Northam Platinum Holdings Limited · JSE:NPH

Northam Platinum — Investor Presentation (February 2009)

14 slides from Northam Platinum's investor presentation, February 2009

  1. Slide 1: For discussion

    For discussion • The new Northam • Adding g life and flexibility y to the Zondereinde mine • Leveraging mine to market capability • Booysendal – on track and on schedule • The Northam investment case 2 1

  2. Slide 2: The new Northam / Zondereinde mine – quick overview

    The new Northam Diversifying the asset base, mitigating risk, adding shallow ounces 100% 100% 100% Northam Booysendal Zondereinde mine metallurgical processing platinum project Heraeus refining 3 Zondereinde mine – quick overview First production 1993 Produced to date 5 Moz (4E) Production p/a 320 0

  3. Slide 3: Comparative unit cash costs

    Comparative unit cash costs H1 F2009 H1 F2008 Change Rand / tonne milled – total1 822.87 768.29 7.1% R/kg (3PGE+Au) – total 184 213 167 828 9.8% Rand / tonne milled – on mine2 759.69 712.05 6.7% R/kg (3PGE+Au) – on mine 170 070 155 545 9.3% 1 Total costs refers to mining, concentrating, smelting and

  4. Slide 4: Extending the LOM: level decline project

    Extending the LOM: 18 level decline project • Exploration drilling programme: 9 holes completed • three surface boreholes confirm normal reef • six additional holes from hangingwall drive on 13 level for reef definition • further drilling planned from hangingwall drive on 12 level • currently drilli

  5. Slide 5: Routine capex going forward / Processing advances promote flexibility

    Routine capex going forward 9 Processing advances promote flexibility Head grade Tonnes milled (3PGE+A 1 800 000 65 6.5 2.5:1 1 600 000 2.2:1 2.0:1 6.0 1.6:1 1 400 000 1.4:1 5.5 1 200 000 1.1:1 1 000 000 5.0 800 000 4.5 1.0:1 600 000 4.0 400 000 3.5 200 000 0 3.0 F2003 F2004 F2005 F2006 F2007 F2008

  6. Slide 6: Independent mine to market capability

    Independent mine to market capability • Concentrator plants, reliable smelter and base metals removal plant • Smelter rebuild and upgrade completed on schedule and within budget • Tradition of innovation, improving recoveries • Leveraging capacity, offtake agreements concluded • Lowering barriers to

  7. Slide 7: Demystifying the Braemore relationship / Northam into the future

    Demystifying the Braemore relationship • Toll treatment arrangement • approximately 3 000 tpm of high-chrome, high-grade u/g material • previously batch-treated at Northam • Braemore returns alloy to Northam for further processing • metal enters Northam’s sales pipeline • Benefits for Northam • remo

  8. Slide 8: To recap – locality / Preliminary implementation schedule

    To recap – locality 1A 1B 14.5km 1D 1C 15 Preliminary implementation schedule Booysendal capex estimate Jan 2009 C2009 C2010 C2011 C2012 C2013 Bankable feasibility study Project set-up and site establishment Mining Decline 1 Portal Mining Decline 2 Portal Mining Decline 3 Portal Mining Concentrator

  9. Slide 9: Capex spread and production build-up

    Capex spread and production build-up 140 000 140,000 1000 900 120,000 Tonnes pm / Ounces pa 800 100,000 700 R million 80,000 600 500 60,000 400 40,000 300 200 20,000 100 R70m 0 0 2009 2010 2011 2012 2013 2014 Production build-up (ktpm) ounce profile Initial capex (Rm) 17 H1 2009: key features from t

  10. Slide 10: Cash positive at current prices / Northam investment case

    Cash positive at current prices Rand basket Price (spot) R/kg (3PGE+Au) 700,000 600,000 R533 566 500,000 R467 203 R406 837 400,000 R311 089 R297 792 300,000 R236 706 200,000 R183 290 R184 610 R183 798 R167 612 R166 823 R175 620 100,000 Oct-07 Apr-08 Oct-08 Aug-07 Aug-07 Sep-07 Nov-07 Dec-07 Aug-08 S

  11. Slide 11: Investor Meeting February 2009

    INVESTOR MEETING February 2009 INVESTOR MEETING February 2009 11

  12. Slide 12: Investor and market data / Sales volumes

    Investor and market data • JSE listing since 1987 (NHM) • Member of JSE SRI Index since 2006 • Included in the MSCI Emerging Market Index in 2008 • Planning in place for ADR programme in North America Only independent, fully integrated black-owned PGM producer with ownership of full beneficiation st

  13. Slide 13: Cost of sales / Revenue contributions

    Cost of sales H1 2009 H1 2008 Change (R000) (R000) Sales volumes (kgs) 4 599 4 173 10.2% *Operating costs – on mine 896 823 740 224 21.6% Concentrates purchased 14 029 - - Smelting, refining and realisation 151 317 92 680 63.3% Depreciation 106 897 71 999 48 5% 48.5% Change in metal stocks (158 846)

  14. Slide 14: Sales revenue

    Sales revenue H1 2009 H1 2008 Change (R000) (R000) Platinum 916 365 795 947 15 1% 15.1% Palladium 94 687 95 825 1.2% Rhodium 455 785 396 289 15.0% Gold 17 818 10 963 62.5% Total (3PGE+Au) 1 484 655 1 299 024 14.3% Ruthenium 20 420 66 203 -69.2% I idi Iridium 16 616 10 354 60 5% 60.5% Copper 15 329 1

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