Monastery KimberliteProject

South Africa

This presentation is not a solicitation for investment

Monastery KimberliteExceptional kimberlite

Exceptional diamonds

• Discovered 1888 – Sekameng - ilmenite• Mined briefly during Anglo Boer War• Land dispute with Lesotho after Union of South

Africa from 1908 to 1965 • Farmer prospected from 1964• De Beers/Randgold JV prospected underground

and fissure 1968 to 1973 then acquired by Octha• The Octha Group sold to GEMEX in 1980 • Mine put on care and maintenance 1983• Acquired by Thabex in 2007• Thabex New Order Prospecting Right to 2011• Mining Right granted in December 2013

History of Monastery Mine

Thabex Limited

Tradepost 121 (Pty) Ltd (86%)

Monastery Mine (Pty) Ltd (94,44%) Mining Right Granted

Private Investors (14%)

BBEE Partner (5.66%)

Public Investors (45%)

Corporate Structure

Location of kimberlite pipe

Monastery Mine

Monastery Mine

Fissure

Main kimberlite pipe

Kimberlite blows

Gemex 1980 - 100tph DMS

Construction of the 100tph EL Bateman DMS plant during early 1980

Monastery old 100tph DMS

100tph DMS plan andConcentrate recovery unitin the background to be refurbished

Prospecting - 40tph DMS

Director: Joe Rachidi and Technical manager: Eben van Tonder

Diamond Resources

Measured DiamondResource up to 100m 1.7Mt at 25cph

Total Diamond and Mineral Resources:1.5m cts and300 000t ilmenite(6Mt at 25cpht up to 500m estimated by SMI in CPR of 3 January 2014)

Indicated Diamond Resource up to 300m2.3Mt at 25cpht

MK Fissure strike of 2km estimated grade 18cpht

Depth extension of main pipe to 800m

Inferred Diamonds Resource up to 500m2Mt at 25cpht

Monastery Kimberlite – MK1

Quarry type kimberlite

Monastery Kimberlite – MK2

Breccia type kimberlite

Monastery Kimberlite – MK3

Fine grained type kimberlite

Monastery Kimberlite – MK4

East end (khaki) type kimberlite

Monastery Fissure – MKF

Fissure kimberlite

Project development

Project Definition

Geological studies

Mineral Rights

Monastery Kimberlite Project

FeasibilityDrilling

ProvenResources

Bankable feasibility

Project development phases

Resource definition

ConfirmationDrilling

MeasuredResources

RaiseCapital

EstablishMiningOperation

Production

Phase 2 Phase 3Phase 1

Project valuation

Real Net Present Value estimated at R582m up to 300m deep - 4Mt at 25cpht

• Estimate diamond price R3 000/ct• Capital requirement R155m• Cash cost of R270/t or R1080/ct• R/$ exchange rate of R10.00/$• Real discount rate of 10%• RIRR in excess of 240%• Payback within 2 years• 10+ year life of mine

Sensitivity analysis

Monastery Mine - Future

Entrance to Monastery Mine with already established infrastructure – Thabex’s head office

Monastery Mine - Future

Eben van Tonderholding a large garnet indicating the exceptional sizes of megacrysts contained in the Monastery Kimberlite

Monastery Mine - Future

Eben van Tonderand Jeremy Clarkeof Paradigm ProjectManagers on overSized dump of50 000t available forimmediate treatment

Monastery Mine - Future

Exceptional Kimberlite exceptional diamonds• 20% gem quality diamonds • Produced +20cts diamonds

9.95cts high quality rough diamond high quality rough diamonds

Monastery KimberliteProject

South Africa

This presentation is not a solicitation for investment

Thank you