Both the Merensky Reef (MR) and the UG2 Chromitite Layer (UG2) are well developed on the property with the middling distance between the two reef horizons large enough to allow the extraction of both over the largest part of the lease area. The reefs are gently dipping (5°) over substantial parts of the lease area as shown in fi gure on page 38, a 3D isometric view of the orebody, and are separated vertically from each other by distances of between 15 m and 50 m, and occur at depths ranging from 650 to 850 metres below surface.

The Merensky Reef (MR) is subdivided into four distinct facies types, ranging from thin single chromitite to wide ‘detached’ pyroxenitic reefs and also normal and normal footwall facies, all of which are extractable at an average width of 1.45 m. Typical MR facies and average resource cuts per facie are depicted in the figure below, the red bar indicating location of mineralisation.

The UG2 Reef is well developed, consisting of main, leader and triplet seams with an average width of 1.46 m and is subdivided into two facies types based on the footwall stratigraphy. Typical UG2 Reef facies (normal and regional pothole) and resource cuts are depicted in the figure below, the red bar indicating location of mineralisation.

The main shaft is intended to have a hoisting capacity of 255, 000 tpm of ore and 15, 000 tpm of waste per month. An initial 230,000 tpm will be mined from the Merensky Reef, with 20 000 tpm coming from the secondary UG2 Reef. After the Merensky Reef is depleted (between 10 to 15 years from the start of production), the full 255 000 tpm will comprise UG2 ore only. The Merensky Reef and the UG2 ore will be mined through semi-mechanised or hybrid methods using conventional methods on the face and mechanised ore-handling and development.

A concentrator plant treating 255 000 tonnes per month is planned for the BPM project. The plant will be designed, constructed and commissioned by an EPC contractor to be appointed during 2017, aiming towards a June 2019 commissioning date.

The company concluded a bulk UG2 and Merensky samples study at Mintek in February 2016, with the intention to produce data for the concentrator plant design. The plant will be a hybrid plant capable of treating both UG2 and Merensky ores separately or a 90:10 Merensky: UG2 blend. It will have three crushing stages and two milling and flotation stages. The concentrate from the plant will be filtered and trucked to a smelter on an off-take agreement while the tailings will be pumped to the tailings dam.