$16mill sales this qtr - is this enough, page-4

CCC has a 64% interest in Ferreira - when the remaining 36% of Mashala is acquired later this year for approx $19m (deadline is Nov 2011) then all revenues from Ferreira will be attributable to CCC.

If current production/sales rates of 48Ktpm are maintained = 576mtpa * current margins of $43 = Annual operating profits of $24,768,000 * 64% = $15.85m

Then we have approx. 120ktpa domestic product (using figures in today's ann.) at $5pt = $600,000 * 64% = $384,000

Ferreira total annual op. profits = $16,234,000

plus

1.2mtpa VlkVk at $5 margins = $6m (100% attributable as discussed before with BEE shareholdings not yet receiving profits/revenue)

annual op. profits from both mines: $22,234,000

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should be enough to keep the creditors happy.