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Amalahle

In April 2008, Amalahle Exploration (Pty) Limited (Amalahle), a 74%-held subsidiary of Keaton Energy, was granted four separate prospecting rights by the DME. The prospecting rights covered six discrete properties totaling 1 597 hectares in the Ermelo and Witbank coal fields. A 69-hole drill programme was initiated and was completed by November 2008 and coal was identified on all of the properties.

Two of the properties are not of economic interest, and the associated exploration expenditure has been impaired. A further two properties are only of possible economic interest if combined with neighbouring properties. The remaining two properties, Leeuwfontein and Braamspruit, are of economic interest. These properties will now be considered ‘projects’ rather than ‘prospects’ and will be added to the group’s small projects portfolio.