vanmag proceeding, page-2

US$10m Sale of VanMag Shareholding

The Company has received confirmation from its lawyers that a further approx. US$3m of the US$10m total sale proceeds due from the purchaser has been received. Settlement of the sale of the Company's shareholding in VanMag remains on track for settlement later this month.

In December 2012, the Company confirmed that it had received an initial non-refundable payment by the purchaser of approx. US$1m (refer ASX Announcement dated 6 December 2012).

The outstanding amount now due on the sale of VanMag of approx. US$6m is scheduled to be received from the Chinese purchaser later this month upon execution and handover of the final settlement documentation and share transfer
deeds.

The proceeds from the sale of the Company's shareholding in VanMag are to be used to fund all remaining amounts due for the outstanding minority interests in Mashala Resources not already held by the Company's principal subsidiary in
South Africa

http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11493343

http://www.asx.com.au/asxpdf/20130219/pdf/42d3vrqnrn8zhp.pdf