-09 Jan-10 Feb-10 Mar-10 R321 350 R237 702 Apr

  13. Slide 13: Marketing

    MARKETING =: « |Z ai es > O- =. 2

  14. Slide 14: Market review

    Market review • Autocatalysts • recovery in Pt and Pd autocatalyst demand throughout 2010 into 2011 • gross automotive demand • Pt 3.1 million oz, Pd 5.4 million oz, Rh 725koz • EU – rebound in vehicle sales; gain in diesel share; Euro 5 legislation • China – maintains status as world’s largest car

  15. Slide 15: Market review

    Market review • Industrial • 2010/11 recovery in established markets; growth in emerging markets • Pt demand 1.7 million oz; Pd demand 2.5 million oz • bolstered by glass, chemical and electrical sectors • Investment • Pt – growth in US funds; bouts of profit taking in European funds • Pd – resurgen

  16. Slide 16: Summary outlook

    Summary outlook • Autocatalyst • growth in vehicle production expected to continue • Japan - recovery progressing • Jewellery • challenging high price environment • Pt sales 2011 to-date encouraging, notably China • higher relative prices of competing metals • Industrial - chemical, glass, electrica

  17. Slide 17: Booysendal

    BOOYSENDAL 17

  18. Slide 18: Booysendal – project update

    Booysendal – project update • Mining and environmental permits including a water use licence received • Focus now on development and construction • on-reef and reverse decline boxcuts complete and handed over to mining contractor • primary development started, ventilation adits well advanced • bulk

  19. Slide 19: Booysendal progress

    Booysendal progress Access road next to Der Brochen dam showing 11kVA power lines, water pipeline and pipe storage area 19

  20. Slide 20: Booysendal progress

    Booysendal progress NORTHAM

  21. Slide 21: Booysendal progress

    Booysendal progress © NORTHAM AQWUILRSUTS 20,une 2011 wresethono0

  22. Slide 22: Booysendal progress

    Booysendal progress NORTHAM

  23. Slide 23: Booysendal progress

    Booysendal progress NORTHAM

  24. Slide 24: Key issues going forward

    Key issues going forward • Zondereinde mine • wage negotiations • safety • production • costs • Booysendal mine • project construction • finalise funding • Corporate • finalise AQP transaction • Mvela assets 24

  25. Slide 25: Thank you

    THANK YOU 25

  26. Slide 26: Sales volumes

    Sales volumes F2011 F2010 Change (kg) (kg) Platinum 6 118 7 546 - 18.9% Palladium 2 821 3 617 -22.0% Rhodium 732 891 -17.8% Gold 201 259 -22.4% Total (3PGE+Au) 9 872 12 313 -19.8% Ruthenium 999 1 351 -26.1% Iridium 241 293 -17.7% Copper (tonnes) 777 930 -16.5% Nickel (tonnes) 1 372 1 752 -21.7% 26

  27. Slide 27: Sales volumes

    Sales volumes F2011 F2010 Change (oz) (oz) Platinum 196 688 242 596 - 18.9% Palladium 90 710 116 302 -22.0% Rhodium 23 550 28 656 -17.8% Gold 6 446 8 325 -22.4% Total (3PGE+Au) 317 392 395 879 -19.8% Ruthenium 32 135 43 448 -26.1% Iridium 7 752 9 340 -17.7% Copper (tonnes) 777 930 -16.5% Nickel (ton

  28. Slide 28: Sales prices realised (Rands)

    Sales prices realised (Rands) F2011 F2010 Change (R/kg) (R/kg) Platinum 382 245 353 507 8.1% Palladium 150 703 93 417 61.3% Rhodium 508 056 532 924 -4.7% Gold 308 068 266 528 15.6% Total (3PGE+Au) 323 899 288 255 12.4% Ruthenium 40 615 34 876 16.5% Iridium 190 361 114 368 66.4% Copper (R/t) 56 613 4

  29. Slide 29: Sales prices realised (US$)

    Sales prices realised (US$) F2011 F2010 Change ($/oz) ($/oz) Platinum 1 698 1 452 16.9% Palladium 671 384 74.7% Rhodium 2 251 2 193 2.6% Gold 1 368 1 093 25.1% Total (3PGE+Au) 1 439 1 185 21.4% Ruthenium 180 144 25.0% Iridium 849 468 81.4% Copper ($/t) 8 073 6 477 24.6% Nickel ($/t) 22 532 19 592 15

  30. Slide 30: Shareholder information and contact

    Shareholder information and contact Northam Platinum Limited 1st Floor, 1A Albury Park Magalieszicht Avenue Dunkeld West Johannesburg 2196 South Africa Tel: +27 11 759 6000 Fax: +27 11 325 4795 Email: [email protected]; [email protected] Website: www.northam.co.za

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