Andy has more than 30 years experience in the minerals industry, from field geology, research, and mineral resource management to commercial due diligence and evaluation of a wide range of local and international mineral assets. He has more than 20 years of experience working with commercial banks and financial institutions on transactions in the minerals industry, and has been involved in the preparation of numerous codes and rules for compliance and reporting in the public domain.

Andy bought out his business partner in February 2005 and introduced several minority shareholders subsequently. He continues leading the Venmyn team in mineral asset valuation and independent reporting on mineral asset transactions for the market. Andy was also appointed to the JSE Securities Exchange Issuer Services Advisory Service as part of his on-going involvement in compliance and rule monitoring.

Andy has also assisted in a number of M&A transactions as a strategic advisor and negotiator. Under his stewardship, Venmyn continued to grow its reputation as an Independent Trusted Advisor to the industry and Andy has appeared as an expert witness. In recent times, Venmyn has continued to emphasise its competence in providing Fairness Opinions and in the preparation of Pathfinder documentation for sales and disposals.

Andy also continues his involvement in the re-write of the SAMREC Code and the development of the SAMVAL Code.

Catherine has spent more than 17 years in the minerals management business, and has gained extensive experience in the valuation and technical due diligence of mining and mineral projects in South Africa, and in Africa as far north as Egypt. Catherine has worked on projects involving precious metals, base metals, precious and gem stones, industrial minerals and energy-related commodities. She specialised in the compilation and writing of documentation required for both local and international stock exchanges. In this respect, she has completed a large number of Competent and Qualified Persons’ Reports. She has also completed a number of commodity and market reviews for a range of commodities, including chrome, ferrochrome, platinum, diamonds and phosphate.

Catherine's particular areas of expertise are in the coal and diamond industries, where she has been involved in projects ranging from exploration management through to the development and valuation of projects and mining operations. She has also travelled extensively in Africa, assessing these types of projects. Catherine has represented the Geological Society of South Africa’s disciplinary committee with respect to the implementation of the SAMREC Code and the JSE Listing Rules.

After 20 years in public relations, Sheila had a career change and decided to run the finances and administration of the closed corporation that her husband owned. After six years, she decided to broaden her experience, and worked for Zeltis (Pty) Ltd and then for Madi Sussens Public Relations as administrative manager. In 1999, she joined Venmyn Rand (Pty) Ltd as administrative manager, responsible for finance, personnel and administration.

M.Sc.Geology, Pr.Sci.Nat, MGSSA, MSAIMM

Neil Mc Kenna has more than eight years experience in the minerals industry, in research, exploration and resource project management, and, more recently, in mineral project assessments, due diligences and valuations. Neil has worked on projects involving precious metals, base metals, precious and gem stones, industrial minerals and energy related commodities.

Neil's current areas of speciality include public reporting of mineral assets, utilising International Valuation Standards (IVS), the South African code for reporting of Mineral Resources and Reserves (SAMREC Code), the South African code for the valuation of mineral projects (SAMVAL Code), the Australasian Code for the reporting of Identified Mineral Resources and Ore Reserves (JORC Code) and the National Instrument (NI 43 - 101) Code. In this respect, Neil has completed a number of Competent and Qualified Persons’ Reports for company listings on various international stock exchanges as well as other regulatory reporting.

Neil is also particularly interested in the financial valuation of mineral and mining projects, having completed a number of valuations for a range of commodities, including diamonds, coal, platinum, manganese, zinc and gold. As part of the Venmyn team, Neil is using his strong innovation skills to continue to evaluate improvements in mineral asset definition, valuation and reporting standards.

B.Sc. Hons (Geol), Pr.Sci.Nat

Fiona is a senior minerals advisor for Venmyn and was a senior mineralogist for Anglo American Research Laboratories, where she was responsible for research on numerous kimberlites in Botswana. Fiona is assisting Andy Clay in the SAMI investment initiative and has focused, in particular, on the preparation of independent technical and economic reports on mineral assets for various international stock exchanges, as well as mineral asset prospectivity reviews.

Fiona's practical business skills, together with her geological background, have prepared her for a role as a compliance officer, researcher and writer of expert documents. She is currently involved in the ongoing refinement of the SAMREC Code and works in close association with the JSE Limited to streamline and improve the technical reporting process. Fiona is particularly active in the creation of pathfinder documents for the sale and disposal of mineral assets.

Derick graduated from the Cape Peninsula University of Technology with a Baccalaureus Technologaie Degree in Chemical Engineering (Cum Laude) in 1997. He completed the Wits Business School's Management Advancement Programme (Cum Laude) in 2006 and is registered by the Engineering Council of South Africa. Derick has broad experience in the metallurgical and minerals processing industry.

During the last five years, Derick acted in a senior managerial position for international design and mining companies.

He completed mine evaluation projects and trade-off studies, ranging from conceptual/scoping, pre-feasibility and definitive/bankable feasibility studies.

He completed projects in a wide range of commodities, including gold, platinum, copper, diamonds, coal, uranium and formic acid. Derick has been involved in the technical and business aspects of due diligence studies and audits. He has performed comprehensive forward analyses of the various economic parameters used by financial institutions to assess the creditworthiness of projects for financing. These analyses included the performance of comprehensive financial analyses over the life-of-mines, by developing pre- and post-tax financial evaluation models to determine the net present value and internal rate of return of projects.

M.Sc (Min. Eng), MRM
B.Sc.Hons (Min. Eng), Grad CIS
MSAIMM, Pr Eng, MIAS

Godknows has considerable experience in the minerals industry, from mine production, mining research, mine planning and optimisation, management accounting, costing analysis and project feasibility studies of various commodities, including PGMs, Au, Ni and Coal. His mining career started in 2000, at Rio Tinto Zimbabwe’s gold mines, where he worked in various capacities. This gave Godknows a solid understanding of mining and the evaluation of mining projects. His key areas of expertise lie in a combination of skills, including technical and financial analysis, mining engineering, financial and management accounting, and corporate governance. Mineral asset valuation, compliance and public reporting of mineral assets for the various stock exchange jurisdictions are his core focus areas. Together with experience in both technical and corporate finance, he has consolidated his expertise in the detailed financial valuation of mineral and mining projects.

Godknows has a special interest in the public reporting of mineral assets, mineral asset valuation and compliance, with focus on the following codes and standards:- IAS, IFRS, IVS, SAMREC Code, SAMVAL Code, JORC Code and the National Instrument 43 – 101 Code. Godknows serves on different committees involved in the preparation of these codes and guidelines.

BSc. (Hons.) Geology
MGSSA

Mpai joined Venmyn in 2008. She previously worked at State metallurgy company Mintek as a junior mineral economist and at dimension stone company Finstone as a technical assistant to the technical director. She is intends converting her GDE (Mining) at Wits into a MSc. Her interests lie in the legal and environmental issues relating to mineral projects and transactions and, as such, she is the champion of Environmental Statements for Venmyn. To date, Mpai’s experience has included involvement in a wide range of commodities, including cement, tin, limestone, coal, tantalum, tungsten, zinc, lead, iron-ore, and dimension stone, among other commodities.

B.Sc. (Hons) Geology
MGSSA

Richard joined Venmyn in 2008. Venmyn is Richard's first full-time appointment; however, he has had two years of experience working as a laboratory assistant at SPECTRAU on the XRD and in sample preparation during his studies at the University of Johannesburg.

Richard has held various vacation positions including, but not limited to, experience on drilling projects, geo-hydrology and environmental remediation of hydrocarbon-soil contamination plumes. Richard began courses for his M.Sc in 'Mineral Economics' at Wits in 2009. His interests lie in the financial and feasibility issues surrounding mineral projects, as well as the resource modelling, resource estimation and the geostatistical side of mineral project reporting. To date, Richard’s experience has included involvement in a wide range of commodities, including diamonds, coal, base metals, iron ore, tantalum-niobium, rare earth elements, tungsten and uranium, among other commodities.

Munyar is yet another addition to the Venmyn team, having joined in 2008. Venmyn is Munyar’s first full-time appointment, but his work experience includes an industrial attachment programme with Maranatha Ferrochrome, in Zimbabwe, which he completed while at university, studying towards his B.Eng. degree in Chemical Engineering.

Munyar’s key areas of expertise are the techno-economic valuation of mineral assets and mining projects W22; using the market approach method, and the application of Beta calculations to predict market movements with the change of commodity prices W22; as well as strategic analyses of different industries. He has also gained experience in mineral asset valuation using the South African code for the valuation of mineral projects (SAMVAL Code) and other internationally recognised codes, such as Cimval, Valmin and IVS.

Gbenga has six years experience as a researcher and industry analyst. He has spent four of the six years working in the mining industry, carrying out research on minerals policy, and undertaking commodity reviews and industry analyses. Prior to joining Venmyn in 2008, he worked as a business analyst for a management consulting firm. During this period, he developed a risk methodology for assessing country investment risk, and wrote country reports on various African countries as well as strategic industry reports.

At Venmyn, Gbenga undertakes techno-economic valuations of mineral assets and mining projects using the market approach method, develops and updates Venmyn’s database for transactions taking place in the mining industry, develops various commodity valuation curves, and carries out both commodity and industry market research. Working at Venmyn, he has gained experience in mineral asset valuation using the South African Code for the valuation of mineral projects (SAMVAL Code) and other internationally recognised codes, including Cimval, Valmin and IVS. He intends developing expertise in the valuation of mineral assets using the discounted cash flow method.

Corporate Reporting Specialist

Member of the Investment Analyst Society (IAS) and Chairperson of the judging panel for the IAS special award for SAMREC Compliancy in Annual Reporting

Tanya is a co-director and shareholder of Interaction (Pty) Ltd. Interaction provides corporate reporting and identity services to the mining industry and other industries. When required, Interaction draws on the expertise of Venmyn (Pty) Ltd, which holds a share interest in the company. Key attention is put into compliance when it comes to annual, quarterly and corporate reporting, as well as looking at triple-bottom-line issues. With her background, and over 10 years experience in marketing and graphic design, she also presents talks to a variety of audiences, including MEETI, covering topics such as ‘Do's and Don'ts of Annual Reporting’ and ‘How to present a compliant Mineral Reserve and Resource Report and Technical Statement - the Door to Short Form Reporting’.

Evelyn joined Interaction as a graphic designer. She has over 15 years marketing and desktop publishing experience in a wide range of industries. With her analytical and technical background, she can easily interpret mechanical and procedural data visually.

Mariaan has five years experience in desktop publishing, and a background in business communication and graphic design. She has worked for Interaction for two years, and specialises in document layout and maps.

Carina has had extensive experience in the evaluation and technical due diligence of mining and mineral projects in South Africa and in Africa . She has authored a large number of Competent Persons’ Reports as a member of teams on feasibility and other studies, for both local and international stock exchanges.

Carina's particular areas of expertise are in the incorporation of a basic understanding of the geology of an ore deposit into its geostatistical modelling and in the interpretation of geological, geophysical and satellite information, with a view to exploration target generation. She has been involved in projects ranging from generating exploration targets, guiding drilling campaigns, evaluating Mineral Resources and auditing Competent Persons’ Reports. She has also managed the development of major Resource and Reserve calculation systems for mining companies.

Tony has over 40 years of experience in geology. Some 26 of these were in exploration projects for a large international mining company. He has been in private practice since 1996. His key speciality areas include kimberlite and alluvial diamond exploration and project evaluation, and Competent Persons’ Reports and Due Diligence Studies, particularly as applicable to diamond projects. He is a member of the Geological Society of South Africa, South African Geophysical Association, South African Archaeological Society and Society of Exploration Geochemists.

Martyn has 28 years experience in the South African mining industry in gold, coal, base metal and PGM ores, in operation, design, management, research and consulting. His experience is varied, and includes positions as a consulting metallurgist for Lonmin, South Africa, and mining analyst for a stockbroking firm in London. Martyn formed Eurus Mineral Consultants (“EMC”) early in 2002. EMC offers specialist milling and flotation consulting services to the mining industry in Africa and Canada . The company has developed and uses SUPASIM, a proprietary flotation simulation program and an empirical mill sizing methodology, and also maintains a large database of milling and flotation operations, as well as associated laboratory and pilot test data to characterise ores and predict plant performance. In addition to simulating over 50 operating flotation plants from laboratory data, SUPASIM has been used to design and simulate the performance of four flotation plants from laboratory data only. EMC is also involved in the training of metallurgists for selected clients.

Martyn has published seven papers in international journals and a number of Competent Person's and Due Diligence reports.

Alexander is an internationally recognised expert in the field of diamond geology, with experience in alluvial gold geology. He is familiar with all stages of diamond prospecting, exploration and mining through personal experience both in the field and in the laboratory. He has done fieldwork in Russia, Syria, Brazil, RSA, Botswana, Lesotho and Angola. Alexander has experience in the Anglo American Research Laboratories as well as at De Beers Consolidated Mines Geoscience Centre. He is the author of several publications, most notably on kimberlite pipes.

Cuthbert has 15 years experience in the mining industry spread over production (gold mining), academia and consulting.  He currently lectures at Witwatersrand University in the area of mine financial valuation, decision making for mining investments and applied operations research.  He is currently completing a PhD in multi-criteria mine planning optimisation for platinum mining.  In his consulting role, Cuthbert has participated in projects on technical due diligence and mineral property valuation in gold and industrial minerals.  He has appeared as a professional witness before a court of law in a valuation case.  Cuthbert has also presented papers at international conferences and authored several papers in an international journal.  His interests lie in mine financial valuation and mine planning.

Glen Curve Centre, Elm/Beech Street, Dowerglen, Edenvale

Tel: +27 11 452 0022

Fax: +27 11 452 5577

www.compuflex.co.za

Compuflex, established in 1990, is a solutions-driven company, backed by the service and support of efficient and well trained staff.

Compuflex has strived towards remaining at the forefront of technology, to ensure ongoing professional service, technical support and training for its corporate client base.

Compuflex has maintained the IT infrastructure of Venmyn Rand for the past four years.

Venmyn Rand is a dynamic company that is continually seeking and implementing the latest IT technology.

Compuflex Mobile shares its passion to keep abreast of ever-changing IT and 'Convergence Technology' structures.

The Campus
57 Sloane Street
1st Floor, Wrigley Field
Bryanston
2021

Tel: +27 11 575 3415
Fax: +27 11 576 3415

www.questco.co.za

QuestCo, established in 2002, provides independent corporate finance and regulatory advice to enterprises both listed and unlisted, and blue chip and fledgling.

Its relationship-driven culture seeks to provide an invaluable service to its clients through innovative ideas and quality deliverables.

Powered by a team that brings a diverse range of experience to the table, QuestCo operates primarily in the mining and resources industry. It provides advisory skills and expertise to clients across all industries.

The QuestCo team has been an innovator in the field of black economic empowerment (BEE) transactions.

6^th Floor, West Tower, Sandton City Twin Towers Cnr,
Rivonia Rd & 5^th Street, Sandton
PO Box 3315
Dainfern, 2055
South Africa

Tel: +27 11 883 6358
Fax: +27 11 883 2116

7^th Floor
81 Main Street
Marshalltown
Johannesburg
2001
PO Box 97194
Petervale
2151

Tel: +27 11 838 5284

Fax: +27 11 838 5280

www.soundmining.com

Sound Mining Solution is an independent and privately-owned company. It employs a team of competent professionals, who combine experience and technical excellence with sound 3D computer modelling expertise when providing mining engineering and project management services to the mining industry. SMS’s pragmatic approach to problem solving helps it recognise and ‘home-in’ on the key mining engineering issues that influence bottom-line profitability. Its services include financial evaluation and due diligence reports; exploration and mining feasibility studies; and 3D modelling.