quarterly, page-3

COMPANY HIGHLIGHTS
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First coal shipments from Richards Bay Coal Terminal (?RBCT?)commence under EDF Trading off-take agreement with 65,906 tonnes shipped during the Quarter
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Export thermal coal sales and railings from the Ferreira Mine and Delta Processing Operations increase by 53% on the previous quarter to 129,971 tonnes
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Quarterly run-of-mine coal production of 318,800 tonnes from the Vlakvarkfontein and Ferreira mines represents a 24% increase on production in the December quarter
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Run-of-mine coal production at the Ferreira mine increases by 51% quarter on quarter to 128,232 tonnes
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Domestic thermal coal production of 216,533 tonnes from Vlakvarkfontein with a 91% increase in sales to 200,195 tonnes for the March quarter and closing stockpile balance of 191,788 tonnes
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Completes consolidation of its interests in the Vaalbank and Project X Coal Projects with the Company?s South African subsidiary now holding a 75% and 70% interest respectively in the projects
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Don Turvey, the Company?s Chief Executive Officer, appointed to the Board
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Completion by the Company?s joint venture partners, Korea's State Mining and Exploration Company ("KORES") and the Company's Black Economic Empowerment partner, Masawu Investments (Pty) Ltd ("Masawu"), of the financial settlement for the acquisition of the Vlakplaats Coal Project
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Key executives and consultants complete site visit to the Company?s Serowe and Kweneng Botswana coal projects with independent South African consulting geologists, Gemecs (Pty) Ltd (?Gemecs?) appointed to finalise the planned exploration and drilling programs for each of the projects