Resources and Reserves

Mineral Resources and Mineral Reserves

Mineral Resources consist of sand dumps, slimes dams and silted ‘vlei’ areas and dams. Before dumps are included as Mineral Resources, they are evaluated by drilling and an engineering study is undertaken to determine infrastructure needs.

Competent persons

Competent PersonsTitleAddressQualificationsYears
Mpfariseni Mudau
Pr.Sci.Nat. 400305/12
Director of The RVN
Group Proprietary Limited
Willowbrook Villas 21,
Van Hoof St,
Roodepoort, 1724
BSc (Hons) – Geology,
MSc (Mining Engineering)
18
Professor Steven Rupprecht
FSAIMM 701013
Associate Principal Mining Engineer of the RVN Group Willowbrook Villas 21,
Van Hoof St,
Roodepoort, 1724
BSc. Mining Engineering
PhD. Mechanical
Engineering
37
Nicholas Weeks
Pr.Sci.Nat. 155508
Director at Sound Mining International SA Proprietary Limited Sound Mining House,
2A Fifth Avenue,
Rivonia, 2128
BSc (Hons) – Geology, MGSSA 5
Vaughn Duke
Pr. Eng 940314
FSAIMM 37179
Partner of Sound Mining Solution Proprietary Limited Sound Mining House,
2A Fifth Avenue,
Rivonia, 2128
BSc Mining Engineering
(Hons), MBA
39

Mineral Resources as at 31 December 2025

 MEASUREDINDICATED
 Tonnes
(mt)
Au (g/t)Contents
(Moz)
Tonnes
(mt)
Au (g/t)Contents
(Moz)
Ergo  142.66 0.30 1.38 325.09 0.25 2.63
FWGR 251.25 0.32 2.56
Total Mineral Resources as at 31 December 2025 393.91 0.32 3.94 325.09 0.25 2.63
Total Mineral Resources as at 30 June 2024 452.10 0.307 4.46 561.95 0.250 4.50
 INFERREDTOTAL
 Tonnes
(mt)
Au (g/t)Contents
(Moz)
Tonnes
(mt)
Au (g/t)Contents
(Moz)
Ergo  467.75 0.26 4.01
FWGR 22.14 0.06 0.05 273.39 0.30 2.61
Total Mineral Resources as at 31 December 2025 22.14 0.05 741.14 0.29 6.62
Total Mineral Resources as at 30 June 2024 21.32 0.240 0.20 1 035.36 0.275 9.16

Mpho Mashatola - Group Financial Manager

From reports submitted by Ergo and FWGR competent persons


Mineral Resources as at 30 June 2024

 MEASUREDINDICATED
 Tonnes
Mt
Grade
g/t
Contents
Au tonnes
Contents
Moz
Tonnes
Mt
Grade
g/t
Contents
Au tonnes
Contents
Moz
Ergo  236.10 0.290 68.47 2.20 561.95 0.250 140.49 4.50
FWGR 216.00 0.325 70.28 2.26
Total Mineral Resources as at 30 June 2024 452.10 0.307 138.75 4.46 561.95 0.250 140.49 4.50
Total Mineral Resources as at 30 June 2023 473.61 0.313 148.36 4.75 571.47 0.250 142.87 4.65
 INFERREDTOTAL
 Tonnes
Mt
Grade
g/t
Contents
Au tonnes
Contents
Moz
Tonnes
Mt
Grade
g/t
Contents
Au tonnes
Contents
Moz
Ergo  21.32 0.240 5.12 0.20 819.36 0.261 214.08 6.90
FWGR 216.00 0.325 70.28 2.26
Total Mineral Resources as at 30 June 2024 21.32 0.240 5.12 0.20 1 035.36 0.275 284.36 9.16
Total Mineral Resources as at 30 June 2023 21.32 0.240 5.12 0.16 1 066.40 0.278 296.35 9.56

Mineral Resources reported include Mineral Reserves
The figures contained in the tables are rounded, which may result in minor computational discrepancies which are not deemed to be significant


Mineral Reserves as at 31 December 2025

 PROVED
Delivered to plant
 Tonnes
(mt)
Au (g/t)Contents
(Moz)
Ergo 142.66 0.30 1.38
FWGR 193.24 0.32 2.00
Total Mineral Resources as at 31 December 2025 335.90 0.32 3.38
Total Mineral Resources as at 30 June 2024 394.28 0.320 4.05
 PROBABLE
Delivered to plant
 Tonnes
(mt)
Au (g/t)Contents
(Moz)
Ergo 282.83 0.24 2.22
FWGR 12.88 0.33 0.14
Total Mineral Resources as at 31 December 2025 295.71 0.26 2.36
Total Mineral Resources as at 30 June 2024 209.05 0.255 1.74
 TOTAL
Delivered to plant
 Tonnes
(mt)
Au (g/t)Contents
(Moz)
Ergo 425.49 0.28 3.60
FWGR 206.12 0.33 2.13
Total Mineral Resources as at 31 December 2025 631.61 0.29 5.73
Total Mineral Resources as at 30 June 2024 209.05 0.297 1.74

The Driefontein 5 TSF Mineral Resource Estimate model estimates a relatively flat footwall topography. The TSF is now almost completely depleted and it has become apparent that, in reality the footwall is not flat, but undulatory. This has resulted in a difference between the modeled quantity and the true quantity of the Driefontein 5 TSF. The size of this difference still needs to be calculated, but after engaging with FWGR, is estimated to be in the order of 1Mt. This would equate to a 3.5% difference compared to the original Driefontein 5 TSF Mineral Resource estimate and a 0.5% difference to the total FWGR Mineral Resource estimate. The Driefontein 5 Mineral Resource estimate will be updated when these quantities have been further reconciled.


Mineral Reserves as at 30 June 2024

 PROVED
Delivered to plant
 Tonnes
Mt
Grade
g/t
Contents
Au tonnes
Contents
Moz
Ergo 170.06 0.310 52.72 1.67
FWGR 203.13 0.325 66.04 2.12
Total Mineral Resources as at 30 June 2024 373.19 0.318 118.76 3.79
Total Mineral Resources as at 30 June 2023 394.28 0.320 126.02 4.05
 PROBABLE
Delivered to plant
 Tonnes
Mt
Grade
g/t
Contents
Au tonnes
Contents
Moz
Ergo 196.17 0.250 49.04 1.60
FWGR 12.88 0.330 4.24 0.14
Total Mineral Resources as at 30 June 2024 209.05 0.255 53.28 1.74
Total Mineral Resources as at 30 June 2023 209.05 0.255 53.28 1.74
 TOTAL MINERAL RESERVES
Delivered to plant
 Tonnes
Mt
Grade
g/t
Contents
Au tonnes
Contents
Moz
Ergo 366.23 0.278 101.76 3.27
FWGR 216.00 0.325 70.28 2.26
Total Mineral Resources as at 30 June 2022 582.23 0.295 172.04 5.53
Total Mineral Resources as at 30 June 2021 603.31 0.297 179.3 5.79

The figures contained in the tables are rounded, which may result in minor computational discrepancies which are not deemed to be significant

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