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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).

Tshepong North

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	12.13 Mt	12.40 g/t	4.84 Moz	30 June 2025
Indicated	6.57 Mt	11.43 g/t	2.41 Moz	30 June 2025
Inferred	8.27 Mt	9.30 g/t	2.47 Moz	30 June 2025
Total Resources	26.96 Mt	11.21 g/t	9.72 Moz	30 June 2025
Proved	2.40 Mt	4.55 g/t	0.35 Moz	30 June 2025
Probable	1.61 Mt	5.85 g/t	0.30 Moz	30 June 2025
Total Reserves	4.01 Mt	5.07 g/t	0.65 Moz	30 June 2025

Cut-off grade

700.0000 g/t Au · 750.0000 g/t Au

Price assumption

US$2349.00/oz · US$2237.00/oz

JORC code year

—

Peer benchmark — producing Au projects (282 with resources)Resource size P90Resource grade P98View 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$

Current R&R

Resources

Category	Tonnes (Mt)	Au		As at	Source	Provenance
Category	Tonnes (Mt)	Grade (g/t Au)	Contained (Moz Au)	As at	Source	Provenance
Measured	12.13 Mt	12.40 g/t	4.84 Moz	30 June 2025	Mineral Resources (exclusive of Mineral Reserves) summary tableUnverified Evidence record Tshepong North Measured · Au · as at 2025-06-30 Reported figure Area Whole project Basis 100% Ore tonnes (t) 12125000.0000 Grade 12.4000 Contained (oz) 4835568.7362 Classification Resource Source trail 20-F: 20-F Mineral Resources (exclusive of Mineral Reserves) summary table Published 2025-10-31 Verification Approved; not independently verified · Model extracted QA BLOCK: recomputed contained 4833864.7466 oz vs reported 4835568736.161354154465458344 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: print-verified Copies a pre-filled issue record so you can send it through your normal channel.

Reserves

Category	Tonnes (Mt)	Au		As at	Source	Provenance
Category	Tonnes (Mt)	Grade (g/t Au)	Contained (Moz Au)	As at	Source	Provenance
Proved	2.40 Mt	4.55 g/t	0.35 Moz	30 June 2025	Mineral Reserves summary table / Tshepong North Mineral Reserve EstimateUnverified Evidence record Tshepong North Proved · Au · as at 2025-06-30 Reported figure Area Whole project Basis 100% Ore tonnes (t) 2403000.0000 Grade 4.5500 Contained (oz) 351600.5645 Classification Reserve Source trail 20-F: 20-F Mineral Reserves summary table / Tshepong North Mineral Reserve Estimate Published 2025-10-31 Verification Approved; not independently verified · Model extracted QA BLOCK: recomputed contained 351525.0102 oz vs reported 351600564.4745155949896893842 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 · published 31 Oct 2025 Ref: Mineral Reserves summary table / Tshepong North Mineral Reserve Estimate SK-1300 — Reporting code of record: SK-1300 Cutoff 750.00 g/t Au — Cut-off grade assumption from the source statement. @ US$ 2,237/oz — Metal price assumption used to derive this estimate. QA notes: QA BLOCK: recomputed contained 351525.0102 oz vs reported 351600564.4745155949896893842 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
Probable	1.61 Mt	5.85 g/t	0.30 Moz	30 June 2025	Mineral Reserves summary table / Tshepong North Mineral Reserve EstimateUnverified Evidence record Tshepong North Probable · Au · as at 2025-06-30 Reported figure Area Whole project Basis 100% Ore tonnes (t) 1606000.0000 Grade 5.8500 Contained (oz) 301927.6610 Classification Reserve Source trail 20-F: 20-F Mineral Reserves summary table / Tshepong North Mineral Reserve Estimate Published 2025-10-31 Verification Approved; not independently verified · Model extracted QA BLOCK: recomputed contained 302059.4791 oz vs reported 301927661.0259853650830443496 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 · published 31 Oct 2025
Total Reserves	4.01 Mt	5.07 g/t	0.65 Moz	30 June 2025	derived from 2 rows Proved: Mineral Reserves summary table / Tshepong North Mineral Reserve Estimate Probable: Mineral Reserves summary table / Tshepong North Mineral Reserve Estimate Unverified Evidence record Tshepong North Total Reserve · Au · as at 2025-06-30 Reported figure Area Whole project Basis 100% Ore tonnes (t) 4009000 Grade 5.070778248939885 Contained (oz) 653528.2255 Classification Reserve Source trail 20-F: 20-F Mineral Reserves summary table / Tshepong North Mineral Reserve Estimate · contributes Proved 20-F: 20-F Mineral Reserves summary table / Tshepong North 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.