Outlook

The production guidance for the year ending December 2011 remains unchanged despite the recent wage-related industrial action and higher than expected safety-related stoppages which disrupted the South African operations. Equivalent gold production is estimated at 3.5 million attributable ounces, which is in the range previously provided.

Total cash cost is estimated at US$810 per ounce (R187,000 per kilogram) and the NCE US$1,200 per ounce (R277,000 per kilogram) for financial 2011. Cash cost is slightly higher than the previous estimate due to an increase in royalties driven by the higher gold price. NCE per ounce is in line with previous guidance. This estimate is based on an average exchange rate of R/US$7.18 and US$/A$1.04 for the year.

The above is subject to an improved safety performance limiting the impact of safety-related stoppages and the forward looking statement.