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Notes to the consolidated financial statements for the year ended 30 June 2009

Notes 1. ACCOUNTING POLICIES 2. PROPERTY, PLANT AND EQUIPMENT 3. INVESTMENT PROPERTIES 4. INTANGIBLE ASSETS 5. INVESTMENTS 6. INVENTORIES 7. TRADE AND OTHER RECEIVABLES 8. SHARE CAPITAL 9. SHARE PREMIUM 10. TREASURY SHARES  11. OTHER RESERVES  12. LONG-TERM BORROWINGS 13. DEFERRED TAXATION 14. LONG-TERM PROVISIONS 15. TRADE AND OTHER PAYABLES  16. SHORT-TERM PROVISIONS  17. SHORT-TERM BORROWINGS AND OVERDRAFTS 18. REVENUE  19. FINANCE COSTS  20. PROFIT BEFORE TAXATION AND STATE'S SHARE OF PROFITS 21. TAXATION AND STATE'S SHARE OF PROFITS 22. EARNINGS AND HEADLINE EARNINGS PER SHARE 23. DIVIDENDS  24. NOTES TO THE CASH FLOW STATEMENT  25. FINANCIAL RISK MANAGEMENT 26. CAPITAL MANAGEMENT 27. COMMITMENTS/option> 28. CONTINGENT LIABILITIES 29. INVESTMENT IN JOINT-VENTURE ENTITY 30. SEGMENTAL INFORMATION 31. RELATED PARTY TRANSACTIONS 32. RETIREMENT BENEFIT INFORMATION 33. COMPARATIVE INFORMATION

2009     2008           R’000     R’000   12. LONG-TERM BORROWINGS           Preference shares           Balance at beginning of year: 536 (2008: 536) “A” redeemable cumulative           variable rate preference shares of 1 cent each issued by Main Street 350           (Proprietary) Limited to SBSA to finance the acquisition of Assore shares           by the Bokamoso Trust, issued at a premium of R99,999.99 per share     58 987     53 600     Accumulated dividends     –     5 387     84 shares redeemed (R8,4 million) and payment of accrued dividends (R5,4 million)    (13 787)    –     Balance at end of year (452 (2008: 536) shares)    45 200     58 987     Long-term portion of finance lease liabilities               Finance lease liabilities over vehicles with a carrying amount of R11,1 million               (2008: R18,1 million) repayable in varying monthly instalments over 36 months               (2008: 48 months) which bear interest at 1,40% (2008: 1,40%) below the prime               overdraft rate     13 759     19 135     Less: repayable within one year included in short-term borrowings (refer to note 17)    (7 403)    (5 330)         6 356     13 805          51 556     72 792     The finance leases relate to mining vehicles and have no terms of renewal or               purchase options included in the agreements concerned.                    Balance at                              year-end                              Total                              borrowings   Repayable during the years ending 30 June          2009     2010     2011     2012     2013          R’000     R’000     R’000     R’000     R’000     2009                              Secured                              – finance lease liabilities     13 759     7 403     3 989     2 367     –                                        2008     2009     2010     2011     2012          R’000     R’000     R’000     R’000     R’000                                   2008                              Secured                              – finance lease liabilities     19 135     5 330     4 829     5 447     3 529     Interest payable and repayment terms                                        2009        2008                      Present          Present               Minimum     value of     Minimum     value of               payments     payments     payments     payments               R’000     R’000     R’000     R’000     Repayable – within one year          7 403     7 403     5 330     5 330     – after one year but not more than five years          7 894     6 356     18 421     13 805     Total minimum lease payments          15 297     13 759     23 751     19 135     Less: finance charges          1 538     –     4 616     –     Present value of minimum lease payments (as above)         13 759     13 759     19 135     19 135   . .