Nababeep Copper Oxide Dumps

Surface copper oxide rock dumps located on the old Nababeep Mine site, north of Springbok. The dumps consist of unprocessed oxide copper mineralised material (chrysocolla, malachite, brochantite) generated by historical sulphide mining between 1852 and 2007. Operated by Cape Copper Oxide (Pty) Ltd (CCO), a wholly-owned subsidiary; assets are moveable (do not fall under MPRDA and are not subject to a mining royalty). Treatment licences/permits held by O'Okiep Copper Company (Pty) Ltd (OCC). Material is loaded, stockpiled, sampled daily and processed via the SX-EW plant on site at Nababeep. Bulk sampling by actual processing and cathode production used to update and reconcile resource estimates. Modifying factors: SG 2.00, acid solubility 92%, leachability 84%, soluble recovery 84%, total plant recovery 65%; pay limit 0.45% Cu, cut-off 0.75% Cu, AMG 1.15% Cu; Cu price USD 9,000/t, exchange rate ZAR 16.75/USD. SX-EW plant placed on care-and-maintenance in H2 FY2025 pending capital expansion.