Reserves and Resources

Coal resources

The following table summarises the current coal Samrec Compliant Resources held by the Company as at 30 November 2009.

FSE/Sekoko Agreement	Farm name	Resource Category	Coal gross tons in situ (Mtons)
T1	Vetleegte 315 LQ	Indicated	28.873
		Inferred	131.303
	Olieboomfontein 220 LQ	Not classified
T2	Smitspan 306LQ	Measured	97.153
		Indicated	416.109
		Inferred	106.836
	Massenberg 305 LQ	Indicated	20.797
		Inferred	109.539
	Hooikraal 315LQ	Indicated	7.282
		Inferred	155.491
	Minnasvlakte 258LQ	Indicated	26.507
		Inferred	230.687
T3	Swanepoelpan 262LQ	Indicated	1.072
		Inferred	378.227
	Duikerfontein 263 LQ	Inferred	13.949
Total FSE			1,723.825

Information in this report that relates to exploration results, coal resources or reserves on the properties Smitspan 306LQ, Hooikraal 315LQ, Minnasvlakte 258LQ and Massenberg 305LQ is based on information compiled by Ms Catherine Telfer who is employed by Venmyn Rand (Pty) Ltd and is a member of The Australian Institute of Mining and Metallurgy and The South African Institute of Mining and Metallurgy. Ms Telfer has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which she is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the "Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves". Ms Telfer consents to the inclusion in the report of the matters based on her information in the form and context in which it appears

Further updates will be provided to shareholders in due course.

Location of FSE/Sekoko properties in respect to Exxaro Groottegeluk Mine and Matimba Power station