Document:

exv4w15

exhibit 4.15

SALE OF ASSETS AGREEMENT (SOUTH)

between

PAMODZI GOLD FREE STATE (PROPRIETARY) LIMITED

(IN PROVISIONAL LIQUIDATION)

and

HARMONY GOLD MINING COMPANY LIMITED

					
	 	 	 	 	 
	 
	 	
	 	

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 

	1

	 	PARTIES
	 	 	1	 
	2

	 	INTERPRETATION
	 	 	1	 
	3

	 	INTRODUCTION
	 	 	13	 
	4

	 	CONDITIONS PRECEDENT
	 	 	13	 
	5

	 	MERGER NOTIFICATION TO COMPETITION AUTHORITIES
	 	 	16	 
	6

	 	TRIGGER EVENT
	 	 	16	 
	7

	 	SALE
	 	 	17	 
	8

	 	PURCHASE CONSIDERATION
	 	 	17	 
	9

	 	ESCROW ACCOUNT
	 	 	18	 
	10

	 	PAYMENT OF THE PURCHASE CONSIDERATION
	 	 	18	 
	11

	 	CARE AND MAINTENANCE
	 	 	19	 
	12

	 	CLOSING
	 	 	20	 
	13

	 	VALUE OF SPECIFIED ASSETS
	 	 	21	 
	14

	 	REVIEW OF BUILDINGS, FIXED ASSETS AND EQUIPMENT AND INFRASTRUCTURE
	 	 	22	 
	15

	 	BUSINESS LIABILITIES
	 	 	22	 
	16

	 	REHABILITATION LIABILITIES
	 	 	22	 
	17

	 	CONDUCT OF SOUTH BUSINESS AND MANAGEMENT
	 	 	23	 
	18

	 	WARRANTIES BY THE SELLER
	 	 	24	 
	19

	 	GENERAL WARRANTIES
	 	 	25	 
	20

	 	EMBARGO
	 	 	26	 
	21

	 	CONFIDENTIALITY
	 	 	26	 
	22

	 	PUBLICITY
	 	 	28	 
	23

	 	SUPPORT
	 	 	29	 
	24

	 	BREACH
	 	 	29	 
	25

	 	DISPUTE RESOLUTION
	 	 	30	 
	26

	 	NOTICES AND DOMICILIA
	 	 	31	 
	27

	 	BENEFIT OF THE AGREEMENT
	 	 	32	 
	28

	 	APPLICABLE LAW AND JURISDICTION
	 	 	32	 
	29

	 	GENERAL
	 	 	33	 
	30

	 	COSTS
	 	 	34	 
	31

	 	SIGNATURE
	 	 	34	 

ANNEXURES

	 	 	 

	ANNEXURE “1”

	 	: PLAN AND COORDINATES
	ANNEXURE “2”

	 	: IMMOVABLE PROPERTY
	ANNEXURE “3”

	 	: SPECIFIED ASSETS
	ANNEXURE “4”

	 	: SURFACE RIGHT PERMITS
	ANNEXURE “5”

	 	: OLD ORDER MINING RIGHT

					
	 	 	 	 	 
	 
	 	
	 	

 

 

Page 1

WHEREBY THE PARTIES AGREE AS FOLLOWS —

	1	 	PARTIES

	1.1	 	Pamodzi Gold Free State (Proprietary) Limited (in provisional liquidation); and
	 
	1.2	 	Harmony Gold Mining Company Limited.

	2	 	INTERPRETATION

	2.1	 	In this Agreement —

	2.1.1	 	clause headings are for convenience only and are not to be used in
its interpretation;
	 
	2.1.2	 	an expression which denotes —

	2.1.2.1	 	any gender includes the other genders;
	 
	2.1.2.2	 	a natural person includes a juristic person and vice versa; and
	 
	2.1.2.3	 	the singular includes the plural and vice versa.

	2.2	 	In this Agreement, unless the context indicates a contrary
intention, the following words and expressions bear the meanings assigned to them
and cognate expressions bear corresponding meanings —

	2.2.1	 	“Administration Expenses Agreement” means the written agreement
entered into between the Purchaser and the Seller on 7 August 2009 in terms of
which the Purchaser agreed to pay the Seller an amount of R5,000,000 (five
million rand) in respect of certain expenses to be incurred by the Seller;
	 
	2.2.2	 	“AFSA” means the Arbitration Foundation of Southern Africa;
	 
	2.2.3	 	“Agreement” means this sale of assets agreement;
	 
	2.2.4	 	“Applicable Date” means 7 August 2009;
	 
	2.2.5	 	“Buildings” means all buildings located on the Immovable Property,
the Surface Right Permits and the Servitudes and all fixtures, fittings and
contents therein as at the Applicable Date;
	 
	2.2.6	 	“Business” means the gold mining, processing and related business
carried on by the Seller under the name and style of “President Steyn Gold Mine”
prior

					
	 	 	 	 	 
	 
	 	
	 	

 

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	 	 	to the Signature Date, which business included the operation of the Steyn Shafts;
	 
	2.2.7	 	“Business Liabilities” means all liabilities of whatsoever nature or kind, and wherever and
howsoever arising, of the Seller other than the Rehabilitation Liabilities;
	 
	2.2.8	 	“Care and Maintenance” means all care and maintenance reasonably necessary in respect of the
Sale Assets which shall include, inter alia —

	2.2.8.1	 	the continuation of all water pumping activities at Steyn 9 Shaft (previously known as
Freddies 9 Shaft) so as to ensure that there is no build-up of water in the shaft;
	 
	2.2.8.2	 	the continuation of the dewatering of Steyn 9 Shaft (previously known as Freddies 9 Shaft)
so as to ensure that the water level remains below the 57 level pump station;
	 
	2.2.8.3	 	the continuation of the dewatering of Steyn 3 Shaft (previously known as Loraine 3 Shaft)
between 71 and 75 level, so as to allow for the future recommissioning of the pump station on
74 level;
	 
	2.2.8.4	 	the continuation of the dewatering of Steyn 3 Shaft (previously known as Loraine 3 Shaft)
so as to ensure that the water level remains below the 73 level station footwall; and
	 
	2.2.8.5	 	the provision of all necessary security services to ensure that the Sale Assets are secure
and cannot be accessed by unauthorised persons;

	2.2.9	 	“Companies Act” means the Companies Act, 1973;
	 
	2.2.10	 	“Competition Act” means the Competition Act, 1998;
	 
	2.2.11	 	“Competition Authorities” means the commission established pursuant to Chapter 4, Part A of
the Competition Act or the tribunal established pursuant to Chapter 4, Part B of the
Competition Act or the appeal court established pursuant to Chapter 4, Part C of the
Competition Act, as the case may be;
	 
	2.2.12	 	“Condition Precedent Fulfilment Date” the date on which the last of the Conditions Precedent
has been fulfilled or waived, as the case may be;
	 
	2.2.13	 	“Conditions Precedent” means the conditions precedent set out in clause 4.1;

					
	 	 	 	 	 
	 
	 	
	 	

 

3

	2.2.14	 	“Deed of Cession” means a notarial deed of cession of the New Order Mining
Right prepared by the Purchaser’s Attorneys;
	 
	2.2.15	 	“DMR” means the Department of Mineral Resources of the Government of the Republic of South
Africa;
	 
	2.2.16	 	“Effective Date” means if there has been -

	2.2.16.1.1	 	no deterioration or damage as contemplated in clause 14.1, the 2nd (second)
business day after the Measurement Date; or
	 
	2.2.16.1.2	 	deterioration or damage as contemplated in clause 14.1, the 2nd (second)
business day after the later of the Measurement Date and the date of determination of the cost
of restoration in terms of clause 14.1;

	2.2.17	 	“Employees” means all employees of the Seller who are employed exclusively or predominantly
in respect of the South Business, other than the Management Employees;
	 
	2.2.18	 	“Equipment and Infrastructure” means all equipment, infrastructure, spares and inventory
owned and used by the Seller in or in connection with the South Business —

	2.2.18.1	 	whether above or below the surface, and which was situated on or below the South Business
Area as at the Applicable Date; and/or
	 
	2.2.18.2	 	which is held by contractors or service suppliers for repair, refurbishment or
reconditioning;

	2.2.19	 	“Fixed Assets” means all assets owned by the Seller in addition to the Buildings, the
Equipment and Infrastructure and the Immovable Property, used in or in connection with the
South Business, whether above or below the surface, and which were situated on or below the
South Business Area as at the Applicable Date;
	 
	2.2.20	 	“Gold Work-in-Progress” means all gold bearing material derived from the South Business
which had not yet been processed and sold as at the Applicable Date;
	 
	2.2.21	 	“Immovable Property” means the immovable property owned by the Seller and used in connection
with the South Business, details of which are listed in

					
	 	 	 	 	 
	 
	 	
	 	

 

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	 	 	annexure “2”;
	 
	2.2.22	 	“Income Tax Act” means the Income Tax Act, 1962;
	 
	2.2.23	 	“Independent Auditors” means such independent auditors as may be agreed between the Seller
and the Purchaser, or failing agreement within 48 (forty eight) hours from the date of a
request by either Party for such agreement, appointed by the Executive President for the time
being of the South African Institute of Chartered Accountants from one of the 4 (four) largest
(based on number of partners) independent firms of auditors in South Africa at the time;
	 
	2.2.24	 	“Intellectual Property” means all patents, registered and unregistered trade marks, service
marks, copyright, designs and applications for any of the aforegoing in any part of the world,
and any know-how, trade secrets and data associated with any of the aforegoing owned by the
Seller and used in or in connection with the South Business;
	 
	2.2.25	 	“Labour Relations Act” means the Labour Relations Act, 1995;
	 
	2.2.26	 	“Liquidators” means the provisional liquidators of the Seller being Allan David Pellow,
Barend Peterson, Deon Marius Botha, Enver Mohammed Motala, Gavin Cecil Gainsford and Johan
Engelbrecht;
	 
	2.2.27	 	“Management Employees” means all management level employees of the Seller who are employed
exclusively or predominantly in respect of the South Business;
	 
	2.2.28	 	“Management Termination Agreements” means written agreements in terms of section 197(6) of
the Labour Relations Act entered or to be entered into between the Seller, the Purchaser,
Avgold Limited and the Management Employees, in terms of which the employment of the
Management Employees with the Seller will be terminated for operational reasons with effect
from a date which is prior to the Effective Date, and the Management Employees waive all of
their rights and claims against the Purchaser’s Group under sections 197 and 197A of the
Labour Relations Act arising pursuant to the Sale;
	 
	2.2.29	 	“Measurement Date” means —

	2.2.29.1	 	the 2nd (second) business day immediately succeeding the day on which

					
	 	 	 	 	 
	 
	 	
	 	

 

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	 	 	the last of the Conditions Precedent has been fulfilled or waived, as the case may
be; or
	 
	2.2.29.2	 	if the Purchaser has indicated to the Seller at any time on or before the date referred
to in clause 2.2.29.1 that it is of the view that any of the Specified Assets has been
removed from the South Business Area, the 2nd (second) business day immediately
succeeding the day on which the value of such Specified Asset(s) is agreed or determined in
accordance with the provisions of clause 13.1;

	2.2.30	 	“Merger Notification” means the merger notice which may be submitted to the Competition
Authorities as contemplated in clause 5;
	 
	2.2.31	 	“Mining Titles Office” means the Mining Titles Office contemplated in section 2 of the
Mining Titles Registration Act, 1967;
	 
	2.2.32	 	“Minister” means the Minister of Mining;
	 
	2.2.33	 	“MPRDA” means the Mineral and Petroleum Resources Development Act, 2002;
	 
	2.2.34	 	“New Order Mining Right” means the mining right into which it is intended that the Old Order
Mining Right will be converted in terms of clause 4.1.4;
	 
	2.2.35	 	“North Business” means the “North Business” as defined in the North Sale Agreement;
	 
	2.2.36	 	“North Sale Agreement” means a written agreement entered or to be entered into between
Avgold Limited and the Seller in terms of which Avgold Limited acquires the gold mining,
processing and related business owned by the Seller and known as “President Steyn North
Division”;
	 
	2.2.37	 	“Old Order Mining Right” means all existing mineral rights, mining leases, mining licences,
surface right permits and other mining rights held by the Seller and which were used in
connection with the South Business prior to the Signature Date, including those listed in
annexure “4”;
	 
	2.2.38	 	“Parties” means the parties to this Agreement;
	 
	2.2.39	 	“Plant Sale Agreement” means a written agreement entered or to be entered into between the
Purchaser and the Seller in terms of which the Purchaser acquires the PSGM Plant and
associated assets;

					
	 	 	 	 	 
	 
	 	
	 	

 

6

	2.2.40	 	“Prime Rate” means the publicly quoted basic rate of interest, compounded
monthly in arrears and calculated on a 365 (three hundred and sixty five) day year
irrespective of whether or not the year is a leap year, from time to time published by
Absa Bank Limited as being its prime overdraft rate, as certified by any representative
of that bank whose appointment and designation it will not be necessary to prove;
	 
	2.2.41	 	“PSGM Plant” means the gold processing plant owned by the Seller, situated on the
Immoveable Property and known as the “PSGM Plant”;
	 
	2.2.42	 	“Purchase Consideration” means the amount payable by the Purchaser to the Seller for the
Sale Assets in terms of this Agreement, details of which are set out in clause 8;
	 
	2.2.43	 	“Purchaser” means Harmony Gold Mining Company Limited, registration number 1950/038232/06, a
limited liability public company duly incorporated in the Republic of South Africa;
	 
	2.2.44	 	“Purchaser’s Attorneys” means Cliffe Dekker Hofmeyr Incorporated, registration number
2008/018923/21, a limited liability private company duly incorporated in the Republic of South
Africa;
	 
	2.2.45	 	“Purchaser’s Group” means the Purchaser and its subsidiaries;
	 
	2.2.46	 	“Rehabilitation Fund” means the President Steyn Rehabilitation Trust, Master’s Reference
Number IT 1829/1998, a trust duly established in the Republic of South Africa;
	 
	2.2.47	 	“Rehabilitation Liabilities” means the Seller’s obligations to rehabilitate all
environmental disturbances, including health and pollution, and degradation existing within
the South Business Area (including any object and/or thing beneath the South Business Area),
which obligations arose prior to the Effective Date, and shall include —

	2.2.47.1	 	all restoration, anti-pollution measures, anti-flooding measures, making safe,
rehabilitation, compliance with the terms of any rehabilitation plans and/or programs approved
by the DMR; and
	 
	2.2.47.2	 	all compliance with all lawful directives of all regulatory authorities;

	2.2.48	 	“Related Agreements” means the Waste Rock Dump Sale Agreement, the Plant Sale Agreement and
the North Sale Agreement;

					
	 	 	 	 	 
	 
	 	
	 	

 

7

	2.2.49	 	“Sale” means the sale by the Seller of the Sale Assets to the Purchaser in terms
of this Agreement;
	 
	2.2.50	 	“Sale Assets” means all the assets owned by the Seller and used in or in connection with the
South Business, including —

	2.2.50.1	 	the Buildings;
	 
	2.2.50.2	 	the Gold Work-in-Progress;
	 
	2.2.50.3	 	the Equipment and Infrastructure;
	 
	2.2.50.4	 	the Fixed Assets;
	 
	2.2.50.5	 	the Immovable Property;
	 
	2.2.50.6	 	the Intellectual Property;
	 
	2.2.50.7	 	the New Order Mining Right;
	 
	2.2.50.8	 	the South Steyn Shafts;
	 
	2.2.50.9	 	the Stock;
	 
	2.2.50.10	 	all information and technical data relating to the South Business Area, including geology
reports, drill cores and the like;
	 
	2.2.50.11	 	all ore stockpiles; and
	 
	2.2.50.12	 	all prepaid expenses and deposits made in connection with the
South Business,

	 	 	but specifically excluding the PSGM Plant;

	2.2.51	 	“Seller” means Pamodzi Gold Free State (Proprietary) Limited (in provisional liquidation),
registration number 1998/019764/07, a limited liability private company duly incorporated in
the Republic of South Africa, duly represented herein by the Liquidators;
	 
	2.2.52	 	“Seller’s Designated Account” means the bank account nominated by the Seller, the details of
which are set out below, or such other account as the Seller may designate in writing on 5
(five) business days notice to the Purchaser —

					
	 	 	 	 	 
	 
	 	
	 	

 

8

	 	 	 

	Name of Account:

	 	Pamodzi Gold Free State (Proprietary)
Limited (In Liquidation)

	 
	 	 
	Bank:

	 	Absa Bank Limited

	 
	 	 
	Branch:

	 	Auckland Park

	 
	 	 
	Branch Code:

	 	632005
	 
	 	 
	Account Number:

	 	407 451 2528

	2.2.53	 	“Servitudes” means all servitudes granted to and used by the Seller in connection with the
Sale Assets, or which relate in any way to the Sale Assets, and which are capable of being
transferred by the Seller to the Purchaser;
	 
	2.2.54	 	“Signature Date” means the date of signature of this Agreement by the Party fast signing;
	 
	2.2.55	 	“South Business” means the gold mining, processing and related business carried on by the
Seller under the name and style of “President Steyn South Division” prior to the Signature
Date, which business included the operation of the South Steyn Shafts;
	 
	2.2.56	 	“South Business Area” means the area outlined in green and labelled “MINING LEASE AREA” on
the plan annexed hereto as annexure “1”, which area is depicted by the coordinates listed in
annexure “1”;
	 
	2.2.57	 	“South Steyn Shafts” means the gold mines known as Steyn 1 Shaft and Steyn 2 Shaft and the
ventilation shaft known as Steyn 1A Shaft;
	 
	2.2.58	 	“Specified Assets” means the assets listed
in annexure “3”, which form part of the Sale
Assets, photographs of which were taken on the Applicable Date and are contained on 2 (two)
identical compact discs signed by the Parties on the Signature Date and held in escrow by each
of the Purchaser’s Attorneys and Knowles Husain Lindsay Attorneys;
	 
	2.2.59	 	“Steyn Shafts” means the gold mines known as Steyn 1 Shaft, Steyn 2 Shaft Steyn 3 Shaft
(previously known as Lorraine 3 Shaft), Steyn 7 Shaft (previously known as Freddies 7 Shaft)
and Steyn 9 Shaft (previously known as Freddies 9 Shaft) and the ventilation shafts known as
Steyn 1A Shaft, Steyn 4 Shaft (previously known as Loraine 4 Shaft) and Steyn 8 Shaft
(previously known as Freddies 8 Shaft);
	 
	2.2.60	 	“Stock” means the stock-in-trade of the Seller relating to the South Business at the
Applicable Date, comprising —

					
	 	 	 	 	 
	 
	 	
	 	

 

9

	2.2.60.1	 	raw materials;
	 
	2.2.60.2	 	packaging materials;
	 
	2.2.60.3	 	work in progress;
	 
	2.2.60.4	 	finished products; and
	 
	2.2.60.5	 	spares and consumables,

	 	 	and includes all Stock in transit to and from the Seller, Stock held on consignment by
third parties and Stock held for reworking or processing by third parties;
	 
	2.2.61	 	“Surface Right Permits” means the surface right permits held by the Seller, details of which
are contained in annexure “2”;
	 
	2.2.62	 	“Supporting Documentation” means the initial environmental management plan(s), mine works
programme(s), social and labour plan(s) and other documents submitted by or on behalf of the
Seller in support of its application to convert the Old Order Mining Right into the New Order
Mining Right;
	 
	2.2.63	 	“Termination Agreements” means the Union Termination and Recall Agreement and the Management
Termination Agreements;
	 
	2.2.64	 	“Trigger Event” means the occurrence of 1 (one) or more of the following —

	2.2.64.1	 	any of the Termination Agreements not being unconditional in all respects;
	 
	2.2.64.2	 	any of the Termination Agreements not being of full force and effect for any reason
whatsoever;
	 
	2.2.64.3	 	any of the Termination Agreements having been amended or varied in any way whatsoever
without the Purchaser’s prior written consent;
	 
	2.2.64.4	 	the water level in Steyn 9 Shaft (previously known as Freddies 9 Shaft) having increased
to such an extent that the 57 level pump station is not fully operational in accordance with
its specifications;
	 
	2.2.64.5	 	the water level in Steyn 3 Shaft (previously known as Loraine 3 Shaft) having increased to
such an extent that the 69.5 level pump station is no longer able to pump water to 56 level at
the same rate as it did prior to the Seller being placed in provisional liquidation;

					
	 	 	 	 	 
	 
	 	
	 	

 

10

	2.2.64.6	 	any of the Specified Assets, which has a value (as agreed or determined in
accordance with the provisions of clause 13) of R18,000,000 (eighteen million rand)
or more, having been removed from the South Business Area;
	 
	2.2.64.7	 	Specified Assets, which have an aggregate value (as agreed or determined in accordance
with the provisions of clause 13) of R10,000,000 (ten million rand) or more, having been
removed from the South Business Area;
	 
	2.2.64.8	 	the Seller being in breach of this Agreement or having failed to comply with any of its
obligations under this Agreement which are required to have been complied with as at the
Measurement Date;
	 
	2.2.64.9	 	any amendments having been made to the Supporting Documentation without the Purchaser’s
prior written approval; and
	 
	2.2.64.10	 	any one or more events, circumstances, conditions or changes which result in, or which
will result in, individually or in the aggregate, a material adverse impact on the Sale Assets
and which has reduced, or will reduce, the value of the Sale Assets on a permanent basis by at
least R18,000,000 (eighteen million rand), provided that any changes in market conditions, of
whatsoever nature or kind, including fluctuations in interest rates and commodity prices and
changes in the availability of products, shall not constitute a Trigger Event and shall not be
taken into account in any manner in determining any reduction in the value of the Sale Assets;

	2.2.65	 	“Union Termination and Recall Agreement” means a written agreement(s) in terms of section
197(6) of the Labour Relations Act entered or to be entered into between the Seller, the
Purchaser, Avgold Limited and the appropriate person(s) or body(ies) referred to in section
189(1) of the Labour Relations Act in respect of the Employees (“Authorised Person”), in
terms of which the —

	2.2.65.1	 	Authorised Person agrees to the termination of the Employees’ employment with the Seller
for operational reasons with effect from a date which is prior to the Effective Date, and
waives all of the Employees’ and, where applicable, the Authorised Person’s, rights and claims
against the Purchaser’s Group under sections 197 and 197A of the Labour Relations Act arising
pursuant to the Sale; and
	 
	2.2.65.2	 	Purchaser or Avgold Limited, as the case may be, agrees to recall some or all of the
Employees on and subject to specified terms and conditions;

					
	 	 	 	 	 
	 
	 	
	 	

 

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	2.2.66	 	“VAT” means value-added tax as levied from time to time in terms of the VAT Act;
	 
	2.2.67	 	“VAT Act” means the Value-Added Tax Act, 1991;
	 
	2.2.68	 	“Warranties” means the warranties expressly given by the Seller to the Purchaser in terms of
this Agreement; and
	 
	2.2.69	 	“Waste Rock Dump Sale Agreement” means a written agreement entered or to be entered into
between Harmony and the Seller in terms of which Harmony acquires the waste rock dump owned by
the Seller and known as “Freddies 9 Shaft Waste Rock Dump”.

	2.3	 	Any substantive provision, conferring rights or imposing obligations on a Party and appearing
in any of the definitions in this clause 1 or elsewhere in this Agreement, shall be given
effect to as if it were a substantive provision in the body of the Agreement.
	 
	2.4	 	Words and expressions defined in any clause shall, unless the application of any such word or
expression is specifically limited to that clause, bear the meaning assigned to such word or
expression throughout this Agreement.
	 
	2.5	 	Subject to clauses 2.6, 2.8 and 2.17, defined terms appearing in this Agreement in title case
shall be given their meaning as defined, while the same terms appearing in lower case shall be
interpreted in accordance with their plain English meaning.
	 
	2.6	 	The terms “holding company” and “subsidiary” shall bear the meanings assigned thereto in the
Companies Act.
	 
	2.7	 	A reference to any statutory enactment shall be construed as a reference to that enactment as
at the Signature Date and as amended or substituted from time to time.
	 
	2.8	 	Reference to “days” shall be construed as calendar days unless qualified by the word
“business”, in which instance a “business day” will be any day other than a Saturday, Sunday
or public holiday as gazetted by the government of the Republic of South Africa from time to
time. Any reference to “business hours” shall be construed as being the hours between 08h30
and 17h00 on any business day. Any reference to time shall be based upon South African
Standard Time.

					
	 	 	 	 	 
	 
	 	
	 	

 

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	2.9	 	Unless specifically otherwise provided, any number of days prescribed shall be
determined by excluding the first and including the last day or, where the last day falls
on a day that is not a business day, the next succeeding business day.
	 
	2.10	 	Where figures are referred to in numerals and in words, and there is any conflict between the
two, the words shall prevail, unless the context indicates a contrary intention.
	 
	2.11	 	No provision herein shall be construed against or interpreted to the disadvantage of a Party
by reason of such Party having or being deemed to have structured, drafted or introduced such
provision.
	 
	2.12	 	The Parties, unless specifically otherwise provided, shall be deemed to be contracting as
principals and not as agents.
	 
	2.13	 	The expiration or termination of this Agreement shall not affect such of the provisions of
this Agreement as expressly provide that they will operate after any such expiration or
termination or which of necessity must continue to have effect after such expiration or
termination, notwithstanding that the clauses themselves do not expressly provide for this.
	 
	2.14	 	The words “include” and “including” mean “include without limitation” and “including without
limitation”. The use of the words “include” and “including” followed by a specific example or
examples shall not be construed as limiting the meaning of the general wording preceding it.
	 
	2.15	 	Whenever any person is required to act “as an expert and not as an arbitrator” in terms of
this Agreement, then —

	2.15.1	 	the determination of the expert shall (in the absence of manifest error) be final and
binding;
	 
	2.15.2	 	subject to any express provision to the contrary, the expert shall determine the liability
for his or its charges, which shall be paid accordingly;
	 
	2.15.3	 	the expert shall be entitled to determine such methods and processes as he or it may, in his
or its sole discretion, deem appropriate in the circumstances provided that the expert may not
adopt any process which is manifestly biased, unfair or unreasonable;
	 
	2.15.4	 	the expert shall consult with the relevant Parties (provided that the extent of the expert’s
consultation shall be in his or its sole discretion) prior to rendering

					
	 	 	 	 	 
	 
	 	
	 	

 

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	 	 	a determination; and
	 
	2.15.5	 	having regard to the sensitivity of any confidential information, the expert shall be
entitled to take advice from any person considered by him or it to have expert knowledge with
reference to the matter in question.

	2.16	 	Any reference in this Agreement to “this Agreement” or any other agreement or document shall
be construed as a reference to this Agreement or, as the case may be, such other agreement or
document, as amended, varied, novated or supplemented from time to time.
	 
	2.17	 	This Agreement incorporates the annexures which annexures shall have the same force and
effect as if set out in the body of this Agreement. In this Agreement the words “clause” or
“clauses” and “annexure” or “annexures” refer to clauses of and annexures to this Agreement.

	3	 	INTRODUCTION

	3.1	 	The Seller is the beneficial, and where applicable registered, owner of the Sale Assets.
	 
	3.2	 	The Purchaser wishes to purchase the Sale Assets and the Seller wishes to sell the Sale
Assets to the Purchaser on the terms and conditions herein contained.
	 
	3.3	 	The Parties wish to record in writing their agreement in respect of the above and matters
ancillary thereto.

	4	 	CONDITIONS PRECEDENT

	4.1	 	Save for clauses 1 to 5, clauses 11, 14 and 17 and clauses 19 to 31 (both inclusive) all of
which will become effective immediately, this Agreement is subject to the fulfilment of the
Conditions Precedent that —

	4.1.1	 	by not later than 17h00 on 30 October 2009, the Purchaser has entered into a written
agreement with Eskom Limited providing for the supply of electricity to the South Business and
the North Business with an aggregate baseline of no less than what was approved by Eskom
Limited for the South Business and the North Business prior to the Seller being placed in
provisional liquidation;
	 
	4.1.2	 	by not later than 17h00 on 30 October 2009, the Purchaser is satisfied, acting reasonably,
that all necessary steps have been taken and documents signed so as to ensure that the Surface
Right Permits and Servitudes can be

					
	 	 	 	 	 
	 
	 	
	 	

 

14

	 	 	transferred to the Purchaser, and such transfers can, to the extent necessary, be
registered in the Mining Titles Office, forthwith after the Effective Date;
	 
	4.1.3	 	by not later than 17h00 on 21 December 2009, the Sale (to the extent necessary) has been
unconditionally approved by the Competition Authorities in terms of the Competition Act, or
conditionally approved on terms and conditions acceptable to the Purchaser;
	 
	4.1.4	 	by not later than 17h00 on 29 January 2010, the Old Order Mining Right has been converted
into the New Order Mining Right in terms of Item 7 of Schedule II to the MPRDA;
	 
	4.1.5	 	by not later than 17h00 on 29 January 2010, the Minister has granted approval for the
transfer of the New Order Mining Right from the Seller to the Purchaser in terms of section 11
of the MPRDA and the Deed of Cession has been executed;
	 
	4.1.6	 	by not later than 17h00 on 29 January 2010, each of the DMR and the South African Revenue
Service has, to the extent necessary, granted its approval for the transfer of the amount
referred to in clause 16.2 from the Rehabilitation Fund to the Harmony Gold Environmental
Trust Fund;
	 
	4.1.7	 	by not later than 17h00 on 18 September 2009, The Industrial Development Corporation of
Southern Africa Limited has consented to the Sale and the Seller has provided the Purchaser
with written proof of such consent in a form and substance acceptable to the Purchaser;
	 
	4.1.8	 	by not later than 17h00 on 18 September 2009, the North Gauteng High Court, Pretoria has
approved the Sale;
	 
	4.1.9	 	by not later than 17h00 on 29 January 2010, the North Sale Agreement has been entered into
and has become unconditional in accordance with its terms, save insofar as it is conditional
on this Agreement becoming unconditional;
	 
	4.1.10	 	by not later than 17h00 on 8 September 2009, the Union Termination and Recall Agreement has
been entered into;
	 
	4.1.11	 	by not later than 17h00 on 20 November 2009, the Management Termination Agreements have been
entered into and have become unconditional in all respects; and
	 
	4.1.12	 	by not later than 17h00 on 20 November 2009, a certificate of registration has

					
	 	 	 	 	 
	 
	 	
	 	

 

15

	 	 	been granted to the Purchaser in respect of the Sale Assets under the National
Nuclear Regulator Act, 1999.
	 
	4.2	 	The Parties shall use their commercially reasonable endeavours and the Parties will
co-operate in good faith to procure the fulfilment of the Conditions Precedent as soon as
reasonably possible after the Signature Date.
	 
	4.3	 	In the event that the Purchaser is of the view, acting reasonably, that it will not be
possible to fulfil the Conditions Precedent set out in clauses 4.1.4 and 4.1.5 either
timeously or at all, the Seller undertakes to take all such steps and do all such things as
are within its power to procure that, subject to the fulfilment of the remaining Conditions
Precedent, the Purchaser becomes the holder of a mining right granted under the MPRDA in
respect of the same area as is covered by the Old Order Mining Right, and this Agreement will
be deemed to have been amended accordingly.
	 
	4.4	 	The Conditions Precedent set out in —

	4.4.1	 	clauses 4.1.1, 4.1.2, 4.1.4, 4.1.5, 4.1.6, 4.1.7, and 4.1.9 to 4.1.12 (both inclusive) have
been inserted for the benefit of the Purchaser which will be entitled to waive fulfilment of
any of the said Conditions Precedent, in whole or in part, on written notice to the Seller
prior to the expiry of the relevant time periods set out in those clauses; and
	 
	4.4.2	 	clauses 4.1.3 and 4.1.8 are not capable of being waived.

	4.5	 	The Purchaser shall be entitled to extend the date for fulfilment of all or any of the
Conditions Precedent on written notice to the Seller, provided that no such extension in
respect of any Condition Precedent shall be more than 60 (sixty) business days in the
aggregate.
	 
	4.6	 	Unless all the Conditions Precedent have been fulfilled or waived, as the case may be, by not
later than the date for fulfilment thereof set out above (or such later date/s as may be extended
in terms of clause 4.5 or as may be agreed between the Parties in writing) the provisions of this
Agreement, save for clauses 1 to 5, clauses 11 and 17 and clauses 19 to 31 (both inclusive) which
will remain of full force and effect, will never become of any force or effect and the status quo
ante will be restored as near as may be possible and neither of the Parties will have any claim
against the other in terms hereof or arising from the failure of the Conditions Precedent, save for
any claims arising from a breach of clause 4.2.

					
	 	 	 	 	 
	 
	 	
	 	

 

16

	5	 	MERGER NOTIFICATION TO COMPETITION AUTHORITIES

	5.1	 	It is recorded that the Sale will result in a change in
control, as contemplated by Chapters 3
of the Competition Act, which will require the approval of the Competition Authorities
prior to this Agreement being implemented.
	 
	5.2	 	The Parties shall as soon as reasonably possible after the Signature Date and in any event by
not later than 20 (twenty) business days after the Signature Date jointly instruct the
Purchaser’s Attorneys to prepare and submit a merger notice in respect of the Sale to the
Competition Authorities in terms of the Competition Act, for approval.
	 
	5.3	 	The Parties shall procure that the Merger Notification is submitted to the Competition
Authorities as soon as possible after the Signature Date.
	 
	5.4	 	Each of the Parties shall —

	5.4.1	 	sign all documents and expeditiously provide all necessary information upon being required
to do so;
	 
	5.4.2	 	use its commercially reasonable endeavours and shall take all such steps and render all such
assistance as may be reasonably necessary to procure that the Merger Notification is properly
prepared and duly submitted within the time period specified in clause 5.3; and
	 
	5.4.3	 	do everything required by the Competition Authorities in order to enable the Merger
Notification to be dealt with, to the extent that it is within its power to do so.

	5.5	 	The Purchaser shall pay the costs of and associated with the filing of the Merger
Notification. These costs shall include the filing fee payable in connection with the filing
of the Merger Notification and the legal fees of the Purchaser’s Attorneys for the preparation
and submission of the Merger Notification but shall exclude each Party’s other legal costs
associated with the preparation of such Merger Notification (if any), which costs will be for
each Party’s own account.

	6	 	TRIGGER EVENT

	6.1	 	Notwithstanding the fulfilment or waiver of the Conditions Precedent, the Purchaser shall
not be obliged to pay the Purchase Consideration or proceed with the Sale, and shall be
entitled to terminate this Agreement on written notice to the Seller, in the event that a
Trigger Event has occurred at any time on or

					
	 	 	 	 	 
	 
	 	
	 	

 

17

	 	 	before the Measurement Date.
	 
	6.2	 	In the event that the Purchaser terminates this Agreement in accordance with the provisions of clause
6.1, the status quo ante will be restored as near as may be possible and, without prejudice to the
Parties’ rights in terms of clause 24, neither of the Parties will have any claim against the other
arising from such termination.

	7	 	SALE

	7.1	 	The Seller hereby sells to the Purchaser which hereby purchases the Sale Assets.
	 
	7.2	 	Notwithstanding the Signature Date, the Sale will take place on the Effective Date and
ownership of and risk in and benefit attaching to the Sale Assets will, against payment of the
amounts due and payable in terms of clause 10.1.1, pass to the Purchaser on the Effective
Date.
	 
	7.3	 	Possession and effective control of the Sale Assets will be given to the Purchaser on the
Effective Date.
	 
	7.4	 	Ownership of the Immovable Property will pass to the Purchaser on registration of transfer.

	8	 	PURCHASE CONSIDERATION
	 
	 	 	The Purchase Consideration is an amount equal to R180,000,000 (one hundred and eighty million
rand), less —

	8.1	 	the value (as agreed or determined in accordance with the provisions of clause 13) of any of
the Specified Assets which have been removed from the South Business Area at any time on or
before the Effective Date;
	 
	8.2	 	the aggregate of the cost of restoration of the Buildings, Fixed Assets and Equipment and
Infrastructure as agreed or determined in accordance with the provisions of clause 14.1;
	 
	8.3	 	any amount deducted by the Purchaser in terms of clause 11.3; and
	 
	8.4	 	any amount paid by the Purchaser, or any member of the Purchaser’s Group, in consultation
with and for and on behalf of the Seller and/or the Liquidators (other than in terms of the
Administration Expenses Agreement) at any time prior to the Effective Date and which has not
been repaid or deducted from the purchase consideration payable under the Waste Rock Dump Sale
Agreement, the Plant

					
	 	 	 	 	 
	 
	 	
	 	

 

18

	 	 	Sale Agreement or the North Sale Agreement,

	 	 	plus VAT thereon.
	 
	9	 	ESCROW ACCOUNT

	9.1	 	On the 1st (first) business day after the later of the payment of the respective
purchase considerations under the Plant Sale Agreement and the Waste Rock Dump Sale Agreement
to the Seller, the Purchaser shall be obliged to pay an amount of R180,000,000 (one hundred
and eighty million rand) (“Escrow Amount”) to the Purchaser’s Attorneys with instructions
that they —

	9.1.1	 	invest the Escrow Amount in an interest bearing trust account, with interest accruing for
the benefit of the Purchaser, for a maximum period of 6 (six) months from the Signature Date;
and
	 
	9.1.2	 	pay the amounts set out in clause 10 on the dates referred to therein to the Seller out of
the Escrow Amount for and on behalf of the Purchaser and thereafter refund the balance of the
Escrow Amount, plus all interest accrued thereon, to the Purchaser; or
	 
	9.1.3	 	repay the Escrow Amount, plus all interest accrued thereon, to the Purchaser in the event
that the Effective Date has not occurred by the expiry of a period of 6 (six) months from the
Signature Date.

	9.2	 	The provisions of this clause 9 shall constitute an instruction by the Purchaser to the
Purchaser’s Attorneys to invest the Escrow Amount in accordance with the provisions of section
78(2A) of the Attorney’s Act, 1979.

	10	 	PAYMENT OF THE PURCHASE CONSIDERATION

	10.1	 	The Purchase Consideration will be paid by the Purchaser against compliance by the
Seller with the provisions of clause 12, as follows —

	10.1.1	 	an amount equal to the Purchase Consideration less R6,632,167.96 (six million six hundred
and thirty two thousand one hundred and sixty seven rand and ninety six cents), plus VAT
thereon on the Effective Date; and
	 
	10.1.2	 	R6.632,167.96 (six million six hundred and thirty two thousand one hundred and
sixty seven rand and ninety six cents), plus VAT thereon and interest at the Prime Rate
less 3% (three percent) from the Effective Date until the day immediately preceding the
date of payment, on the 2nd (second) business day

					
	 	 	 	 	 
	 
	 	
	 	

 

19

	 	 	after the transfer of the amount referred to in clause 16.2.

	10.2	 	All payments to be made in terms of this Agreement will be made by electronic
transfer of immediately available and freely transferable funds to the Seller’s
Designated Account, free of any deductions or set-off whatsoever, in the currency of
the Republic of South Africa.

	11	 	CARE AND MAINTENANCE

	11.1	 	The Seller undertakes to —

	11.1.1	 	carry out the Care and Maintenance between the Signature Date and the Effective Date; and
	 
	11.1.2	 	procure that it has sufficient employees or contract workers to carry out its obligations in
terms of clause 11.1.1.

	11.2	 	The Seller hereby undertakes to apply reasonable standards generally applied in the South
African mining industry in carrying out all Care and Maintenance between the Signature Date
and the Effective Date.
	 
	11.3	 	If, at any time prior to the Effective Date, the Seller has insufficient funds to carry out
all Care and Maintenance which the Purchaser deems appropriate, acting reasonably, the
Purchaser shall be entitled to either —

	11.3.1	 	procure that all Care and Maintenance is carried out at its expense and to deduct all
amounts expended by it in respect thereof from the Purchase Consideration;
	 
	11.3.2	 	advance amounts to the Seller from time to time in order that the Seller is able to carry
out all Care and Maintenance and to deduct all such amounts advanced to the Seller from the
Purchase Consideration; or
	 
	11.3.3	 	terminate this Agreement on written notice to the Seller, in which event the Purchaser shall
have no further obligations to the Seller arising out of this Agreement.

	11.4	 	In addition to the Care and Maintenance, the Sellers hereby undertake to ensure that all —

	11.4.1	 	of the Sale Assets are maintained so that, on the Effective Date, they will be in
substantially same condition as they were on the Applicable Date; and

					
	 	 	 	 	 
	 
	 	
	 	

 

20

	11.4.2	 	electronic information and records relating to the business is adequately
secure and backed up so that all such information and records are available to the
Purchaser on the Effective Date.

	12	 	CLOSING

	12.1	 	On the Effective Date representatives of the Parties shall meet at 10h00 at the offices of
the Purchaser’s Attorneys or such other place as the Parties may agree, at which meeting the
Seller will deliver to the Purchaser —

	12.1.1	 	a tax invoice in respect of the Purchase Consideration;
	 
	12.1.2	 	all of the Sale Assets, by such mode of actual or constructive delivery as shall be
appropriate in the circumstances; and
	 
	12.1.3	 	to the extent to which they exist, all books, records and other relevant documents
pertaining solely to the South Business, provided that —

	12.1.3.1	 	insofar as the Seller is obliged in law to retain any such book, record or document, it
shall deliver a photocopy thereof to the Purchaser; and
	 
	12.1.3.2	 	if the Seller requires, at any time after the Effective Date, to make copies of or inspect
any such book, record or document relating to any period prior to the Effective Date, in terms
of or in order to comply with any law or other legal obligation, it shall be entitled to do so
during normal business hours upon reasonable notice to the Purchaser.

	12.2	 	The Seller hereby undertakes to sign and execute, upon request by the Purchaser, all such
documents as may be required to procure, at the cost of the Purchaser, the transfer and, to
the extent possible, the registration of the transfer of the Surface Right Permits, the
Servitudes and any other Sale Assets into the name of the Purchaser.
	 
	12.3	 	The Seller hereby undertakes to sign and execute, upon request by the Purchaser, all such
documents as may be required to procure, at the cost of the Purchaser, the transfer of all or
any licences which the Seller holds in respect of any of the Sale Assets and/or the North
Business.
	 
	12.4	 	The Parties may, by agreement in writing, dispense with a meeting on the Effective Date and
may instead ensure delivery of the documents referred to in clause 12.1 and clause 12.2, and
payment of the amount due and payable in terms of clause 10.1.1, in such other manner as they
agree to be convenient.

					
	 	 	 	 	 
	 
	 	
	 	

 

21

	12.5	 	Transfer of the immovable Property, the Surface Right Permits and the
Servitudes into the name of the Purchaser shall be given to the Purchaser promptly after
the Purchaser has paid the costs of and incidental to the transfer of the Immovable
Property, the Surface Right Permits and the Servitudes into the name of the Purchaser.
Transfer shall be effected by the Purchaser’s Attorneys. The Purchaser and the Seller
shall on request from the Purchaser’s Attorneys, sign all documents required to be signed
by the Purchaser’s Attorneys in order that transfer of the Immovable Property, the Surface
Right Permits and the Servitudes may be effected.
	 
	12.6	 	Transfer of the New Order Mining Right into the name of the Purchaser shall be effected by
the Purchaser’s Attorneys at the Purchaser’s cost. The Purchaser and the Seller shall on
request from the Purchaser’s Attorneys sign all documents required to be signed by the
Purchaser’s Attorneys in order that transfer of the New Order Mining Right may be effected.
	 
	12.7	 	If the Seller fails to sign and execute any document referred to in this clause 12 within 5
(five) business days of any written request therefor by the Purchaser, the Seller hereby
irrevocably appoints the Purchaser as its attorney and agent in rem suam to do all such things
and sign and execute any documents on its behalf to procure the relevant transfer or
registration.

	13	 	VALUE OF SPECIFIED ASSETS

	13.1	 	The Specified Assets will be reviewed by the Parties on or as soon as possible after the
Condition Precedent Fulfilment Date. Should any of the Specified Assets —

	13.1.1	 	which has a value of R18,000,000 (eighteen million rand) or more; and/or
	 
	13.1.2	 	which have an aggregate value of R18,000,000 (eighteen million rand) or more,

	 	 	have been removed from the South Business Area since the Applicable Date, the cost of
replacing such Specified Assets will be agreed between the Parties or, failing agreement
within 48 (forty eight) hours, be determined by the Independent Auditors (acting as
experts and not as arbitrators) at the request of either of the Parties.
	 
	13.2	 	If and to the extent that the Purchaser has not notified the Seller that it is of the view
that any of the Specified Assets —

					
	 	 	 	 	 
	 
	 	
	 	

 

22

	13.2.1	 	which has a value of R18,000,000 (eighteen million rand) or more; and/or
	 
	13.2.2	 	which have an aggregate value of R18,000,000 (eighteen million rand) or more,

	 	 	has/have been removed from the South Business Area since the Applicable Date, within 10
(ten) business days of the Condition Precedent Fulfilment Date, there will be deemed not
to have been any such removal.

	14	 	REVIEW OF BUILDINGS, FIXED ASSETS AND EQUIPMENT AND INFRASTRUCTURE

	14.1	 	The condition of the Buildings, the Fixed Assets and the Equipment and Infrastructure will be
reviewed by the Parties on or as soon as possible after the Condition Precedent Fulfilment
Date. Should the condition of any of the Buildings, the Fixed Assets or the Equipment and
Infrastructure have deteriorated or been damaged (excluding fair wear and tear) since the
Applicable Date, the cost of restoring such Buildings, Fixed Assets and/or
Equipment and Infrastructure to the same condition as it was in on the Applicable Date will
be agreed between the Parties or, failing agreement within 48 (forty eight) hours, be
determined by the Independent Auditors (acting as experts and not as arbitrators) at the
request of either of the Parties.
	 
	14.2	 	If and to the extent that the Purchaser has not notified the Seller that it is of the view
that there has been deterioration or damage as contemplated in clause 14.1 within 10 (ten)
business days after the Condition Precedent Fulfilment Date, there will be deemed not to have
been any such deterioration or damage.

	15	 	BUSINESS LIABILITIES
	 
	 	 	The Seller hereby acknowledges and agrees that the Sale specifically excludes the Business
Liabilities.
	 
	16	 	REHABILITATION LIABILITIES

	16.1	 	The Seller hereby delegates the Rehabilitation Liabilities to the Purchaser, and the
Purchaser hereby assumes the Rehabilitation Liabilities, with effect from the Effective Date.
	 
	16.2	 	The Seller will, as soon as possible after the Effective Date, and in any event by no later
than 60 (sixty) business days thereafter, procure the transfer of an amount of R6,632,167.96
(six million six hundred and thirty two thousand one

					
	 	 	 	 	 
	 
	 	
	 	

 

23

	 	 	hundred and sixty seven rand and ninety six cents) from the Rehabilitation Fund to the
Harmony Gold Environmental Trust Fund, together with 39.15% (thirty nine point one five
percent) of any growth in such amount between the Signature Date and the date of transfer
of the amount.
	 
	16.3	 	The Seller warrants that, as at 21 July 2009, the amount standing to the credit of the
Rehabilitation Fund is not less than R16,940,402.96 (sixteen million nine hundred and forty
thousand four hundred and two rand and ninety six cents).

	17	 	CONDUCT OF SOUTH BUSINESS AND MANAGEMENT

	17.1	 	The Seller shall procure that, from the Signature Date until the Effective Date,
to the extent that all or any part of the South Business is carried on in any manner
whatsoever that it will be carried on in substantially the usual and ordinary course,
and the Seller shall not enter into any contract or commitment or do anything which,
in any such case, is out of the ordinary or usual course of the South Business,
without obtaining the prior written consent of the Purchaser, which consent may not be
unreasonably withheld or delayed. In particular, but without limitation to the
generality of the aforegoing, the Seller undertakes that from the Signature Date until
the Effective Date it will not —

	17.1.1	 	alter the existing nature or scope of the South Business;
	 
	17.1.2	 	manage the South Business otherwise than in accordance with its business and trading
policies and practices up to the Signature Date, except as may be necessary to comply with any
statutory changes;
	 
	17.1.3	 	remove any of the Sale Assets (or any part thereof) from the South Business Area for any
reason whatsoever, or allow anyone else to so remove any of the Sale Assets (or any part
thereof);
	 
	17.1.4	 	enter into any transaction in respect of or in connection with the South Business other
than on arms’-length terms and for full and proper consideration;
	 
	17.1.5	 	dispose of or enter into any agreement to dispose of (whether by one transaction or by a
series of transactions) the whole or any substantial or material part of the South Business;
	 
	17.1.6	 	incur or agree to incur any capital expenditure in respect of or in connection with the
South Business other than in the normal course of business;

					
	 	 	 	 	 
	 
	 	
	 	

 

24

	17.1.7	 	enter into or agree to enter into any joint venture, partnership or agreement or
other venture in respect of or in connection with the South Business for the sharing of
profits or assets;
	 
	17.1.8	 	enter into or agree to enter into any death, retirement, profit-sharing, bonus, share
option, share incentive or other scheme for the benefit of any of the Employees or make any
variation (including, but without limitation, any increase in the rates of contribution) to
any such existing scheme or effect any keyman insurance;
	 
	17.1.9	 	commence, compromise or discontinue any legal, administrative, regulatory or arbitration
proceedings (other than routine debt collection) in respect of or in connection with the South
Business; or
	 
	17.1.10	 	make or agree to any amendment, variation, deletion, addition, renewal or extension to or
of, terminate or give any notice or intimation of termination of or breach or fail to comply
with the terms of any of the Material Contracts.

	17.2	 	The Seller shall, between the Signature Date and the Effective Date, keep the Purchaser
appraised of all and any material decisions which the Seller intends to make in respect of the
South Business, it being specifically recorded and agreed that nothing in this clause 17 shall
entitle the Purchaser to determine and/or materially influence any such material decision,
it being recorded, for the avoidance of doubt, that the Purchaser shall not be entitled to
manage and/or control the South Business or any part thereof, in any way before the Effective
Date.
	 
	17.3	 	The Seller shall procure that the Purchaser and its employees, agents,
representatives and advisers have full and unrestricted access to the Sale Assets at all times
between the Signature Date and the Effective Date for planning purposes and to monitor
compliance by the Seller with the provisions of clause 11.
	 
	17.4	 	The Seller shall, between the Signature Date and the Effective Date, deliver copies of all
notices, reports, plans and correspondence created or received by it and/or the Liquidators
and which materially affect the Sale Assets to the Purchaser.

	18	 	WARRANTIES BY THE SELLER

	18.1	 	The Seller hereby warrants to and in favour of the Purchaser that —

					
	 	 	 	 	 
	 
	 	
	 	

 

25

	18.1.1	 	the Seller is the sole and beneficial owner of the Sale Assets (other than the
Surface Right Permits) and the Liquidators have the right and are able to sell and give
free and unencumbered title to the Sale Assets to the Purchaser;
	 
	18.1.2	 	the Seller is the beneficial holder of the Surface Right Permits, same being registered in
the name of Free State Consolidated Gold Mines (Operations) Limited, and the Seller and the
Liquidators will use their best endeavours to give free and unencumbered title to the Surface
Right Permits to the Purchaser; and
	 
	18.1.3	 	subject to the fulfilment of the Conditions Precedent, no person has any right (whether
pursuant to any option, right of first refusal or otherwise) to purchase or acquire (whether
as security or otherwise) any of the Sale Assets other than the right to purchase trading
stock in the normal course of business for value.

	18.2	 	Each Warranty will —

	18.2.1	 	be a separate Warranty and will in no way be limited or restricted by reference to or
inference from the terms of any other Warranty or by any other words in this Agreement;
	 
	18.2.2	 	unless the context indicates a contrary intention, be given as at the Signature Date and the
Effective Date; and
	 
	18.2.3	 	continue and remain in force notwithstanding the completion of the Sale.

	18.3	 	It is recorded that the Purchaser has entered into this Agreement on the strength of the
Warranties and on the basis that the Warranties will be correct on the Signature Date and the
Effective Date.
	 
	18.4	 	Save for the Warranties and representations expressly given or made in this Agreement, no
warranties or representations are given or made, in respect of the Sale Assets, or any other
matter whatsoever, whether express, tacit or implied, and the Sale Assets are being sold on a
voetstoots basis.

	19	 	GENERAL WARRANTIES

	19.1	 	Each of the Parties hereby warrants to and in favour of the other that —

	19.1.1	 	it has the legal capacity and has taken all necessary corporate action required to empower
and authorise it to enter into this Agreement;
	 
	19.1.2	 	this Agreement constitutes an agreement valid and binding on it and
	 

					
	 	 	 	 	 
	 
	 	
	 	

 

26

	 	 	

	 	 	enforceable against it in accordance with its terms;
	 
	19.1.3	 	the execution of this Agreement and the performance of its obligations hereunder does not
and shall not —

	19.1.3.1	 	contravene any law or regulation to which that Party is subject;
	 
	19.1.3.2	 	contravene any provision of that Party’s constitutional documents; or
	 
	19.1.3.3	 	conflict with, or constitute a breach of any of the provisions of any other agreement,
obligation, restriction or undertaking which is binding on it.

	19.2	 	Each of the representations and warranties given by the Parties in terms of clause 19.1,
shall —

	19.2.1	 	be a separate warranty and will in no way be limited or restricted by inference from the
terms of any other warranty or by any other words in this Agreement;
	 
	19.2.2	 	continue and remain in force notwithstanding the completion of any or all the transactions
contemplated in this Agreement; and
	 
	19.2.3	 	prime facie be deemed to be material and to be a material representation inducing the other
Party to enter into this Agreement.

	20	 	EMBARGO
	 
	 	 	The Seller undertakes that during the period from the Signature Date to the Effective Date
or until the failure of this Agreement to become unconditional in terms of clause 4 or to it
being finally terminated for any reason (i.e. the termination is not, or is no longer, the
subject of any dispute resolution process) it will not enter into any negotiation with, or
seek to solicit any interest from, any third party in relation to the sale of the South
Business, the Sale Assets or any part thereof, whether directly or indirectly.
	 
	21	 	CONFIDENTIALITY

	21.1	 	The Parties undertake that during the operation of, and after the expiration, termination or
cancellation of, this Agreement for any reason, they will keep confidential —

	21.1.1	 	any information which a Party (“Disclosing Party”) communicates to the other Party
(“Recipient”) and which is stated to be or by its nature is intended to be confidential;

					
	 	 	 	 	 
	 
	 	
	 	

 

27

	21.1.2	 	all other information of the same confidential nature concerning the South
Business or the business of a Disclosing Party which comes to the knowledge of the
Recipient whilst it is engaged in negotiating the terms of this Agreement or after its
conclusion, including —

	21.1.2.1	 	details of the Disclosing Party’s financial structures and operating results; and
	 
	21.1.2.2	 	details of the Disclosing Party’s strategic objectives and planning.

	21.2	 	If a Recipient is uncertain about whether any information is to be treated as confidential in
terms of this clause 21, it shall be obliged to treat it as such until written clearance is
obtained from the Disclosing Party.
	 
	21.3	 	Each Party undertakes, subject to clause 21.4, not to disclose any information which is to be
kept confidential in terms of this clause 21, nor to use such information for its own or
anyone else’s benefit.
	 
	21.4	 	Notwithstanding the provisions of clause 21.3, a Recipient shall be entitled to disclose any
information to be kept confidential if and to the extent only that the disclosure is bona fide
and necessary for the purposes of carrying out its duties in terms of this Agreement.
	 
	21.5	 	The obligation of confidentiality placed on the Parties in terms of this clause 21 shall
cease to apply to a Recipient in respect of any information which —

	21.5.1	 	is or becomes generally available to the public other than by the negligence or default of
the Recipient or by the breach of this Agreement by the Recipient;
	 
	21.5.2	 	the Disclosing Party confirms in writing is disclosed on a non-confidential basis;
	 
	21.5.3	 	has lawfully become known by or come into the possession of the Recipient on a
non-confidential basis from a source other than the Disclosing Party having the legal right to
disclose same, provided that such knowledge or possession is evidenced by the written records
of the Recipient existing at the Signature Date; or
	 
	21.5.4	 	is disclosed pursuant to a requirement or request by operation of law, regulation or court
order, to the extent of compliance with such requirement or request only and not for any other
purpose,

					
	 	 	 	 	 
	 
	 	
	 	

 

28

	 	 	provided that —

	21.5.5	 	the onus shall at all times rest on the Recipient to establish that information falls within
the exclusions set out in clauses 21.5.1 to 21.5.4;
	 
	21.5.6	 	information will not be deemed to be within the foregoing exclusions merely because such
information is embraced by more general information in the public domain or in the Recipient’s
possession; and
	 
	21.5.7	 	any combination of features will not be deemed to be within the foregoing exclusions merely
because individual features are in the public domain or in the Recipient’s possession, but
only if the combination itself and its principle of operation are in the public domain or in
the Recipient’s possession.

	21.6	 	In the event that the Recipient is required to disclose confidential information of the
Disclosing Party as contemplated in clause 21.5.4, the Recipient will —

	21.6.1	 	advise the Disclosing Party thereof in writing prior to disclosure, if possible;
	 
	21.6.2	 	take such steps to limit the disclosure to the minimum extent required to satisfy such
requirement and to the extent that it lawfully and reasonably can;
	 
	21.6.3	 	afford the Disclosing Party a reasonable opportunity, if possible, to intervene in the
proceedings;
	 
	21.6.4	 	comply with the Disclosing Party’s reasonable requests as to the manner and terms of any
such disclosure; and
	 
	21.6.5	 	notify the Disclosing Party of the recipient of, and the form and extent of, any such
disclosure or announcement immediately after it is made.

	22	 	PUBLICITY

	22.1	 	Subject to clause 22.3, each Party undertakes to keep confidential and not to disclose to any
third party, save as may be required in law (including, where applicable, by the rules of any
securities exchange on which the shares of either of the Parties, or the shares of a holding
company of either of the Parties, may be listed) or permitted in terms of this Agreement, the
nature, content or existence of this Agreement.
	 
	22.2	 	No announcements of any nature whatsoever will be made by or on behalf of a Party relating to
this Agreement without the prior written consent of the other Party, save for any announcement or
other statement required to be made in

					
	 	 	 	 	 
	 
	 	
	 	

 

 

29

	 	 	terms of the provisions of any law (or, where applicable, by the rules of any
securities exchange on which the shares of either of the Parties, or the shares of a
holding company of either of the Parties, may be listed), in which event the Party obliged
to make such statement will first consult with the other Party in order to enable them in
good faith to attempt to agree the content of such announcement, which (unless agreed)
must go no further than is required in terms of such law or rules. This will not apply to
a Party wishing to respond to the other Party which has made an announcement of some
nature in breach of this clause.
	 
	22.3	 	This clause 22 shall not apply to any disclosure made by a Party to its professional
advisors or consultants, provided that they have agreed to the same confidentiality
undertakings, or to any judicial or arbitral tribunal or officer, in connection with any
matter relating to this Agreement or arising out of it.

	23	 	SUPPORT
	 
	 	 	The Parties undertake at all times to do all such things, perform all such actions and take
all such steps and to procure the doing of all such things, the performance of all such
actions and the taking of all such steps as may be open to them and necessary for or
incidental to the putting into effect or maintenance of the terms, conditions and/or import
of this Agreement.
	 
	24	 	BREACH

	24.1	 	If a Party (“Defaulting Party”) commits any breach of this Agreement and fails to
remedy such breach within 5 (five) business days (“Notice Period”) of written
notice requiring the breach to be remedied, then the Party giving the notice
(“Aggrieved Party”) will be entitled, at its option to —

	24.1.1	 	claim immediate specific performance of all or any of the Defaulting Party’s
obligations under this Agreement, with or without claiming damages, whether
or not such obligation has fallen due for performance; or
	 
	24.1.2	 	cancel this Agreement, with or without claiming damages, in which case
written notice of the cancellation shall be given to the Defaulting Party, and the
cancellation shall take effect on the giving of the notice.

	24.2	 	It is agreed that a breach of any of the Related Agreements by any of the parties
to those agreements, and a failure to remedy any such breach in the time period
provided therefor, shall ipso facto constitute a breach of this Agreement entitling

					
	 	 	 	 	 
	 
	 	
	 	

 

30

	 	 	either Party to exercise the rights set out in this clause 24, provided that the Party
exercising such rights is not the party which is in breach of the relevant Related
Agreement.
	 
	24.3	 	In the event that the —

	24.3.1	 	Plant Sale Agreement is terminated as a result of the occurrence of a Trigger
Event (as defined in that agreement); and/or
	 
	24.3.2	 	North Sale Agreement is terminated as a result of the occurrence of a Trigger
Event (as defined in that agreement) or, at any time prior to the
implementation of all or any part of the North Sale Agreement, in accordance
with the provisions of clause 11.3.3 of that agreement,

	 	 	the Purchaser shall be entitled to forthwith terminate this Agreement on written notice
to the Seller.
	 
	24.4	 	The Aggrieved Party’s remedies in terms of this clause 24 are without prejudice
to any other remedies to which the Aggrieved Party may be entitled in law.

	25	 	DISPUTE RESOLUTION

	25.1	 	In the event of there being any dispute or difference between the Parties arising
out of this Agreement, the said dispute or difference shall on written demand by
either Party be submitted to arbitration in Johannesburg in accordance with the
AFSA rules, which arbitration shall be administered by AFSA.
	 
	25.2	 	Should AFSA, as an institution, not be operating at that time or not be accepting
requests for arbitration for any reason, then the arbitration shall be conducted in
accordance with the AFSA rules for commercial arbitration (as last applied by
AFSA) before an arbitrator appointed by agreement between the Parties or failing
agreement within 10 (ten) business days of the demand for arbitration, then either
Party shall be entitled to forthwith call upon the chairperson of the Johannesburg
Bar Council to nominate the arbitrator, provided that the person so nominated
shall be an advocate of not less than 10 (ten) years standing as such. The
person so nominated shall be the duly appointed arbitrator in respect of the
dispute. In the event of the attorneys of the Parties failing to agree on any matter
relating to the administration of the arbitration, such matter shall be referred to
and decided by the arbitrator whose decision shall be final and binding on the
Parties.

					
	 	 	 	 	 
	 
	 	
	 	

 

31

	25.3	 	Any Party may appeal the decision of the arbitrator or arbitrators in terms of the
AFSA rules for commercial arbitration.
	 
	25.4	 	Nothing herein contained shall be deemed to prevent or prohibit either Party from
applying to the appropriate court for urgent relief or for judgment in relation to a
liquidated claim.
	 
	25.5	 	Any arbitration in terms of this clause 25 (including any appeal proceedings) shall
be conducted in camera and the Parties shall treat as confidential details of the
dispute submitted to arbitration, the conduct of the arbitration proceedings and
the outcome of the arbitration,
	 
	25.6	 	This clause 25 will continue to be binding on the Parties notwithstanding any
termination or cancellation of the Agreement.
	 
	25.7	 	The Parties agree that the written demand by either Party to the dispute in terms
of clause 25.1 that the dispute or difference be submitted to arbitration, is to be
deemed to be a legal process for the purpose of interrupting extinctive
prescription in terms of the Prescription Act, 1969.

	26	 	NOTICES AND DOMICILIA

	26.1	 	The Parties select as their respective domicilia citandi et executandi the following
physical addresses, and for the purposes of giving or sending any notice provided for or
required under this Agreement, the said physical addresses as well as the following telefax
numbers —

	 	 	 	 	 
	Name	 	Physical Address	 	Telefax
	Seller

	 	c/o Knowles Husain Lindsay

Attorneys

4th Floor, The Forum

2 Maude Street

Sandown, Sandton
	 	+27 11 669 6299

	 	 	Marked for the attention of: Ian Lindsay

	 	 	 	 	 
	Name	 	Physical Address	 	Telefax
	Purchaser and
Harmony

	 	Block 27 

Randfontein Office Park

Corner Main Reef Road &

Ward Avenue

Randfontein
	 	+27 11 684 0188

	 	 	Marked for the attention of: The Company Secretary
	 
	 	 	provided that a Party may change its domicilium or its address for the purposes of notices
to any other physical address or telefax number in the Republic of

					
	 	 	 	 	 
	 
	 	
	 	

 

32

	 	 	South Africa by written notice to the other Party to that effect. Such change of address
will be effective 5 (five) business days after receipt of the notice of the change.
	 
	26.2	 	All notices to be given in terms of this Agreement will be given in writing, in
English, and will —

	26.2.1	 	be delivered by hand or sent by telefax;
	 
	26.2.2	 	if delivered by hand during business hours, be presumed to have been
received on the date of delivery. Any notice delivered after business hours or
on a day which is not a business day will be presumed to have been received
on the following business day; and
	 
	26.2.3	 	if sent by telefax during business hours, be presumed to have been received
on the date of successful transmission of the telefax. Any telefax sent after
business hours or on a day which is not a business day will be presumed to
have been received on the following business day.

	26.3	 	Notwithstanding the above, any notice given in writing in English, and actually
received by the Party to whom the notice is addressed, will be deemed to have
been properly given and received, notwithstanding that such notice has not been
given in accordance with this clause.
	 
	26.4	 	The Parties record that whilst they may correspond via email during the currency
of this Agreement for operational reasons, no formal notice required in terms of
this Agreement, nor any amendment of or variation to this Agreement may be
given or concluded via email.

	27	 	BENEFIT OF THE AGREEMENT
	 
	 	 	This Agreement will also be for the benefit of and be binding upon the successors in title
and permitted assigns of the Parties or either of them.
	 
	28	 	APPLICABLE LAW AND JURISDICTION

	28.1	 	This Agreement will in all respects be governed by and construed under the laws
of the Republic of South Africa.
	 
	28.2	 	For the purpose of clause 25.4 or for the purpose of making the arbitration award
an order of court, the Parties hereby consent and submit to the non-exclusive
jurisdiction of the North Gauteng High Court, Pretoria in any dispute arising from

					
	 	 	 	 	 
	 
	 	
	 	

 

33

	 	 	or in connection with this Agreement. The Parties agree that any costs awarded will be
recoverable on an attorney-and-own-client scale unless the Court specifically determines
that such scale shall not apply, in which event, subject to any specific determination by
the Court, the costs will be recoverable in accordance with the High Court tariff,
determined on an attorney-and-client scale.

	29	 	GENERAL

	29.1	 	This Agreement constitutes the whole of the agreement between the Parties
relating to the matters dealt with herein and, save to the extent otherwise
provided herein, no undertaking, representation, term or condition relating to the
subject matter of this Agreement not incorporated in this Agreement shall be
binding on either of the Parties.
	 
	29.2	 	No addition to or variation, deletion, or agreed cancellation of all or any clauses
or provisions of this Agreement will be of any force or effect unless in writing and
signed by the Parties.
	 
	29.3	 	No waiver of any of the terms and conditions of this Agreement will be binding or
effectual for any purpose unless in writing and signed by the Party giving the
same. Any such waiver will be effective only in the specific instance and for the
purpose given. Failure or delay on the part of either Party in exercising any right,
power or privilege hereunder will not constitute or be deemed to be a waiver
thereof, nor will any single or partial exercise of any right, power or privilege
preclude any other or further exercise thereof or the exercise of any other right,
power or privilege.
	 
	29.4	 	All provisions and the various clauses of this Agreement are, notwithstanding the
manner in which they have been grouped together or linked grammatically,
severable from each other. Any provision or clause of this Agreement which is or
becomes unenforceable in any jurisdiction, whether due to voidness, invalidity,
illegality, unlawfulness or for any other reason whatever, shall, in such jurisdiction
only and only to the extent that it is so unenforceable, be treated as pro non
scripto and the remaining provisions and clauses of this Agreement shall remain
of full force and effect. The Parties declare that it is their intention that this
Agreement would be executed without such unenforceable provision if they were
aware of such unenforceability at the time of execution hereof.
	 
	29.5	 	Neither this Agreement nor any part, share or interest herein nor any rights or
obligations hereunder may be ceded, delegated or assigned by either Party

					
	 	 	 	 	 
	 
	 	
	 	

 

34

	 	 	without the prior written consent of the other Party, save as otherwise provided
herein.
	 
	29.6	 	This Agreement may be executed in counterparts, each of which shall be deemed an original,
and all of which together shall constitute one and the same Agreement as at the date of
signature of the Party last signing one of the counterparts.

	30	 	COSTS
	 
	 	 	Each Party will bear and pay its own legal costs and expenses of and incidental to the
negotiation, drafting, preparation and implementation of this Agreement. For the purposes of
clarity and without limiting the generality of the aforegoing, it is agreed that the
Purchaser shall bear all costs of and incidental to the fulfilment of the Conditions
Precedent contained in clauses 4.1.3 and 4.1.12.
	 
	31	 	SIGNATURE
	 
	 	 	Signed on behalf of the Parties, each signatory hereto warranting that he/she has due
authority to do so.

SIGNED at SANDTON ON 8 SEPTEMBER 2009

	 	 	 	 	 
	 	For and on behalf of
 PAMODZI GOLD FREE STATE (PROPRIETARY) LIMITED (IN

PROVISIONAL LIQUIDATION)

 	 
	 	
 	 
	 	                                                     	 
	 	 

(UNDER POWER OF ATTORNEY)
Signature

 

Name of Signatory

JOINT PROVISIONAL LIQUIDATORS
 

Designation of Signatory 	 
	 

					
	 	 	 	 	 
	 
	 	
	 	

 

35

SIGNED at SANDTON on 8 SEPTEMBER 2009

	 	 	 	 	 
	 	For and on behalf of

HARMONY GOLD MINING COMPANY

LIMITED

 	 
	 	
 	 
	 	 
 Signature	 
	 	

R.A.L. Atkinson
 

Name of Signatory

EXECUTIVE
 

Designation of Signatory 	 
	 

					
	 	 	 	 	 
	 
	 	
	 	

 

			
	WESTRUST (PTY) LTD
	 	P O BOX 10527
	1st FLOOR
	 	JOHANNESBURG
	41 CENTRAL STREET
	 	2000
	HOUGHTON
	 	TEL: (011) 728 3222
	2198	 	 

POWER OF ATTORNEY TO ADMINISTER ESTATES

I, the undersigned,

ALLAN DAVID PELLOW

do hereby nominate constitute and appoint

GAVIN CECIL GAINSFORD

In the following Estates :

Pamodzi Gold Free State (Pty) Limited (In Liquidation)

Master’s Reference No. T2258/09

Pamodzi Gold East Rand (Pty) Limited (In Liquidation)

Master’s Reference No. T2257/09

Irrevocably and in rem suam, jointly and severally with Power of Substitution, to be my lawful
Attorney and Agent in my name, place and stead to appear before the Master of the High Court, or
before any Magistrate, at his or their offices, likewise before any Commissioner, and to appear at
all Meetings of Creditors to be held in Insolvent Estates and Companies in Liquidation and then and
there, on my behalf to file and prove claims against the said Estate, to vote for me in the
election of a Trustee or Liquidator, to accept appointments on my behalf, to administer the Estates
and prepare and sign liquidation accounts, reports and any other documents and further to represent
me in all matters or things relating to the administration of said Estates, including the right to
vote on an Offer of Compromise and generally for effecting the purpose aforementioned to do or
cause to be done whatsoever will be requisite, as fully and effectually, to all intents and
purposes as I might or could do if personally present and acting herein; hereby ratifying, allowing
and confirming and promising and agreeing to ratify, allow and confirm all and whatsoever my said
Attorney or Agent shall lawfully do or cause to be done in the premises by virtue of these
premises.

GIVEN UNDER MY HAND AT JOHANNESBURG THIS 19 DAY OF AUGUST 2009 in the presence of the undersigned
witnesses.

WITNESSES:

	 	 	 	 	 	 	 

	1.

	 	
	 	 
	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	2.

	 	
	 	 	 	
	 

	 	 
	 	 	 	 

 

 

ANNEXURE “1”

PLAN AND COORDINATES

 

 

 

 

MINING LEASE BOUNDARY COORDINATES PRESIDENT STEYN SOUTH

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	LO 27	 	 	WGS 84 Lo 27	 	 	Latitude WGS 84	 	 	Longitude WGS 84	 
	BEACON	 	Y	 	 	X	 	 	Y	 	 	X	 	 	dd	 	 	mm	 	 	ss.ssss	 	 	dd	 	 	mm	 	 	ss.ssss	 
	11
	 	 	21691.103	 	 	 	3100434.624	 	 	 	21726.821	 	 	 	3100727.568	 	 	 	28	 	 	 	1	 	 	 	13.6161	 	 	 	26	 	 	 	46	 	 	 	44.6591	 
	71
	 	 	22014.056	 	 	 	3100604.558	 	 	 	22049.774	 	 	 	3100897.502	 	 	 	28	 	 	 	1	 	 	 	19.1173	 	 	 	26	 	 	 	46	 	 	 	32.8256	 
	72
	 	 	22186.990	 	 	 	3099873.517	 	 	 	22222.708	 	 	 	3100166.461	 	 	 	28	 	 	 	0	 	 	 	55.3591	 	 	 	26	 	 	 	46	 	 	 	26.5446	 
	73
	 	 	22425.252	 	 	 	3099120.307	 	 	 	22460.970	 	 	 	3099413.251	 	 	 	28	 	 	 	0	 	 	 	30.8767	 	 	 	26	 	 	 	46	 	 	 	17.8748	 
	74
	 	 	23091.230	 	 	 	3097810.541	 	 	 	23126.948	 	 	 	3098103.485	 	 	 	27	 	 	 	59	 	 	 	48.2879	 	 	 	26	 	 	 	45	 	 	 	53.5909	 
	75
	 	 	23020.883	 	 	 	3096753.454	 	 	 	23056.601	 	 	 	3097046.398	 	 	 	27	 	 	 	59	 	 	 	13.9527	 	 	 	26	 	 	 	45	 	 	 	56.2397	 
	76
	 	 	22922.801	 	 	 	3096053.263	 	 	 	22958.519	 	 	 	3096346.207	 	 	 	27	 	 	 	58	 	 	 	51.2131	 	 	 	26	 	 	 	45	 	 	 	59.8780	 
	77
	 	 	22992.222	 	 	 	3095590.628	 	 	 	23027.940	 	 	 	3095883.572	 	 	 	27	 	 	 	58	 	 	 	36.1800	 	 	 	26	 	 	 	45	 	 	 	57.3702	 
	C21
	 	 	23075.772	 	 	 	3095592.320	 	 	 	23111.490	 	 	 	3095885.264	 	 	 	27	 	 	 	58	 	 	 	36.2298	 	 	 	26	 	 	 	45	 	 	 	54.3128	 
	C20
	 	 	23131.241	 	 	 	3095629.292	 	 	 	23166.959	 	 	 	3095922.236	 	 	 	27	 	 	 	58	 	 	 	37.4274	 	 	 	26	 	 	 	45	 	 	 	52.2805	 
	C7
	 	 	23161.222	 	 	 	3095630.363	 	 	 	23196.940	 	 	 	3095923.307	 	 	 	27	 	 	 	58	 	 	 	37.4603	 	 	 	26	 	 	 	45	 	 	 	51.1834	 
	C6
	 	 	23191.203	 	 	 	3095631.434	 	 	 	23226.921	 	 	 	3095924.378	 	 	 	27	 	 	 	58	 	 	 	37.4932	 	 	 	26	 	 	 	45	 	 	 	50.0863	 
	C5
	 	 	23232.241	 	 	 	3095662.292	 	 	 	23267.959	 	 	 	3095955.236	 	 	 	27	 	 	 	58	 	 	 	38.4930	 	 	 	26	 	 	 	45	 	 	 	48.5824	 
	C4
	 	 	23254.518	 	 	 	3095642.199	 	 	 	23290.236	 	 	 	3095935.143	 	 	 	27	 	 	 	58	 	 	 	37.8389	 	 	 	26	 	 	 	45	 	 	 	47.7687	 
	C3
	 	 	23283.241	 	 	 	3095616.292	 	 	 	23318.959	 	 	 	3095909.236	 	 	 	27	 	 	 	58	 	 	 	36.9955	 	 	 	26	 	 	 	45	 	 	 	46.7195	 
	hn
	 	 	23295.581	 	 	 	3095598.996	 	 	 	23331.299	 	 	 	3095891.940	 	 	 	27	 	 	 	58	 	 	 	36.4329	 	 	 	26	 	 	 	45	 	 	 	46.2692	 
	C1
	 	 	23907.528	 	 	 	3095620.116	 	 	 	23943.246	 	 	 	3095913.060	 	 	 	27	 	 	 	58	 	 	 	37.0798	 	 	 	26	 	 	 	45	 	 	 	23.8757	 
	C19
	 	 	23726.239	 	 	 	3096326.347	 	 	 	23761.957	 	 	 	3096619.291	 	 	 	27	 	 	 	59	 	 	 	0.0335	 	 	 	26	 	 	 	45	 	 	 	30.4582	 
	C18
	 	 	23574.074	 	 	 	3096284.644	 	 	 	23609.792	 	 	 	3096577.588	 	 	 	27	 	 	 	58	 	 	 	58.6885	 	 	 	26	 	 	 	45	 	 	 	36.0295	 
	C17
	 	 	23519.084	 	 	 	3096392.022	 	 	 	23554.802	 	 	 	3096684.966	 	 	 	27	 	 	 	59	 	 	 	2.1802	 	 	 	26	 	 	 	45	 	 	 	38.0341	 
	C16
	 	 	23394.907	 	 	 	3096325.675	 	 	 	23430.625	 	 	 	3096618.619	 	 	 	27	 	 	 	59	 	 	 	0.0328	 	 	 	26	 	 	 	45	 	 	 	42.5829	 
	C15
	 	 	23354.960	 	 	 	3096271.862	 	 	 	23390.678	 	 	 	3096564.806	 	 	 	27	 	 	 	58	 	 	 	58.2872	 	 	 	26	 	 	 	45	 	 	 	44.0485	 
	C14
	 	 	23318.689	 	 	 	3096271.394	 	 	 	23354.407	 	 	 	3096564.338	 	 	 	27	 	 	 	58	 	 	 	58.2743	 	 	 	26	 	 	 	45	 	 	 	45.3759	 
	C13
	 	 	23280.547	 	 	 	3096239.569	 	 	 	23316.265	 	 	 	3096532.513	 	 	 	27	 	 	 	58	 	 	 	57.2429	 	 	 	26	 	 	 	45	 	 	 	46.7739	 
	C12
	 	 	23260.423	 	 	 	3096181.303	 	 	 	23296.141	 	 	 	3096474.247	 	 	 	27	 	 	 	58	 	 	 	55.3514	 	 	 	26	 	 	 	45	 	 	 	47.5144	 
	C11
	 	 	23253.988	 	 	 	3096193.354	 	 	 	23289.706	 	 	 	3096486.298	 	 	 	27	 	 	 	58	 	 	 	55.7432	 	 	 	26	 	 	 	45	 	 	 	47.7490	 
	C10
	 	 	23208.805	 	 	 	3096101.899	 	 	 	23244.523	 	 	 	3096394.843	 	 	 	27	 	 	 	58	 	 	 	52.7752	 	 	 	26	 	 	 	45	 	 	 	49.4089	 
	C9
	 	 	23186.043	 	 	 	3095889.714	 	 	 	23221.761	 	 	 	3096182.658	 	 	 	27	 	 	 	58	 	 	 	45.8837	 	 	 	26	 	 	 	45	 	 	 	50.2568	 
	C8
	 	 	23125.342	 	 	 	3095918.506	 	 	 	23161.060	 	 	 	3096211.450	 	 	 	27	 	 	 	58	 	 	 	46.8229	 	 	 	26	 	 	 	45	 	 	 	52.4760	 
	C25
	 	 	23133.793	 	 	 	3095843.238	 	 	 	23169.511	 	 	 	3096136.182	 	 	 	27	 	 	 	58	 	 	 	44.3772	 	 	 	26	 	 	 	45	 	 	 	52.1720	 
	C24
	 	 	23135.272	 	 	 	3095800.946	 	 	 	23170.990	 	 	 	3096093.890	 	 	 	27	 	 	 	58	 	 	 	43.0033	 	 	 	26	 	 	 	45	 	 	 	52.1209	 
	C23
	 	 	23120.925	 	 	 	3095719.537	 	 	 	23156.643	 	 	 	3096012.481	 	 	 	27	 	 	 	58	 	 	 	40.3596	 	 	 	26	 	 	 	45	 	 	 	52.6516	 
	C22
	 	 	23111.275	 	 	 	3095677.426	 	 	 	23146.993	 	 	 	3095970.370	 	 	 	27	 	 	 	58	 	 	 	38.9922	 	 	 	26	 	 	 	45	 	 	 	53.0077	 
	C21
	 	 	23075.772	 	 	 	3095592.320	 	 	 	23111.490	 	 	 	3095885.264	 	 	 	27	 	 	 	58	 	 	 	36.2298	 	 	 	26	 	 	 	45	 	 	 	54.3128	 
	77
	 	 	22992.222	 	 	 	3095590.628	 	 	 	23027.940	 	 	 	3095883.572	 	 	 	27	 	 	 	58	 	 	 	36.1800	 	 	 	26	 	 	 	45	 	 	 	57.3702	 
	Al
	 	 	22925.562	 	 	 	3095587.542	 	 	 	22961.280	 	 	 	3095880.486	 	 	 	27	 	 	 	58	 	 	 	36.0839	 	 	 	26	 	 	 	45	 	 	 	59.8095	 
	Bl
	 	 	22924.404	 	 	 	3095626.136	 	 	 	22960.122	 	 	 	3095919.080	 	 	 	27	 	 	 	58	 	 	 	37.3377	 	 	 	26	 	 	 	45	 	 	 	59.8492	 
	C
	 	 	22871.203	 	 	 	3095636.264	 	 	 	22906.921	 	 	 	3095929.208	 	 	 	27	 	 	 	58	 	 	 	37.6700	 	 	 	26	 	 	 	46	 	 	 	1.7952	 
	D
	 	 	22772.880	 	 	 	3095592.960	 	 	 	22808.598	 	 	 	3095885.904	 	 	 	27	 	 	 	58	 	 	 	36.2694	 	 	 	26	 	 	 	46	 	 	 	5.3960	 
	E
	 	 	22765.565	 	 	 	3095566.124	 	 	 	22801.283	 	 	 	3095859.068	 	 	 	27	 	 	 	58	 	 	 	35.3981	 	 	 	26	 	 	 	46	 	 	 	5.6655	 
	F
	 	 	22743.569	 	 	 	3095565.061	 	 	 	22779.287	 	 	 	3095858.005	 	 	 	27	 	 	 	58	 	 	 	35.3649	 	 	 	26	 	 	 	46	 	 	 	6.4705	 
	G
	 	 	22724.384	 	 	 	3095613.337	 	 	 	22760.102	 	 	 	3095906.281	 	 	 	27	 	 	 	58	 	 	 	36.9343	 	 	 	26	 	 	 	46	 	 	 	7.1691	 
	H
	 	 	22666.240	 	 	 	3095601.792	 	 	 	22701.958	 	 	 	3095894.736	 	 	 	27	 	 	 	58	 	 	 	36.5628	 	 	 	26	 	 	 	46	 	 	 	9.2975	 
	J
	 	 	22603.240	 	 	 	3095598.792	 	 	 	22638.958	 	 	 	3095891.736	 	 	 	27	 	 	 	58	 	 	 	36.4692	 	 	 	26	 	 	 	46	 	 	 	11.6030	 
	K
	 	 	22518.241	 	 	 	3095575.792	 	 	 	22553.959	 	 	 	3095868.736	 	 	 	27	 	 	 	58	 	 	 	35.7273	 	 	 	26	 	 	 	46	 	 	 	14.7148	 
	L
	 	 	22344.240	 	 	 	3095569.792	 	 	 	22379.958	 	 	 	3095862.736	 	 	 	27	 	 	 	58	 	 	 	35.5429	 	 	 	26	 	 	 	46	 	 	 	21.0821	 

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	LO 27	 	 	WGS 84 Lo 27	 	 	Latitude WGS 84	 	 	Longitude WGS 84	 
	BEACON	 	Y	 	 	X	 	 	Y	 	 	X	 	 	dd	 	 	mm	 	 	ss.ssss	 	 	dd	 	 	mm	 	 	ss.ssss	 
	M
	 	 	22332.240	 	 	 	3095548.792	 	 	 	22367.958	 	 	 	3095841.736	 	 	 	27	 	 	 	58	 	 	 	34.8615	 	 	 	26	 	 	 	46	 	 	 	21.5227	 
	N
	 	 	22159.240	 	 	 	3095512.792	 	 	 	22194.958	 	 	 	3095805.736	 	 	 	27	 	 	 	58	 	 	 	33.7024	 	 	 	26	 	 	 	46	 	 	 	27.8554	 
	O
	 	 	22117.240	 	 	 	3095484.792	 	 	 	22152.958	 	 	 	3095777.736	 	 	 	27	 	 	 	58	 	 	 	32.7954	 	 	 	26	 	 	 	46	 	 	 	29.3941	 
	P
	 	 	22102.240	 	 	 	3095552.792	 	 	 	22137.958	 	 	 	3095845.736	 	 	 	27	 	 	 	58	 	 	 	35.0053	 	 	 	26	 	 	 	46	 	 	 	29.9384	 
	Q
	 	 	22080.240	 	 	 	3095551.792	 	 	 	22115.958	 	 	 	3095844.736	 	 	 	27	 	 	 	58	 	 	 	34.9741	 	 	 	26	 	 	 	46	 	 	 	30.7435	 
	R
	 	 	22079.299	 	 	 	3095560.613	 	 	 	22115.017	 	 	 	3095853.557	 	 	 	27	 	 	 	58	 	 	 	35.2607	 	 	 	26	 	 	 	46	 	 	 	30.7773	 
	S
	 	 	21920.264	 	 	 	3095555.552	 	 	 	21955.982	 	 	 	3095848.496	 	 	 	27	 	 	 	58	 	 	 	35.1058	 	 	 	26	 	 	 	46	 	 	 	36.5969	 
	T
	 	 	21919.240	 	 	 	3095607.792	 	 	 	21954.958	 	 	 	3095900.736	 	 	 	27	 	 	 	58	 	 	 	36.8028	 	 	 	26	 	 	 	46	 	 	 	36.6309	 
	U
	 	 	21906.240	 	 	 	3095656.792	 	 	 	21941.958	 	 	 	3095949.736	 	 	 	27	 	 	 	58	 	 	 	38.3954	 	 	 	26	 	 	 	46	 	 	 	37.1033	 
	V
	 	 	21895.240	 	 	 	3095670.792	 	 	 	21930.958	 	 	 	3095963.736	 	 	 	27	 	 	 	58	 	 	 	38.8508	 	 	 	26	 	 	 	46	 	 	 	37.5049	 
	W
	 	 	21760.653	 	 	 	3095550.473	 	 	 	21796.371	 	 	 	3095843.417	 	 	 	27	 	 	 	58	 	 	 	34.9502	 	 	 	26	 	 	 	46	 	 	 	42.4377	 
	X
	 	 	21704.240	 	 	 	3095515.792	 	 	 	21739.958	 	 	 	3095808.736	 	 	 	27	 	 	 	58	 	 	 	33.8269	 	 	 	26	 	 	 	46	 	 	 	44.5042	 
	Y
	 	 	21666.240	 	 	 	3095506.792	 	 	 	21701.958	 	 	 	3095799.736	 	 	 	27	 	 	 	58	 	 	 	33.5368	 	 	 	26	 	 	 	46	 	 	 	45.8952	 
	Z
	 	 	21674.494	 	 	 	3095547.791	 	 	 	21710.212	 	 	 	3095840.735	 	 	 	27	 	 	 	58	 	 	 	34.8682	 	 	 	26	 	 	 	46	 	 	 	45.5905	 
	AA
	 	 	21670.240	 	 	 	3095571.792	 	 	 	21705.958	 	 	 	3095864.736	 	 	 	27	 	 	 	58	 	 	 	35.6481	 	 	 	26	 	 	 	46	 	 	 	45.7446	 
	BB
	 	 	21628.240	 	 	 	3095581.792	 	 	 	21663.958	 	 	 	3095874.736	 	 	 	27	 	 	 	58	 	 	 	35.9754	 	 	 	26	 	 	 	46	 	 	 	47.2807	 
	CC
	 	 	21598.240	 	 	 	3095575.792	 	 	 	21633.958	 	 	 	3095868.736	 	 	 	27	 	 	 	58	 	 	 	35.7822	 	 	 	26	 	 	 	46	 	 	 	48.3789	 
	DD
	 	 	21590.240	 	 	 	3095562.792	 	 	 	21625.958	 	 	 	3095855.736	 	 	 	27	 	 	 	58	 	 	 	35.3604	 	 	 	26	 	 	 	46	 	 	 	48.6725	 
	EE
	 	 	21591.240	 	 	 	3095542.792	 	 	 	21626.958	 	 	 	3095835.736	 	 	 	27	 	 	 	58	 	 	 	34.7106	 	 	 	26	 	 	 	46	 	 	 	48.6372	 
	FF
	 	 	21568.240	 	 	 	3095542.792	 	 	 	21603.958	 	 	 	3095835.736	 	 	 	27	 	 	 	58	 	 	 	34.7120	 	 	 	26	 	 	 	46	 	 	 	49.4788	 
	GG
	 	 	21557.240	 	 	 	3095524.792	 	 	 	21592.958	 	 	 	3095817.736	 	 	 	27	 	 	 	58	 	 	 	34.1279	 	 	 	26	 	 	 	46	 	 	 	49.8825	 
	HH
	 	 	21517.240	 	 	 	3095525.792	 	 	 	21552.958	 	 	 	3095818.736	 	 	 	27	 	 	 	58	 	 	 	34.1627	 	 	 	26	 	 	 	46	 	 	 	51.3461	 
	JJ
	 	 	21498.240	 	 	 	3095531.792	 	 	 	21533.958	 	 	 	3095824.736	 	 	 	27	 	 	 	58	 	 	 	34.3587	 	 	 	26	 	 	 	46	 	 	 	52.0409	 
	KK
	 	 	21473.240	 	 	 	3095547.792	 	 	 	21508.958	 	 	 	3095840.736	 	 	 	27	 	 	 	58	 	 	 	34.8799	 	 	 	26	 	 	 	46	 	 	 	52.9546	 
	LL
	 	 	21372.240	 	 	 	3095547.792	 	 	 	21407.958	 	 	 	3095840.736	 	 	 	27	 	 	 	58	 	 	 	34.8858	 	 	 	26	 	 	 	46	 	 	 	56.6504	 
	MM
	 	 	21371.240	 	 	 	3095561.792	 	 	 	21406.958	 	 	 	3095854.736	 	 	 	27	 	 	 	58	 	 	 	35.3406	 	 	 	26	 	 	 	46	 	 	 	56.6860	 
	NN
	 	 	21361.240	 	 	 	3095558.792	 	 	 	21396.958	 	 	 	3095851.736	 	 	 	27	 	 	 	58	 	 	 	35.2438	 	 	 	26	 	 	 	46	 	 	 	57.0522	 
	OO
	 	 	21349.240	 	 	 	3095540.792	 	 	 	21384.958	 	 	 	3095833.736	 	 	 	27	 	 	 	58	 	 	 	34.6597	 	 	 	26	 	 	 	46	 	 	 	57.4924	 
	PP
	 	 	21333.240	 	 	 	3095486.792	 	 	 	21368.958	 	 	 	3095779.736	 	 	 	27	 	 	 	58	 	 	 	32.9065	 	 	 	26	 	 	 	46	 	 	 	58.0814	 
	QQ
	 	 	21305.240	 	 	 	3095489.792	 	 	 	21340.958	 	 	 	3095782.736	 	 	 	27	 	 	 	58	 	 	 	33.0055	 	 	 	26	 	 	 	46	 	 	 	59.1057	 
	RR
	 	 	21272.240	 	 	 	3095505.792	 	 	 	21307.958	 	 	 	3095798.736	 	 	 	27	 	 	 	58	 	 	 	33.5272	 	 	 	26	 	 	 	47	 	 	 	0.3122	 
	SS
	 	 	21220.240	 	 	 	3095512.792	 	 	 	21255.958	 	 	 	3095805.736	 	 	 	27	 	 	 	58	 	 	 	33.7576	 	 	 	26	 	 	 	47	 	 	 	2.2145	 
	TT
	 	 	21216.892	 	 	 	3095533.169	 	 	 	21252.610	 	 	 	3095826.113	 	 	 	27	 	 	 	58	 	 	 	34.4197	 	 	 	26	 	 	 	47	 	 	 	2.3357	 
	UU
	 	 	21141.914	 	 	 	3095530.784	 	 	 	21177.632	 	 	 	3095823.728	 	 	 	27	 	 	 	58	 	 	 	34.3466	 	 	 	26	 	 	 	47	 	 	 	5.0794	 
	VV
	 	 	21086.240	 	 	 	3095502.792	 	 	 	21121.958	 	 	 	3095795.736	 	 	 	27	 	 	 	58	 	 	 	33.4404	 	 	 	26	 	 	 	47	 	 	 	7.1184	 
	WW
	 	 	21050.240	 	 	 	3095511.792	 	 	 	21085.958	 	 	 	3095804.736	 	 	 	27	 	 	 	58	 	 	 	33.7348	 	 	 	26	 	 	 	47	 	 	 	8.4351	 
	XX
	 	 	20895.240	 	 	 	3095518.792	 	 	 	20930.958	 	 	 	3095811.736	 	 	 	27	 	 	 	58	 	 	 	33.9710	 	 	 	26	 	 	 	47	 	 	 	14.1063	 
	YY
	 	 	20717.240	 	 	 	3095514.792	 	 	 	20752.958	 	 	 	3095807.736	 	 	 	27	 	 	 	58	 	 	 	33.8511	 	 	 	26	 	 	 	47	 	 	 	20.6198	 
	W1
	 	 	20687.240	 	 	 	3095462.792	 	 	 	20722.958	 	 	 	3095755.736	 	 	 	27	 	 	 	58	 	 	 	32.1636	 	 	 	26	 	 	 	47	 	 	 	21.7208	 
	W2
	 	 	20673.240	 	 	 	3095457.792	 	 	 	20708.958	 	 	 	3095750.736	 	 	 	27	 	 	 	58	 	 	 	32.0019	 	 	 	26	 	 	 	47	 	 	 	22.2334	 
	W3
	 	 	20674.240	 	 	 	3095402.792	 	 	 	20709.958	 	 	 	3095695.736	 	 	 	27	 	 	 	58	 	 	 	30.2152	 	 	 	26	 	 	 	47	 	 	 	22.2002	 
	W4
	 	 	20670.240	 	 	 	3095323.792	 	 	 	20705.958	 	 	 	3095616.736	 	 	 	27	 	 	 	58	 	 	 	27.6491	 	 	 	26	 	 	 	47	 	 	 	22.3516	 
	W5
	 	 	20655.240	 	 	 	3095278.792	 	 	 	20690.958	 	 	 	3095571.736	 	 	 	27	 	 	 	58	 	 	 	26.1881	 	 	 	26	 	 	 	47	 	 	 	22.9033	 
	W6
	 	 	20696.240	 	 	 	3095070.792	 	 	 	20731.958	 	 	 	3095363.736	 	 	 	27	 	 	 	58	 	 	 	19.4289	 	 	 	26	 	 	 	47	 	 	 	21.4162	 
	W7
	 	 	20749.240	 	 	 	3095092.792	 	 	 	20784.958	 	 	 	3095385.736	 	 	 	27	 	 	 	58	 	 	 	20.1406	 	 	 	26	 	 	 	47	 	 	 	19.4755	 
	W8
	 	 	20762.240	 	 	 	3095058.792	 	 	 	20797.958	 	 	 	3095351.736	 	 	 	27	 	 	 	58	 	 	 	19.0354	 	 	 	26	 	 	 	47	 	 	 	19.0020	 
	W9
	 	 	20750.240	 	 	 	3095009.792	 	 	 	20785.958	 	 	 	3095302.736	 	 	 	27	 	 	 	58	 	 	 	17.4443	 	 	 	26	 	 	 	47	 	 	 	19.4442	 
	W10
	 	 	20751.240	 	 	 	3095000.792	 	 	 	20786.958	 	 	 	3095293.736	 	 	 	27	 	 	 	58	 	 	 	17.1518	 	 	 	26	 	 	 	47	 	 	 	19.4082	 
	W11
	 	 	20742.240	 	 	 	3094987.792	 	 	 	20777.958	 	 	 	3095280.736	 	 	 	27	 	 	 	58	 	 	 	16.7300	 	 	 	26	 	 	 	47	 	 	 	19.7383	 
	W12
	 	 	20777.240	 	 	 	3094869.792	 	 	 	20812.958	 	 	 	3095162.736	 	 	 	27	 	 	 	58	 	 	 	12.8948	 	 	 	26	 	 	 	47	 	 	 	18.4652	 

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	LO 27	 	 	WGS 84 Lo 27	 	 	Latitude WGS 84	 	 	Longitude WGS 84	 
	BEACON	 	Y	 	 	X	 	 	Y	 	 	X	 	 	dd	 	 	mm	 	 	ss.ssss	 	 	dd	 	 	mm	 	 	ss.ssss	 
	W13
	 	 	20799.240	 	 	 	3094877.792	 	 	 	20834.958	 	 	 	3095170.736	 	 	 	27	 	 	 	58	 	 	 	13.1535	 	 	 	26	 	 	 	47	 	 	 	17.6597	 
	W14
	 	 	20844.240	 	 	 	3094631.792	 	 	 	20879.958	 	 	 	3094924.736	 	 	 	27	 	 	 	58	 	 	 	5.1596	 	 	 	26	 	 	 	47	 	 	 	16.0288	 
	W15
	 	 	20893.240	 	 	 	3094643.792	 	 	 	20928.958	 	 	 	3094936.736	 	 	 	27	 	 	 	58	 	 	 	5.5466	 	 	 	26	 	 	 	47	 	 	 	14.2352	 
	W16
	 	 	20900.240	 	 	 	3094681.792	 	 	 	20935.958	 	 	 	3094974.736	 	 	 	27	 	 	 	58	 	 	 	6.7807	 	 	 	26	 	 	 	47	 	 	 	13.9767	 
	W17
	 	 	20912.240	 	 	 	3094684.792	 	 	 	20947.958	 	 	 	3094977.736	 	 	 	27	 	 	 	58	 	 	 	6.8774	 	 	 	26	 	 	 	47	 	 	 	13.5374	 
	W18
	 	 	20936.240	 	 	 	3094671.792	 	 	 	20971.958	 	 	 	3094964.736	 	 	 	27	 	 	 	58	 	 	 	6.4538	 	 	 	26	 	 	 	47	 	 	 	12.6601	 
	W19
	 	 	20957.240	 	 	 	3094586.792	 	 	 	20992.958	 	 	 	3094879.736	 	 	 	27	 	 	 	58	 	 	 	3.6913	 	 	 	26	 	 	 	47	 	 	 	11.8972	 
	W20
	 	 	20977.240	 	 	 	3094573.792	 	 	 	21012.958	 	 	 	3094866.736	 	 	 	27	 	 	 	58	 	 	 	3.2679	 	 	 	26	 	 	 	47	 	 	 	11.1662	 
	W21
	 	 	20985.240	 	 	 	3094532.792	 	 	 	21020.958	 	 	 	3094825.736	 	 	 	27	 	 	 	58	 	 	 	1.9355	 	 	 	26	 	 	 	47	 	 	 	10.8762	 
	W22
	 	 	21026.240	 	 	 	3094542.792	 	 	 	21061.958	 	 	 	3094835.736	 	 	 	27	 	 	 	58	 	 	 	2.2581	 	 	 	26	 	 	 	47	 	 	 	9.3754	 
	W23
	 	 	21022.240	 	 	 	3094559.792	 	 	 	21057.958	 	 	 	3094852.736	 	 	 	27	 	 	 	58	 	 	 	2.8105	 	 	 	26	 	 	 	47	 	 	 	9.5207	 
	W24
	 	 	21050.240	 	 	 	3094566.792	 	 	 	21085.958	 	 	 	3094859.736	 	 	 	27	 	 	 	58	 	 	 	3.0363	 	 	 	26	 	 	 	47	 	 	 	8.4957	 
	W25
	 	 	21067.240	 	 	 	3094611.792	 	 	 	21102.958	 	 	 	3094904.736	 	 	 	27	 	 	 	58	 	 	 	4.4972	 	 	 	26	 	 	 	47	 	 	 	7.8708	 
	W26
	 	 	21078.240	 	 	 	3094573.792	 	 	 	21113.958	 	 	 	3094866.736	 	 	 	27	 	 	 	58	 	 	 	3.2621	 	 	 	26	 	 	 	47	 	 	 	7.4708	 
	W27
	 	 	21047.240	 	 	 	3094514.792	 	 	 	21082.958	 	 	 	3094807.736	 	 	 	27	 	 	 	58	 	 	 	1.3473	 	 	 	26	 	 	 	47	 	 	 	8.6088	 
	W28
	 	 	21061.240	 	 	 	3094447.792	 	 	 	21096.958	 	 	 	3094740.736	 	 	 	27	 	 	 	57	 	 	 	59.1700	 	 	 	26	 	 	 	47	 	 	 	8.1009	 
	W29
	 	 	21027.240	 	 	 	3094439.792	 	 	 	21062.958	 	 	 	3094732.736	 	 	 	27	 	 	 	57	 	 	 	58.9120	 	 	 	26	 	 	 	47	 	 	 	9.3454	 
	W30
	 	 	21033.240	 	 	 	3094412.792	 	 	 	21068.958	 	 	 	3094705.736	 	 	 	27	 	 	 	57	 	 	 	58.0346	 	 	 	26	 	 	 	47	 	 	 	9.1276	 
	W31
	 	 	21105.240	 	 	 	3094264.792	 	 	 	21140.958	 	 	 	3094557.736	 	 	 	27	 	 	 	57	 	 	 	53.2227	 	 	 	26	 	 	 	47	 	 	 	6.5028	 
	W32
	 	 	21094.240	 	 	 	3094200.792	 	 	 	21129.958	 	 	 	3094493.736	 	 	 	27	 	 	 	57	 	 	 	51.1442	 	 	 	26	 	 	 	47	 	 	 	6.9094	 
	W33
	 	 	21125.240	 	 	 	3094102.792	 	 	 	21160.958	 	 	 	3094395.736	 	 	 	27	 	 	 	57	 	 	 	47.9589	 	 	 	26	 	 	 	47	 	 	 	5.7815	 
	W34
	 	 	20458.944	 	 	 	3094102.792	 	 	 	20494.662	 	 	 	3094395.736	 	 	 	27	 	 	 	57	 	 	 	47.9964	 	 	 	26	 	 	 	47	 	 	 	30.1592	 
	1:43
	 	 	19423.053	 	 	 	3097442.852	 	 	 	19458.771	 	 	 	3097735.796	 	 	 	27	 	 	 	59	 	 	 	36.5548	 	 	 	26	 	 	 	48	 	 	 	7.8614	 
	A2
	 	 	18984.064	 	 	 	3098857.211	 	 	 	19019.782	 	 	 	3099150.155	 	 	 	28	 	 	 	0	 	 	 	22.5232	 	 	 	26	 	 	 	48	 	 	 	23.8451	 
	B2
	 	 	18256.508	 	 	 	3099868.486	 	 	 	18292.226	 	 	 	3100161.430	 	 	 	28	 	 	 	0	 	 	 	55.4113	 	 	 	26	 	 	 	48	 	 	 	50.4183	 
	2:28
	 	 	18184.690	 	 	 	3100183.753	 	 	 	18220.408	 	 	 	3100476.697	 	 	 	28	 	 	 	1	 	 	 	5.6563	 	 	 	26	 	 	 	48	 	 	 	53.0296	 
	2:27
	 	 	18544.088	 	 	 	3100182.094	 	 	 	18579.806	 	 	 	3100475.038	 	 	 	28	 	 	 	1	 	 	 	5.5845	 	 	 	26	 	 	 	48	 	 	 	39.8738	 
	2:26
	 	 	18593.808	 	 	 	3100297.821	 	 	 	18629.526	 	 	 	3100590.765	 	 	 	28	 	 	 	1	 	 	 	9.3414	 	 	 	26	 	 	 	48	 	 	 	38.0472	 
	2:25
	 	 	18587.680	 	 	 	3100460.728	 	 	 	18623.398	 	 	 	3100753.672	 	 	 	28	 	 	 	1	 	 	 	14.6337	 	 	 	26	 	 	 	48	 	 	 	38.2622	 
	2:24
	 	 	18572.010	 	 	 	3100617.728	 	 	 	18607.728	 	 	 	3100910.672	 	 	 	28	 	 	 	1	 	 	 	19.7346	 	 	 	26	 	 	 	48	 	 	 	38.8269	 
	2:23
	 	 	18549.328	 	 	 	3100753.891	 	 	 	18585.046	 	 	 	3101046.835	 	 	 	28	 	 	 	1	 	 	 	24.1590	 	 	 	26	 	 	 	48	 	 	 	39.6495	 
	2:22
	 	 	18815.533	 	 	 	3100736.076	 	 	 	18851.251	 	 	 	3101029.020	 	 	 	28	 	 	 	1	 	 	 	23.5668	 	 	 	26	 	 	 	48	 	 	 	29.9055	 
	2:21
	 	 	18926.521	 	 	 	3100716.156	 	 	 	18962.239	 	 	 	3101009.100	 	 	 	28	 	 	 	1	 	 	 	22.9140	 	 	 	26	 	 	 	48	 	 	 	25.8437	 
	2:20
	 	 	18958.682	 	 	 	3100722.733	 	 	 	18994.400	 	 	 	3101015.677	 	 	 	28	 	 	 	1	 	 	 	23.1260	 	 	 	26	 	 	 	48	 	 	 	24.6660	 
	2:19
	 	 	19105.264	 	 	 	3100721.528	 	 	 	19140.982	 	 	 	3101014.472	 	 	 	28	 	 	 	1	 	 	 	23.0793	 	 	 	26	 	 	 	48	 	 	 	19.3001	 
	2:18
	 	 	19162.195	 	 	 	3100703.215	 	 	 	19197.913	 	 	 	3100996.159	 	 	 	28	 	 	 	1	 	 	 	22.4815	 	 	 	26	 	 	 	48	 	 	 	17.2171	 
	2:17
	 	 	19306.312	 	 	 	3100698.039	 	 	 	19342.030	 	 	 	3100990.983	 	 	 	28	 	 	 	1	 	 	 	22.3058	 	 	 	26	 	 	 	48	 	 	 	11.9417	 
	2:16
	 	 	19377.077	 	 	 	3100696.148	 	 	 	19412.795	 	 	 	3100989.092	 	 	 	28	 	 	 	1	 	 	 	22.2406	 	 	 	26	 	 	 	48	 	 	 	9.3513	 
	2:15
	 	 	19478.198	 	 	 	3100686.195	 	 	 	19513.916	 	 	 	3100979.139	 	 	 	28	 	 	 	1	 	 	 	21.9120	 	 	 	26	 	 	 	48	 	 	 	5.6502	 
	2:14
	 	 	19611.049	 	 	 	3100666.089	 	 	 	19646.767	 	 	 	3100959.033	 	 	 	28	 	 	 	1	 	 	 	21.2518	 	 	 	26	 	 	 	48	 	 	 	0.7881	 
	2:13
	 	 	19802.575	 	 	 	3100640.975	 	 	 	19838.293	 	 	 	3100933.919	 	 	 	28	 	 	 	1	 	 	 	20.4257	 	 	 	26	 	 	 	47	 	 	 	53.7784	 
	2:12
	 	 	20129.592	 	 	 	3100581.367	 	 	 	20165.310	 	 	 	3100874.311	 	 	 	28	 	 	 	1	 	 	 	18.4717	 	 	 	26	 	 	 	47	 	 	 	41.8110	 
	2:11
	 	 	20793.622	 	 	 	3100199.786	 	 	 	20829.340	 	 	 	3100492.730	 	 	 	28	 	 	 	1	 	 	 	6.0391	 	 	 	26	 	 	 	47	 	 	 	17.5274	 
	2:10
	 	 	20838.437	 	 	 	3100166.813	 	 	 	20874.155	 	 	 	3100459.757	 	 	 	28	 	 	 	1	 	 	 	4.9655	 	 	 	26	 	 	 	47	 	 	 	15.8890	 
	2:9
	 	 	20914.189	 	 	 	3100184.742	 	 	 	20949.907	 	 	 	3100477.686	 	 	 	28	 	 	 	1	 	 	 	5.5436	 	 	 	26	 	 	 	47	 	 	 	13.1149	 
	2:8
	 	 	20909.563	 	 	 	3100145.382	 	 	 	20945.281	 	 	 	3100438.326	 	 	 	28	 	 	 	1	 	 	 	4.2653	 	 	 	26	 	 	 	47	 	 	 	13.2868	 
	2:2
	 	 	21374.393	 	 	 	3100275.072	 	 	 	21410.111	 	 	 	3100568.016	 	 	 	28	 	 	 	1	 	 	 	8.4516	 	 	 	26	 	 	 	46	 	 	 	56.2630	 
	2:3
	 	 	21430.214	 	 	 	3100293.262	 	 	 	21465.932	 	 	 	3100586.206	 	 	 	28	 	 	 	1	 	 	 	9.0393	 	 	 	26	 	 	 	46	 	 	 	54.2185	 
	2:4
	 	 	21493.047	 	 	 	3100324.219	 	 	 	21528.765	 	 	 	3100617.163	 	 	 	28	 	 	 	1	 	 	 	10.0412	 	 	 	26	 	 	 	46	 	 	 	51.9164	 
	2:5
	 	 	21550.450	 	 	 	3100354.350	 	 	 	21586.168	 	 	 	3100647.294	 	 	 	28	 	 	 	1	 	 	 	11.0167	 	 	 	26	 	 	 	46	 	 	 	49.8131	 

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	LO 27	 	 	WGS 84 Lo 27	 	 	Latitude WGS 84	 	 	Longitude WGS 84	 
	BEACON	 	Y	 	 	X	 	 	Y	 	 	X	 	 	dd	 	 	mm	 	 	ss.ssss	 	 	dd	 	 	mm	 	 	ss.ssss	 
	2:6
	 	 	21595.006	 	 	 	3100379.129	 	 	 	21630.724	 	 	 	3100672.073	 	 	 	28	 	 	 	1	 	 	 	11.8190	 	 	 	26	 	 	 	46	 	 	 	48.1805	 
	2:7
	 	 	21639.501	 	 	 	3100405.885	 	 	 	21675.219	 	 	 	3100698.829	 	 	 	28	 	 	 	1	 	 	 	12.6856	 	 	 	26	 	 	 	46	 	 	 	46.5499	 
	11
	 	 	21691.103	 	 	 	3100434.624	 	 	 	21726.821	 	 	 	3100727.568	 	 	 	28	 	 	 	1	 	 	 	13.6161	 	 	 	26	 	 	 	46	 	 	 	44.6591	 

 

 

ANNEXURE “2”

IMMOVABLE PROPERTY

	•	 	Portion 1 of the Farm President Steyn No. 154, District Welkom, Free State Province,
in extent of 6,1280 hectares, held under Title Deed No T3452/2002.
	 
	•	 	Remaining Extent of the Farm President Steyn No. 154, District Welkom, Free State
Province, in extent of 780,7253 hectares, held under Title Deed No T4408/2000.

 

 

ANNEXURE “3”

SPECIFIED ASSETS

 

 

	 	 	 	 	 	 	 
	Shaft / Location	 	Asset Name	 	Asset Description	 	Asset Condition
	Steyn 1#

	 	Office Blocks
	 	Various office buildings in clay brick.
	 	Fair
	 
	 	 	 	 	 	 
	Steyn 1#

	 	Change house
	 	One building compartmentalised into several
cloak rooms.
	 	Fair
	 
	 	 	 	 	 	 
	Steyn 1#

	 	Lamp room
	 	477 Lamps
	 	Fair
	 
	 	 	 	 	 	 
	Steyn 1#

	 	Workshops
	 	Various Workshop and store buildings in clay
brick.
	 	Fair
	 
	 	 	 	 	 	 
	Steyn 1#

	 	Stores
	 	Various Workshop and store buildings in clay
brick.
	 	Fair
	 
	 	 	 	 	 	 
	Steyn 1A Vent#

	 	Office Blocks,
change house and
lamproom
	 	A 3 wing Clay brick building situated outside the
security fence area
	 	Fair

 

 

	 	 	 	 	 	 	 
	Shaft / Location	 	Asset Name	 	Asset Description	 	Asset Condition
	Steyn 1#

	 	Man Winder (WP 2124)
	 	2240 kw Metropolitan Vickers Double Drum AC
Winder
	 	Good
	 
	 	 	 	 	 	 
	Steyn 1#

	 	Service Winder (WP 2106)
	 	261 kw Single Drum AC Winder
	 	Good
	 
	 	 	 	 	 	 
	Steyn 1#

	 	Rock Winder (WP 2160)
	 	2312 kw Ward Leonard Double Drum DC Winder
	 	Good
	 
	 	 	 	 	 	 
	Steyn 1A Vent. #

	 	Man Winder (WP 22D)
	 	1512 kw Vickers Armstrong Double drum Cage
and Counterweight AC Winder
	 	Good
	 
	 	 	 	 	 	 
	Steyn 1#

	 	Man Winder Spare Ropes
	 	One Set 41-mm rope
	 	Good
	 
	 	 	 	 	 	 
	Steyn 1#

	 	Rock Winder Spare Ropes
	 	One Set 40-mm rope
	 	Good
	 
	 	 	 	 	 	 
	Steyn 1#

	 	Service Winder Spare Rope
	 	One 29-mm rope
	 	Good
	 
	 	 	 	 	 	 
	Steyn 1A Vent. #

	 	Man Winder Spare Rope
	 	One 43-mm rope
	 	Good
	 
	 	 	 	 	 	 
	Steyn 1#

	 	Spare Sheave
	 	One spare sheave for either Man or Rock Winder
	 	Good
	 
	 	 	 	 	 	 
	Steyn 1#

	 	Spare Guides
	 	50 Spare Tophat guides
	 	Good
	 
	 	 	 	 	 	 
	Steyn 1A Vent.#

	 	Spare Sheave
	 	One spare sheave
	 	Good

 

 

	 	 	 	 	 	 	 
	Shaft / Location	 	Asset Name	 	Asset Description	 	Asset Condition
	Steyn 1A Vent #

	 	Main Fan No 1
	 	1800 hp Howden Sanfanco 600 PPM ,
236m3 @ 3.99 KPA
	 	Fair to Good
	 
	 	 	 	 	 	 
	Steyn 1A Vent#

	 	Main Fan No 2
	 	1800 hp Howden Sanfanco 600 RPM ,
236m3 @ 3.99 KPA
	 	Fair to Good
	 
	 	 	 	 	 	 
	Steyn 1#

	 	BGE Compressor
	 	3346 kW compressor
	 	Fair
	 
	 	 	 	 	 	 
	Steyn 1#

	 	Sulzer
	 	4800 KW compressor
	 	Fair
	 
	 	 	 	 	 	 
	Steyn 1#

	 	Compressor Cooling
Towers
	 	4 X Cooloing towers — Insides stripped out,
not in operation
	 	Not operational,
outside main frames
in Fair condition
	 
	 	 	 	 	 	 
	Steyn 1#

	 	Cooling Pond
	 	Concrete dam structure with water sprays
	 	Fair
	 
	 	 	 	 	 	 
	Steyn 1#

	 	Compressor Cooling
pumps
	 	Installation of 4 sets, only 3 sets operable
	 	Fair
	 
	 	 	 	 	 	 
	Steyn 1#

	 	Small Motor
Generator set
	 	Installed in basement, auxilary supply
	 	Fair

 

 

	 	 	 	 	 	 	 
	Shaft / Location	 	Asset Name	 	Asset Description	 	Asset Condition
	Steyn 1#

Consumer
Substation

	 	Panels and
Switchgear
	 	All Vacuum circuit Breakers
	 	Good.
	 
	 	 	 	 	 	 
	Steyn 1#
Main
Substation

	 	Panels and
Switchgear
	 	Separate building, all Vacuum circuit Breakers
	 	Good.
	 
	 	 	 	 	 	 
	Steyn 1#
Consumer
Substation

	 	Panels and
Switchgear
	 	All Vacuum circuit Breakers feeding two
overhead lines to 1A Vent shaft
	 	Good.

 

 

	 	 	 	 	 	 	 
	Shaft / Location	 	Asset Name	 	Asset Description	 	Asset Condition
	Steyn 2#

	 	Man Winder (WP 2148)
	 	3000 hp Metropolitan Vickers Double Drum AC
Winder
	 	Good
	 
	 	 	 	 	 	 
	Steyn 2#

	 	F&C Winder (WP 4023B)
	 	2400 hp Fraser & Chalmers Double Drum Ward
Leonard Winder (Cage & Counterweight)
	 	Good
	 
	 	 	 	 	 	 
	Steyn 2#

	 	Rock Winder (WP 2168)
	 	3100 hp Ward Leonard Double Drum Winder (Met
Vickers)
	 	Good
	 
	 	 	 	 	 	 
	Steyn 2#

	 	Man Winder Spare Rope
	 	One set of 41-mm ropes
	 	Good
	 
	 	 	 	 	 	 
	Steyn 2#

	 	F&C Winder Spare Rope
	 	One 38-mm rope
	 	Good
	 
	 	 	 	 	 	 
	Steyn 2#

	 	Spare Rope for S2A winder
on 48L (ex 3# Barlows
winder)
	 	One 38.5-mm rope
	 	Good
	 
	 	 	 	 	 	 
	Steyn 2#

	 	Spare guides
	 	30 Spare guides for 2#
	 	Good
	 
	 	 	 	 	 	 
	Steyn 2#

	 	Spare Sheaves
	 	One spare sheave for each of the three winders
	 	Good

 

 

	 	 	 	 	 	 	 
	Shaft / Location	 	Asset Name	 	Asset Description	 	Asset Condition
	Steyn 2#

	 	West Fan
	 	1800 hp (AEI) Main Fan
	 	All equipment in tact, but very dirty. Housekeeping in
fan house not good. Sliding doors don’t seem to close
properly. Windows broken. Fan ducting access cowling rusted.
	 
	 	 	 	 	 	 
	Steyn 2#

	 	East Fan
	 	1800 hp (AEI) Main Fan
	 	All equipment in tact, but very dirty. Housekeeping in
fan house not good. Sliding doors don’t seem to close
properly. Windows broken. Fan ducting access cowling rusted.
	 
	 	 	 	 	 	 
	Steyn 2#

	 	Oerlikon Compressor
	 	25 000 cfm, 3600 kW compressor
	 	Good. Refurbished motor in position, but not commissioned.
	 
	 	 	 	 	 	 
	Steyn 2#

	 	BGE Compressor
	 	20 000 cfm, 5339 hp compressor
	 	Good.

 

 

	 	 	 	 	 	 	 
	Shaft / Location	 	Asset Name	 	Asset Description	 	Asset Condition
	Steyn 2# Consumer
Substation

	 	Meter panel 1 & 2
	 	Building. Panel 1: 18 switches.
Panel 2: 17 switches
	 	Good.
	 
	 	 	 	 	 	 
	Steyn 2# Consumer
Substation

	 	Meter panel 3A
	 	Separate building.
	 	Good.
	 
	 	 	 	 	 	 
	Steyn 2# Consumer
Substation

	 	Meter panel 3B
	 	Separate building.
	 	Good.
	 
	 	 	 	 	 	 
	Steyn 2# Consumer
Substation

	 	Meter panel 4
	 	Separate building.
	 	Good.
	 
	 	 	 	 	 	 
	Steyn 2# Consumer
Substation

	 	Meter panel 3A
	 	Separate building.
	 	Good.
	 
	 	 	 	 	 	 
	Steyn 2# Eskom
Substation

	 	Eskom Substation
	 	Eskom Blockhouse fed by two transformers.
	 	Building badly damaged by electrical
explosion. Unsafe. Repairs pending.
	 
	 	 	 	 	 	 
	Steyn 2# Consumer
Substation

	 	Feeders
	 	Cable on racks from consumer substation
to shaft and plant.
	 	Good. All cables in tact.

 

 

	 	 	 	 	 	 	 
	Shaft / Location	 	Asset Name	 	Asset Description	 	Asset Condition
	Steyn 2#

	 	Office Blocks
	 	Various office buildings in clay brick.
	 	Good.
	 
	 	 	 	 	 	 
	Steyn 2#

	 	Change house
	 	One building compartmentalised into
several cloak rooms.
	 	Good.
	 
	 	 	 	 	 	 
	Steyn 2#

	 	Lamp room
	 	Three separate lamp storing areas
within the Change House Building.
	 	Good. A lamp census was not done, but it was
reported that many lamps have been stolen in
three separate theft incidents.
	 
	 	 	 	 	 	 
	Steyn 2#

	 	Workshops
	 	10 workshops with equipment.
	 	Good.
	 
	 	 	 	 	 	 
	Steyn 2#

	 	Stores
	 	1 Stores building.
	 	Good.
	 
	 	 	 	 	 	 
	Steyn 2#

	 	Hostel
	 	 	 	Fair
	 
	 	 	 	 	 	 
	Regional

	 	Regional Offices
	 	 	 	Good
	 
	 	 	 	 	 	 
	Regional

	 	Assay lab
	 	 	 	Good

 

 

	 	 	 	 	 	 	 
	Shaft / Location	 	Asset Name	 	Asset Description	 	Asset Condition
	Regional

	 	Proto equipment
	 	8 complete BG4 self breathing apparatus. (body
guards not installed, therefore not approved for
use)
	 	Good
	 
	 	 	 	 	 	 
	Regional

	 	Proto equipment
	 	8 full-face masks
	 	Good
	 
	 	 	 	 	 	 
	Regional

	 	Proto equipment
	 	1 resuscitator
	 	Good
	 
	 	 	 	 	 	 
	Regional

	 	Proto equipment
	 	2 complete tool bags
	 	Good
	 
	 	 	 	 	 	 
	Regional

	 	Proto equipment
	 	3 cool bags
	 	Good
	 
	 	 	 	 	 	 
	Regional

	 	Proto equipment
	 	7 boxes soda lime
	 	Good
	 
	 	 	 	 	 	 
	Regional

	 	Proto equipment
	 	6 life lines
	 	Good
	 
	 	 	 	 	 	 
	Regional

	 	Proto equipment
	 	1 chest freezer
	 	Good
	 
	 	 	 	 	 	 
	Regional

	 	Proto equipment
	 	1 large scale
	 	Good
	 
	 	 	 	 	 	 
	Regional

	 	Proto equipment
	 	1x GDI 3 gas detector
	 	Good

					
	 	 	 	 	 
	 
	 	
	 	

 

 

ANNEXURE “4”

SURFACE RIGHT PERMITS

	 	 	 	 	 	 	 	 	 
	Description	 	SRP NO	 	R M T NO	 	New SRP No	 	Registered Holder
	 
	 	 	 	 	 	 	 	 
	Rock dump with fencing on
Witpan 62

	 	0 24/53
	 	SR 55
	 	None
	 	Free State Consolidated Gold
Mines (Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Shaft equipment area with
fencing on Witpan 62

	 	0 9/54
	 	SR 53
	 	None
	 	Free State Consolidated Gold
Mines (Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Explosives magazine with
fencing on Witpan 62

	 	0 23/54
	 	SR 97
	 	None
	 	Free State Consolidated Gold
Mines (Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Compound with fencing
situate on Witpan 62

	 	0 2/55
	 	SR 52
	 	None
	 	Free State Consolidated Gold
Mines (Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Extension to existing area
for rock dump fencing on
Witpan 62

	 	0 3/55
	 	SR 118
	 	None
	 	Free State Consolidated Gold
Mines (Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Extension to explosives
magazines with fencing on
Witpan 62

	 	0 18/55
	 	SR 154
	 	None
	 	Free State Consolidated Gold
Mines (Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Extension to explosives
magazines with fencing on
Witpan 62

	 	0 46/55
	 	SR 186
	 	None
	 	Free State Consolidated Gold
Mines (Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Sports field with fencing
on Klippan 14

	 	0 54/55
	 	SR 104
	 	None
	 	Free State Consolidated Gold
Mines (Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Area for shaft equipment
with fencing on Klippan 14

	 	0 4/56
	 	SR 120
	 	4708/2005
	 	Free State Consolidated Gold
Mines (Operations) Limited
	 
	 	 	 	 	 	 	 	 
	School with fencing on
Witpan 62

	 	0 74/56
	 	SR 268
	 	4696/2005
	 	Free State Consolidated Gold
Mines (Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Overhead electric power
line on Witpan 62

	 	0 14/57
	 	SR 376
	 	4760/2005
	 	Free State Consolidated Gold
Mines (Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Storm water drains 30” wide
on Witpan 62 and Klippan 14

	 	0 25/57
	 	SR 368
	 	4704/2005
	 	Free State Consolidated Gold
Mines (Operations) Limited
	 
	 	 	 	 	 	 	 	 
	A sewer pump house with
fencing and underground
electric cables on Klippan
14

	 	0 38/57
	 	SR 355
	 	4787/2005
	 	Free State Consolidated Gold
Mines (Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Sewer pipelines on Witpan
62 and Klippan 14

	 	0 40/57
	 	SR 375
	 	4675/2005
	 	Free State Consolidated Gold
Mines (Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Compound with fencing on
Klippan 14

	 	0 52/57
	 	SR 37
	 	4755/2005
	 	Free State Consolidated Gold
Mines (Operations) Limited

					
	 	 	 	 	 
	 
	 	
	 	

 

 

Page 2

	 	 	 	 	 	 	 	 	 
	Description	 	SRP NO	 	R M T NO	 	New SRP No	 	Registered Holder
	 
	 	 	 	 	 	 	 	 
	Residue
pipeline on Klippan
14 and others

	 	0 72/57
	 	SR 290
	 	4705/2005
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Police barracks
with fencing on
Klippan 14

	 	0 79/57
	 	SR 145
	 	4771/2005
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Sewer pipeline on
Witpan 62 and
Klippan 14

	 	0 99/57
	 	SR 404
	 	4769/2005
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Water pipeline and
pump house on
Witpan 62

	 	0 100/57
	 	SR 435
	 	None
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Water pipelines on
Witpan 62 and
Klippan 14

	 	0 101/57
	 	SR 436
	 	4759/2005
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Extension to shaft
equipment with
fencing on Klippan
14

	 	0 146/57
	 	SR 437
	 	4904/2005
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Overhead electric
power line on
Witpan 62

	 	0 109/57
	 	SR 433
	 	4789/2005
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Married quarters
with fencing on
Klippan 14 and
Witpan 62

	 	0 126/57
	 	SR 27
	 	4774/2005
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Mine roads, mine
railway lines, mine
railway siding with
fencing, air mains
and power cables,
mine salt water
pipeline and
measuring weir on
Uitsig 94, Witpan
62 and Klippan 14

	 	0 122/57
	 	SR 273
	 	4749/2005
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	A bone storehouse
with fencing on
Witpan 62

	 	0 135/57
	 	SR 440
	 	4700/2005
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	2’6” railway track
and coal bunker on
Klippan 14

	 	0 144/57
	 	SR 441
	 	None
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Extension to rock
dump with fencing
on Witpan 62

	 	0 1/58
	 	SR 438
	 	4768/2005
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Two water pipelines
on Uitsig 94,
Witpan 62 and
Klippan 14 district
Welkom

	 	0 8/58
	 	SR 460
	 	4770/2005
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Mine roads 40’ wide
on Witpan No 62 and
Klippan 14

	 	0 9/58
	 	SR 448
	 	4777/2005
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Storm water drains
on Witpan 62

	 	0 16/58
	 	SR 475
	 	4662/2005
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Overhead electric
power lines and
underground
electric cables on
Witpan 62

	 	0 23/58
	 	SR 449
	 	4772/2005
	 	Free State Consolidated Gold Mines
(Operations) Limited

					
	 	 	 	 	 
	 
	 	
	 	

 

Page 3

	 	 	 	 	 	 	 	 	 
	Description	 	SRP NO	 	R
M T NO	 	New SRP No	 	Registered Holder
	 
	 	 	 	 	 	 	 	 
	Assay office with
fencing on Klippan 14

	 	0 38/58
	 	SR 476
	 	4706/2005
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	General offices with
fencing on Klippan 14

	 	0 39/58
	 	SR 488
	 	4715/2005
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Overhead electric power
line and underground
electric cable on Klippan
14

	 	0 49/58
	 	SR 498
	 	4711/2005
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Extension to compound with
fencing on Klippan 14

	 	0 51/58
	 	SR 235
	 	4792/2005
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Extension to slimes dam
with fencing on Klippan 14

	 	0 64/58
	 	SR 513
	 	4697/2005
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Parking garages with
fencing on Klippan 14

	 	0 65/58
	 	SR 497
	 	4709/2005
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	1.   Underground electric
cables

	 	0 17/59
	 	SR 555
	 	4716/2005
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	2.   Overhead electric
power line
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	3.   Mine water pipelines
on Klippan 14
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Water pipeline on Klippan 14

	 	0 60/59
	 	SR 608
	 	None
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Underground electric cable
on Uitsig 94 and Witpan 62

	 	0 66/59
	 	SR 577
	 	4905/2005
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Sewer pipe line with sewer
pump house on Klippan 14

	 	0 39/60
	 	SR 648
	 	4710/2005
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Mine road 40’ wide on
Witpan 62

	 	0 52/60
	 	SR 671
	 	4687/2005
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Mine railway line 20’ wide
on Klippan 14

	 	0 9/61
	 	SR 672
	 	None
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	16” air column on Witpan 62
and Klippan 14

	 	0 71/62
	 	SR 818
	 	4782/2005
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Area for shaft equipment
and area for waste rock
dump on Witpan 62

	 	0 19/64
	 	SR 900
	 	None
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Extension to explosives
magazines with fencing on
Witpan 62

	 	0 15/65
	 	SR 917
	 	4783/2005
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Mine road on Witpan 62

	 	0 31/65
	 	SR 954
	 	4785/2005
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	1.   10” air column

	 	0 6/66
	 	SR 956
	 	4784/2005
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	2.   Underground electric
cables
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	3.   50’ strip for water
	 	 	 	 	 	 	 	 

					
	 	 	 	 	 
	 
	 	
	 	

 

Page 4

	 	 	 	 	 	 	 	 	 
	Description	 	SRP NO	 	R M T NO	 	New SRP No	 	Registered Holder
	 
	 	 	 	 	 	 	 	 
	      pipeline, service
road and telephone lines

	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	4.   Sewer pipeline, on
Witpan 62
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Extension to shaft
equipment area with
fencing on Witpan 62

	 	0 19/66
	 	SR 958
	 	4901/2005
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Extension to compound with
fencing on Witpan 62

	 	0 9/67
	 	SR 965
	 	4903/2005
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Railway track on Witpan 62

	 	0 39/67
	 	SR 1016
	 	None
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Water drain and water
pipeline on Witpan 62

	 	35/68
	 	SR 1018
	 	None
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Industrial water pipeline
on Witpan 62, Uitsig No 94
and Klippan 14

	 	36/68
	 	SR 997
	 	None
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Extension to explosives
magazine with fencing on
Witpan 62

	 	56/69
	 	0 210/68
	 	4912/2005
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Extension to shaft
equipment with fencing on
Witpan 62

	 	120/72
	 	0 39/72
	 	None
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Water pipeline on Uitsig 94

	 	184/72
	 	0 125/69
	 	None
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Extension to shaft
equipment with fencing
Klippan 14

	 	77/74
	 	0 101/73
	 	None
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Fresh water pipeline
— Klippan 14

	 	85/74
	 	0 97/73
	 	None
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Mine Security kennels with
fencing — Klippan 14

	 	193/75
	 	0 278/75
	 	None
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Sewer pipeline — Klippan
No 14 and Witpan 62

	 	44/76
	 	0 79/76
	 	None
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Sewer pipeline — Klippan
No 14 and Witpan 62

	 	45/76
	 	0 75/76
	 	None
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	European housing with
fencing — Klippan 14

	 	3/77
	 	0 362/76
	 	None
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Slimes dam with fencing on
Witpan 62 and Klippan 14

	 	32/77
	 	014/77
	 	None
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Extension to residential
quarters with fencing
— Witpan 62

	 	111/77
	 	0 22/77
	 	4761/2005
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Slimes dam with fencing on

	 	183/77
	 	0 206/77
	 	4673/2005
	 	Free State Consolidated Gold Mines

					
	 	 	 	 	 
	 
	 	
	 	

 

Page 5

	 	 	 	 	 	 	 	 	 
	Description	 	SRP NO	 	R
M T NO	 	New SRP No	 	Registered Holder
	 
	 	 	 	 	 	 	 	 
	Witpan 62

	 	 	 	 	 	 	 	(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Extension to residential
quarters with fencing
— Farms Witpan 62 and
Klippan 14

	 	241/77
	 	0 363/76
	 	4703/2005
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Area for residential
quarters for security
personnel, offices and
purposes incidental thereto
with fencing Klippan 14

	 	144/78
	 	0 114/78
	 	None
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Cement silos on Witpan 62

	 	57/80
	 	0 95/80
	 	4671/2005
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Engineering apprentices
training centre with
fencing on Witpan 62

	 	125/80
	 	0 145/80
	 	4714/2005
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	1.   Extension to
residential quarters with
fencing

	 	10/82
	 	0 216/81
	 	None
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	2.   Recreation
ground with fencing on
Witpan 62
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Extension to rock dump with
fencing on Witpan 62

	 	29/84
	 	0 60/83
	 	4899/2005
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Electrical power
sub-station with fencing on
Klippan 14

	 	51/84
	 	0 67/84
	 	None
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Underground electric cables
on Witpan No 62 and Klippan
14

	 	56/85
	 	0 52/85
	 	None
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Water pipelines on Witpan 62

	 	427/89
	 	0 143/86
	 	None
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Water pipelines on Klippan
14

	 	55/91
	 	0 119/86
	 	None
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Extension to slimes dam
with fencing on Klippan 14

	 	132/91
	 	0 121/91
	 	None
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Extension to engineering
apprentices training centre
with fencing on Witpan 62

	 	222/91
	 	0 93/91
	 	4930/2005
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Regional office, with
fencing on Klippan 14

	 	255/91
	 	0 250/91
	 	None
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Security barracks with
fencing on Witpan 62

	 	126/92
	 	0 245/91
	 	4691/2005
	 	Free State Consolidated Gold Mines
(Operations) Limited
	 
	 	 	 	 	 	 	 	 
	Extension to residential
quarters for mine employees
with fencing on Witpan 62

	 	156/92
	 	0 57/92
	 	4902/2005
	 	Free State Consolidated Gold Mines
(Operations) Limited

					
	 	 	 	 	 
	 
	 	
	 	

 

 

ANNEXURE “5”

OLD ORDER MINING RIGHT

					
	 	 	 	 	 
	 
	 	
	 	

 

	G.P.-S. 010-0233 MD 109E
Republic of South Africa
Republiek van Suid-Afrika
DEPARTMENT OF MINERAL AND ENERGY AFFAIRS
MINING LICENCE
[Minerals Act, 1991: Section 9 (1) read with 9 (3) (e)]
10 JUL 2002
Office date stamp
Licence No. 9/2002
Office reference FS 5/3/2/508 Vol 3
Authorization is hereby granted under and subject to the provisions of the Minerals Act, 1991,
to (full name) PRESIDENT STEYN GOLD MINES (FREE STATE)
(PROPRIETARY) LIMITED
registration number 98/19764/07
(hereinafter referred to as “the holder”)
of (address)
PRIVATE BAG X10206
WELKOM
9460
to mine for (name of mineral) PRECIOUS METALS AND PRECIOUS METALS
in respect of tailings*
on (full name of farm and subdivision) PRESIDENT STEYN 154 AND SUBDIVISION 10 KLIPPAN 14;
THE REMAINDER OF KLIPPAN 14; THE REMAINDER OF WITPAN 62; THE REMAINDER OF UITSIG 94,
VOORSPOED OOS 134 AND WELCOM 41
No. Magisterial District WELKOM Region REE STATE
as indicated on the attached sketch plan No. FS 9/2002 (M.L)
DIRECTOR: MINERAL DEVELOPMENT
signed by the on 10 JULY 2002
Full name of the holder of the right to the said mineral PRESIDENT STEYN GOLD MINES
(FREE STATE) (PROPRIETARY) LIMITED REG. NO. 98/19764/07 AS DEEMED HOLDER OF SUCH RIGHTS IN TERMS OF
SECTION 47(1)(e) OF THE MINERALS ACT, 1991 (ACT 50 OF 1991)

Unless this licence is suspended, cancelled or abandoned or lapses it shall be valid for a period
(more than two years) which shall extend from the date of issuing until 9 JULY 2015
(If a specific date is inserted, delete the words that follow the date.)

			
	 
	 	

 

 

	MD 109E
This licence does not exempt the holder from the requirements of any provision of any other
law or from any restrictive provisions or conditions contained in the title deed of the land
concerned, nor does it encroach upon the rights of any person who may have an interest in the
land or tailings concerned or the mineral rights in respect of such land or tailings.
Signed at WELKOM this 10TH day of JULY 2002
MINERAL DEVELOPMENT
· Delete the words “in respect of tailings” if they are not applicable.

			
	 
	 	

2exv4w16

Exhibit 4.16

SALE OF ASSETS AGREEMENT (WASTE ROCK DUMP)

between

PAMODZI GOLD FREE STATE (PROPRIETARY) LIMITED

(IN PROVISIONAL LIQUIDATION)

and

AVGOLD LIMITED

 

 

TABLE OF CONTENTS

	 	 	 	 	 

	1
	 	PARTIES	 	1
	2
	 	INTERPRETATION	 	1
	3
	 	INTRODUCTION	 	7
	4
	 	CONDITIONS PRECEDENT	 	7
	5
	 	TRIGGER EVENT	 	8
	6
	 	SALE	 	9
	7
	 	PURCHASE CONSIDERATION	 	9
	8
	 	PAYMENT OF THE PURCHASE CONSIDERATION	 	9
	9
	 	USE OF THE PURCHASE CONSIDERATION	 	9
	10
	 	CLOSING	 	10
	11
	 	BUSINESS LIABILITIES	 	11
	12
	 	REHABILITATION LIABILITIES	 	11
	13
	 	PROCESSING OF THE WASTE ROCK DUMP	 	11
	14
	 	WARRANTIES BY THE SELLER	 	12
	15
	 	GENERAL WARRANTIES	 	13
	16
	 	EMBARGO	 	14
	17
	 	CONFIDENTIALITY	 	14
	18
	 	PUBLICITY	 	16
	19
	 	SUPPORT	 	17
	20
	 	BREACH	 	17
	21
	 	DISPUTE RESOLUTION	 	18
	22
	 	NOTICES AND DOMICILIA	 	19
	23
	 	BENEFIT OF THE AGREEMENT	 	20
	24
	 	APPLICABLE LAW AND JURISDICTION	 	20
	25
	 	GENERAL	 	20
	26
	 	COSTS	 	21
	27
	 	SIGNATURE	 	22

ANNEXURES

ANNEXURE “1” : WASTE ROCK DUMP AREA

ANNEXURE “2” : SURFACE RIGHT PERMITS

 

1

WHEREBY THE PARTIES AGREE AS FOLLOWS —

			
	1	 	PARTIES

	1.1	 	Pamodzi Gold Free State (Proprietary) Limited (in provisional liquidation); and
	 
	1.2	 	Avgold Limited

			
	2	 	INTERPRETATION

	2.1	 	In this Agreement —
	 
	2.1.1	 	clause headings are for convenience only and are not to be used in its interpretation;
	 
	2.1.2	 	an expression which denotes —
	 
	2.1.2.1	 	any gender includes the other genders;
	 
	2.1.2.2	 	a natural person includes a juristic person and vice versa; and
	 
	2.1.2.3	 	the singular includes the plural and vice versa.
	 
	2.2	 	In this Agreement, unless the context indicates a contrary intention, the following
words and expressions bear the meanings assigned to them and cognate expressions bear
corresponding meanings —
	 
	2.2.1	 	“Administration Expenses Agreement” means the written agreement entered into between
Harmony and the Seller in terms of which Harmony agreed to pay the Seller an amount
of R5,000,000 (five million rand) in respect of certain expenses to be incurred by
the Seller;
	 
	2.2.2	 	“AFSA” means the Arbitration Foundation of Southern Africa;
	 
	2.2.3	 	“Agreement” means this sale of assets agreement;
	 
	2.2.4	 	“Applicable Date” means 7 August 2009;
	 
	2.2.5	 	“Budget” shall bear the meaning ascribed to it in the Administration Expenses
Agreement and shall include any other budget agreed to in writing between the Parties
from time to time;
	 
	2.2.6	 	“Business” means the gold mining, processing and related business carried on by the
Seller under the name and style of “President Steyn Gold Mines”

 

2

	 	 	prior to the Signature Date, which business included the operation of the Steyn Shafts and the Sale Assets;
	 
	2.2.7	 	“Business Liabilities” means all liabilities of whatsoever nature or kind, and wherever
and howsoever arising, of the Seller other than the Rehabilitation Liabilities;
	 
	2.2.8	 	“Companies Act” means the Companies Act, 1973;
	 
	2.2.9	 	“Conditions Precedent” means the conditions precedent set out in clause 4.1;
	 
	2.2.10	 	“DMR” means the Department of Mineral Resources of the Government of the Republic of South
Africa;
	 
	2.2.11	 	“Effective Date” means the 2nd (second) business day after the Measurement Date;
	 
	2.2.12	 	“Harmony” means Harmony Gold Mining Company Limited, registration number 1950/038232/06, a
limited liability public company duly incorporated in the Republic of South Africa;
	 
	2.2.13	 	“Liquidators” means the provisional liquidators of the Seller being Allan David Pellow,
Barend Peterson, Deon Marius Botha, Enver Mohammed Motala, Gavin Cecil Gainsford and Johan
Engelbrecht;
	 
	2.2.14	 	“Measurement Date” means the 1st (first) business day immediately succeeding
the day on which the last of the Conditions Precedent has been fulfilled or waived, as the
case may be;
	 
	2.2.15	 	“MPRDA” means the Mineral and Petroleum Resources Development Act, 2002;
	 
	2.2.16	 	“North Sale Agreement” means a written agreement entered or to be entered into between the
Purchaser and the Seller in terms of which the Purchaser acquires the gold mining,
processing and related business owned by the Seller and known as “President Steyn North
Division”;
	 
	2.2.17	 	“Parties” means the parties to this Agreement;
	 
	2.2.18	 	“Plant Sale Agreement” means a written agreement entered or to be entered into between
Harmony and the Seller in terms of which Harmony acquires the

 

3

	 	 	gold processing plant owned by the Seller and known as the “PSGM Plant” and associated assets;
	 
	2.2.19	 	“Purchase Consideration” means the amount payable by the Purchaser to the
Seller for the Sale Assets in terms of this Agreement, details of which are
set out in clause 7;
	 
	2.2.20	 	“Purchaser” means Avgold Limited, registration number 1990/007025/06, a
limited liability public company duly incorporated in the Republic of South
Africa;
	 
	2.2.21	 	“Purchaser’s Attorneys” means Cliffe Dekker Hofmeyr Incorporated,
registration number 2008/018923/21, a limited liability private company duly
incorporated in the Republic of South Africa;
	 
	2.2.22	 	“Purchaser’s Group” means Harmony and its subsidiaries;
	 
	2.2.23	 	“Rehabilitation Liabilities” means the Seller’s obligations to rehabilitate
all environmental disturbances, including health and pollution, and
degradation existing within the Waste Rock Dump Area (including any object
and/or thing beneath the Waste Rock Dump Area) as at the Effective Date, and
shall include -
	 
	2.2.23.1	 	all restoration, anti-pollution measures, anti-flooding measures, making
safe, rehabilitation, compliance with the terms of any rehabilitation plans
and/or programs approved by the DMR; and
	 
	2.2.23.2	 	all compliance with all lawful directives of all regulatory authorities;
	 
	2.2.24	 	“Related Agreements” means the Plant Sale Agreement, the North Sale Agreement
and the South Sale Agreement;
	 
	2.2.25	 	“Sale” means the sale by the Seller of the Sale Assets to the Purchaser in
terms of this Agreement;
	 
	2.2.26	 	“Sale Assets” means —
	 
	2.2.26.1	 	the Waste Rock Dump;
	 
	2.2.26.2	 	the Surface Right Permits; and
	 
	2.2.26.3	 	the Servitudes;

 

4

	2.2.27	 	“Seller” means Pamodzi Gold Free State (Proprietary) Limited (in provisional
liquidation), registration number 1998/019764/07, a limited liability private
company duly incorporated in the Republic of South Africa, duly represented
herein by the Liquidators;
	 
	2.2.28	 	“Seller’s Designated Account” means the bank account nominated by the
Seller, the details of which are set out below, or such other account as the
Seller may designate in writing on 5 (five) business days notice to the
Purchaser —

	 	 	 

	Name of Account:

	 	Pamodzi Gold Free State (Proprietary) Limited (In Liquidation)
	Bank:

	 	Absa Bank Limited
	Branch:

	 	Auckland Park
	Branch Code:

	 	632005 
	Account Number:

	 	407 451 2528 

	2.2.29	 	“Servitudes” means all servitudes granted to and used by the Seller in
connection with the Sale Assets, or which relate in any way to the Sale
Assets,
and which are capable of being transferred by the Seller to the Purchaser;
	 
	2.2.30	 	“Signature Date” means the date of signature of this Agreement by the Party
last signing;
	 
	2.2.31	 	“South Sale Agreement” means a written agreement entered or to be
entered into between Harmony and the Seller in terms of which Harmony
acquires the gold mining, processing and related business owned by the Seller
and known as “President Steyn South Division”;
	 
	2.2.32	 	“Steyn Shafts” means the gold mines known as Steyn 1 Shaft, Steyn 2 Shaft,
Steyn 3 Shaft (previously known as Loraine 3 Shaft), Steyn 7 Shaft
(previously
known as Freddies 7 Shaft) and Steyn 9 Shaft (previously known as Freddies
9 Shaft) and the ventilation shafts known as Steyn 1A Shaft, Steyn 4 Shaft
(previously known as Loraine 4 Shaft) and Steyn 8 Shaft (previously known as
Freddies 8 Shaft);
	 
	2.2.33	 	“Surface Right Permits” means the surface right permits used by the Seller
in connection with the Sale Assets, including those listed in annexure “2”;
	 
	2.2.34	 	“Trigger Event” means the Seller being in breach of this Agreement or having
failed to comply with any of its obligations under this Agreement which are

 

5

	 	 	required to have been complied with as at the Measurement Date;
	 
	2.2.35	 	“VAT” means value-added tax as levied from time to time in terms of the VAT
Act;
	 
	2.2.36	 	“VAT Act” means the Value-Added Tax Act, 1991;
	 
	2.2.37	 	“Warranties” means the warranties expressly given by the Seller to the
Purchaser in terms of this Agreement;
	 
	2.2.38	 	“Waste Rock Dump” means —
	 
	2.2.38.1	 	the waste rock dump known as “Freddies 9 Shaft Waste Rock Dump”,
which is owned by the Seller and located on the Waste Rock Dump Area;
	 
	2.2.38.2	 	all gold and gold bearing rock situated on or within the waste rock dump
known as “Freddies 9 Shaft Waste Rock Dump” as at the Applicable Date;
	 
	2.2.38.3	 	all gold and gold bearing rock and material up to 50 (fifty) metres under the
Waste Rock Dump Area;
	 
	2.2.38.4	 	all gold and gold bearing material on the Waste Rock Dump Area, as at the
Applicable Date; and
	 
	2.2.39	 	“Waste Rock Dump Area” means the area outlined in purple and labelled
“WASTE ROCK DUMP” on the plan annexed hereto as annexure “1”.
	 
	2.3	 	Any substantive provision, conferring rights or imposing obligations on a Party
and appearing in any of the definitions in this clause 1 or elsewhere in this
Agreement, shall be given effect to as if it were a substantive provision in the
body of the Agreement.
	 
	2.4	 	Words and expressions defined in any clause shall, unless the application of any
such word or expression is specifically limited to that clause, bear the meaning
assigned to such word or expression throughout this Agreement.
	 
	2.5	 	Subject to clauses 2.6, 2.8 and 2.16, defined terms appearing in this Agreement
in title case shall be given their meaning as defined, while the same terms
appearing in lower case shall be interpreted in accordance with their plain English
meaning.
	 
	2.6	 	The terms “holding company” and “subsidiary” shall bear the meanings assigned
thereto in the Companies Act.

 

6

	2.7	 	A reference to any statutory enactment shall be construed as a reference to that
enactment as at the Signature Date and as amended or substituted from time to
time.
	 
	2.8	 	Reference to “days” shall be construed as calendar days unless qualified by the
word “business”, in which instance a “business day” will be any day other than a
Saturday, Sunday or public holiday as gazetted by the government of the
Republic of South Africa from time to time. Any reference to “business hours”
shall be construed as being the hours between 08h30 and 17h00 on any
business day. Any reference to time shall be based upon South African Standard
Time.
	 
	2.9	 	Unless specifically otherwise provided, any number of days prescribed shall be
determined by excluding the first and including the last day or, where the last day
falls on a day that is not a business day, the next succeeding business day.
	 
	2.10	 	Where figures are referred to in numerals and in words, and there is any conflict
between the two, the words shall prevail, unless the context indicates a contrary
intention.
	 
	2.11	 	No provision herein shall be construed against or interpreted to the disadvantage
of a Party by reason of such Party having or being deemed to have structured,
drafted or introduced such provision.
	 
	2.12	 	The Parties, unless specifically otherwise provided, shall be deemed to be
contracting as principals and not as agents.
	 
	2.13	 	The expiration or termination of this Agreement shall not affect such of the
provisions of this Agreement as expressly provide that they will operate after any
such expiration or termination or which of necessity must continue to have effect
after such expiration or termination, notwithstanding that the clauses themselves
do not expressly provide for this.
	 
	2.14	 	The words “include” and “including” mean “include without limitation” and
“including without limitation”. The use of the words “include” and “including”
followed by a specific example or examples shall not be construed as limiting the
meaning of the general wording preceding it.
	 
	2.15	 	Any reference in this Agreement to “this Agreement” or any other agreement or
document shall be construed as a reference to this Agreement or, as the case

 

7

	 	 	may be, such other agreement or document, as amended, varied, novated or
supplemented from time to time.
	 
	2.16	 	This Agreement incorporates the annexures which annexures shall have the
same force and effect as if set out in the body of this Agreement. In this
Agreement the words “clause” or “clauses” and “annexure” or “annexures” refer
to clauses of and annexures to this Agreement.

3 INTRODUCTION

	3.1	 	The Seller is the beneficial, and where applicable registered, owner of the Sale
Assets.
	 
	3.2	 	The Purchaser wishes to purchase the Sale Assets and the Seller wishes to sell
the Sale Assets to the Purchaser on the terms and conditions herein contained.
	 
	3.3	 	The Parties wish to record in writing their agreement in respect of the above and
matters ancillary thereto.

4 CONDITIONS PRECEDENT

	4.1	 	Save for clauses 1 to 4, clause 13 and clauses 15 to 27 (both inclusive) all of
which will become effective immediately, this Agreement is subject to the
fulfilment of the Conditions Precedent that –

	4.1.1	 	by not later than 17h00 on 18 September 2009, Free State Consolidated Gold
Mines (Operations) Limited has consented in writing to the transfer of the
Surface Right Permits to the Purchaser and the Seller has provided the
Purchaser with written proof of such consent in a form and substance
acceptable to the Purchaser;
	 
	4.1.2	 	by not later than 17h00 on 18 September 2009, The Industrial Development
Corporation of Southern Africa Limited has consented to the Sale and the
Seller has provided the Purchaser with written proof of such consent in a form
and substance acceptable to the Purchaser;
	 
	4.1.3	 	by not later than 17h00 on 18 September 2009, the North Gauteng High
Court, Pretoria has approved the Sale; and
	 
	4.1.4	 	by not later than 17h00 on 8 September 2009, the Related Agreements have
been entered into.

 

8

	4.2	 	The Parties shall use their commercially reasonable endeavours and the Parties
will co-operate in good faith to procure the fulfilment of the Conditions Precedent
as soon as reasonably possible after the Signature Date.
	 
	4.3	 	The Conditions Precedent set out in —
	 
	4.3.1	 	clauses 4.1.1, 4.1.2, and 4.1.4 have been inserted for the benefit of the
Purchaser which will be entitled to waive fulfilment of any of the said
Conditions Precedent, in whole or in part, on written notice to the Seller prior
to the expiry of the relevant time periods set out in those clauses; and
	 
	4.3.2	 	clause 4.1.3 is not capable of being waived.
	 
	4.4	 	The Purchaser shall be entitled to extend the date for fulfilment of all or any of
the
Conditions Precedent on written notice to the Seller, provided that no such
extension in respect of any Condition Precedent shall be more than 60 (sixty)
business days in the aggregate.
	 
	4.5	 	Unless all the Conditions Precedent have been fulfilled or waived, as the case
may be, by not later than the date for fulfilment thereof set out above (or such
later date/s as may be extended in terms of clause 4.4 or as may be agreed
between the Parties in writing) the provisions of this Agreement, save for
clauses 1 to 4, clause 13 and clauses 15 to 27 (both inclusive) which will remain
of full force and effect, will never become of any force or effect and the status
quo
ante will be restored as near as may be possible and neither of the Parties will
have any claim against the other in terms hereof or arising from the failure of the
Conditions Precedent, save for any claims arising from a breach of
clause 4.2.

5 TRIGGER EVENT

	5.1	 	Notwithstanding the fulfilment or waiver of the Conditions Precedent, the
Purchaser shall not be obliged to pay the Purchase Consideration or proceed
with the Sale, and shall be entitled to terminate this Agreement on written notice
to the Seller, in the event that a Trigger Event has occurred at any time on or
before the Measurement Date.
	 
	5.2	 	In the event that the Purchaser terminates this Agreement in accordance with the
provisions of clause 5.1, the status quo ante will be restored as near as may be
possible and, without prejudice to the Parties’ rights in terms of clause 20,
neither
of the Parties will have any claim against the other arising from such termination.

 

9

6 SALE

	6.1	 	The Seller hereby sells to the Purchaser which hereby purchases the Sale Assets.
	 
	6.2	 	Notwithstanding the Signature Date, the Sale will take place on the Effective Date and
ownership of and risk in and benefit attaching to the Sale Assets will, against payment of
the Purchase Consideration, pass to the Purchaser on the Effective Date.
	 
	6.3	 	Possession and effective control of the Sale Assets will be given to the Purchaser on the
Effective Date.

7 PURCHASE CONSIDERATION

The Purchase Consideration is an amount of R20,000,000 (twenty million rand), less any amount
paid by the Purchaser, or any member of the Purchaser’s Group, in consultation with and for
and on behalf of the Seller and/or the Liquidators (other than in terms of the Administration
Expenses Agreement) at any time prior to the Effective Date and which has not been repaid or
deducted from the purchase consideration payable under the Plant Sale Agreement, the South
Sale Agreement or the North Sale Agreement, plus VAT thereon.

8 PAYMENT OF THE PURCHASE CONSIDERATION

	8.1	 	The Purchase Consideration will be paid by the Purchaser on the Effective Date against
compliance by the Seller with the provisions of clause 10.
	 
	8.2	 	All payments to be made in terms of this Agreement will be made by electronic transfer of
immediately available and freely transferable funds to the Seller’s Designated Account, free
of any deductions or set-off whatsoever, in the currency of the Republic of South Africa.

9 USE OF THE PURCHASE CONSIDERATION

Unless otherwise agreed by the Purchaser in writing, the Purchase Consideration shall be
utilised by the Seller exclusively to pay —

	9.1	 	the costs and expenses in respect of “Care and Maintenance” (as defined in the Administration
Expenses Agreement); and
	 
	9.2	 	all or part of the amounts payable to employees of the Seller whose employment has been
terminated for operational reasons,

 

10

	 	 	as specifically provided for in the Budget and otherwise
on mutatis mutandis the same basis as set out in clauses 4.2 to 4.6 (both inclusive) of the
Administration Expenses Agreement.

10 CLOSING

	10.1	 	On the Effective Date representatives of the Parties shall meet at 10h00 at the
offices of the Purchaser’s Attorneys or such other place as the Parties may
agree, at which meeting the Seller will deliver to the Purchaser —
	 
	10.1.1	 	a tax invoice in respect of the Purchase Consideration;
	 
	10.1.2	 	all of the Sale Assets, by such mode of actual or constructive delivery as shall be
appropriate in the circumstances; and
	 
	10.1.3	 	to the extent to which they exist, all books, records and other relevant documents
pertaining solely to the Sale Assets, provided that —
	 
	10.1.3.1	 	insofar as the Seller is obliged in law to retain any such book, record or document, it
shall deliver a photocopy thereof to the Purchaser; and
	 
	10.1.3.2	 	if the Seller requires, at any time after the Effective Date, to make copies of or inspect
any such book, record or document relating to any period prior to the Effective Date, in terms
of or in order to comply with any law or other legal obligation, it shall be entitled to do so
during normal business hours upon reasonable notice to the Purchaser.
	 
	10.2	 	The Seller hereby undertakes to sign and execute, upon request by the Purchaser, all such
documents as may be required to procure, at the cost of the Purchaser, the transfer and, to
the extent possible, the registration of the transfer of the Surface Right Permits,
Servitudes and any other Sale Assets into the name of the Purchaser.
	 
	10.3	 	The Parties may, by agreement in writing, dispense with a meeting on the Effective Date and
may instead ensure delivery of the documents referred to in clause 10.1 and clause 10.2, and
payment of the Purchase Consideration, in such other manner as they agree to be convenient.
	 
	10.4	 	Transfer of the Surface Right Permits and the Servitudes into the name of the Purchaser
shall be given to the Purchaser promptly after the Purchaser has paid the costs of and
incidental to the transfer of the Surface Right Permits and the Servitudes into the name of
the Purchaser. Transfer shall be effected by the

 

11

	 	 	Purchaser’s Attorneys. The Purchaser and the Seller shall, on request from the Purchaser’s
Attorneys, sign all documents required to be signed by the Purchaser’s Attorneys in order
that transfer of the Surface Right Permits and the Servitudes may be effected.
	 
	10.5	 	If the Seller fails to sign and execute any document referred to in this clause 10 within 5
(five) business days of any written request therefor by the Purchaser, the Seller hereby
irrevocably appoints the Purchaser as its attorney and agent in rem suam to do all such
things and sign and execute any documents on its behalf to procure the relevant transfer or
registration.
	 
	10.6	 	The Seller shall, between the Signature Date and the Effective Date, deliver copies of all
notices, reports, plans and correspondence created or received by it and/or the Liquidators
and which materially affects the Sale Assets to the Purchaser.

11 BUSINESS LIABILITIES

The Seller hereby acknowledges and agrees that the Sale specifically excludes the Business
Liabilities.

12 REHABILITATION LIABILITIES

The Seller hereby delegates the Rehabilitation Liabilities to the Purchaser, and the
Purchaser hereby assumes the Rehabilitation Liabilities, with effect from the Effective Date.

13 PROCESSING OF THE WASTE ROCK DUMP

	13.1	 	The Seller shall procure that the Waste Rock Dump has not and is not processed in whole or in
part at any time between the Applicable Date and the Effective Date.
	 
	13.2	 	The Seller shall procure that none of the Sale Assets (or any part thereof) are removed from
the Waste Rock Dump Area for any reason whatsoever.
	 
	13.3	 	The Seller shall procure that the Purchaser and its employees, agents, representatives and
advisers have full and unrestricted access to the Sale Assets at all times after the Signature
Date.
	 
	13.4	 	The Seller shall, between the Signature Date and the Effective Date, keep the Purchaser appraised of
all and any material decisions which the Seller intends to

 

12

	 	 	make in respect of the Sale Assets.
	 
	13.5	 	The Seller acknowledges that the Purchaser intends commencing the processing of all gold and
gold bearing rock situated within or under the Waste Rock Dump, and all gold and gold bearing
material on or under the Waste Rock Dump Area as soon as possible after the Effective Date.
	 
	13.6	 	The Seller hereby undertakes, whether or not any of the Related Agreements are entered into
or become unconditional in accordance with their terms, to –
	 
	13.6.1	 	procure that the Purchaser and its employees, agents, representatives and advisers have full
and unrestricted access to the Sale Assets in perpetuity; and
	 
	13.6.2	 	procure that the Purchaser and its employees, agents, representatives and advisers are
supplied, at the Purchaser’s cost (being the cost thereof to the Seller), with all water and
electricity,
	 
	 	 	so as to enable the excavation, loading and removal of gold and gold bearing rock, and all
gold and gold bearing material on or under the Waste Rock Dump Area, from the Waste Rock
Dump Area, by or on behalf of the Purchaser, for processing.
	 
	13.7	 	If the Purchaser is prevented for any reason whatsoever from commencing the processing as
contemplated in clause 13.5, the Seller shall be obliged, on receipt of a written request
from the Purchaser, to abandon in writing that portion of its applicable mining right
covering the Waste Rock Dump Area so that it is possible for a new mining right to be granted
to the Purchaser in terms of section 23 of the MPRDA in respect of the Waste Rock Dump Area,
in a form and substance acceptable to the Purchaser.
	 
	13.8	 	If the Seller fails to comply with any of the provisions of this clause 13, the Seller
hereby irrevocably and unconditionally appoints the Purchaser as its attorney and agent in
rem suam to do all such things and sign and execute any documents on its behalf so as to
ensure compliance by the Seller with any such provisions.

14 WARRANTIES BY THE SELLER

	14.1	 	The Seller hereby warrants to and in favour of the Purchaser that –
	 
	14.1.1	 	the Seller is the sole and beneficial owner of the Sale Assets (other than the Surface Right
Permits) and the Liquidators have the right and are able to sell

 

13

	 	 	and give free and unencumbered title to the Sale Assets to the Purchaser;
	 
	14.1.2	 	the Seller is the beneficial holder of the Surface Right Permits, same being registered in
the name of Free State Consolidated Gold Mines (Operations) Limited, and the Seller and the
Liquidators will use their best endeavours to give free and unencumbered title to the Surface
Right Permits to the Purchaser; and
	 
	14.1.3	 	subject to the fulfilment of the Conditions Precedent, no person has any right (whether
pursuant to any option, right of first refusal or otherwise) to purchase or acquire (whether
as security or otherwise) any of the Sale Assets other than the right to purchase trading
stock in the normal course of business for value.
	 
	14.2	 	Each Warranty will -
	 
	14.2.1	 	be a separate Warranty and will in no way be limited or restricted by reference to or
inference from the terms of any other Warranty or by any other words in this Agreement;
	 
	14.2.2	 	unless the context indicates a contrary intention, be given as at the Signature Date and the
Effective Date; and
	 
	14.2.3	 	continue and remain in force notwithstanding the completion of the Sale.
	 
	14.3	 	It is recorded that the Purchaser has entered into this Agreement on the strength of the
Warranties and on the basis that the Warranties will be correct on the Signature Date and the
Effective Date.
	 
	14.4	 	Save for the Warranties and representations expressly given or made in this Agreement, no
warranties or representations are given or made, in respect of the Sale Assets, or any other
matter whatsoever, whether express, tacit or implied, and the Sale Assets are being sold on a
voetstoots basis.

15 GENERAL WARRANTIES

	15.1	 	Each of the Parties hereby warrants to and in favour of the other that -
	 
	15.1.1	 	it has the legal capacity and has taken all necessary corporate action required to empower
and authorise it to enter into this Agreement;
	 
	15.1.2	 	this Agreement constitutes an agreement valid and binding on it and enforceable against it
in accordance with its terms;

 

14

	15.1.3	 	the execution of this Agreement and the performance of its obligations
hereunder does not and shall not —
	 
	15.1.3.1	 	contravene any law or regulation to which that Party is subject;
	 
	15.1.3.2	 	contravene any provision of that Party’s constitutional documents; or
	 
	15.1.3.3	 	conflict with, or constitute a breach of any of the provisions of any other agreement,
obligation, restriction or undertaking which is binding on it.
	 
	15.2	 	Each of the representations and warranties given by the Parties in terms of clause 15.1,
shall —
	 
	15.2.1	 	be a separate warranty and will in no way be limited or restricted by inference from the
terms of any other warranty or by any other words in this Agreement;
	 
	15.2.2	 	continue and remain in force notwithstanding the completion of any or all the transactions
contemplated in this Agreement; and
	 
	15.2.3	 	prime facie be deemed to be material and to be a material representation inducing the other
Party to enter into this Agreement.
	 
	16	 	EMBARGO
	 
	 	 	The Seller undertakes that during the period from the Signature Date to the Effective
Date or until the failure of this Agreement to become unconditional in terms of clause 4 or
to it being finally terminated for any reason (i.e. the termination is not, or is no longer,
the subject of any dispute resolution process) it will not enter into any negotiation with,
or seek to solicit any interest from, any third party in relation to the sale of the Sale
Assets or any part thereof, whether directly or indirectly.
	 
	17	 	CONFIDENTIALITY
	 
	17.1	 	The Parties undertake that during the operation of, and after the expiration,
termination or cancellation of, this Agreement for any reason, they will keep confidential —
	 
	17.1.1	 	any information which a Party (“Disclosing Party”) communicates to the other Party
(“Recipient”) and which is stated to be or by its nature is intended to be confidential;
	 
	17.1.2	 	all other information of the same confidential nature concerning the Business or the
business of a Disclosing Party which comes to the knowledge of the

 

15

	 	 	Recipient whilst it is engaged in negotiating the terms of this Agreement or after its
conclusion, including —
	 
	17.1.2.1	 	details of the Disclosing Party’s financial structures and operating results; and
	 
	17.1.2.2	 	details of the Disclosing Party’s strategic objectives and planning.
	 
	17.2	 	If a Recipient is uncertain about whether any information is to be treated as confidential in
terms of this clause 17, it shall be obliged to treat it as such until written clearance is
obtained from the Disclosing Party.
	 
	17.3	 	Each Party undertakes, subject to clause 17.4, not to disclose any information which is to be
kept confidential in terms of this clause 17, nor to use such information for its own or
anyone else’s benefit.
	 
	17.4	 	Notwithstanding the provisions of clause 17.3, a Recipient shall be entitled to disclose any
information to be kept confidential if and to the extent only that the disclosure is bona fide
and necessary for the purposes of carrying out its duties in terms of this Agreement.
	 
	17.5	 	The obligation of confidentiality placed on the Parties in terms of this clause 17 shall
cease to apply to a Recipient in respect of any information which —
	 
	17.5.1	 	is or becomes generally available to the public other than by the negligence or default of
the Recipient or by the breach of this Agreement by the Recipient;
	 
	17.5.2	 	the Disclosing Party confirms in writing is disclosed on a non-confidential basis;
	 
	17.5.3	 	has lawfully become known by or come into the possession of the Recipient on a
non-confidential basis from a source other than the Disclosing Party having the legal right to
disclose same, provided that such knowledge or possession is evidenced by the written records
of the Recipient existing at the Signature Date; or
	 
	17.5.4	 	is disclosed pursuant to a requirement or request by operation of law, regulation or court
order, to the extent of compliance with such requirement or request only and not for any other
purpose,
	 
	 	 	provided that —
	 
	17.5.5	 	the onus shall at all times rest on the Recipient to establish that information

 

16

	 	 	falls within the exclusions set out in clauses 17.5.1 to 17.5.4;
	 
	17.5.6	 	information will not be deemed to be within the foregoing exclusions merely because such
information is embraced by more general information in the public domain or in the Recipient’s
possession; and
	 
	17.5.7	 	any combination of features will not be deemed to be within the foregoing exclusions merely
because individual features are in the public domain or in the Recipient’s possession, but
only if the combination itself and its principle of operation are in the public domain or in
the Recipient’s possession.
	 
	17.6	 	In the event that the Recipient is required to disclose confidential information of the
Disclosing Party as contemplated in clause 17.5.4, the Recipient will —
	 
	17.6.1	 	advise the Disclosing Party thereof in writing prior to disclosure, if possible;
	 
	17.6.2	 	take such steps to limit the disclosure to the minimum extent required to satisfy such
requirement and to the extent that it lawfully and reasonably can;
	 
	17.6.3	 	afford the Disclosing Party a reasonable opportunity, if possible, to intervene in the
proceedings;
	 
	17.6.4	 	comply with the Disclosing Party’s reasonable requests as to the manner and terms of any
such disclosure; and
	 
	17.6.5	 	notify the Disclosing Party of the recipient of, and the form and extent of, any such
disclosure or announcement immediately after it is made.
	 
	18	 	PUBLICITY
	 
	18.1	 	Subject to clause 18.3, each Party undertakes to keep confidential and not to disclose
to any third party, save as may be required in law (including, where applicable, by the rules
of any securities exchange on which the shares of either of the Parties, or the shares of a
holding company of either of the Parties, may be listed) or permitted in terms of this
Agreement, the nature, content or existence of this Agreement.
	 
	18.2	 	No announcements of any nature whatsoever will be made by or on behalf of a Party relating to
this Agreement without the prior written consent of the other Party, save for any announcement
or other statement required to be made in terms of the provisions of any law (or, where
applicable, by the rules of any securities exchange on which the shares of either of the
Parties, or the shares of

 

17

	 	 	a holding company of either of the Parties, may be listed), in which event the Party
obliged to make such statement will first consult with the other Party in order to enable
them in good faith to attempt to agree the content of such announcement, which (unless
agreed) must go no further than is required in terms of such law or rules. This will not
apply to a Party wishing to respond to the other Party which has made an announcement of
some nature in breach of this clause.
	 
	18.3	 	This clause 18 shall not apply to any disclosure made by a Party to its professional advisors
or consultants, provided that they have agreed to the same confidentiality undertakings, or to
any judicial or arbitral tribunal or officer, in connection with any matter relating to this
Agreement or arising out of it.
	 
	19	 	SUPPORT
	 
	 	 	The Parties undertake at all times to do all such things, perform all such actions and take
all such steps and to procure the doing of all such things, the performance of all such
actions and the taking of all such steps as may be open to them and necessary for or
incidental to the putting into effect or maintenance of the terms, conditions and/or import
of this Agreement.
	 
	20	 	BREACH
	 
	20.1	 	If a Party (“Defaulting Party”) commits any breach of this Agreement and fails to remedy such
breach within 5 (five) business days (“Notice Period”) of written notice requiring the breach
to be remedied, then the Party giving the notice (“Aggrieved Party”) will be entitled, at its
option to —
	 
	20.1.1	 	claim immediate specific performance of all or any of the Defaulting Party’s obligations
under this Agreement, with or without claiming damages, whether or not such obligation has
fallen due for performance; or
	 
	20.1.2	 	cancel this Agreement, with or without claiming damages, in which case written notice of the
cancellation shall be given to the Defaulting Party, and the cancellation shall take effect on
the giving of the notice.
	 
	20.2	 	It is agreed that a breach of any of the Related Agreements by any of the parties to those
agreements, and a failure to remedy any such breach in the time period provided therefor,
shall ipso facto constitute a breach of this Agreement entitling either Party to exercise the
rights set out in this clause 20, provided that the Party

 

18

	 	 	exercising such rights is not the party which is in breach of the relevant Related
Agreement.
	 
	20.3	 	The Aggrieved Party’s remedies in terms of this clause 20 are without prejudice to any
other remedies to which the Aggrieved Party may be entitled in law.
	 
	21	 	DISPUTE RESOLUTION
	 
	21.1	 	In the event of there being any dispute or difference between the Parties arising out of this
Agreement, the said dispute or difference shall on written demand by either Party be submitted
to arbitration in Johannesburg in accordance with the AFSA rules, which arbitration shall be
administered by AFSA.
	 
	21.2	 	Should AFSA, as an institution, not be operating at that time or not be accepting requests
for arbitration for any reason, then the arbitration shall be conducted in accordance with the
AFSA rules for commercial arbitration (as last applied by AFSA) before an arbitrator appointed
by agreement between the Parties or failing agreement within 10 (ten) business days of the
demand for arbitration, then either Party shall be entitled to forthwith call upon the
chairperson of the Johannesburg Bar Council to nominate the arbitrator, provided that the
person so nominated shall be an advocate of not less than 10 (ten) years standing as such.
The person so nominated shall be the duly appointed arbitrator in respect of the dispute. In
the event of the attorneys of the Parties failing to agree on any matter relating to the
administration of the arbitration, such matter shall be referred to and decided by the
arbitrator whose decision shall be final and binding on the Parties.
	 
	21.3	 	Any Party may appeal the decision of the arbitrator or arbitrators in terms of the AFSA rules
for commercial arbitration.
	 
	21.4	 	Nothing herein contained shall be deemed to prevent or prohibit either Party from applying to
the appropriate court for urgent relief or for judgment in relation to a liquidated claim.
	 
	21.5	 	Any arbitration in terms of this clause 21 (including any appeal proceedings) shall be
conducted in camera and the Parties shall treat as confidential details of the dispute
submitted to arbitration, the conduct of the arbitration proceedings and the outcome of the
arbitration.
	 
	21.6	 	This clause 21 will continue to be binding on the Parties notwithstanding any termination or
cancellation of the Agreement.

 

 

19

	21.7	 	The Parties agree that the written demand by either Party to the dispute in terms of
clause 21.1 that the dispute or difference be submitted to arbitration, is to be deemed to be
a legal process for the purpose of interrupting extinctive prescription in terms of the
Prescription Act, 1969.
	 
	22	 	NOTICES AND DOMICILIA
	 
	22.1	 	The Parties select as their respective domicilia citandi et executandi the following
physical addresses, and for the purposes of giving or sending any notice
provided for or required under this Agreement, the said physical addresses as
well as the following telefax numbers -

	 	 	 	 	 
	Name	 	Physical Address	 	Telefax
	Seller

	 	c/o Knowles Husain
	 	+27 11 669 6299
	 

	 	Lindsay Attorneys	 	 
	 

	 	4th Floor, The Forum	 	 
	 

	 	2 Maude Street	 	 
	 

	 	Sandown, Sandton	 	 

	 	 	Marked for the attention of: Ian Lindsay

	 	 	 	 	 
	Name	 	Physical Address	 	Telefax
	Purchaser

	 	Block 27	 	+27 11 684 0188
	 

	 	Randfontein Office Park	 	 
	 

	 	Corner Main Reef Road &	 	 
	 

	 	Ward Avenue	 	 
	 

	 	Randfontein	 	 
	 

	 	Republic of South Africa	 	 

	 	 	Marked for the attention of: The Company Secretary
	 
	 	 	provided that a Party may change its domicilium or its address for the purposes of
notices to any other physical address or telefax number in the Republic of South Africa by
written notice to the other Party to that effect. Such change of address will be effective
5 (five) business days after receipt of the notice of the change.
	 
	22.2	 	All notices to be given in terms of this Agreement will be given in writing, in English, and will -
	 
	22.2.1	 	be delivered by hand or sent by telefax;
	 
	22.2.2	 	if delivered by hand during business hours, be presumed to have been
received on the date of delivery. Any notice delivered after business hours or
on a day which is not a business day will be presumed to have been received
on the following business day; and
	 
	22.2.3	 	if sent by telefax during business hours, be presumed to have been received

 

 

20

		 	on the date of successful transmission of the telefax. Any telefax sent after
business hours or on a day which is not a business day will be presumed to have been
received on the following business day.
	 
	22.3	 	Notwithstanding the above, any notice given in writing in English, and actually
received by the Party to whom the notice is addressed, will be deemed to have
been properly given and received, notwithstanding that such notice has not been
given in accordance with this clause.
	 
	22.4	 	The Parties record that whilst they may correspond via email during the currency of this Agreement for operational reasons, no formal notice required in terms of
this Agreement, nor any amendment of or variation to this Agreement may be
given or concluded via email.
	 
	23	 	BENEFIT OF THE AGREEMENT
	 
	 	 	This Agreement will also be for the benefit of and be binding upon the successors in
title and permitted assigns of the Parties or either of them.
	 
	24	 	APPLICABLE LAW AND JURISDICTION
	 
	24.1	 	This Agreement will in all respects be governed by and construed under the laws
of the Republic of South Africa.
	 
	24.2	 	For the purpose of clause 21.4 or for the purpose of making the arbitration award
an order of court, the Parties hereby consent and submit to the non-exclusive
jurisdiction of the North Gauteng High Court, Pretoria in any dispute arising from
or in connection with this Agreement. The Parties agree that any costs awarded
will be recoverable on an attorney-and-own-client scale unless the Court
specifically determines that such scale shall not apply, in which event, subject to
any specific determination by the Court, the costs will be recoverable in
accordance with the High Court tariff, determined on an attorney-and-client scale.
	 
	25	 	GENERAL
	 
	25.1	 	This Agreement constitutes the whole of the agreement between the Parties
relating to the matters dealt with herein and, save to the extent otherwise
provided herein, no undertaking, representation, term or condition relating to the
subject matter of this Agreement not incorporated in this Agreement shall be
binding on either of the Parties.
	 
	25.2	 	No addition to or variation, deletion, or agreed cancellation of all or any clauses

 

 

21

		 	or provisions of this Agreement will be of any force or effect unless in writing and signed
by the Parties.
	 
	25.3	 	No waiver of any of the terms and conditions of this Agreement will be binding or
effectual for any purpose unless in writing and signed by the Party giving the
same. Any such waiver will be effective only in the specific instance and for the
purpose given. Failure or delay on the part of either Party in exercising any right,
power or privilege hereunder will not constitute or be deemed to be a waiver
thereof, nor will any single or partial exercise of any right, power or privilege
preclude any other or further exercise thereof or the exercise of any other right,
power or privilege.
	 
	25.4	 	All provisions and the various clauses of this Agreement are, notwithstanding the
manner in which they have been grouped together or linked grammatically,
severable from each other. Any provision or clause of this Agreement which is or
becomes unenforceable in any jurisdiction, whether due to voidness, invalidity,
illegality, unlawfulness or for any other reason whatever, shall, in such jurisdiction
only and only to the extent that it is so unenforceable, be treated as pro non
scripto and the remaining provisions and clauses of this Agreement shall remain
of full force and effect. The Parties declare that it is their intention that this
Agreement would be executed without such unenforceable provision if they were
aware of such unenforceability at the time of execution hereof.
	 
	25.5	 	Neither this Agreement nor any part, share or interest herein nor any rights or
obligations hereunder may be ceded, delegated or assigned by either Party
without the prior written consent of the other Party, save as otherwise provided
herein.
	 
	25.6	 	This Agreement may be executed in counterparts, each of which shall be
deemed an original, and all of which together shall constitute one and the same
Agreement as at the date of signature of the Party last signing one of the
counterparts.
	 
	26	 	COSTS
	 
	 	 	Each Party will bear and pay its own legal costs and expenses of and incidental to the
negotiation, drafting, preparation and implementation of this Agreement.

 

 

22

	27	 	SIGNATURE
	 
	 	 	Signed on behalf of the Parties, each signatory hereto warranting that
he/she has due authority to do so.

SIGNED at SANDTON on 8 SEPTEMBER 2009

	 	 	 	 	 

	 
	 	For and on behalf of	 	 
	 
	 	PAMODZI GOLD FREE STATE	 	 
	 
	 	(PROPRIETARY) LIMITED (IN	 	 
	 
	 	PROVISIONAL LIQUIDATION)	 	 
	 
	 	 	 	 
	 
	 		 	 
	 
	 
	 	(UNDER POWER OF ATTORNEY)	 	 
	 
	 	 

Name of Signatory
	 	
	 
	 	 	 	 
	 
	 	JOINT PROVISIONAL LIQUIDATORS	 	 
	 
	 	 	 	 
	 
	 	Designation of Signatory	 	 

SIGNED at SANDTON on 8 SEPTEMBER 2009

	 	 	 	 	 

	 
	 	For and on behalf of
	 
	 	AVGOLD LIMITED
	 
	 	 
	 
	 	/s/ R.A.L. Atkinson
	 
	 	 
	 
	 	Signature
	 
	 	 
	 
	 	R.A.L. Atkinson
	 
	 	 
	 
	 	Name of Signatory
	 
	 	 
	 
	 	Executive
	 
	 	 
	 
	 	Designation of Signatory

 

 

			
	 	 	 
	WESTRUST (PTY) LTD	 	P O BOX 10527
	1ST FLOOR	 	JOHANNESBURG
	41 CENTRAL STREET	 	2000
	HOUGHTON	 	TEL: (011) 728 3222
	2198	 	 

POWER OF ATTORNEY TO ADMINISTER ESTATES

I, the undersigned,

ALLAN DAVID PELLOW

do hereby nominate constitute and appoint

GAVIN CECIL GAINSFORD

In the following Estates :

Pamodzi Gold Free State (Pty) Limited (In Liquidation)

Master’s Reference No. T2258/09

Pamodzi Gold East Rand (Pty) Limited (In Liquidation)

Master’s Reference No. T2257/09

Irrevocably and in rem suam, jointly and severally with Power of Substitution, to be my lawful
Attorney and Agent in my name, place and stead to appear before the Master of the High Court, or
before any Magistrate, at his or their offices, likewise before any Commissioner, and to appear at
all Meetings of Creditors to be held in Insolvent Estates and Companies in Liquidation and then and
there, on my behalf to file and prove claims against the said Estate, to vote for me in the
election of a Trustee or Liquidator, to accept appointments on my behalf, to administer the Estates
and prepare and sign liquidation accounts, reports and any other documents and further to represent
me in all matters or things relating to the administration of said Estates, including the right to
vote on an Offer of Compromise and generally for effecting the purpose aforementioned to do or
cause to be done whatsoever will be requisite, as fully and effectually, to all intents and
purposes as I might or could do if personally present and acting herein; hereby ratifying, allowing
and confirming and promising and agreeing to ratify, allow and confirm all and whatsoever my said
Attorney or Agent shall lawfully do or cause to be done in the premises by virtue of these
premises.

GIVEN UNDER MY HAND AT JOHANNESBURG THIS 19 DAY OF AUGUST 2009 in the presence of the undersigned
witnesses.

WITNESSES:

	 	 	 	 	 

	1.

	 		 	 
	2.

	 		 	

 

 

ANNEXURE “1”

WASTE ROCK DUMP AREA

 

 

 

 

ANNEXURE “2”

SURFACE RIGHT PERMITS

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	New SRP	 	 
	Description	 	SRP NO	 	R M T NO	 	No	 	Registered Holder
	1. Shaft equipment with
fencing
	 	0 10/57	 	SR 199	 	4797/2005	 	Free State Consolidated Gold Mines (Operations) Limited
	 
	 	 	 	 	 	 	 	 
	2. Reduction works with
fencing
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	3. Waste rock dump with fencing
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	4. Mine offices with fencing
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	5. Shaft equipment with
fencing
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	6. Compressor house with
fencing – Martina’s Gift 299,
Dolly 404, Kalkkuil 153 and
Paleis Heuvel 323, district
Odendaalsrus
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Extension to waste rock dump
with fencing on Paleis Heuvel
323

	 	87/84	 	0 110/84	 	4810/2005	 	Free State Consolidated Gold Mines (Operations) Limited

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