Miranda Minerals Holdings Limited
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Rozynenbosch Base Metal and Silver Project
The project is a lead-silver-zinc and copper deposit located on the farm Rozynenbosch 104 in the Kenhardt district of the Northern Cape. The property has been extensively explored by Goldfields and Phelps Dodge in the 1970’s and 1980’s resulting in a clearly defined ore body of some 14 million tonnes. The CPR commissioned by Miranda confirmed a SAMREC compliant Indicated Resource of 14 million tonnes grading at Pb=1.79%; Zn=0.46%; Cu=0.03% and Ag=34.1g/t.

Consistent with the company’s business model of earning royalties from strategic joint venture partners who will mine the deposit, the directors placed a value of R284 million on the project in February 2006. The value has been arrived at by discounting the future cash flows attributable to Miranda based on forecast commodity prices and exchange rates over the life of the mine as well as market related, revenue participation income appropriately discounted for risk.

The company holds permits over two economically viable brick making clay projects in the North West province some 80 km’s from Johannesburg. The Uitval deposit is estimated to be large enough to justify the establishment of a brick plant with a 30 year life. The company has entered into a joint venture with a large brick manufacturer to set up a plant capable of producing 8 million bricks per month. A detailed drilling programme has been completed and the Mining Right application is currently being prepared for submission to the DME.

The Turfontein deposit is situated 30 km’s north of Potchefstroom on the main Carletonville/Potchefstroom road. Miranda commissioned a SAMREC compliant CPR on the deposit which identified an indicated clay resource with an estimated volume of 6.8 million cubic meters, yielding a minimum of 18 million tonnes of recoverable material.
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