Universal Coal Global Coal Resources/Reserve Estimate

SUMMARY OF INFORMATION

The information in the table below, relating to the Universal Group’s Mineral Resources and Ore Reserves, has been extracted without amendment from the Resource and Reserve estimates relating to Universal’s material assets:

Project Reserve Resource
Proved

Mt

Measured

Mt

Indicated

Mt

Inferred

Mt

Total

Mt

Attributable

to Universal

Mt

Thermal Coal  (Witbank)
Kangala1 16.3 78.7 19.4 33.6 131.7 92.8
NCC2 29.3 96.8 41.8 6.0 144.7 70.9
Brakfontein3 9.1 31.7 39.4 4.7 75.8 38.1
Arnot South4 2.3 65.3 139.0 206.6 103.3
Total Thermal Coal 54.7 209.5 165.9 183.4 558.8 305.1
Coking Coal  (Limpopo)
Berenice5 Cygnus6 424.9 800.9 124.3 1,350.1 675.1
Total Coking Coal 424.9 800.9 124.3 1,350.1 675.1
Total 54.7 634.4 966.8 307.7 1,908.9 980.2
Notes:
Mineral Resources are stated on a gross in situ basis and inclusive of Ore Reserves.
Rounding (conforming to the JORC Code) may cause computational discrepancies.
1. Universal has an attributable interest of 70.5 percent in the Kangala Project.
2. Universal has an attributable interest of 49 percent in the NCC project.
3. Universal has an attributable interest of 50.29 percent in the Brakfontein Project and the right to negotiate to acquire up to a 74 per cent. interest upon completion of the BFS and award of a mining right and associated regulatory approvals.
4. The acquisition of the Arnot South project is subject to the successful transfer of the prospecting right to Universal Coal, in accordance with Section 11 of the Mineral and Petroleum Resources Development Act, 2002. Universal will have an attributable interest of 50 percent in the Arnot South project upon granting of the Section 11 transfer.
5. Universal has an attributable interest of 50 percent in the Berenice Project with an option to acquire up to a 74 percent interest.
6. Universal has an attributable interest of 50 percent in the Cygnus Project with an option to acquire up to a 74 percent interest.

Competent Person’s Statement

Kangala Mine – Mineral Resources and Ore Reserves

The Coal Resource estimate for Kangala was prepared by Messrs. Nico Denner, Simon Mokitimi and Daniel Zulu who are registered natural scientists and members of the South African Council for Natural Scientific Professions (a Recognised Overseas Professional Organisation). Mr Denner is employed by Gemecs (Pty) Ltd and Messrs Mokitimi and Zulu are employed by Universal Coal. They have sufficient experience which is relevant to the style of mineralisation and the type of deposit under consideration and to the activity which they are undertaking to qualify as Competent Persons as defined by the JORC Code and consent to the inclusion in this document of this information in the form and context in which it appears.

The Kangala Coal Reserve estimate was prepared by Mr Michael Vertue who is a mining consultant associate of Mindset Mining Consultants (Pty) Ltd. Mr Vertue is a registered Professional Certified Mining Engineer and has over 30 years’ experience in the mining industry. He is a member of the Engineering Council of South Africa (ECSA) (a Recognised Overseas Professional Organisation) and the South African Collieries Managers Association (SACMA). Mr Vertue has sufficient experience which is relevant to the type of mineralisation and the Kangala deposit and to the activity which he is undertaking to qualify as Competent Persons Person as defined by the JORC Code. Mr Vertue consents to the inclusion in this document of this information in the form and context in which it appears.

NCC Project – Mineral Resources and Ore Reserves

The Coal Resource estimate for NCC was prepared by Messrs. Nico Denner, Simon Mokitimi and Pogiso Rantao who are registered natural scientists and members of the South African Council for Natural Scientific Professions (a Recognised Overseas Professional Organisation). Mr Denner is employed by Gemecs (Pty) Ltd and Messrs. Mokitimi and Ratao are employed by Universal Coal. They have sufficient experience which is relevant to the style of mineralisation and the type of deposit under consideration and to the activity which they are undertaking to qualify as Competent Persons as defined by the JORC Code and consent to the inclusion in this document of this information in the form and context in which it appears.

The NCC Coal Reserve estimate was prepared by Messrs. Piet van der Linde and Michael Vertue from Mindset Mining Consultants (Pty) Ltd. Mr van der Linde is a registered Professional Certified Mining Engineer and has over 30 years’ experience in the mining industry. Mr Vertue is a registered Professional Certified Mining Engineer and has over 30 years’ experience in the mining industry. He is a member of the Engineering Council of South Africa (ECSA) (a Recognised Overseas Professional Organisation) and the South African Collieries Managers Association (SACMA). Messrs. van der Linde and Vertue have sufficient experience which is relevant to the type of mineralisation and the NCC deposit and to the activity which they are undertaking to qualify as Competent Persons Person as defined by the JORC Code. Messrs van der Linde and Vertue consent to the inclusion in this document of this information in the form and context in which it appears.

Brakfontein Project – Mineral Resources and Ore Reserves

The Coal Resource estimate for Brakfontein was prepared by Mr Nico Denner, who is a registered natural scientist and a member of the South African Council for Natural Scientific Professions (a Recognised Overseas Professional Organisation). Mr Denner is employed by Gemecs (Pty) Ltd and has sufficient experience which is relevant to the style of mineralisation and the type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined by the JORC Code. Mr Denner consents to the inclusion in this document of this information in the form and context in which it appears.

The Brakfontein Coal Reserve estimate was prepared by Mr. Michael Vertue who is a mining consultant associate of Mindset mining Consultants (Pty) Ltd. Mr Vertue is a registered Professional Certified Mining Engineer and has over 30 years’ experience in the mining industry. He is a member of the Engineering Council of South Africa (ECSA) (a Recognised Overseas Professional Organisation) and the South African Collieries Managers Association (SACMA). Mr Vertue has sufficient experience which is relevant to the type of mineralisation and the Kangala deposit and to the activity which he is undertaking to qualify as Competent Persons Person as defined by the JORC Code. Mr Vertue consents to the inclusion in this document of this information in the form and context in which it appears.

Arnot South and Berenice Cygnus Projects – Mineral Resources

The Coal Resource estimates for Arnot South and Berenice-Cygnus were prepared by Mr Nico Denner, who is a registered natural scientist and a member of the South African Council for Natural Scientific Professions (a Recognised Overseas Professional Organisation). Mr Denner is employed by Gemecs (Pty) Ltd and has sufficient experience which is relevant to the style of mineralisation and the type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined by the JORC Code. Mr Denner consents to the inclusion in this document of this information in the form and context in which it appears.