E+PC Uranium Capability Statement (Final)

August 2009

Complete Uranium Project

Capability Studies Detailed Engineering Design Implementation Operations

Acid Leach Alkaline Leach CCD/SX RIP

H2SO4 Plants Water Treatment Plants Power Plants

Operations

Introduction

South African based E+PC Engineering & Projects Company Limited (E+PC) is a subsidiary of the international project development and construction company AVENG (AFRICA) LTD.

E+PC serves the mining, chemical, petrochemical and energy industries providing comprehensive project management, engineering design, technology sourcing, procurement and construction management services for large scale multi-disciplinary projects.

E+PC is an ISO 9001:2008 accredited company which employs a broad range of skills within six business divisions located across South Africa. E+PC’s Minerals & Industrial Division specialises in Gold, Uranium, and Coal projects, amongst others.

Total Uranium Capability

Studies

Recent feasibility study work has been undertaken on a number of uranium projects within Southern Africa :

Langer Heinrich Uranium – Original BFS

Kayelekera Uranium – BFS Flowsheet Review and Optimisation

Langer Heinrich Uranium Stage 3 Expansion

GoldFields Driefontein – PFS to Treat Historical Tailings

GoldFields Driefontein – BFS to Treat Current Gold Plant Tailings

Implementation

For the detailed design and implementation phase, E+PC possesses the necessary capabilities to undertake all aspects of a greenfields Uranium project including the different process options: -

Acid to Alkaline

Conventional to RIP

In addition E+PC also has in-house design and construction capabilities in ancilliaries typical of a greenfields Uranium project : -

Sulphuric Acid Plants

Water Treatment Plants

Power Plants

Langer Heinrich Uranium

Plant Alkaline Leach CCD / SX

Kayelekera Uranium

Plant Acid Leach RIP

Kayelekera H2SO4 Plant

230tpd

Trekkopje Desalination

Plant 25ml / day

Recent Uranium Projects Implemented

Kayelekera PROJECT DETAILS EPCM Greenfields LOCATION Karonga District, Malawi VALUE $ 175M DATE March 2007 – April 2009 CLIENT Paladin Energy Ltd

Scope

Milling and preleach thickening

Leaching – ambient temp, acid leach

Resin-in Pulp - carousel

Elution

Direct precipitation (1st stage gypsum, 2nd stage U)

Drying

Packaging

Tailings thickening, neutralisation and deposition

Water reticulation and reagent plants

All associated infrastructure Sulphuric Acid Plant

Langer Heinrich

PROJECT DETAILS EPCM - Phase 2 Expansion LOCATION Swakopmund, Namibia VALUE R 454 Million DATE October 2007 - June 2009 CLIENT Langer Heinrich Uranium (Pty) Ltd

Scope

Modification of : o Crushing and Scrubbing circuit o Classification circuit

Additional: o Pre-leach thickening o Leach tanks o CCD thickeners o Ion-exchange columns.

Expansion to: o Precipitation o Drying and packaging plants

Recent Water Treatment Projects Implemented

The project is a world first with both positive environmental and economic spin-offs.

Kleinkopje Desalination Plant

PROJECT DETAILS Fidic EPC “Silver Book” LOCATION Swakopmund , Namibia VALUE R428 Million DATE Completion : 3

rd Quarter 2009

CLIENT Areva

Keyplan has developed a high recovery desalination process (HiPRO) which significantly outperforms any comparable technology. What sets this process apart from other technologies is its ultra high water recovery. Most RO membrane process can achieve no more than 75 to 80% water recovery. To improve on this, one normally uses an evaporator/ crystallisers. The HiPRO process eliminates the need for an evaporator which has a relatively high operating cost.

Crocodile River Platinum Concentrator

PROJECT DETAILS Operate and Maintain LOCATION Brits , South Africa VALUE US$ 15 Million DATE (Operations) December 2000 – December 2005 CLIENT Barplats ( Impala Platinum)

Plant Operating Experience Minerals Processing Sulphuric Acid Water Treatment

Kayelekera Acid Plant

PROJECT DETAILS EPCM with ongoing Operations LOCATION Kayelekera, Malawi VALUE R 152m CAPEX on behalf of Paladin DATE (Construction) August 2007 – June 2009 CLIENT Paladin Resources

Emalahleni Water Treatment Plant

PROJECT DETAILS LSTK with ongoing Operations and Maintenance LOCATION Witbank, South Africa VALUE R 220 Million DATE (Construction) March 2006 – September 2007 CLIENT AngloCoal/BHP Billiton

Operating Contract Methodologies

E+PC has been operating metallurgical plants on an outsourcing basis since 1991

It has successfully completed in excess of 14 contracts

Various different contracting methodologies can be applied:

o B+O (Build and Operate)

o BOO/T (Build, Own, Operate and Transfer)

o O+M (Operate and Maintain)

CAMELOT GOLD PROJECT

Project Details: Gold

Build, Own and Operate

Location: Barberton, RSA

Value: R144 million US$ 31 million (1997) Date: June 1997 to

April 2005

Client: Eastern Transvaal Consolidated Mines

SUMO COAL PROJECT Project Details: Coal

Build, Operate and Maintain Location: Middelburg, RSA

Value: R11.0 million Date: November 1996 to July 2005 Client: Sumo Collieries

CROCODILE RIVER CONCENTRATOR

Project Details: PGE’s

Operate and Maintain

Location: Brits, RSA Value: R105 million

US$15 million (2000)

Date: December 2000 to December 2005 Client: Barplats (Impala Platinum)

Financial Incentives

E+PC can access various different incentives aimed at delivering studies and projects in Africa and across the world.

Incentives for Bankable Feasibility Studies

o Funding available for up to 55% of the cost of the study.

Incentives for the Implementation Phase.

o Political Risk Cover (100% of the Loan Amount)

o Commercial Risk Cover (85% of the Loan Amount)

o Debt funding at 6 month Libor plus 2 ½ %

o Foreign Exchange Risk Cover

o Profit Make up Facility based on Libor plus 2 ½ %

Building 30, The Woodlands , Woodmead Drive , Sandton, South Africa | Phone: +27 (0)10 205 1000 | Fax: +27 (0)87 807 0143

[email protected]@e-pc.co.za | www.e-pc.co.za