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History


Resource: Superkolong, SA

February 2013

El Nino Mining creates 50/50 SPV with Emu NL (Australia) to purchase Superkolong

May 2014

Batla buys out Emu's 50% share.

Batla owns 100% of Superkolong Diamond Operations

August 2014

Batla buys additional 9% of KMF and increases production to 200k+ tons per month

  • Current plant volumes process 200k+ tons/month
  • Further plant upgrades to increase capacity to 240k+ tons/month
  • Three-year wage deal helps to secure stable work force (2017)
  • Exploring potential to install capacity to 300k+ tons/month (dependent on demand)
  • Target 108.000 carats per annum

Production/recovery - Superkolong

Superkolong Diamond Operatioins, Kimberley SA
Year ending 31 March 2014 Estimate for year ending 31 March 2015
Number of tons 1.452.562 2 million
Carats 75.715 108.000
Carats / 100 tons 5.21 5.4

Resource: Letšeng Mine, Lesotho

2001

Alluvial Ventures (AV) entered into contract with Lešteng Mine in Lesotho

Feb 2011

Upgraded Letšeng plant with 2 new crushers to handle hard kimberlite

Sept 2011

Reached full production, 100k tons of hard kimberlite per month

CY 2011

Processed 1.08 million tons of ore, recovered 11,238 carats

CY 2014

Processed 988.908 tons of ore, recovered 10,221 carats

Goals:

  • Complete contract with Letšeng (year-end 2015)
  • Maintain production at a minimum of 90K tons/month
  • Improve operational efficiencies and reduce costs

Production/recovery - Letšeng

Letšeng Mine, Lesotho Year ending 31 March 2013 Year ending 31 March 2014 Estimate for year ending 31 March 2015
Number of tons 1.025.901 988.908 1.020.000
Carats 10.153 10.221 9.155
Carats / 100 tons 0.99 1.03 0.90

Resource: Kolo Mine, Lesotho

  • Mining lease ontained July 2011. Estimated resource of:
    • 1.3 million tons kimberlite
    • 110.000 carats
  • Extended issues regarding legal ownership by previous leaseholders. Lesotho Appeals Court declared free-and-clear ownership in April 2013.
  • Site-development in progress to facilitate the beginning of trial mining in early 2015.

Kolo Mine Phased Development

Phase 1

Phase 1

2014-2015 CAPEX & OPEX estimate at $750K

Kolo

Set up processing

Conduct 60K tons pre-mining test

Sekameng

Complete 50K tons bulk sample to verify existence, quality and value of diamonds

Phase 2

Phase 2

2015-2016 CAPEX est. $2Mil OPEX est. $8/ton

Kolo

Make capital investments to increase capabilities and process 50K tons/month

Sekameng

Process a larger bulk sample of 200K tons

Resource Riviera Tungsten

  • Project to be the 11th largest deposit in the world.
  • Bongani Minerals (effective control by Batla) received prospecting right July 1, 2011 for tungsten, molybdenum, rare earths, copper, zinc, silver and gold.
  • Re-testing of select core drill data from 30+ years ago indecates 80% validation of historic data.
  • Resource contains 46 million tons ore (historic Anglo data) with estimates of:
    • 100,000 tons tungsten
    • 9,000 tons molybdenum

Phase 1 - 2012-2013 CAPEX & OPEX est. $2Mil (secured)

  • Prospect drilling began in March 2012
  • Environment & Impact Study
  • Update resource classification and complete work required for pre-feasibility
  • Achieve an inferred resource classification by CY2013

Phase 2 - 2013+ CAPEX est. $10-15Mil

  • Complete prospect/infill drilling
  • Assay/metallurgical work
  • Scope work on CAPEX
  • Conduct pre-feasibility study
  • Achieve an indicated resource classification

Goals:

  • Achieve an indicated resource classification after a further 12 months at an estimated cost of $10-15Mil
  • Complete pre-feasibility study by the end of 2014
  • Access historic Anglo data to determine exploration spend and optimize development approach.

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