Sekoko Resources...Waterberg Project • Total of 8 tenements, with total surface area of 7,500 ha • Adjacent to existing Exxaro Mine, Grootegeluk • Initial drilling by Sekoko

Sekoko Resources STRATFOR Presentation

17 October 2011

Sekoko Resources

• Chairman and Founder: Timothy Tebeila

• Wholly black owned company

• Original Focus: Mining projects in located in Limpopo of RSA

• Strategy: Move into other provinces and neighbouring countries

• Widen business focus by mining additional commodities

Sekoko Projects

Waterberg Project, Smitspan

Waterberg Locality Map

Waterberg Project

• Total of 8 tenements, with total surface

area of 7,500 ha

• Adjacent to existing Exxaro Mine,

Grootegeluk

• Initial drilling by Sekoko from 2007

• 1.8bn tonnes GTIS

• Definitive Feasibility Study (DFS)

completed in October 2010

• Mining Rights Application granted as off

August 2011

Waterberg Project

Drilling on Smitspan

Borehole Positions and Stripping Ratio on Smitspan

Geology

• Zone 11 -7:

• Overburden = 32m

• Avg. seam width = 9m

• Zone 11–1: Sulphur ≈ 1

Moisture ≈ 3

Zone 11 – 7

•CV ≈ 22

•Ash ≈ 29

•Volatiles ≈ 29

Zone 6 – 4

• CV ≈ 19

•Ash ≈ 35

•Volatiles ≈ 24

Zone 3 – 1

•CV ≈ 24

•Ash ≈ 22

•Volatiles ≈ 22

Smitspan Mine Design

Railway Logistics

• Conceptual

design completed

• Three (3) options

identified

• Specialist studies

conducted on

options

• ROD expected in

February 2012

(DEA process and

timelines)

The Customer: Eskom

• Existing MOU allocated for 525 000t is being

reviewed and a possible allocation of 10mt to be

resolved by September 2011, for a 30-40year

supply

• Coal to be supplied to Tutuka and Majuba Power Stations located in Mpumalanga

• Additional production of export quality (CV ≈ 24)

• Determined agreements, dictate project timeline

Key Milestones

Completed

DFS

Mining Right

Rail – Preliminary

design

Infrastructure

CHPP design

Outstanding

WULA

EIA/ROD: Smitspan

EIA/ROD: Rail

Eskom final MOU

Capricorn Iron Ore, Limpopo

Capricorn Iron Ore – Locality Plan

The Capricorn project involves the development of a greenfield open-cast iron ore mine 30km

NE of Polokwane, Limpopo. The project area includes 4 farms(A) located adjacent to the

Zandrivierspoort low-grade magnetite iron ore deposit of Kumba Resources(B).

Capricorn Iron Ore

Sekoko has 2 Iron Ore Prospecting Rights on the

farms DeLoskop, Roodewal, Ruigedraai and

Kalkfontein with a total exploration target of iron ore

mineralisation estimated at 200Mt at a

grade of between 30% Fe and 40% Fe. The

target formation, the Zandrivierspoort Banded

Ironstone Formation (BIF), hosts mineralisation

at a locality 35km to the SE at a grade of 35%

Fe where the geology of the regional deposits

is well understood as a result of historical

exploration having been undertaken previously

by ISCOR/Kumba.

Roodewal & Ruigedraai

Zandrivierspoort

Roodewal

Ruigedraai

Kalkfontein

Timeline Project Planning

2008/09 •Drilling

2010 •Reserve 2011

•Compilation of Mining Right

Application; EIA/EMP

2012 •Mining Right Application

2014 • Construction

•Commissioning

2016 •Production

2013 •Mining Right Granted

2015 •Production

Production

Exploration

Tuli Block Coal, Musina, Limpopo

Tuli Block – Locality Plan

Tuli Drilling

Exploration Results

• Main coal zone at shallow depths ranging

from 22 to 26 metres

• The coal zone varies in thickness from 13

to 22 metres

• Free Swelling Indices were mostly in the

range 5 to 7 indicating that the coal has

coking potential

• Coal qualities are quite attractive with

theoretical yields of up to 50% for a 12%

ash product

2008/09 •Drilling

2010 •Reserve 2011

•Compilation of Mining Right

Application; EIA/EMP

2012 •Mining Right Application

2014 • Construction

•Commissioning

2016 •Production

2013 •Mining Right Granted

2015 •Production

Production

Exploration

Timeline Project Planning

Acknowledgements

• Management of Sekoko Resources and

Board of Firestone Energy Ltd. for

permission to present

• Staff of Sekoko for assistance

• Chris Goodale; Consulting Geologist

• Dave Newman; Wirtgen South Africa, and

WirtgenGmbH

• Parsons Brinckerhoff; who carried out the

feasibility study of the project