Ann: Quarterly Activities Report for December 201, page-5

re: Ann: Quarterly Activities Report for Dece... Thanks martis. Could you give some basis as to why.

Just read the highlights by the way.

They dont add up to me!

Im in for the trade martis. Enjoy.

COMPANY HIGHLIGHTS
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Total run-of-mine thermal coal production of 474,934 tonnes at the Ferreira and Vlakvarkfontein Coal Mines
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Record production of 156,494 tonnes of a high quality export thermal coal product for the Quarter from the Delta Processing Operations
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Export thermal coal sales for the Quarter at record levels and increase quarter on quarter by 36% to 178,450 tonnes
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Record revenue and earnings of ZAR143m and ZAR21.0m for the Ferreira Coal Mine
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Ferreira and Vlakvarkfointein Coal Mines generate record unaudited aggregate EBITDA of ZAR36.9 for the Quarter, a 28% increase on the previous quarter
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Development of the Company’s third mine, Penumbra Coal continues on budget and schedule with mobilisation of contractor to complete the decline development
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Bankable Feasibility Study on the De Wittekrans Coal Project confirms a technically and economically viable project with potential to generate significant returns
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Sishen Iron Ore Company Community Development Trust executes Subscription and Shareholder Agreements to become the Company’s new Broad Based Black Economic Empowerment partner in South Africa
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Acquisition of the Wolvenfontein Coal Project completed
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Company satisfies key conditions precedent of the secured debt funding from ABSA Capital, one of South Africa’s largest financial service providers
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Exploration drilling program in Botswana intersects major coal bearing carbonaceous zones with analytical results pending
The second quarter of the 2011/12 financial year