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Reporting assumptions

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Ownership basis

Show the full project inventory before ownership adjustment.

Display scale

Display contained quantities in millions of ounces or tonnes.

Resource treatment

Normalise Resources to exclude Reserves: where a project is flagged inclusive, net Reserves out of Resources so the figure is additional Resources beyond Reserves. Unknown-convention rows are shown as stated.

Resource total

Total Resource includes Inferred (JORC convention). Totals are re-derived from category rows wherever the document discloses them.

Recovery basis

Show the issuer's headline recoverable figure as reported. Lithium-brine reserves already have the brine-processing recovery factor applied; everything else is shown as stated.

Commodity view

Primary view: each commodity in its own contained unit (oz / t).

Free State Surface Operations

Free State, South Africa · Producing · 100.0% ownedUnverified

Current R&R by category

Whole-project rollup at the latest vintage per category: printed project-level rows are preferred, and mining areas are summed (tonnes-weighted grade) only where the issuer prints no project-level row. Per-area and per-source detail in the Current R&R table below.

Category	Tonnes (Mt)	Grade (g/t Au)	Contained (Moz Au)	As at
Measured	100.93 Mt	0.27 g/t	0.89 Moz	30 June 2025
Indicated	0.08 Mt	0.55 g/t	1.38 koz	30 June 2025
Inferred	134.64 Mt	0.22 g/t	0.94 Moz	30 June 2025
Total Resources	235.65 Mt	0.24 g/t	1.83 Moz	30 June 2025
Proved	116.95 Mt	0.27 g/t	1.01 Moz	30 June 2025
Probable	523.03 Mt	0.23 g/t	3.89 Moz	30 June 2025
Total Reserves	639.98 Mt	0.24 g/t	4.91 Moz	30 June 2025

Cut-off grade

0.0380 g/t Au

Price assumption

US$2237.00/oz

JORC code year

—

Peer benchmark — producing Au projects (282 with resources)Resource size P51Resource grade P9View on grade-tonnage chart →

Percentile of this project's current total Resource among covered peers (P100 = largest / highest grade). Basis and Inferred toggles apply.

Data quality

Latest source: 20-F: 20-F · 30 June 2025
Reporting code: SK-1300
Convention: exclusive
Currency assumption: US$
Disagreement flags: 2 rows

Current R&R

Resources

Area	Category	Tonnes (Mt)	Au		As at	Source	Provenance
Area	Category	Tonnes (Mt)	Grade (g/t Au)	Contained (Moz Au)	As at	Source	Provenance
Total	Total Resources	235.65 Mt	0.24 g/t	1.83 Moz	30 June 2025	derived from 5 rows Measured: Mineral Resources (exclusive of Mineral Reserves) summary table / Free State Surface Operations Mineral Resource Estimate

Reserves

Area	Category	Tonnes (Mt)	Au		As at	Source	Provenance
Area	Category	Tonnes (Mt)	Grade (g/t Au)	Contained (Moz Au)	As at	Source	Provenance
Total	Total Reserves	639.98 Mt	0.24 g/t	4.91 Moz	30 June 2025	derived from 4 rows Proved: Mineral Reserves summary table / Free State Surface Operations Mineral Reserve Estimate Proved: Mineral Reserves summary table / Free State Surface Operations Mineral Reserve Estimate Probable: Mineral Reserves summary table / Free State Surface Operations Mineral Reserve Estimate Probable: Mineral Reserves summary table / Free State Surface Operations Mineral Reserve Estimate Unverified Evidence record Free State Surface Operations Total Reserve · Au · as at 2025-06-30 Reported figure Area Whole project Basis 100% Ore tonnes (t) 639981000 Grade 0.23978922811770975 Contained (oz) 4905753.8159 Classification Reserve Source trail 20-F: 20-F Mineral Reserves summary table / Free State Surface Operations Mineral Reserve Estimate · contributes Proved 20-F: 20-F Mineral Reserves summary table / Free State Surface Operations Mineral Reserve Estimate · contributes Proved 20-F: 20-F Mineral Reserves summary table / Free State Surface Operations Mineral Reserve Estimate · contributes Probable 20-F: 20-F Mineral Reserves summary table / Free State Surface Operations Mineral Reserve Estimate · contributes Probable Verification Approved; not independently verified · Model extracted Copies a pre-filled issue record so you can send it through your normal channel.	—
Central Plant Reclamation	Probable	39.67 Mt	0.27 g/t	0.34 Moz	30 June 2025	Mineral Reserves summary table / Free State Surface Operations Mineral Reserve EstimateUnverified Evidence record Free State Surface Operations Probable · Au · as at 2025-06-30 Reported figure Area Central Plant Reclamation Basis 100% Ore tonnes (t) 39671000.0000 Grade 0.2700 Contained (oz) 343144.9181 Classification Reserve Source trail 20-F: 20-F Mineral Reserves summary table / Free State Surface Operations Mineral Reserve Estimate Published 2025-10-31 Verification Approved; not independently verified · Model extracted QA BLOCK: recomputed contained 344372.1121 oz vs reported 343144918.1269664361123769932 oz (99.90% disagreement) \| QA FIX (claude-agent-qa): printed kg contained was converted with the oz-per-TONNE factor (32,150.75) instead of oz/kg (32.1507) — divided by 1,000. Tonnes/grades verified faithful to print. \| QA sweep fix: incl_of_res cleared — flag belongs on resource rows only; figures print-verified Copies a pre-filled issue record so you can send it through your normal channel.	notes (6) Source:
Free State Tailings	Proved	86.53 Mt	0.27 g/t	0.75 Moz	30 June 2025	Mineral Reserves summary table / Free State Surface Operations Mineral Reserve EstimateUnverified Evidence record Free State Surface Operations Proved · Au · as at 2025-06-30 Reported figure Area Free State Tailings Basis 100% Ore tonnes (t) 86527000.0000 Grade 0.2700 Contained (oz) 752648.9772 Classification Reserve Source trail 20-F: 20-F Mineral Reserves summary table / Free State Surface Operations Mineral Reserve Estimate Published 2025-10-31 Verification Approved; not independently verified · Model extracted QA BLOCK: recomputed contained 751115.0651 oz vs reported 752648977.1715810240223691006 oz (99.90% disagreement) \| QA FIX (claude-agent-qa): printed kg contained was converted with the oz-per-TONNE factor (32,150.75) instead of oz/kg (32.1507) — divided by 1,000. Tonnes/grades verified faithful to print. \| QA sweep fix: incl_of_res cleared — flag belongs on resource rows only; figures print-verified Copies a pre-filled issue record so you can send it through your normal channel.	notes (6) Source: 20-F: 20-F
Free State Tailings	Probable	483.36 Mt	0.23 g/t	3.55 Moz	30 June 2025	Mineral Reserves summary table / Free State Surface Operations Mineral Reserve EstimateUnverified Evidence record Free State Surface Operations Probable · Au · as at 2025-06-30 Reported figure Area Free State Tailings Basis 100% Ore tonnes (t) 483358000.0000 Grade 0.2300 Contained (oz) 3549281.6674 Classification Reserve Source trail 20-F: 20-F Mineral Reserves summary table / Free State Surface Operations Mineral Reserve Estimate Published 2025-10-31 Verification Approved; not independently verified · Model extracted QA BLOCK: recomputed contained 3574273.7288 oz vs reported 3549281667.443685909737267700 oz (99.90% disagreement) \| QA FIX (claude-agent-qa): printed kg contained was converted with the oz-per-TONNE factor (32,150.75) instead of oz/kg (32.1507) — divided by 1,000. Tonnes/grades verified faithful to print. \| QA sweep fix: incl_of_res cleared — flag belongs on resource rows only; figures print-verified Copies a pre-filled issue record so you can send it through your normal channel.	notes (6) Source: 20-F: 20-F
Phoenix Project	Proved	30.43 Mt	0.27 g/t	0.26 Moz	30 June 2025	Mineral Reserves summary table / Free State Surface Operations Mineral Reserve EstimateUnverified Evidence record Free State Surface Operations Proved · Au · as at 2025-06-30 Reported figure Area Phoenix Project Basis 100% Ore tonnes (t) 30425000.0000 Grade 0.2700 Contained (oz) 260678.2532 Classification Reserve Source trail 20-F: 20-F Mineral Reserves summary table / Free State Surface Operations Mineral Reserve Estimate Published 2025-10-31 Verification Approved; not independently verified · Model extracted QA BLOCK: recomputed contained 264110.3454 oz vs reported 260678253.1784356660731896056 oz (99.90% disagreement) \| QA FIX (claude-agent-qa): printed kg contained was converted with the oz-per-TONNE factor (32,150.75) instead of oz/kg (32.1507) — divided by 1,000. Tonnes/grades verified faithful to print. \| QA sweep fix: incl_of_res cleared — flag belongs on resource rows only; figures print-verified Copies a pre-filled issue record so you can send it through your normal channel.	notes (6) Source: 20-F: 20-F