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250513 Competent Persons Report

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CPR stonewall
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    Suite 5, Coldstream Office Park, Cnr Hendrik Potgieter & Van Staden Little Falls +27 11 958 2899 +27 11 958 2105   Directors: NJ Odendaal, D Van Heerden, CJ Muller Registration No. 2004/029587/07 Suite 5, Coldstream Office Park 2 Coldstream Street Little Falls, Roodepoort, South Africa Tel: +27 11 958 2899 !  Fax: +27 11 958 2105 www.minxcon.co.za Update of the Stonewall Resources as at May 2013, Pilgrims Rest area, South Africa Short Report Effective Date: 25 May 2013 Issue Date: 25 June 2013 Minxcon Reference: M2013-030a Authors: Paul Obermeyer Mineral Resource Manager BSc Hons. Geology  Update of Stonewall Resources as at May 2013 – Preliminary Report Prepared by Minxcon (Pty) Ltd ii   DISCLAIMER AND RISKS This Report was prepared by Minxcon (Pty) Ltd (“Minxcon”). In the preparation of the Report, Minxcon has utilised information relating to operational methods and expectations provided to them by various sources. Where possible, Minxcon has verified this information from independent sources after making due enquiry of all material issues that are required in order to comply with the requirements of the JORC Code. Minxcon and its directors accept no liability for any losses arising from reliance upon the information presented in this Report. OPERATIONAL RISKS The business of mining and mineral exploration, development and production by their nature contain significant operational risks. The business depends upon, amongst other things, successful prospecting programmes and competent management. Profitability and asset values can be affected by unforeseen changes in operating circumstances and technical issues. POLITICAL AND ECONOMIC RISK Factors such as political and industrial disruption, currency fluctuation and interest rates could have an impact on future operations, and potential revenue streams can also be affected by these factors. The majority of these factors are, and will be, beyond the control of any operating entity. COPYRIGHT Copyright in all documents, drawings and records, whether manually or electronically produced, which form part of the submission and any subsequent report or project document shall vest in Minxcon. None of the documents, drawings or records may be used or applied in any manner, nor may they be reproduced or transmitted in any form or by any means whatsoever for or to any other person, without prior written consent of Minxcon, other than the filing of the Report with the Alternative Investment Market Securities Regulators or an exchange in accordance with London securities laws.  Update of Stonewall Resources as at May 2013 – Preliminary Report Prepared by Minxcon (Pty) Ltd iii   TABLE OF CONTENTS   1.   –   I NTRODUCTION ......................................................................................................4   2.   –   P ROPERTY L OCATIONS ..............................................................................................4   3.   –   D ECLARED M INERAL R  ESOURCE S TATEMENT AS AT O CTOBER 2011 ................................................5   4.   –   E STIMATED M INERAL R  ESOURCE S TATEMENT AS AT M AY 2013 ....................................................8   5.   –   C ONCLUSIONS .....................................................................................................11   FIGURES Figure 1: General Location of Stonewall Projects and Operations..................................................4   TABLES   Table 1: The Combined Mineral Resources for Stonewall as at 31 October 2011.................................5   Table 2: Mineral Resources for the Stonewall Underground Operations as at 31 October 2011................5   Table 3: Mineral Resources for the Stonewall Open Pit Operations as at 31 October 2011.....................5   Table 4: Mineral Resources for the Stonewall Tailings Dams as at 31 October 2011.............................6   Table 5: Mineral Resources for the Stonewall Rock Dumps as at 31 October 2011...............................6   Table 6: The Combined Mineral Resources for Stonewall as at May 2013..........................................8   Table 7: Mineral Resources for the Stonewall Underground Operations as at May 2013.........................8   Table 8: Mineral Resources for the Stonewall Open Pit Operations as at May 2013..............................9   Table 9: Mineral Resources for the Stonewall Tailings Dams as at May 2013......................................9   Table 10: Mineral Resources for the Stonewall Rock Dumps as at May 2013......................................9   Appendices Appendix 1: Certificate of Competent Person.........................................................................12    Update of Stonewall Resources as at May 2013 – Preliminary Report Prepared by Minxcon (Pty) Ltd 4   1.   –   I NTRODUCTION   Minxcon Consulting (Pty) Ltd (“Minxcon”) was requested by the directors of Stonewall Mining (“Stonewall”) to compile an updated approximation of the status of the Mineral Resources for TGME, as at May 2013, with the specific inclusion of the Dukes’ Hill Mine and Beta Main Rock Dump. The Mineral Resource Statement dated October 2011, as reflected in this document, represents the last official declared Mineral Resources for Stonewall. The Mineral Resource Statement as at May 2013 is an approximation of the current status of the Mineral Resources. The May 2013 statement takes into account production figures as reported by the TGME plant, in order to reflect Mineral Resource depletion. These figures are thus directly related to the plant processed tons as provided by Stonewall. The May 2013 Resource Statement also includes, as requested, the additional Mineral Resources for the Dukes’ Hill Mine and the Beta Main Rock Dump. 2.   –   P ROPERTY L OCATIONS   Figure 1: General Location of Stonewall Projects and Operations
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