The Afrikander Lease Limited -Reserve and Resource
The Afrikander Lease Limited
(Incorporated in the Republic of South Africa)
AFL (JSE) AFKDY (NASDAQ)
(Registration number 1921/006955/06) Share Code: AFL
ISIN Code: ZAE000000253 ("Aflease" or "the company" of "AFL")
Reserve and Resource Statement
Following an internal process of evaluating the Aflease reserves and resources,
the Board is pleased to release a reserve and resource statement.
This statement was produced by independent consultants and subsequently verified
by Executive Management. The information contained herein is however still
subject to a final audit that is currently being performed by SRK Consulting.
The results of the audit will be published in the annual report.
KLEKSDORP AND EAST RAND TOTAL MINERAL INVENTORY
Ore Gold
Million Grams Gold Oz"s
tonnes per tonnes `000"s
tonne
Ore reserves
Proven 9.6 1.0 9.2 295
Probable 34.7 1.6 56.6 1,819
TOTAL ORE RESERVES 44.3 1.5 65.8 2,114
Mineral Resource
Measured 12.7 2.9 36.6 1,177
Indicated 35.7 2.6 91.5 2,942
Inferred 22.3 2.5 54.9 1,764
TOTAL MINERAL 71 2.6 183 5,883
RESOURCES
The underground cut-off grade used for the table above was 1 gram per tonne. The
reserves and resources presented in the above table have been compiled in
accordance with the SAMREC code.
The company website and the 2001 annual report included a schematic presentation
indicating resource figures. The cut-off on these resources was zero grams per
tonne.
Forward Looking Statements:
The above contains forward looking statements that are subject to a number of
known and unknown risks, uncertainties and other factors that may cause actual
results to differ materially from those anticipated in our forward looking
statements. Factors that could cause such differences include: changes in world
gold markets, equity markets, costs and supply of materials relevant to the
mining industry, change in government and changes to regulations affecting the
mining industry. Although we believe the expectations reflected in our forward
looking statements are reasonable, results may vary, and we cannot guarantee
future results, levels of activity, performance or achievements.
By order of the board
30 April 2003
Date: 22/05/2003 01:41:23 PM Supplied by www.sharenet.co.za
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