fcobamR . =. 3 | LOMBARD 205 -06- 04 INSURANCE COMPANY LIMITED ineral Reso! GUARANTEE NO, M-55339 ‘The Regional Manager Department of Mineral Resources Province House ‘'o Paul Kruger and Botha Street Emalahleni 1035 Reference No. : MP 30/8/1/2/2/10069 MR EE FOR THE REHABILITATION OF LAND DISTURBED BY MINING ‘TION OF ENVIRONMENTAL MANAGEMENT PLAN / PROGRAMME} cnceming the responsibility in terms ofthe Mineral and Petroleum Resources Development Act 28, 2002, which is incumbent on ATHA AFRICA VENTURES (PTY) LTD (Reg. No. 2004020746107) {hereinafter referred to as “the mine owner”) to execute the environmental the mine known as agement plan / programme approved in terms of the provisions ofthe said Act for Y20 RMYN UNDERGROUND COAL MINE (DMR REFERENCE NUMBER MP 30/5/1/22/10069 MR) IN RESPECT OF THE FARMS BLOEMHOF 92 HT, GOEDEGEVONDEN 95 HT, KROMHOEK 93 HT. PORTION I OF THE FARM NAUWGEVONDEN 110 HT, PAARDEKOP [09 IT. UITZICHT tos Hi, PORTION 2 AND THE REMAINING EXTENT OF THE FARM VAN DER WALTSPOORT 81 HT. VIRGINIA 91 HT, WAALHOEK 87 HT, PORTION | AND THE REMAINING EXTENT OF THE FARM YZERMYN 9¢ HT, AND ZOETFONTEIN 94 HT situated in the Magisterial District of WAKKERSTROOM Province MPUMALANGA, we CHRISTOPHER SCOTT BUCHAN and FRIEDRICH SAREL VORSTER in our capactice a MINING DIVISION and LEGAL MANAGER: BONDING DIVISION and as duly authorised teperenstvg of the undersigned LOMBARD INSURANCE COMPANY LIMITED (Reg. No. 1990/001253/06) (hereinafter referred to as "the Guarantor”) enfin that the amount of RS 788 000.00(Five Million Seven Hundred and Fifty Fight Thousand Rand) is ‘valle to you forthe purpose of executing the said environmental management plan programme The Guarantor, who hereby waives the advantages of the exceptions, nom numerate pecuniae, non casa debit, ‘Rouaslani divisions, the meaning and the consequences of which s known tothe Guaranty, underakes te py 10.300 the said sum of RS 788 000.00(Five Milion Seven Hundred and Fifty Eight Thousand Rand) ope ‘Eaciot of a writen claim from you to do so and the claim may be submited by you. if (in your opinion od discretion) the mine owner fails or remains in default to exeewte the sad environmental management ray 1 Programme, or if he ceases mining/prospecting operations, or if is estate is sequestrated, or if he shes hand cy Bis estate in terms ofthe Insolvency Acts which are applicable inthe Republic of South Alfica, or ifthe Gasrareee Bives written natice to you ituted by you at any tom of Chine soften ae stage commencing fom the date of dgnatire ofthis meron AE. f GO =3S GUARANTEE NO, M- 55339 Page 2 % The Guarantor, who herchy waives the advantages ofthe exceptions, nom numerae pecuniae, non causa debit yer et dinisions the meaning and the consequences of whichis known wo the Guarantor, undertakes to poy 23a the ssid sun of RS 788 000.00(Five Milion Seven Hundred and Fifty Fight Thousand Rand) yee receipt of a written claim ffom you to do so and t discretion) the mine owner fails or remais € claim may be submited by you, if (in your opinion and in default to exceute the programme, or if he ceases mining’prospecting operations, or it his estate i said environmental management. plan / 's soquestrated, or iThe should hand over his estate in terms ofthe Insolvency Acts which are applicable in the Republic of South AMfica,o i ihe Gooey gives written stage commenti i fom the date of signature ofthis guarantee ic to you in terms of Clause § ofthis grocment. The said claim may be instituted by you at any * fhe sai amount of RS 758 000.00(Five Million Seven Hundred and Fifty Eight Thousand Rand) may beheld by you on the condition that you, after having complied with all th ‘management plan / programme, will give account to the Guarantr of ho ‘any unappropriated amount to the Guarantor 4. This undertaking i nether negotiable nor transferable and - 1¢ provisions of the said environmental Amount was appropriated and repay (2) must be returned tothe Guarantor when giving account to the Guarantor in terms of Clause 3 above, (b) shall lapse on the granting of a closure certificate in Development Act, 2002 (Act 28 of 2002) and (©) Shall not be construed as placing any other responsibilty on the Gua uaranteed amount. 5. The Guarantor reserves the right to withdraw fiom this guarantee ‘written notice in advance of his intention to 60 so, ‘Yours futhfly, SIGNED AT JOHANNESBURG ON THIS 3® DAY OF JUNE 2015, +y # 1 CB wrth GS. BUCHAN MANAGER. MINING DIVISION AS WITNESSES: “HEMRAJ {erms of the Mineral and Petroleum Resources or other than the paying of the after having given you at least three months S. VORSTER LEGAL MANAGER BONDING DIVISION