Resource statement

Mining Block Resource Classification Kimberlite Facies Volume
(m3 x 1000)
Density Tonnes % of Total Recovered Grade (cpt) Carats USD/ct
Upper K4 mine 230-370m levels Indicated K4 1,065.486 2.585 2,754,281 36.9% 0.365 1,005,313 $164.00
Indicated K6 1,834.957 2.563 4,702,995 63.1% 0.090 422,329 $164.00
Total Indicated   2,900.443   7,457,276 100.0% 0.191 1,427,642 $164.00
Inferred K8 144.722 2.641 382,211 16.3% 0.160 61,154 $164.00
Inferred CRB 723.803 2.709 1,960,782 83.7% 0.000 - $164.00
Total Inferred   868.525   2,342,993 100.0% 0.026 61,154 $164.00
Block Cave 1 370m– 510m levels Inferred K4 1,626.754 2.59 4,213,293 48.4% 0.400 1,685,317 $164.00
Inferred K6 1,262.561 2.56 3,232,157 37.1% 0.100 323,216 $164.00
Inferred K8 13.713 2.64 36,203 0.4% 0.160 5,793 $164.00
Inferred CRB 451.786 2.71 1,224,339 14.1% 0.000 - $164.00
  Total 3,354.815   8,705,993 100.0% 0.231 2,014,326 $164.00
Block Cave 2 510m– 700m levels Inferred K4 2,225.776 2.59 5,764,760 59.0% 0.400 2,305,904 $164.00
Inferred K6 1,484.048 2.56 3,799,164 38.9% 0.100 379,916 $164.00
Inferred K8 0.000 2.64 - 0.0% 0.160 - $164.00
Inferred CRB 74.018 2.71 200,589 2.1% 0.000 - $164.00
  Total 3,783.842   9,764,513 100.0% 0.275 2,685,820 $164.00
Block Cave 3 700m– 920m levels Inferred K4 2,800.965 2.59 7,254,499 71.0% 0.400 2,901,799 $164.00
Inferred K6 1,153.812 2.56 2,953,759 28.9% 0.100 295,376 $164.00
Inferred K8 0.000 2.64 - 0.0% 0.160 - $164.00
Inferred CRB 3.577 2.71 9,694 0.1% 0.000 - $164.00
  Total 3,958.354   10,217,952 100.0% 0.313 3,197,175 $164.00
Lace Mine Totals Indicated   2,900.443 2.57 7,457,276 19.4% 0.191 1,427,642 $164.00
Inferred   11,965.54 2.59 31,031,451 80.6% 0.256 7,958,475 $164.00
    Total 14,865.979 2.59 38,688,458 100.0% 0.244 9,386,117 $164.00

Based on a recoverable grade model for the current Lace plant configuration (+1.25mm bottom cut-off screen size)
Diamond price based on bulk sample parcels and January 2016 price book
Effective date 1 February 2016.

Reserve Statement

Mining Block Resource Classification Kimberlite Facies Tonnes Recovered Grade (cpt) Carats USD/carat USD/tonne
Upper K4 mine 230-370m levels Probable K4 1,427,841 0.362 516,575 $164.00 $59.33
Probable K6 782,244 0.090 70,296 $164.00 $14.74
Total Probable   2,210,086 0.266 586,870 $164.00 $43.55

Based on a recoverable grade model for the current Lace plant configuration (+1.25mm bottom cut-off screen size)
Diamond price based on bulk sample parcels and January 2016 price book
Rounding has been applied
Plant recovery 100% of recoverable grade, mining recovery 100%
Effective date 1 February 2016.

3D model of the Lace kimberlites

3D model of the Lace kimberlites

The Lace Project

Map of South Africa indicating the location of the Lace project

The Lace Project is located 20km from Kroonstad in the Free State province of South Africa. The project contains an estimated 14 million carats of diamonds in tailings and kimberlite. Additional kimberlites have also been identified on the group’s adjoining properties.




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